There are hotel chains that cater to long-term stays such as Hyatt House or Extended Stay America. I lived in one for a couple of months while my house was being renovated. It included a room with a kitchenette, buffet breakfast, housekeeping, self-serve laundry, pool/gym, free wifi, shuttle to shops and airport, and business center with copy/printing services, meeting rooms, mail/package delivery, etc...all for $1500/mo. Many also allow pets. It's a creative solution that makes sense for a lot of people.
Hello you two. I haven't watched in awhile, but enjoy your channel. Sorry to tell you, my wife died 6 weeks ago, at work from a Heart attack. She was fit, not obese, no heart disease. I received a call from her cell phone, I thought it was her. It was her Manager, telling me, she was unconscious, on the floor attended by EMTs . Then she was in ICU in Mississauga for 5 days and then she died. I miss her so much, she is never, ever coming home. She enjoyed your channel. She was retiring in January, and we had so many plans. A boat, a home in the Caribbean. Money, was not an issue. She didn't need to work, but she did. She was 64. Life is truly short. Best laid plans? You 2 are are wonderful together, enjoying Life. Much respect, Mike Toronto
@@ThisIsOurRetirementThank you. I appreciate it. For me the lesson is, don't delay Life, retirement. The only thing for Sure is the Sun coming up every day.
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.😢
It's not just free wifi, it's no utilities, no insurance, no property tax. And probably fairly secure. Never thought about it, but not a bad idea, especially if I'm still mobile.
Very interesting alternative! You would also avoid paying a security deposit upfront, which could be $2K to $3K. You avoid moving expenses associated with furniture, because your room is fully furnished. You don't pay for utilities or maintenance either. And self serve laundry is likely on premises.
And some places permit pets too while traveling so that is even something and some places have garages. The more I think about it, damn, it's better than renting. But not sure how long you are permitted to stay in a hotel. But that is awesome if they let you stay long term. Plus it is also good for the hotels AND another cool thing, is your visitors would have parking much easier than at an apartment!
@@kewlenjo219 Some of my staff members were supporting customers long term so they negotiated monthly rates with hotels and they had the same room for years. It was cheaper to book the room for a month at a time than it was to book Mon-Fri each week. They usually took a 3 day weekend twice a month to spend time at home with family. They kept most of their clothes, shoes and toiletries in the room and traveled home with their laptop in a small backpack. They all had top tier hotel status and millions of hotel points. Periodically the spouse would travel with them and stay at the hotel.
You can also be asked to leave at any time, for any reason. Unlike a leased property. some people prefer the peace of mind ..... I was living at a hotel while remodeling my house and they had to ask me to leave for 2 days because they needed my room to fulfill a reservation for a busload of shoppers from Nicaragua. They were very apologetic and found me a room at another hotel for 2 nights. THAT can't happen with a leased residence. It's up to you ..... some people like the security of knowing they can't be summarily "tossed out".
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.
Living in hotels is just another step towards homelessness in our Country. We need some how to tackle this problem, we will have more people without stable living accommodations than stable ones in the future.
Stay in a hotel, pay with a credit card that accumulates points, and travel once per year with a majority of the costs covered by the points. Sounds like something worth considering. $2K per month = $66-67 per day.
Not everyone can do this but for those that can and plan a nomadic lifestyle it's worth a look see. There are major company credit cards that GIVE hotel points. Use those points while accumulating more hotel points for the stays. This will bump you up in category and give you more perks. Also, be aware of bonus deals. Some places give you the fifth day free so make sure to reserve that fifth day. Always check terms for both the credit card and the connected hotel before you sign up.
I love this idea! You save on electricity, gas, rates, landline phone, water, body corporate fees etc etc. If you don't mind living in a smaller space, it's a no brainer!
In Myrtle Beach, SC USA there are hotels that cater to Canadians and folks up north (we call them "snowbirds") during the slow season (Oct. -- April). The rates are very low. You can stay 6 months in an Oceanfront room -- gorgeous view! -- with kitchen, private balcony, 2 beds , ALL expenses included $1000/month. I know because I work at one such hotel. I know people from up north that stay in our hotel 6 months and then stay in another hotel in another region of the country for 6 months. They are, essentially, homeless...and loving it!
Also (at least in Chicago where I live), if you rent a long term stay (more than 30 days), you do not have to pay the hotel fees/room taxes which are required on short term stays. Also, you get security, parking, electricity, heat, air conditioning, land line, package acceptance at the front desk, towels, sheets, furniture, appliances, maintenance if something breaks, very nice deal. Further, there is normally a nice lobby, event room or restaurant where you could entertain. Also no raking, no shoveling, no lawn mowing, no window washing, etc. I have daydreamed for years about someday doing this.
Thank you for discussing what is now a reality for many seniors like myself. Because of the outrageous increases in rent I can't even afford a studio apartment.
As long as you don't have any stuff, and are content or even happier with just a few clothes, toiletries, the photos on your phone and the books on your kindle, this could work. Some places even take pets. I lived for about a month in a residential hotel with my 2 cats while my place was being repaired after a flood. I had a suite with a kitchenette. It worked wonderfully although I was happy to go home.
Back in the early 50s my grandfather, who was then divorced from my grandmother, lived out his life in a residential hotel. That sort of living arrangement was common even in small (~10,000 people) towns back then. I think it is not a bad idea a long as the residential hotels don't become the new skid row.
i think one need to approach the concept of residential hotel with careful consideration. It will have to be properly managed by people who really knows how to run and maintain a high quality residential hotel. One also needs to ensure the hotel site/building/facilities is suitable for the long term residents needs and preferences. Not all hotels are suitable for residential hotel living. One needs to select a right hotel to convert to residential hotel.
I've heard of people retiring on cruise ships, but maybe retiring in hotels would make even more sense. Maybe you could plan a world tour, living in hotels around the world for a few weeks or months at a time?
Beat me to it! Negotiate a "global rate" with an international group, have an arrngement whete you stay "off peak season", but get an upgrade at those times.
Marriott Towneplace Suites offer extended stays for about $2200 a month. I lived in one with my dog for a year while my house was being rebuilt after a major disaster. They gave me a one bedroom, full kitchen, laundry & cleaning service, breakfast, gym, all the amenities. It is standard practice at these extended stay hotels to reduce the daily rate for an extended stay. It was great! There were several residents who spent their winters in the hotel, and summers at their summer home. It is not an unusual thing to consider. Iimagine being able to live wherever you like seasonally!
Back when I was a student I rented a small flat in a bad area with the financial help of my mother. At one point I seriously considered moving to a residential hotel. When I factored in things like the included meals and housekeeping, it was a surprisingly viable option.
This would also help to get rid of “bad neighbors” too, as hotels can “evict” (refuse service) to anyone causing trouble, without having to go through the very long process via the rental board. You don’t pay, you are out. You are being noisy, bothersome, excessively dirty etc., you are out.
@@thedowagerd.2431 Who is they? The hotel? The hotel can charge whatever they want. If the market supports whatever rates they charge, they will charge it. That's how free market capitalism works. The more competition, the lower the rate the market supports. Basic economics.
Calm down. Anyone considering negotiating with a hotel should have this information. The owner of an apartment can only raise the rent 2.5% per annum unless approved by Ottawa.
I have been living in a hotel/hostel in Central and S America for the past 14 years and love it. The 3d world countries to which you refer are not so 3d world. If I chose to return to the US to live, I would certainly choose to live in the situation you so aptly described. No snow to shovel, no lawn to mow and other advantages. I do not need a lot of room to live in even with a 50 inch tv provided by the owner. It is not stressful at all. Love your ideas. God speed.
A concern about wifi is that the hotel-provided one is often not a secure connection, so you would want to take some precaution before doing any shopping or financial activity online.
There was an internet item going around some time ago that said instead of going to a nursing home, just keep going on cruises. Free food, free medical care, nightly entertainment, dancing, pool, gym, and plenty of company. Some even have stores so you can shop. Decent weather if you like that. AND see the world.
Medical care is not free or included. You have to pay up front when you are seen. You can then use paperwork they give you and send it to your insurance, which may not be helpful if they are in network.
Used to be popular option. But cruises are cranking prices, and upcharging for each service. And the old yes you can stay in your room waiting for next departure, just no food for 2 days while docked is gone.laws require total deembarkation of all passengers end of every cruise.
The system is so rigged against it's citizens!!! My old boss paid 15G for his house in the 60s. I paid 120k in the 90s paid it off in a few years! I feel bad and worry for the younger generation!
It doesn’t matter if it is paid off. The inflated property taxes, insurance, and utilities (not to mention price of food, gas, health insurance, etc) will make you homeless soon enough.
Interesting my childhood home was 900 sq ft for a family of 5, seemed normal. Over the last 20 years homes around where I live are 3000 sq feet and up. Why? My mom was visiting us 30 years ago, she asked me why are the homes so big around here, I told her “that’s all these people have “ a house , that’s all. A house. I forgot to say huge debt!
