Global home swapping platform, Love Home Swap reveals property owners could save over £65,000 on holidays over a 20-year period through exchanging their home. 84% of British homeowners have not released the ‘holiday equity’ from their home by joining a home swapping members site meaning that millions of pounds are being missed out on by UK home owners.
The Covid-19 pandemic has forced all of us to reassess how we live, and how we travel. In our quest for more space or a different way of life, the pandemic has led many of us to improve our homes. It has made us value what our homes really mean to us, and what part they play in our all-round happiness.
Global home swapping platform, Love Home Swap understands the importance of their members’ homes and the opportunities they can provide to owners. Through its newly released annual report ‘Home Swapping: The Future of Travel’, Love Home Swap reveals that home swapping could save consumers £65,200 on holidays over a 20-year period*. And with 84% of British homeowners having not yet released the holiday equity from their properties by joining a home swapping site, millions of pounds are currently being missed out on.
Commissioned by Love Home Swap to explore the reasons behind the home swapping trend’s solid double-digit growth for the past few years, the report reveals how and why swapping homes can offer travel-lovers the reassurance they are seeking in these uncertain times. And for homeowners, how this growing travel movement can unlock immense value in their homes.
Written by Zoe Dare Hall, award-winning national property journalist, the report also reveals that whilst 84% of consumers have never tried home swapping before:
20% think it would be a cost-effective way to explore a new area without paying for accommodation
15% think it would be intriguing to stay in someone else’s home
13% say it would be an exciting way to try somewhere completely different
9% say it would be a nice way to build a relationship with others.
Zoe Dare Hall comments Home swapping is something that I’m new to, but by writing this report with Love Home Swap I’ve had my eyes opened to a whole new experience. To hear that I could potentially save more than £65,000 on holidays over the next 20 years solely from my own home is incredible. For the 84% of consumers that have yet to try it, I would urge them to give it a go not only for the monetary saving, but also because swapping homes can offer travellers the reassurance they are seeking in these uncertain times.
I believe, with the transformation currently witnessed in changing lifestyles, travel patterns and consumer behaviour brought about by Covid-19, home swapping is likely to become one of the key trends to emerge from the pandemic due to the flexibility, sense of security and value for money it offers.