Home exchanges gaining popularity as Canadians look for cheaper ways to

As the cost of travel continues to climb, more Canadians are finding creative ways to spend less on their next vacation — with accommodations first on the chopping block.

Instead of booking hotels or short-term rentals, a growing number are swapping their own homes with other travellers, eliminating one of the biggest expenses of any trip.

Calgary teacher Kristy Moore tried her first exchange in Seattle in 2023. She has another booked for Victoria this summer and hopes to visit Japan next year. 

“The rising cost of airfare and accommodation have really put a damper and hindered where I can go. This really opens up the door to places all around the world,” Moore said. 

Unlike short-term rentals, members of a home exchange platform either swap homes directly or earn credits by hosting other travellers, which can be redeemed for another stay. Most charge an annual membership fee rather than a nightly rate. 

Moore said the savings have made longer trips realistic again.

“If you were travelling for two weeks, to save a few thousand dollars on accommodation, might open up some other opportunities that you wouldn’t have been able to do otherwise.” 

Home swapping moves into the mainstream

Affordability is changing how Canadians travel.

A recent CIBC poll found four in 10 Canadians plan to travel this summer, but nearly one-third said rising costs means they’ll likely stay home.

Home exchange companies say financial pressures are helping drive demand.

According to Australia-based People Like Us, Canadian membership increased 20 per cent over the past year, outpacing the platform’s global growth.

“Canada used to be our fifth largest country in the world and now it ’s our second largest,” said co-founder Drew Seitam, in Sydney.

“People are looking for value. They’re still wanting to travel, they’re curious, they want to see the world, but they want to do it in a way that’s sustainable for them and for the planet as well.”

HomeExchange — the very platform that first introduced mainstream audiences to the idea in the 2006 film The Holiday — reported similar growth. 

Canadian membership increased by more than 30 per cent over the past year, according to the company. More than 15,000 home exchanges were planned in Canada over June, July and August, up 29 per cent from the same time last year.

“It’s the most cost effective way for you to put a roof on top of your head during your travel,” said CEO Emmanuel Arnaud, in Paris. 

“Because of the rising travel costs, people are getting more comfortable with getting outside of their comfort zone and try things like home exchanging.”  

He says growth in Canada has outpaced the platform’s global average. Montreal is by far the top destination.

“Quebec is the region globally with the highest…