Interesting idea and doable for some, no doubt. A few problems with living like this though: must keep valuables always on you (unless they fit inside a room safe,) neighbors changing all the time could mean risk / lowered security and you can never be sure who's going in and out of your room because you don't control who has access (privacy.)
The world did go to Hell in a hand basket. I'm a senior and have watched it. I own everything and owe nothing. I inherited my parents home that they bought in1962 for $18,500 that a doctor had built. Very nice. I also own a summer mountain log home on 20 acres that I built from the ground up long ago. Now these days the only reason that things have escalated in price is nothing but sheer greed. The people in this world have become completely complacent. Years ago when I was a child they would have never stood for the BS that's happening now. What happened to these numb skulls?
We helped our daughter get into a condo, instead of renting. In the future we might swap with her and we will take over the condo and she can takeover our mortgage free house and keep paying her condo mortgage and fees. We go to Costa Rica for the winter and then we won't have to worry about a big house when we are gone.
My family never lived in a house. My parents loved to travel w us many times a year. So for this reason as an adult I've never felt the need to own a home. Living in a hotel is usually my dream way to live my stress free life. Thx for sharing this video. Its a reminder to me when the time is right my dream residence is more than possible
You can live on this cruise ship for $30,000/year-less than the average cost of rent in NYC. The MV Gemini boasts 400 cabins and room for up to 1,074 passengers. If you're thinking about moving into a new home or just looking for a change of scenery, you might want to consider this cruise around the world.
Unfortunately, the operator wasn't able to secure the purchase of the ship. This particular 3 year cruise was delayed and then cancelled on Nov 30, without a reschedule date. While refunds were given, some people had rented or sold their homes... There are other residential ships, with incredible itineraries... but at a much higher price...
There was an article in our local Toronto newspaper a couple of days ago about retiring and living on a cruise ship … this idea seems to be gaining traction and might even become more mainstream.
Old idea rich folks did a lot. Now the cruises were unchanging food items, wifi, and even a non alcoholic beverage pkg is pricey. And no longer can you just stay in your cabin for back to back cruising, laws require fill deembarkation while ship is cleaned and inspected for stowaway etc. So that jeans carrying your life on and off, and paying more on boarding fees. For the stateroom per might each person runs 200 to 1600 per might.
I sincerely appreciate your honest review; and also empathize and sympathize with both of you. Thank you for being so honest and frank, at the same time it is heartbreaking how the cost of housing has increased.
😮😮My brother has rented long term hotels for years. His job moves him around the US every few years. He loves the convenience of not having to do household chores and having all the perks mentioned in this video.
We have great resort hotels turned retirement and care facilities here in Thailand…on the beach, swimming pools, gyms, medical assistance where needed, meals, etc all starting at 20,000 baht or about 550 US …definitely not a third world country…lol…but incredibly affordable and welcoming…all English speaking and all levels of care…
But... "In Thailand, lèse-majesté is a crime according to Section 112 of the Thai Criminal Code. It is illegal to defame, insult, or threaten the monarch of Thailand. Modern". I want to be able to bad mouth those in charge.
I stayed at one in Koh Samui after breaking my leg there 2 years ago. It was a LIFE saver being able to order room service twice a day. Plus a super nice pool, gym and sauna/massage once I was able to use. All for around $600/month!
There are also long term rentals of Airbnb or Vrbo. They discount the rate the longer you stay. Plus you have a choice of having a whole house to yourself, garage, backyard etc. Or rent a condo or smaller place there. Still no utilities to pay but you do not have maid service. However, It does give you a little more privacy though.
Thank you for making this video! I'm turning 60 this year, & retiring. It's so frustrating to know that affordability is so hard to come by. I, myself, soooo agree with your wisdom, as a fixed monthly rate at a hotel/motel includes hydro, wi-fi, weekly servics, mainntenence, among other key issues. I've had some people belittle me for wanting to go this route, but it's what's more suitable for myself
Thank you for this information! Very informative and gives us a lot to think about. The only issue I see, is if the hotel changes ownership, that would mean you'd probably lose the present living deal. If you thought of it as long-term temporary, maybe that would work, and prepare for an eventual move. I lived in a hotel Monday-Friday while my employer had me commute from my home in the next state over, and loved it. The mini kitchen was completely equipped, including an 18-inch wide dishwasher, microwave, range/oven and apt. size fridge. Bathroom was large, and the room was decent sized. I loved it! Something to think about for sure.
As a senior living in low income housing I am paying $500/month for a very small apartment that has a market rate of $850/month. The building is very old with many issues, but it's livable. Why I'm trying to get out is because it's just like living in a prison with highly oppressive rules. The harrassment even extends out into the parking lot about how you can or cannot park your car, and threats to tow your vehicle if you don't clean the snow off fast enough. I am looking into communal living elsewhere.
You need to check the prices and rules where you are living. In Los Angeles the hotels can be as much or more than the rentals. Both are high. I know a couple living in a hotel and they have to move to another unit every month so they are not considered permanent residents. It has to do with the landlord's ability to evict people if necessary. If you are low income in a high priced area sometimes you can get very creative and think outside the box. One time when I was a single mom I negotiated with the landlord to convert a business into a home. Zoning permitted it and it worked,
My daughter completed her master's degree in VBC - the prices for housing are almost unattainable. Every homeowner has to rent part of their home to afford the payments. It really is a crisis.
Wow, what an idea. I’d hate it but if that was the only affordable I’d do it. A hotel is much better than living in an RV which seems to be another trend. I am so lucky to have a paid up starter home so am hanging on to it.
Great topic, what you didn't mention is, that if you stay in a chain hotel you get points. My husband worked in Cario for 6 months, staying in an IHG hotel, which brought us up to the platinum level, so we automatically got upgraded on bookings, plus perks. We had a couple of weeks of free nights to use. Happy New Year
Before my husband and I got married, I had a job where I had to stay in hotel a couple of times a week. I had memberrships at different hotels. I had earned enough that we got a free room for our hoeymoon, so if you get points on a long term stay a great way to earn free rooms on 'vacations'.
Get the IHG credit card to pay for your room, instant platinum elite level so you often get upgrades (esp outside US). After 40 nights you get lounge access for 1 year. Free breakfast and “happy hour” which is enough for dinner. You are earning points and more nights while you stay so your benefits keep multiplying. Just make sure the property has the lounge to make most of your status. Pay off the card each month to avoid the interest.
I lived in hotels on Miami Beach for a couple of years back in the 80s before they renovated the deco buildings in South Beach. That was really affordable for a single 20-something back then, and the ocean right outside your window, it was awesome. Even here in my small Wyoming town, affordable rents are so hard to find; I got super lucky to find a studio with a full-size oven (I bake on the side), utilities paid and free wifi. I hope I never have to move again, but if I had to, I wouldn't hesitate to start inquiring at the local hotels and motels. I can always find a kitchen to rent if I had to.
I recall seeing an interview with the late actor Peter O'Toole and he was living in a hotel located in downtown New York, I believe. I thought it odd at the time but today at my age, an idea worth considering.
If you have anything of value, give to a trusted family member or find cheap storage somewhere so that your items won't get stolen by the cleaning crew.
Thanks for the informational video. I had seen an article about a person that needed assisted living started living in a hotel instead of an assisted living place because it was so much cheaper. He got the room for a wheelchair. Also, I read an article about a couple that lived on a cruise ship for years. I think the only way young people are going to buy homes is buying a house with multiple people. My daughter works in social services, and old retirees are becoming homeless in record numbers. It does not help that we have illegal immigrants entering America in droves. Hotel living is becoming an option.
I went to college and still never have brought home $2000 a month. I am 60 now. I can't imagine being on my own and having to rent. My youngest lives on his own and rents. He is an electrician, he took time off to get his forth year and not only did he not get his job back but his rent went up $300 at once!
Great topic. Thanks for the video and discussing the option of hotel stay. It almost seems like a throwback to the 1900-1930's timeframe where living in a hotel was common. I had great-grandparents both here in Canada and in Scotland that were living in hotels in their later years especially when they were widowers.
I've thought that staying long term in a hotel would be a good idea because so much is included. I also like the fact that someone is at the front desk so it's a form of security.
I had read a news article about this several years ago. They were talking about hotels but I also heard of doing this on a cruise ship. I thought the hotel was an interesting idea. The article listed SEVERAL positive aspects of this plan. It was an interesting piece. I printed it out as food for thought.
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.
Boarding houses with full or half board used to be quite common, great for single, particularly elderly, people because it also provided companionship as well as help on hand in case of emergency.
It would be great if boarding houses made a return as my grandmother used to live in a boarding house and she would get three meals a day and she loved it.
