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 the extended stay hotels in particulars. 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 our 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 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
- Private Mortgage Insurance – $100
- 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 one but they are included when living in a hotel.
- Swimming pool
- Fresh towels
- Clean bed sheets
- Hotel Reward Points!!
Negotiate Long Term Hotel Rates
It is possible to negotiate a monthly price, which is good for both you and the hotel. The hotel has extra rooms that they aren’t selling. They need to move them, and they need consistent income. Having long term residents who live in the hotel gives the business that 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 add in 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 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.
Did I miss any savings? Do you think I’m totally out to lunch about living in a hotel? Leave me a comment below…