Would you like to go on holiday and not break the bank? Imagine if you could take a break in the Caribbean or Australia, stay in top class accommodation and not have to pay for hotels and restaurant bills?

The secret is home exchange.

Like all good ideas, it is very simple. Swapping your home with someone abroad means you can have a holiday for just the cost of the flights and spending money. You get to stay in a real home away from the tourist trail while someone is looking after your home.

A number of home exchange companies do business through brochures and the Internet. One of the most established in Ireland is HomeLink.

The latest HomeLink brochure is a massive tome listing houses, villas, apartments, lofts and chalets all over the world. Many of the owners are happy to exchange cars as part of the deal and some are willing to swap pets.

HomeLink was set up in 1953 by people who wanted to travel and experience new cultures without the high costs of accommodation. For a fee of £63 per year, you can put details of your home into their brochure, and the HomeLink website (www.homelink.ie); for an extra £12, they will include a colour photograph.

You submit a description of your home and location, the time of year, length of exchange and where you would like to go. The brochure, printed five times a year, is then sent to around 12,000 subscribers in more than 50 countries.

There is no limit to the number of exchanges you can arrange during the year. When you see a property you would like to visit, you contact the other family directly to make arrangements. The book includes a copy of a simple contract that can be drawn up between parties, describing exactly the terms of the exchange. In the unlikely event of a breakdown in the contract, HomeLink will mediate.

Then the major cost of the exchange is air tickets. You can go as far or as near as you can afford.

When you join HomeLink, your home goes on the Internet within a week for no extra charge. The Internet service means you will be reaching people quicker. There is an option to use the website only and the listing and photograph will cost £40 for the year. The key to the success of home swapping is that it is a reciprocal arrangement between like-minded people, which should ensure mutual respect for the properties . . . hopefully.