The issue is land. Most people think it's all about the structure, but it's land that is expensive in popular areas. It's not possible to build low cost housing of any kind on expensive land. A person can go to many places where an apartment costs $300/mo or buy a house for less than $10k because the land is cheap because few people want to live there.
Exactly what I lived in when I was in my twenties. Also back then people rented a unit called room and kitchen. One that I rented had a folding door over what probably was a closet but was then fitted with a sink ,small fridge and hotplate.
I’ve heard this idea before, only the couple moved around, doing a month or two at each place. You would have to downsize…a lot! Get rid of all those things you once thought made your house a home - memorabilia, heirlooms, etc. Hobbies would be limited. If one of you snores, there’s no place for the other to go. You would still need a real address - the hotel asks for it on check-in. Maybe a PO Box would do - that’s what friends of ours did when they sold everything to live in an RV. It’s definitely cheaper than an assisted living facility, but I’m still hoping to stay in my home for as long as I can.
Great topic! I retired early and have lived in hotels for a couple of years in SE Asia in between leasing apartments for longer periods. I like the convenience of hotel living- no bedding laundry, maid service, security and no bills to deal with (electric, water, Internet) Negatives were no kitchen and a few noisy neighbors.
Hello! I very much enjoy your channel! This is a fascinating idea. I've also read that some people are also retiring to cruise ships. They literally get on the ship and stay on it...for way less than assisted living. They get all the food they can eat, daily cleaning service, access to a gym and multiple pools, and access to the ship's doctor. With senior and frequency discounts, they do quite well. I wonder if you've looked into that for a future episode?
Thanks for the interesting ideas. There is a group in Ontario called Senior Women Living Together that matches seniors looking to rent a place or share a house. Happy New Year Norm & Tina!
I have often wondered why old people who are faced with any or all of the not uncommon realities such as; being unable to afford the rent of their longtime home, not being able to afford the upkeep or payments for their longtime home, the house / garden work being too much for one person, being unable to afford help, loneliness etc… why don’t they get flat mates or house mates like young people do?
When I stay somewhere, I usually only want coffee for breakfast so the breakfast bar food I take to my room is my lunch really. My hubs is off to training or church stuff he does so I don't have our car and I often don't want to risk leaving the hotel to go into an unfamiliar area to get some junk. Then the one meal we have to get is Supper. We are older now and often split an entree. I get a side salad to round it out. It's been true for us that we cannot hold as much food as we used to. We are masters at meal stretching and economizing by now.
Interesting you say David Bow-ee. We used to say Boh-ie. We had a classmate named David Bowie and he said it like you so that he wasn't getting confused with the singer. We live in the east GTA. Moved in 2009, $314K, 4 bd, 2 car garage, 1980s subdivision home. A little more than 3x our income but we knew our income would be increasing. This same house is now "worth" $950K-$1M! It wasn't our 1st home but we wouldn't be able to afford to buy it now. My daughter's friend had a house fire and the family lived in a hotel suite for 6 months. It was awesome!
I’m reminded of Ronald Reagan’s name (RAY-gen) being pronounced "REE-gen" by some. A person’s name is pronounced as he or she pronounced it. It’s not optional for each speaker. Poor Bowie must be spinning in his grave.
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🎉 ❤️🇨🇦
This is a great idea. How cool is this? We do need to think outside the box, as they say. Another point might be that if the hotel is not in Toronto or Vancouver, I imagine that the rental cost could be proportionately less. Yes... this idea starts to sound more and more attractive.....thanks, Teen.
I’ve retired to an assisted living home with a fixed rent and a state subsidy for long term care. All inclusive and unlike with a motel, I don’t have to check out at the end of every month. This is possible because the government saves a great deal of money over paying for a nursing home and the state provides oversight to protect residents. A good value if you’ve Medicaid, which for most people in America is the only payer for long term care. Medicare pays for only three months.
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.
Building permits take much too long to get in Canada and yet the federal government is intent on allowing way more immigration than our building capacity can keep up with. It's all backlogged and keeps getting worse. Also, foreign buyers are still allowed to purchase property outside the major metropolitan areas and there is a lot of money laundering going on with back room deals with our politicians benefitting (eg last British Columbia scandal). Something like 60% of housing is purchased by investors- much of which stands empty or is rented out as Airbnb's. Something like 80% of our politicians own multiple investment properties so they gain from these policies. People who already own homes like the capital gains, if only on paper, that they are getting from the inflated prices- they take out second mortgages based on the inflated prices and either spend it on vacations or more investment properties- all these people are also voters that politicians have to appease if they want to get reelected. It's not only a problem for our government to resolve but it's a problem they created in the first place through corruption, bad policies and in fact a global agenda that current Canadian politicians ascribe to, towards the deliberate removal of personal property ownership in all realms. Unfortunately, it is such a mess now, I think it will be at least a generation until it gets better, if it ever does. And no, I'm not waiting for our government to resolve this because this housing crisis is exactly what they wanted. It's by design.@@stormyweather2807
We have been living in our small rv for 9 years traveling around Canada and the US. Definitely more affordable and a new backyard when we want, mostly staye parks. Then we put it in storaget o travel abroad. .
I do some travel for work and most places charge 125 to 150 a night. Most of the ones that will do monthly at 2000 to 2500 are in bad areas and the fact that they are cheep draws in the once that lets say are not the best Nabors to have.
My husband and I were just talking about this with his elderly Aunt! How timely! I enjoy your channel-looking to retire in 5-7 more years and you have really covered a lot of topics-thank you! (I really enjoyed the train trip videos)
But now I just checked and it is like over $3,000 per month for extended stay hotels, like cheapest $116 per night with a membership. Cheaper to go to Thailand or something like that.
Hi Tina and Norm, I have thought about this idea too. I am not retiring yet but I do think it might be a good idea for some hotels to turn whole or part of their buildings into an affordable, high quality lifestyle for elderly people to retire to. It will be also good if the rooms is fitted like a hospital room (with the option of in-house medical and nursing care) so that one do not need to move to a hospital if one need medical or nursing care.
As soon as you add a nurse or a doctor to the mix, the place becomes an expensive nursing home. My son and his wife lived in one as a young couple (along with 2 other couples in diff apartments of course) whose job it was to "help" 2x a week serving dinner in the dining room and if there were any emergencies at night. It was a refurbished motel with all the inner doors going inside the halls. They lived there for free for 5 years while he was in Pharmacy school. It was the best thing ever. His wife is a nurse so that was a total bonus for the place. After he graduated and moved on, they started hiring couples where one was in the Pharmacy college bc it was so perfect with my son and his wife.
@@boysrus61 It need not be expensive for nursing or medical care. For example the residents could pay a small monthly insurance like subscription to the in-house medical/nursing team, even when they don’t need medical/nursing care. So, they don’t have to worry about making payments if they need any emergency/non emergency care or when they need medical/nursing care. It could also be run like a hotel with a bit of modification. For example - the longer one stays, the more free nights one gets. It will cater to all types of budget or no budget. Free medical/nursing care package could also be arranged or provided for some residents as part of their stay package.
That’s the thing the hotels that are clean and decent aren’t cheaper than renting a regular place to live. I watched a video recently that indicated the rooms were about $2000 a month. That didn’t include any place to cook or do laundry.
@@WATCHLLS One should also explore the possibility “owning” a four or five star hotel room (that has been turned into long term residential hotel) for a period of time and at the same time not having to worry about the monthly high rentals.
Years ago, we owned a vacation home for a few years. It was lovely, but a total waste of money because we only used it for 3 to 4 months a year. It was significantly less expensive to negotiate a monthly rate for an extended stay hotel (with kitchenette) and spend a month or two working remotely in different locations.
Here in the Midwest the "efficiency" hotels with a 2-burner cooktop & a fridge is $1600/mo., and wifi is not free. No cleaning, no meals, and generally have a lot of crime. Fixed low income socially security is only $2,000 per month.
I have a friend who has lived in a hotel for a few years now...She likes it! I thought it was strange, but for reasons you suggested it can make sense!! Happy New Year and enjoy Portugal!!
There are seniors who live on cruise ships too. All food and soft drinks included, cleaning and utility bills included too and there’s a medical clinic (although usually not equipped to handle serious cases) but given the horrendous rental costs, a cruise ship isn’t as mad as it sounds.
Cheers to you both! I've always said that a little thought and creativity will solve most of your problems. What a great idea! Another benefit to living in a hotel in retirement is that there are tyipcally elevators, so you can avoid stairs. Complications of falling-- which happens often with stairs-- is a big medical risk as people become elderly. Since I've learned this, my plan was to downsize to a rambler-style one-story home down the road, but I've recently heard there's a shortage of this style home, so a hotel sounds like a great alternative. You'd probably get free TP, shampoo, etc. No property taxes, like you said. Renter's insurance instead of homeowner's insurance. You wouldn't have to pay an energy bill for heat or AC. I wonder how hard it is to find a place like this that allows pets.
