Have you ever thought about living in a hotel? Because of the day job that I have, I tend to bounce around from one location to another fairly quickly. There are often times when I am working or going to a class for just a couple of months at a time.
So, of course, I’m not going to put down any type of roots in that instance. I could rent an apartment for a month-to-month lease, but the number and quality of those types of apartments are not always the best.
Why I’m Thinking About Living in a Hotel
So, I started thinking about living in a hotel. I have always been fascinated by extended stay hotels in particular. Every time I drive by one with a sign advertising their weekly rates, I always think about how much money I could save each month by simply just living in a hotel.
I know that living in a hotel is a strange thought, but bear with me for a minute. There are so many little, everyday expenses that cost both homeowners and renters. Let’s be honest, owning a home is very expensive with a lot of things other than the mortgages that we have to pay for each month.
The same is often true for renters but not quite to the same extent. Homeowners and even renters are nickeled and dimed every month with the upkeep, maintenance, and luxuries that fill our homes and lives and drain out budgets one monthly bill at a time. But, that’s not the case living in a hotel. Hotels.com: Download the free Hotels.com app and enjoy up to 50% savings with Secret Prices!Check out how to save over $900 per month by living in a hotel!Click To Tweet
So, just how much could you save by living in a hotel? I’ve put together a quick list of potential monthly expenses that you would not have to pay by living in a hotel.
Monthly Savings From Living in a Hotel
- Electricity – $150
- Water – $25
- Cable with movie channels – $125
- Internet – $40
- Maid Service – $100
- Lawn Care – $100
- Standard Phone Service – $20
- Gym Membership – $40
- Homeowners Insurance – $40 (You should still have renter’s insurance though!!)
- Private Mortgage Insurance – $100
- Home Security Alarm Company – $35
- Breakfast every morning – $150 ($5 x 30)
TOTAL SAVINGS = $925
Extra Benefits from Living in a Hotel
There are a few benefits that you may find a little hard to quantify, or these added luxuries are some things that you wouldn’t normally spend your money on but they are included when living in a hotel.
- Swimming pool
- Fresh towels
- Clean bed sheets
- Save money on garbage and recycling services
- Hotel Reward Points!!
One of My Favorite Extended Stay Hotels
WoodSpring Hotels is the fastest growing extended-stay hotel company in the industry with about 250 extended stay hotels in 36+ states nationally. WoodSpring Hotels offers remarkably affordable nightly, weekly and extended-stay rates, extremely well-maintained all-new construction properties, and a refreshingly simple guest experience.
WoodSpring Hotels fulfills a unique need in the hospitality space, providing budget-conscious consumers with clean, comfortable, practical extended-stay accommodations – all at a reasonable price. At WoodSpring Hotels, all our fully-furnished rooms feature kitchens with a full-size refrigerator and freezer, a two-burner stovetop, and a microwave.
The WoodSpring Hotels’ website allows consumers to book any WoodSpring Suites or Value Place hotel quickly and easily and features detailed property information as well as the latest special offers and deals.
Negotiate Long Term Hotel Rates
It is possible to negotiate a monthly price, which is good for both you and the hotel. Do hotels give discounts for long stays? They do!
Hotels have extra rooms that they aren’t selling. They need to move them, and they need a consistent income. Having long-term residents who live in the hotel gives the business the consistent income they desire. So, don’t forget to haggle for a discount on your room.
The best way to haggle for a discounted long-term room…
- Simply ask for the discount.
- Let the hotel name the first price and then negotiate from there.
- Have your “going in” rate in mind.
- Know how much you’re paying per month at the full rate to start.
- Make sure you consider the perk to keep and accumulate any points you’ve earned in their loyalty programs.
So many of us simply don’t ask for a discount. Just asking can reduce your rate by hundreds of dollars. You’ll never know unless you ask. The worst they can say simply is “No”.
Okay, I readily admit that living long-term in a hotel is not for everyone. And, the figures that I have quoted are taken out of my experiences and daily life, and I admit that everyone probably has some different numbers from their monthly budget. What type or quality of hotel room do you receive for $200 per week or less?
Many people have mortgages that far exceed $800 per month, and their homes are equally as beautiful as the reflected price you pay in mortgages. But, isn’t it an interesting idea to live in a hotel room nevertheless.
Many people do not consider all of the savings that can be an added bonus. Many people do not consider all of the little things that we spend our money on every month when we rent or buy a home. They are items that we tend to take for granted, but these costs can quickly add up. Book Now and Save at hotels.com
Honorable Mentions – Other Ways to Save Money at Hotels
When you book through a company like Orbitz or Travelocity, the hotel pays the travel company a commission for your purchase. As such, if you know the specific hotel you want to stay in, look at their website directly, or call them.
You may be able to save more by going with them directly since they don’t have to pay the commission. Furthermore, if you call, many hotels offer their front desk clerks commissions or other incentives for booking rooms. You may get an eager clerk that can make things work out in your favor if you call ahead.
Other Popular Discounts
Don’t forget the clubs that you’re probably a member of can get you big savings on your hotel stay. First, AAA rates almost every hotel in the country, and also offers discounts to members. Check with the hotel, but there are usually discounted rates for people who are AAA members.
The same applies to Costco, except that Costco has travel services that can allow you to book travel for big discounts. Costco isn’t for small trips, but it works well for big family vacations.
Did I miss any savings? Do you think I’m totally out to lunch about living in a hotel? Leave me a comment below…