With home exchanges, participants swap homes for a set period for no cost of lodging, points out Ms. Dunnan, and these deals are typically found on the Internet. In addition, guesthouses and bed-and-breakfasts typically cost less than many hotels, while vacation rentals – anything from condos to villas – can be good deals, especially for groups and families seeking space and amenities.
The cost of a vacation rental? Per square foot, it's half the rate of a hotel room, says Jon Gray, vice president for North American business at HomeAway, an online marketplace for vacation rentals based in Austin, Texas.