Great topic and great information. I am a 72 year old man, I own a one bedroom apartment on Vancouver Island. Since retiring 17 years ago I travel outside Canada for 6 months of the year and live in hotels all over the place. I love the relaxed, carefree lifestyle. When I return to Canada I live in my apartment I really enjoy you channel and always look forward to new content. Happy New Year to you both and all the best. :-) :-)
What a delightful couple! Me and my wife are 61 and wondering what’s next. Would enjoy meeting you and other “outside the boxers” in the future. Sure don’t need the typical retirement plan, especially if we’re healthy.
Hi Tin & Norm :). Rents have tripled here in Ottawa. It's most definitely a crisis. Come to think of it, Tina... that's not a bad idea at all. When I was in Portugal, I visited Sagres and stayed the night at The Navigator. They charged me €20. 20 x 31 (days) would have been €620 for the month... it had a separate bedroom and balcony and a large kitchen. Mind you, the place could have used an update but when it comes to saving money... that was a great deal and if you do stay someplace like that for several months you can afford to buy a few things to cheer up the place! Wifi included! All the Best for a Happy & Healthy New Year to You Both xo
I know you are talking about mostly retirees, but The solution to first time buyer homeownership in Canada and the US is the building of more small properties or Starter homes. My first home was affordable because it was a 640 square foot condo. Now all of the homes being built are over 2000 square feet. I think they should require home developers to set aside 25% of their new home inventory to homes 1200 square feet or less.
I am schocked when I see TH-cam host that are living in what looks to be huge houses and with their one or two chidlren. I wonder how they can afford it, as homes like that in my area would be going for half a million or more. Who earns that kind of money????
$2,000 a month in a hotel is not a bad deal, especially if there is a kitchen in the room. As for breakfast that many of these places provide, that's not much of a plus when you consider the crappy food on offer.
I know someone here in NE FL who lives full time in a Marriott Courtyard I think it is. They retired from NJ. They negotiated a long term rate. Not sure what their ultimate plan is but they’ve been there for at least 4 years now I think.
I'm actually considering this arrangement for my retirement. But it most likely would be in Mexico for economic reasons. It's so much cheaper and splurging on airline tickets back to the US a few times a year wouldn't be a problem. That also means I don't need to worry about citizenship requirements etc. I would just be considered a tourist.
I tried living in Ecuador but only stayed for 3 months. It didn't work out for a number of reasons. I like the idea of living in Mexico on and off. Do you have a particular area you are interested in?
@@maryc1952 I'm thinking of Acapulco. I was there a few years ago. I met lots of Americans and Canadians living at my hotel which was located 3 blocks from the ocean and across the street from a Walmart Supercenter.
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.
As I understand it, here in the UK and across Europe I think, a tax called VAT is added to hotel stays (at 20%) but it applies for stays of less than 30 days. If this is accurate, stays of a month or more should be considerably less costly than may be expected. Of course, if people have any possessions beyong a suitcase of clothes, storage costs would need to be added.
Fascinating...I'm just thinking about some of the other things you would save on that you may not have even mentioned like electricity, water, heat/air conditioning, maintenance/repairs, furniture (!), linens, soap, shampoo, toilet paper...
Hi Norm and Tina: I don’t have the T-shirt but I was lucky to see Bowie live in the eighties. Fortunate to have been to hundreds of concerts/festivals and still going. I have spent too much time in hotels to live in one plus they are not that comfortable. We need our own stuff. Investments and steady retirement income will hopefully pay for our rents down the road. Have a great day! Cheers
We also like our own stuff Paul , nice to have our apartment to keep as a home base . But it could work for others great topic to talk about Happy New Year 🥳☕️🥂to you both 🙂
Thank heavens I paid off my 3 bedroom 1 bath condo here in West Michigan prior to retiring last year at age 68! I got it when I got divorced in 2017 for $145,000 & now could probably sell it for $220,000. It's crazy how quickly housing prices go up! My oldest grandkids are 24 & 22 & are wondering how they'll be able to afford a house as they get older.
@@Jane5720that’s true, especially if you live in a high rise condo in Florida. For the rest of the US it’s a good alternative for someone who is getting to an age where maintaining a home and yard becomes difficult. Not having to negotiate stairs also becomes a huge benefit as you grow older. It is much cheaper than assisted living and often times can provide amenities you don’t have with a stand alone home. It’s also more environmentally conscious to live in a shared space community than in stand alone homes. As long as you do your homework before purchasing a condo you should be fine. Some things to look for are; when the latest reserve study was completed, whether or not the reserve is fully funded, how the building has been maintained, if a high rise - when the last structural integrity inspection has occurred and what were the findings and a review their bylaws. I would not, for example, wish to buy into any association that allows an investment company to own a majority share, or one that allows short term rentals. These types of investors can detract from the community, put strain on the shared spaces and are not interested in the long term sustainability of the property.
This seems like a really good idea for those who choose it, rather than those forced into it by circumstance. As with everything it's about attitude and mindset. For me it's cheaper to rent a studio unit but it may not be in other countries....in which case this is an option which I can see has many advantages. Great video! 😊👍
There are hotel chains that cater to long-term stays such as Hyatt House or Extended Stay America. I lived in one for a couple of months while my house was being renovated. It included a room with a kitchenette, buffet breakfast, housekeeping, self-serve laundry, pool/gym, free wifi, shuttle to shops and airport, and business center with copy/printing services, meeting rooms, mail/package delivery, etc...all for $1500/mo. Many also allow pets. It's a creative solution that makes sense for a lot of people.
What a great deal.
If they allow pets not Long you won't be able to get a hotel room it will be so popular
Too much!!
Sounds a great deal Linda that is what we were talking about all included , it could be an option for many people Happy New Year 🥳☕️🥂🇺🇸🇨🇦
That's affordable than even renting in Calgary. Maybe it is worth looking into it if there's one hotel in Calgary that would do it
Hello you two. I haven't watched in awhile, but enjoy your channel.
Sorry to tell you, my wife died 6 weeks ago, at work from a Heart attack. She was fit, not obese, no heart disease. I received a call from her cell phone, I thought it was her. It was her Manager, telling me, she was unconscious, on the floor attended by EMTs . Then she was in ICU in Mississauga for 5 days and then she died. I miss her so much, she is never, ever coming home.
She enjoyed your channel. She was retiring in January, and we had so many plans. A boat, a home in the Caribbean. Money, was not an issue. She didn't need to work, but she did. She was 64.
Life is truly short. Best laid plans?
You 2 are are wonderful together, enjoying Life.
Much respect,
Mike
Toronto
We are so sorry Mike, what a terrible loss we are speechless but send our sincere condolence's. 💕
@@ThisIsOurRetirementThank you. I appreciate it. For me the lesson is, don't delay Life, retirement. The only thing for Sure is the Sun coming up every day.
I’m so sorry for your great loss. May God comfort your heart as only He can. God bless
Im so sorry for your loss. It is so hard to go through this loss. May God bless.and give you strength and comfort
My condolences to you and your family. 🙏🏽
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.😢
I agree!
Couldn’t you rent your house out to supplement your income?
If you haven't bought a house and paid it off by the time you retire you are in big trouble ?😢
It would work easily if you move to Thailand Vietnam Philippines etc.
It's not just free wifi, it's no utilities, no insurance, no property tax. And probably fairly secure. Never thought about it, but not a bad idea, especially if I'm still mobile.
And no home repairs or lawn service
oh - excellent point! @@teresafontenot7137
I have thought about this for a few years. Made sense to me.
Might even have a pool or hot tub to enjoy.
I'm currently living in a motel. I'm enjoying the hot, deep baths.
Very interesting alternative! You would also avoid paying a security deposit upfront, which could be $2K to $3K. You avoid moving expenses associated with furniture, because your room is fully furnished. You don't pay for utilities or maintenance either. And self serve laundry is likely on premises.
sounds a good idea to me !
And some places permit pets too while traveling so that is even something and some places have garages. The more I think about it, damn, it's better than renting. But not sure how long you are permitted to stay in a hotel. But that is awesome if they let you stay long term. Plus it is also good for the hotels AND another cool thing, is your visitors would have parking much easier than at an apartment!
@@kewlenjo219 Some of my staff members were supporting customers long term so they negotiated monthly rates with hotels and they had the same room for years. It was cheaper to book the room for a month at a time than it was to book Mon-Fri each week. They usually took a 3 day weekend twice a month to spend time at home with family. They kept most of their clothes, shoes and toiletries in the room and traveled home with their laptop in a small backpack. They all had top tier hotel status and millions of hotel points. Periodically the spouse would travel with them and stay at the hotel.
You can also be asked to leave at any time, for any reason. Unlike a leased property. some people prefer the peace of mind ..... I was living at a hotel while remodeling my house and they had to ask me to leave for 2 days because they needed my room to fulfill a reservation for a busload of shoppers from Nicaragua. They were very apologetic and found me a room at another hotel for 2 nights. THAT can't happen with a leased residence. It's up to you ..... some people like the security of knowing they can't be summarily "tossed out".
