Retire To A Hotel - Low Cost Retirement Housing

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Cost of housing in retirement can become very high living on a fixed income. Without savings the choices are limited to moving to a third world country or downsizing your paid off home to fund your retirement living expenses if you don't have enough savings.

Today we share with you if you can retire to a hotel and why this is the prefect low cost retirement housing.

Let's explore alternative solutions to affording housing in retirement.

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It’s not as crazy an idea as one might think. Oddly enough, in 1993 I lived in a hotel. I lived in that hotel for almost 4 years! It was the most stress free living I’d ever experienced. I don’t think the idea of living in a hotel is one that should be dismissed all that quickly these days.

derekcox

This might work for some, but a lot of us seniors are on $1200-$1400 a month. Even if a hotel was $40 a night( which is unheard of)... would have no money left for food. Wouldnt work for me. Thank goodness i bought my house when i was working. I would be out on the streets. God have mercy on the homeless.😢

suekaiser

In my country, a very famous beauty and show host who’s widowed and has no children chose to live in a 5-star hotel suite long term even though she has enough money to buy a luxury flat ir two in town. She said she doesn’t have to do anything except calling room service (for dinner) and concierge (to get her car). It is much more comfortable to live that way. She said she’d never have to worry about being dead for months not being found out.

Jenesis

There’s also the co-housing concept. Two single older women or two single older men sharing a house or apartment. Sharing the rent, food costs, etc. etc.
You do have to get along though 😀😀😀 Happy New Year, 🎉Tina and Norm🎉
❤️🇨🇦

hermacoutts

You are so right. I have an adult child and a grandson living in our house. I would very much like to downsize but for two things. One ..they do not have anywhere else to go they can afford and two ...the places we would like to downsize to would require a mortgage even though our house has been paid for 20yrs. A sad situation in Canada, only to get worse by a huge influx of immigrants and even more homeless people living on the streets. Our government seems totally incompetent to resolve the problem unfortunately.

davidthom

This is a great idea in the short term. Big hotels are owned by investors. Investors want a return on their money. If there is no lease, or long term signed agreement, your housing is in the hands of the Stockmarket. And don't forget for 'long term' guests, extra fees may be imposed such as parking, utilities etc but they will be called 'administration' fees. It doesn't make financial sense for any hotel to rent a room for $2k per month when they can get $100 per night, more on the high season. Also, if a hotel is known for having a large percentage of permanent residents, it may discourage others from staying there. And as for renovations? Where does the long term tenant go? Just a few thoughts.

baconbutty

In the second half of the 19th Century and the early 20th Century a lot of people - mostly men but women as well - lived in hotels in the larger cities.

mrbutch

How grim, a life story. Moved Midwest to Tulsa OK from west coast San Diego. Rent was initially $350 per mon now $1150 for one bedroom with "carport." Now NO opinions covered. Refuge, electricity and water is left up residents. Management raises rents periodically to pay for remolding. As my father once said the "United States would be a great place to live live if were not so expensive." Bottom line adopt or perish!

nrs

Agree, rents are atrocious.. I am England, believe rents in London are sky high.. House prices in middle England are pushing up to 30 grand even in the burbs for a small two bed.. A "nice" area more. Thinking of coming over! LOL. Wonder if Portugal would adopt us? We could share the bills! Its everywhere, you guys are not alone. Have subscribed.. Thank you for sharing. God Bless you both.

emmsue

Very interesting subject. I’ve heard of Seniors living on cruise ships in retirement. This seems more doable to me.

louettahuddleson

We're just fortunate we purchased our home 21 yrs ago for $181k now worth $999k. And my mortgage is $1250. And now me and my husband both retired we want to sell and moved to another country..

theresa

Rent is also skyrocketing in the US. This is a brilliant idea, but, not a new one. Several Hollywood celebrities in the old days lived in
hotels. Mae West was one of them. Let's hope this idea remains an available option and does not become overpriced. I enjoyed your video. Thank you.

eleanorbuck

So…here is another idea….HOSTELS. Although intended for travelers, there are hostels that offer long term stays…also, private rooms that include bathrooms. Otherwise, they are shared. Some hostels may have a limit, but others..particularly in vacation areas..may offer long term stays. We stayed at one..and there was a permanent resident there. And, depending if one is alone or with a family..would determine cost. As an individual, there are long term dorms. That would easily cut that hotel rate you mentioned..in half. Offering to work there. You could be provided a free room by simply offering to manage calls, reservations, and greet people. The hostel I stayed at, provided housing for a couple and their family. This might apply in a hotel, as well.

CoolTaxiDriver

Rents have skyrocketed in London….but elsewhere in the UK they are much better…

griswald

just go to central america or se asia and you can live in a large apartment with a pool and facilities for far less than living monthly in a holiday inn.

paulhefner