Do you have a second home that you rarely use?
I like it that way. I don’t want people in my house, I love this house, you might know it better as Summer Boobie Cottage. We built our dream vacation home on Kiawah Island a few years ago and I am loathe to let my children in – let alone other people. I am however seriously considering joining this private club that would allow me to swap my home for time in someone else’s underused dream vacation house. I’m specifically thinking Paris, but I”m flexible.
A new private club – 3rd Home – has a brilliant solution:
What it Is: This is a private club for second home (or third or fourth) owners who want to exchange time in their vacation home for the use of another member’s luxury home. Members “deposit” time they will allow others to use their home and receive “keys”, these “keys” can be used to reserve one of the 3,300 home, with an average value of $2.4 Million, in the club, the number of homes grows daily.
How to Use It: First you’ll need a second home, and a nice one. The minimum home value for entry is $ 500,000. Primary homes are not allowed in the program. The number of keys you will receive is based on the value of your vacation home, as well as the market it resides in, and time of year for the week you deposit. Once you are approved you can deposit weeks and immediately earn keys (as long as they are not off season and are 90 days or more from the date of arrival). These Keys can then be immediately used to reserve another home. There is no need for a direct or simultaneous exchange with another member. The only required cost is an exchange fee of $395-$995 per week depending on the key value of the week you reserve.
Pros: This unique home exchange platform allows second homeowners who previously have felt trapped into vacationing in the same spot every year to experience vacations around the world at a fraction of what a comparable home rental would cost. In addition to offering access to private homes, 3RD HOME is affiliated with 40 resorts allowing you to visit full service properties such as The Ritz Carlton Destination Club.
This is one of their homes in Costa Rica – um, hola.
Cons: Um, you need to have a second home to participate. And you still need to allow others in your home. However, after watching the testimonial videos I’m feeling more comfortable. It is a private club so it’s not like you are renting to the general public and the feedback from other owners is that every guest has treated the home as if it were their own.
This 3rd Home Review post was sponsored by 3rd home, I am honestly considering joining after doing the research, stay tuned.