@@jamesfry4058Yes, it was sounding good until that thought crossed my mind...
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.
Thanks for sharing Derek Happy New Year 🥳☕️🥂
Surely the thing to do is move hotel so you are in a hotel with sunshine during the winter months. Each winter you could try a different location.
how can it be stress free with new people renting rooms next to you every day.
Living in hotels is just another step towards homelessness in our Country. We need some how to tackle this problem, we will have more people without stable living accommodations than stable ones in the future.
And some offer free breakfast!
Stay in a hotel, pay with a credit card that accumulates points, and travel once per year with a majority of the costs covered by the points. Sounds like something worth considering. $2K per month = $66-67 per day.
There's an influencer couple on TH-cam that does that.
Jph8291
That is exactly the amt. My 98 year old father pays monthly for his nursing home!
Not everyone can do this but for those that can and plan a nomadic lifestyle it's worth a look see. There are major company credit cards that GIVE hotel points. Use those points while accumulating more hotel points for the stays. This will bump you up in category and give you more perks. Also, be aware of bonus deals. Some places give you the fifth day free so make sure to reserve that fifth day. Always check terms for both the credit card and the connected hotel before you sign up.
@@sjbutler2330 Gee, where is that? It's a steal!!!
Jpg 8291
Dearnes home, London ont canada. 5yr. Waiting list. I bedroom shared bathroom.
Excellent facility.
I love this idea! You save on electricity, gas, rates, landline phone, water, body corporate fees etc etc. If you don't mind living in a smaller space, it's a no brainer!
In Myrtle Beach, SC USA there are hotels that cater to Canadians and folks up north (we call them "snowbirds") during the slow season (Oct. -- April). The rates are very low. You can stay 6 months in an Oceanfront room -- gorgeous view! -- with kitchen, private balcony, 2 beds , ALL expenses included $1000/month. I know because I work at one such hotel. I know people from up north that stay in our hotel 6 months and then stay in another hotel in another region of the country for 6 months. They are, essentially, homeless...and loving it!
Homeless or have multiple homes in different locations?
Would love to know the hotel in Myrtle Beach for that price.
Snowbirds are not homeless, they have home to go home to, during summer in Canada.
Wow!
How to find out about those types of hotel?
Also (at least in Chicago where I live), if you rent a long term stay (more than 30 days), you do not have to pay the hotel fees/room taxes which are required on short term stays.
Also, you get security, parking, electricity, heat, air conditioning, land line, package acceptance at the front desk, towels, sheets, furniture, appliances, maintenance if something breaks, very nice deal. Further, there is normally a nice lobby, event room or restaurant where you could entertain. Also no raking, no shoveling, no lawn mowing, no window washing, etc.
I have daydreamed for years about someday doing this.
Doesn’t it sound like a wonderful life Happy New Year 🇺🇸🥂🥳☕️🇨🇦
Don’t tell everyone these places will jack up the fees and you won’t be able to go there anymore, LOL
@@StardelEste They are already jacking up the prices.
I wouldn’t want the hotel sheets or the bed! Heard too many horro9r stories!
It depends on what level of hotel you get. @@susankievman642
Makes sense. Biggest advantage would be no property tax, utilities, insurance or HOA fees. And, peace of mind. It can work well for alot of people.
Thank you for discussing what is now a reality for many seniors like myself. Because of the outrageous increases in rent I can't even afford a studio apartment.
It is a tough situation Kathy we hope you find somewhere ☕️🙂
I'm considering nomadic slow tourism. Sell my stuff, and travel the world on a passport.
Driven by mass immigration. Supply and demand.
If you're paying $100 a day for a hotel, that's $3000 per month, $36,000 per year.
@@karlabritfeld7104 Yep. You can slow travel for that.
As long as you don't have any stuff, and are content or even happier with just a few clothes, toiletries, the photos on your phone and the books on your kindle, this could work. Some places even take pets. I lived for about a month in a residential hotel with my 2 cats while my place was being repaired after a flood. I had a suite with a kitchenette. It worked wonderfully although I was happy to go home.
Back in the early 50s my grandfather, who was then divorced from my grandmother, lived out his life in a residential hotel. That sort of living arrangement was common even in small (~10,000 people) towns back then. I think it is not a bad idea a long as the residential hotels don't become the new skid row.
It’s like a retirement home without the extravagant cost.
Have you seen what has happened in New York City
Very interesting Todd Happy New Year ☕️🥳🥂
i think one need to approach the concept of residential hotel with careful consideration. It will have to be properly managed by people who really knows how to run and maintain a high quality residential hotel. One also needs to ensure the hotel site/building/facilities is suitable for the long term residents needs and preferences. Not all hotels are suitable for residential hotel living. One needs to select a right hotel to convert to residential hotel.
I love the idea of living in a hotel during retirement. The biggest challenge is finding a decent hotel at a reasonable price.
I've heard of people retiring on cruise ships, but maybe retiring in hotels would make even more sense. Maybe you could plan a world tour, living in hotels around the world for a few weeks or months at a time?
Beat me to it!
Negotiate a "global rate" with an international group, have an arrngement whete you stay "off peak season", but get an upgrade at those times.
Marriott Towneplace Suites offer extended stays for about $2200 a month. I lived in one with my dog for a year while my house was being rebuilt after a major disaster. They gave me a one bedroom, full kitchen, laundry & cleaning service, breakfast, gym, all the amenities. It is standard practice at these extended stay hotels to reduce the daily rate for an extended stay. It was great! There were several residents who spent their winters in the hotel, and summers at their summer home. It is not an unusual thing to consider. Iimagine being able to live wherever you like seasonally!
What city?
Back when I was a student I rented a small flat in a bad area with the financial help of my mother. At one point I seriously considered moving to a residential hotel. When I factored in things like the included meals and housekeeping, it was a surprisingly viable option.
This would also help to get rid of “bad neighbors” too, as hotels can “evict” (refuse service) to anyone causing trouble, without having to go through the very long process via the rental board. You don’t pay, you are out. You are being noisy, bothersome, excessively dirty etc., you are out.
That can be used on you too, unfairly. Is there a cap on how much they can raise the rent each year?
@@thedowagerd.2431 Who is they? The hotel? The hotel can charge whatever they want. If the market supports whatever rates they charge, they will charge it. That's how free market capitalism works. The more competition, the lower the rate the market supports. Basic economics.
Calm down. Anyone considering negotiating with a hotel should have this information. The owner of an apartment can only raise the rent 2.5% per annum unless approved by Ottawa.
@@thedowagerd.2431 Assuming everyone lives in Ottawa or Ontario. I forgot, it’s the center of the universe 😂
I have been living in a hotel/hostel in Central and S America for the past 14 years and love it. The 3d world countries to which you refer are not so 3d world. If I chose to return to the US to live, I would certainly choose to live in the situation you so aptly described. No snow to shovel, no lawn to mow and other advantages. I do not need a lot of room to live in even with a 50 inch tv provided by the owner. It is not stressful at all. Love your ideas. God speed.
Do you speak Spanish?
A concern about wifi is that the hotel-provided one is often not a secure connection, so you would want to take some precaution before doing any shopping or financial activity online.
We would suggest you use a VPN 🙂☕️
There was an internet item going around some time ago that said instead of going to a nursing home, just keep going on cruises. Free food, free medical care, nightly entertainment, dancing, pool, gym, and plenty of company. Some even have stores so you can shop. Decent weather if you like that. AND see the world.
It makes a lot of sense.
Of course it's not free food, it comes with the package you've paid.
If you feel good enough to do all that on a cruise.... why would you need a nursing home?
Medical care is not free or included. You have to pay up front when you are seen. You can then use paperwork they give you and send it to your insurance, which may not be helpful if they are in network.
Used to be popular option. But cruises are cranking prices, and upcharging for each service. And the old yes you can stay in your room waiting for next departure, just no food for 2 days while docked is gone.laws require total deembarkation of all passengers end of every cruise.
The system is so rigged against it's citizens!!! My old boss paid 15G for his house in the 60s. I paid 120k in the 90s paid it off in a few years! I feel bad and worry for the younger generation!
We agree Paul Cheers 🙂🍻
It doesn’t matter if it is paid off. The inflated property taxes, insurance, and utilities (not to mention price of food, gas, health insurance, etc) will make you homeless soon enough.
Well if it's paid off at least you don't have to make that monthly mortgage payment. And can start investing for your retirement! @@karynsperry7676
Interesting my childhood home was 900 sq ft for a family of 5, seemed normal. Over the last 20 years homes around where I live are 3000 sq feet and up. Why? My mom was visiting us 30 years ago, she asked me why are the homes so big around here, I told her “that’s all these people have “ a house , that’s all. A house. I forgot to say huge debt!
