Trade Homes 101
Getting Comfortable with Trading Homes
Entrusting Your Home to Strangers
Trade Properties: Tips 1 - 5
1. Get to know the family you will be exchanging with before committing.
Communicate extensively via e-mail and telephone.
If you considering a long term property exchange, 6 months or more,
you may want to invite the other family to visit for a few days.
2. Ask for references. You can e-mail the references but it is probably best to call.
3. To confirm authenticity, you may want to check that the information you receive is accurate.
The Internet provides an easy and accessible medium for
you to validate basic information. For example, you can easily verify a person's address.
Here's a list of some popular white pages:
You can also confirm that someone is really the owner of the property by
contacting the city/county tax office. This information may also be available online.
4. Let your insurance company know. Your insurance company may have some specific requirements such as the need to see
a copy of your guest's driver's license.
Your homeowner's policy likely covers accidental damage caused by guests. In some cases, your
insurer may request an additional fee - especially if it is a long term exchange. It is best to
check with your insurer about the specifics of your contract.
Many property exchanges include the use of a car, and your insurer will usually cover accidents.
If your policy does not cover a third party using your automobile, you may be able to add this coverage.
All policies are different and vary from state to state, province to province and country to country.
Most policies are subject to some type of restriction and limits.
If the damage resulting from an accident exceeds those caps then you may be responsible for the excess.
There may also be legal costs to consider.
If you are planning to exchange your car, it is best to call your insurer to
discuss the details.
5. Try to meet the family you will be exchanging with. For example, you may want to welcome them and spend a
few days together in your home before leaving to stay in theirs.
Part of what makes trading homes unique is the opportunity to build relationships that you may not normally
establish with a conventional holiday.
You'll often hear home exchangers talk about how they've made some great friends via a home trading holiday
or how they wished they had had an opportunity to meet the people they were swapping with.
