Hosting is FUCKING hard work.
It really depends on how much you want to 'have a party'. I remember the first time i had a party, about a week into my first term at uni, when i had my own room, in a house of ten or so shared rooms, shared kitchen and showers/loos. I just announced that i was having a party, told the people i had met where and when and ... umm, that was about it as far as preparation goes.
Loads of people came, I remember it as great fun. Someone brought a stereo system, so there was music. Not sure whether there was any food, load of people brought drink, but I'm not a big drinker so no question of hangover. Looking back there is much that i would have done differently, check in with everyone else in the house is probably top of the list, but there is much more.
Another time I hosted a BBQ when I had just moved by myself into a tiny house. Lots of people brought folding seats, i set up a hibachi type grill on a wall outside the front door and was quite busy all night. Only when i woke up the next morning, did it strike me, who actually lit the charcoal, who did the cooking. At the time they were just colleagues, we no longer work together but they have become Lovely, lovely friends, with whom i am still in contact.
I like to think that i have got better at hosting as my life has gone on, nowadays there is a bit lot more preparation, there is always food and soft drinks at least. I'm telling you this because i think that the intention to host is an urge, for something very deep inside. Maybe something akin to wanting to have a child, but much, much less hard work. If you don't feel that urge, maybe better do your socialising one on one? Certainly not only in order to reciprocate, but i would feel uncomfortable if i did not make some effort to reciprocate other invitations. Not like for like, but certainly to reciprocate the, as PP said upthread, come to ours, I would like to welcome you and get to know you better. Actually, though, you don't really get to know people at a party, though, do you? Ponders.....
Why do i love doing it? One of the best feelings in the world when you listen out and know that, while you might have launched it, the party has taken off and has a life of its own.