@@karynsperry7676the power of negative thoughts…
Interesting idea and doable for some, no doubt. A few problems with living like this though: must keep valuables always on you (unless they fit inside a room safe,) neighbors changing all the time could mean risk / lowered security and you can never be sure who's going in and out of your room because you don't control who has access (privacy.)
The world did go to Hell in a hand basket. I'm a senior and have watched it. I own everything and owe nothing.
I inherited my parents home that they bought in1962 for $18,500 that a doctor had built. Very nice. I also own a summer mountain log home on 20 acres that I built from the ground up long ago. Now these days the only reason that things have escalated in price is nothing but sheer greed. The people in this world have become completely complacent. Years ago when I was a child they would have never stood for the BS that's happening now. What happened to these numb skulls?
We helped our daughter get into a condo, instead of renting. In the future we might swap with her and we will take over the condo and she can takeover our mortgage free house and keep paying her condo mortgage and fees. We go to Costa Rica for the winter and then we won't have to worry about a big house when we are gone.
My family never lived in a house. My parents loved to travel w us many times a year. So for this reason as an adult I've never felt the need to own a home. Living in a hotel is usually my dream way to live my stress free life. Thx for sharing this video. Its a reminder to me when the time is right my dream residence is more than possible
Glad you enjoyed it thanks for sharing your story Cheers 🇨🇦☕️🙂
Not to mention A/C, Water, Electricity, wake up service, if a kitchen - Pots&pans&silver, and more
All included awesome 🙂☕️
You can live on this cruise ship for $30,000/year-less than the average cost of rent in NYC. The MV Gemini boasts 400 cabins and room for up to 1,074 passengers. If you're thinking about moving into a new home or just looking for a change of scenery, you might want to consider this cruise around the world.
Sounds awesome and scary!
Unfortunately, the operator wasn't able to secure the purchase of the ship. This particular 3 year cruise was delayed and then cancelled on Nov 30, without a reschedule date. While refunds were given, some people had rented or sold their homes...
There are other residential ships, with incredible itineraries... but at a much higher price...
There was an article in our local Toronto newspaper a couple of days ago about retiring and living on a cruise ship … this idea seems to be gaining traction and might even become more mainstream.
Old idea rich folks did a lot. Now the cruises were unchanging food items, wifi, and even a non alcoholic beverage pkg is pricey. And no longer can you just stay in your cabin for back to back cruising, laws require fill deembarkation while ship is cleaned and inspected for stowaway etc. So that jeans carrying your life on and off, and paying more on boarding fees. For the stateroom per might each person runs 200 to 1600 per might.
Creative! My friend is staying in a hotel in Tucson for months and she said... “this is the cheapest way to rent and I’m loving it!”
I sincerely appreciate your honest review; and also empathize and sympathize with both of you. Thank you for being so honest and frank, at the same time it is heartbreaking how the cost of housing has increased.
😮😮My brother has rented long term hotels for years. His job moves him around the US every few years. He loves the convenience of not having to do household chores and having all the perks mentioned in this video.
Wow, what a great idea. The people benefit & the hotels have a continuous flow of income. Spread the word! Thanks Tina & Norm. 🎉
You are so welcome! Happy New Year 🥳☕️🥂
We have great resort hotels turned retirement and care facilities here in Thailand…on the beach, swimming pools, gyms, medical assistance where needed, meals, etc all starting at 20,000 baht or about 550 US …definitely not a third world country…lol…but incredibly affordable and welcoming…all English speaking and all levels of care…
But... "In Thailand, lèse-majesté is a crime according to Section 112 of the Thai Criminal Code. It is illegal to defame, insult, or threaten the monarch of Thailand. Modern". I want to be able to bad mouth those in charge.
@@johnnyfive1412 haha….however it doesn’t apply to those with mental health issues…
Sounds great!
I stayed at one in Koh Samui after breaking my leg there 2 years ago. It was a LIFE saver being able to order room service twice a day. Plus a super nice pool, gym and sauna/massage once I was able to use. All for around $600/month!
There are also long term rentals of Airbnb or Vrbo. They discount the rate the longer you stay. Plus you have a choice of having a whole house to yourself, garage, backyard etc. Or rent a condo or smaller place there. Still no utilities to pay but you do not have maid service. However, It does give you a little more privacy though.
Thank you for making this video! I'm turning 60 this year, & retiring. It's so frustrating to know that affordability is so hard to come by. I, myself, soooo agree with your wisdom, as a fixed monthly rate at a hotel/motel includes hydro, wi-fi, weekly servics, mainntenence, among other key issues. I've had some people belittle me for wanting to go this route, but it's what's more suitable for myself
I think it’s a great idea! Ignore your friends.
Will your friends opinions mean anything 10 yrs from now? Will they still be in the picture? Do your own thing.
Thank you for this information! Very informative and gives us a lot to think about. The only issue I see, is if the hotel changes ownership, that would mean you'd probably lose the present living deal. If you thought of it as long-term temporary, maybe that would work, and prepare for an eventual move. I lived in a hotel Monday-Friday while my employer had me commute from my home in the next state over, and loved it. The mini kitchen was completely equipped, including an 18-inch wide dishwasher, microwave, range/oven and apt. size fridge. Bathroom was large, and the room was decent sized. I loved it! Something to think about for sure.
If that was to happen they would look after existing tenants, how often do you hear of say Holiday inn changing hands 🤔Cheers 🙂
As a senior living in low income housing I am paying $500/month for a very small apartment that has a market rate of $850/month. The building is very old with many issues, but it's livable. Why I'm trying to get out is because it's just like living in a prison with highly oppressive rules. The harrassment even extends out into the parking lot about how you can or cannot park your car, and threats to tow your vehicle if you don't clean the snow off fast enough. I am looking into communal living elsewhere.
That is very sad to hear Kathleen we hope you find a new place to live Cheers 🙂☕️
I live in senior Apts and love it, probably depends on where, people that work here are wonderful
Sorry to hear. Don’t give up on something better and best of luck
You need to check the prices and rules where you are living. In Los Angeles the hotels can be as much or more than the rentals. Both are high. I know a couple living in a hotel and they have to move to another unit every month so they are not considered permanent residents. It has to do with the landlord's ability to evict people if necessary. If you are low income in a high priced area sometimes you can get very creative and think outside the box. One time when I was a single mom I negotiated with the landlord to convert a business into a home. Zoning permitted it and it worked,
My daughter completed her master's degree in VBC - the prices for housing are almost unattainable. Every homeowner has to rent part of their home to afford the payments. It really is a crisis.
In the early 1900’s there were residential hotels in major US cities. Families with children even lived in them.
Wow, what an idea. I’d hate it but if that was the only affordable I’d do it. A hotel is much better than living in an RV which seems to be another trend. I am so lucky to have a paid up starter home so am hanging on to it.
We are facing this in the U.S. also, at least in the West where I live. Every idea needs to be explored. Interesting video.
Great topic, what you didn't mention is, that if you stay in a chain hotel you get points.
My husband worked in Cario for 6 months, staying in an IHG hotel, which brought us up to the platinum level, so we automatically got upgraded on bookings, plus perks. We had a couple of weeks of free nights to use.
Happy New Year
Great point perks equals money! Thanks for sharing this Mandy!
Happy New Years Tina and Norm! Great podcast.
We stayed fora negotiated monthly rate in Hong Kong. Part of the deal was no points…
Before my husband and I got married, I had a job where I had to stay in hotel a couple of times a week. I had memberrships at different hotels. I had earned enough that we got a free room for our hoeymoon, so if you get points on a long term stay a great way to earn free rooms on 'vacations'.
Get the IHG credit card to pay for your room, instant platinum elite level so you often get upgrades (esp outside US). After 40 nights you get lounge access for 1 year. Free breakfast and “happy hour” which is enough for dinner. You are earning points and more nights while you stay so your benefits keep multiplying. Just make sure the property has the lounge to make most of your status. Pay off the card each month to avoid the interest.
I lived in hotels on Miami Beach for a couple of years back in the 80s before they renovated the deco buildings in South Beach. That was really affordable for a single 20-something back then, and the ocean right outside your window, it was awesome. Even here in my small Wyoming town, affordable rents are so hard to find; I got super lucky to find a studio with a full-size oven (I bake on the side), utilities paid and free wifi. I hope I never have to move again, but if I had to, I wouldn't hesitate to start inquiring at the local hotels and motels. I can always find a kitchen to rent if I had to.
I recall seeing an interview with the late actor Peter O'Toole and he was living in a hotel located in downtown New York, I believe. I thought it odd at the time but today at my age, an idea worth considering.
If you have anything of value, give to a trusted family member or find cheap storage somewhere so that your items won't get stolen by the cleaning crew.
