By Irene S. Levine, Next Avenue Contributor

When boomers want to escape the 9-to-5 workplace grind and the demands of caregiving for parents and/or kids wane, many dream of traveling. A recent survey found that 59% of retirees look forward to exploring new places during the second part of their lives.

But people soon realize the cost of traveling for extended periods can be daunting, especially when living on a reduced income. Thats why housesitting has become an increasingly popular way to live away from home without the steep pricetag.

(MORE: Boomer Travel Trend: Couchsurfing for Grown-Ups)

What is Housesitting?

Housesitting entails taking care of someone elses property (and possibly their pets) in exchange for your stay.

In the past, it typically took the form of informal arrangements between people who knew each other. Less commonly, individuals or couples were hired by professional agencies that employ housesitters at a salary, usually for long periods of time.

Over the past decade, though, technology has spawned a new model of unpaid housesitting, with websites connecting homeowners and potential sitters for jobs lasting weeks or months at a time.

(MORE: Home-Swapping: Slash Your Travel Costs and Live Like a Local)

This peer-to-peer model is part of the same sharing economy that laid the foundation for successful businesses such as Uber and Airbnb.

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Housesitting: A Fun Way To Travel The World On A Dime