You both are such nice folks, it is such a positive experience to watch your videos. The world is getting so dark
Thanks Melissa Happy New Year ☕️🥳
Arthur im 53 i started following you nowi appreciate you and your advice. I want to age with vigor and grace like you. Thx
Wonderful! welcome to our channel Cheers 🙂☕️🍻
Thanks for the informational video. I had seen an article about a person that needed assisted living started living in a hotel instead of an assisted living place because it was so much cheaper. He got the room for a wheelchair.
Also, I read an article about a couple that lived on a cruise ship for years.
I think the only way young people are going to buy homes is buying a house with multiple people.
My daughter works in social services, and old retirees are becoming homeless in record numbers. It does not help that we have illegal immigrants entering America in droves.
Hotel living is becoming an option.
I went to college and still never have brought home $2000 a month. I am 60 now. I can't imagine being on my own and having to rent. My youngest lives on his own and rents. He is an electrician, he took time off to get his forth year and not only did he not get his job back but his rent went up $300 at once!
Great topic. Thanks for the video and discussing the option of hotel stay. It almost seems like a throwback to the 1900-1930's timeframe where living in a hotel was common. I had great-grandparents both here in Canada and in Scotland that were living in hotels in their later years especially when they were widowers.
Today living in a hotel doesn’t sound as glamorous like the movie stars did in the 30s. It’s more like temporary housing for the homeless .
Glad you enjoyed it! Happy New Year 🥳☕️🥂
I've thought that staying long term in a hotel would be a good idea because so much is included. I also like the fact that someone is at the front desk so it's a form of security.
Also handy man is at the ready😂 for leaks and clouts.
I had read a news article about this several years ago. They were talking about hotels but I also heard of doing this on a cruise ship. I thought the hotel was an interesting idea. The article listed SEVERAL positive aspects of this plan. It was an interesting piece. I printed it out as food for thought.
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.
Boarding houses with full or half board used to be quite common, great for single, particularly elderly, people because it also provided companionship as well as help on hand in case of emergency.
Thanks for sharing Glenn Cheers ☕️🥂🇵🇹🇨🇦
It would be great if boarding houses made a return as my grandmother used to live in a boarding house and she would get three meals a day and she loved it.
The issue is land. Most people think it's all about the structure, but it's land that is expensive in popular areas. It's not possible to build low cost housing of any kind on expensive land. A person can go to many places where an apartment costs $300/mo or buy a house for less than $10k because the land is cheap because few people want to live there.
Exactly what I lived in when I was in my twenties. Also back then people rented a unit called room and kitchen. One that I rented had a folding door over what probably was a closet but was then fitted with a sink ,small fridge and hotplate.
@@waterbug1135 Real Estate appraisal 101.
I’ve heard this idea before, only the couple moved around, doing a month or two at each place. You would have to downsize…a lot! Get rid of all those things you once thought made your house a home - memorabilia, heirlooms, etc. Hobbies would be limited. If one of you snores, there’s no place for the other to go. You would still need a real address - the hotel asks for it on check-in. Maybe a PO Box would do - that’s what friends of ours did when they sold everything to live in an RV. It’s definitely cheaper than an assisted living facility, but I’m still hoping to stay in my home for as long as I can.
Great topic! I retired early and have lived in hotels for a couple of years in SE Asia in between leasing apartments for longer periods. I like the convenience of hotel living- no bedding laundry, maid service, security and no bills to deal with (electric, water, Internet) Negatives were no kitchen and a few noisy neighbors.
Hello! I very much enjoy your channel! This is a fascinating idea. I've also read that some people are also retiring to cruise ships. They literally get on the ship and stay on it...for way less than assisted living. They get all the food they can eat, daily cleaning service, access to a gym and multiple pools, and access to the ship's doctor. With senior and frequency discounts, they do quite well. I wonder if you've looked into that for a future episode?
Thanks for the suggestion 🙂
Thanks for the interesting ideas. There is a group in Ontario called Senior Women Living Together that matches seniors looking to rent a place or share a house. Happy New Year Norm & Tina!
Now this is DEFINITELY an awesome idea! That way, no will ever be lonely. AWESOME!!!
I have often wondered why old people who are faced with any or all of the not uncommon realities such as; being unable to afford the rent of their longtime home, not being able to afford the upkeep or payments for their longtime home, the house / garden work being too much for one person, being unable to afford help, loneliness etc… why don’t they get flat mates or house mates like young people do?
Thanks!
Thanks Jennifer ☕️good morning we have just woken up 🙂
When I stay somewhere, I usually only want coffee for breakfast so the breakfast bar food I take to my room is my lunch really. My hubs is off to training or church stuff he does so I don't have our car and I often don't want to risk leaving the hotel to go into an unfamiliar area to get some junk. Then the one meal we have to get is Supper. We are older now and often split an entree. I get a side salad to round it out. It's been true for us that we cannot hold as much food as we used to. We are masters at meal stretching and economizing by now.
Thanks for sharing 🙂☕️
Same exact problem here in the US. High rents and even higher housing costs.
Interesting you say David Bow-ee. We used to say Boh-ie. We had a classmate named David Bowie and he said it like you so that he wasn't getting confused with the singer.
We live in the east GTA. Moved in 2009, $314K, 4 bd, 2 car garage, 1980s subdivision home. A little more than 3x our income but we knew our income would be increasing. This same house is now "worth" $950K-$1M! It wasn't our 1st home but we wouldn't be able to afford to buy it now.
My daughter's friend had a house fire and the family lived in a hotel suite for 6 months. It was awesome!
Very funny Tracy, guess we are cursed speaking British
😅😅
I’m reminded of Ronald Reagan’s name (RAY-gen) being pronounced "REE-gen" by some. A person’s name is pronounced as he or she pronounced it. It’s not optional for each speaker. Poor Bowie must be spinning in his grave.
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🎉
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This is a great idea. How cool is this? We do need to think outside the box, as they say. Another point might be that if the hotel is not in Toronto or Vancouver, I imagine that the rental cost could be proportionately less. Yes... this idea starts to sound more and more attractive.....thanks, Teen.
You are both right, certainly worth exploring this, for many people in this horrible uncertain crisis situation. Pretty good idea and suggestions.
I’ve retired to an assisted living home with a fixed rent and a state subsidy for long term care. All inclusive and unlike with a motel, I don’t have to check out at the end of every month. This is possible because the government saves a great deal of money over paying for a nursing home and the state provides oversight to protect residents. A good value if you’ve Medicaid, which for most people in America is the only payer for long term care. Medicare pays for only three months.
i was a travel nurse and lived in hotels during my assignments. your idea isn’t bad. it’s like renting a studio
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.
Why is your housing situation a problem for the government to resolve?
Building permits take much too long to get in Canada and yet the federal government is intent on allowing way more immigration than our building capacity can keep up with. It's all backlogged and keeps getting worse. Also, foreign buyers are still allowed to purchase property outside the major metropolitan areas and there is a lot of money laundering going on with back room deals with our politicians benefitting (eg last British Columbia scandal). Something like 60% of housing is purchased by investors- much of which stands empty or is rented out as Airbnb's. Something like 80% of our politicians own multiple investment properties so they gain from these policies. People who already own homes like the capital gains, if only on paper, that they are getting from the inflated prices- they take out second mortgages based on the inflated prices and either spend it on vacations or more investment properties- all these people are also voters that politicians have to appease if they want to get reelected. It's not only a problem for our government to resolve but it's a problem they created in the first place through corruption, bad policies and in fact a global agenda that current Canadian politicians ascribe to, towards the deliberate removal of personal property ownership in all realms. Unfortunately, it is such a mess now, I think it will be at least a generation until it gets better, if it ever does. And no, I'm not waiting for our government to resolve this because this housing crisis is exactly what they wanted. It's by design.@@stormyweather2807
the paranoia is astonishing. @@fitspirit
We have been living in our small rv for 9 years traveling around Canada and the US. Definitely more affordable and a new backyard when we want, mostly staye parks. Then we put it in storaget o travel abroad. .
Even if a hotel was only $100 a day it would cost you $2800.00 a month.Thats allot of money.
I do some travel for work and most places charge 125 to 150 a night. Most of the ones that will do monthly at 2000 to 2500 are in bad areas and the fact that they are cheep draws in the once that lets say are not the best Nabors to have.
Stan Laurel retired living in the Oceania Hotel very comfortably til his death. A very good arrangement!
Living in the most expensive state in America. Hawai'i.
Very difficult all over. Blessing to you.
My husband and I were just talking about this with his elderly Aunt! How timely! I enjoy your channel-looking to retire in 5-7 more years and you have really covered a lot of topics-thank you! (I really enjoyed the train trip videos)
That is awesome! Happy New Year Catherine 🥳☕️🥂
But now I just checked and it is like over $3,000 per month for extended stay hotels, like cheapest $116 per night with a membership. Cheaper to go to Thailand or something like that.
Hi Tina and Norm, I have thought about this idea too. I am not retiring yet but I do think it might be a good idea for some hotels to turn whole or part of their buildings into an affordable, high quality lifestyle for elderly people to retire to. It will be also good if the rooms is fitted like a hospital room (with the option of in-house medical and nursing care) so that one do not need to move to a hospital if one need medical or nursing care.
As soon as you add a nurse or a doctor to the mix, the place becomes an expensive nursing home. My son and his wife lived in one as a young couple (along with 2 other couples in diff apartments of course) whose job it was to "help" 2x a week serving dinner in the dining room and if there were any emergencies at night. It was a refurbished motel with all the inner doors going inside the halls. They lived there for free for 5 years while he was in Pharmacy school. It was the best thing ever. His wife is a nurse so that was a total bonus for the place. After he graduated and moved on, they started hiring couples where one was in the Pharmacy college bc it was so perfect with my son and his wife.
@@boysrus61 It need not be expensive for nursing or medical care. For example the residents could pay a small monthly insurance like subscription to the in-house medical/nursing team, even when they don’t need medical/nursing care. So, they don’t have to worry about making payments if they need any emergency/non emergency care or when they need medical/nursing care. It could also be run like a hotel with a bit of modification. For example - the longer one stays, the more free nights one gets. It will cater to all types of budget or no budget. Free medical/nursing care package could also be arranged or provided for some residents as part of their stay package.
That’s the thing the hotels that are clean and decent aren’t cheaper than renting a regular place to live. I watched a video recently that indicated the rooms were about $2000 a month. That didn’t include any place to cook or do laundry.
@@WATCHLLS One should also explore the possibility “owning” a four or five star hotel room (that has been turned into long term residential hotel) for a period of time and at the same time not having to worry about the monthly high rentals.
Years ago, we owned a vacation home for a few years. It was lovely, but a total waste of money because we only used it for 3 to 4 months a year. It was significantly less expensive to negotiate a monthly rate for an extended stay hotel (with kitchenette) and spend a month or two working remotely in different locations.
We have come to that conclusion too Dave Happy New Year 🥳🥂☕️
That sounds like a great idea.
We use our vacation home for 6 months then winterize it. Then 6 months in a rental in Florida.
You could pay $20/night in a hotel in Thailand.
But you’d be living in Thailand…
Thailand ok for a holiday but I would never want to live there permanently
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Here in the Midwest the "efficiency" hotels with a 2-burner cooktop & a fridge is $1600/mo., and wifi is not free. No cleaning, no meals, and generally have a lot of crime. Fixed low income socially security is only $2,000 per month.
Yikes. Thats your whole budget with crime included. Somethings gotta give
I have a friend who has lived in a hotel for a few years now...She likes it! I thought it was strange, but for reasons you suggested it can make sense!! Happy New Year and enjoy Portugal!!
There are seniors who live on cruise ships too. All food and soft drinks included, cleaning and utility bills included too and there’s a medical clinic (although usually not equipped to handle serious cases) but given the horrendous rental costs, a cruise ship isn’t as mad as it sounds.
Very interesting Kevin Happy New Year 🥳🥂☕️
Cheers to you both! I've always said that a little thought and creativity will solve most of your problems. What a great idea! Another benefit to living in a hotel in retirement is that there are tyipcally elevators, so you can avoid stairs. Complications of falling-- which happens often with stairs-- is a big medical risk as people become elderly. Since I've learned this, my plan was to downsize to a rambler-style one-story home down the road, but I've recently heard there's a shortage of this style home, so a hotel sounds like a great alternative. You'd probably get free TP, shampoo, etc. No property taxes, like you said. Renter's insurance instead of homeowner's insurance. You wouldn't have to pay an energy bill for heat or AC. I wonder how hard it is to find a place like this that allows pets.
So glad you enjoyed it Jamie it’s an interesting idea we know in the USA 🇺🇸 lots allow pets not sure about Canada 🇨🇦 Cheers ☕️🙂
Great topic and great information. I am a 72 year old man, I own a one bedroom apartment on Vancouver Island. Since retiring 17 years ago I travel outside Canada for 6 months of the year and live in hotels all over the place. I love the relaxed, carefree lifestyle. When I return to Canada I live in my apartment
I really enjoy you channel and always look forward to new content.
Happy New Year to you both and all the best.
:-) :-)
Happy New Year David 🥳☕️🥂
What a delightful couple! Me and my wife are 61 and wondering what’s next. Would enjoy meeting you and other “outside the boxers” in the future. Sure don’t need the typical retirement plan, especially if we’re healthy.
A modern hotel could also be suitable for people with disabilities. I'm thinking lifts, wide doorways, walk-in showers, etc.
Hi Tin & Norm :). Rents have tripled here in Ottawa. It's most definitely a crisis. Come to think of it, Tina... that's not a bad idea at all. When I was in Portugal, I visited Sagres and stayed the night at The Navigator. They charged me €20. 20 x 31 (days) would have been €620 for the month... it had a separate bedroom and balcony and a large kitchen. Mind you, the place could have used an update but when it comes to saving money... that was a great deal and if you do stay someplace like that for several months you can afford to buy a few things to cheer up the place! Wifi included! All the Best for a Happy & Healthy New Year to You Both xo
Happy New Year Jen 🥳☕️🥂
I know you are talking about mostly retirees, but The solution to first time buyer homeownership in Canada and the US is the building of more small properties or Starter homes. My first home was affordable because it was a 640 square foot condo. Now all of the homes being built are over 2000 square feet. I think they should require home developers to set aside 25% of their new home inventory to homes 1200 square feet or less.
Very true David our first home was a small townhouse about 1000sq ft or less but it was a great starter home Happy New Year 🥳☕️🥂
I am schocked when I see TH-cam host that are living in what looks to be huge houses and with their one or two chidlren. I wonder how they can afford it, as homes like that in my area would be going for half a million or more. Who earns that kind of money????
$2,000 a month in a hotel is not a bad deal, especially if there is a kitchen in the room. As for breakfast that many of these places provide, that's not much of a plus when you consider the crappy food on offer.
My social security will only be 1360.
I stay at Hampton Inn when traveling because of it's specular breakfast.
I know someone here in NE FL who lives full time in a Marriott Courtyard I think it is. They retired from NJ. They negotiated a long term rate. Not sure what their ultimate plan is but they’ve been there for at least 4 years now I think.
Happy new year Tina and Norm! I hope 2024 is super great for the two of you and thank you for all your fine videos! Cheers from Nova Scotia!
Thanks David Happy New Year 🥳🥂🇵🇹🇨🇦
I'm actually considering this arrangement for my retirement. But it most likely would be in Mexico for economic reasons. It's so much cheaper and splurging on airline tickets back to the US a few times a year wouldn't be a problem. That also means I don't need to worry about citizenship requirements etc. I would just be considered a tourist.
Sounds a great plan Chris 🙂☕️
You can't stay there indefinitely as a tourist.
@@maryc1952 Yes, that's correct. You have to leave for 72 hours (minimum) every 180 days.
I tried living in Ecuador but only stayed for 3 months. It didn't work out for a number of reasons. I like the idea of living in Mexico on and off. Do you have a particular area you are interested in?
@@maryc1952 I'm thinking of Acapulco. I was there a few years ago. I met lots of Americans and Canadians living at my hotel which was located 3 blocks from the ocean and across the street from a Walmart Supercenter.
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.
Maybe you've covered it, but living retirement out on cruise ships is another trend. And the costs are not bad compared to the costs of land living.
As I understand it, here in the UK and across Europe I think, a tax called VAT is added to hotel stays (at 20%) but it applies for stays of less than 30 days. If this is accurate, stays of a month or more should be considerably less costly than may be expected. Of course, if people have any possessions beyong a suitcase of clothes, storage costs would need to be added.
Fascinating...I'm just thinking about some of the other things you would save on that you may not have even mentioned like electricity, water, heat/air conditioning, maintenance/repairs, furniture (!), linens, soap, shampoo, toilet paper...
Absolutely you would save a lot of money 💰 Happy New Year 🥳☕️🥂
Hi Norm and Tina: I don’t have the T-shirt but I was lucky to see Bowie live in the eighties. Fortunate to have been to hundreds of concerts/festivals and still going. I have spent too much time in hotels to live in one plus they are not that comfortable. We need our own stuff. Investments and steady retirement income will hopefully pay for our rents down the road. Have a great day! Cheers
We also like our own stuff Paul , nice to have our apartment to keep as a home base . But it could work for others great topic to talk about Happy New Year 🥳☕️🥂to you both 🙂
Thank heavens I paid off my 3 bedroom 1 bath condo here in West Michigan prior to retiring last year at age 68! I got it when I got divorced in 2017 for $145,000 & now could probably sell it for $220,000. It's crazy how quickly housing prices go up! My oldest grandkids are 24 & 22 & are wondering how they'll be able to afford a house as they get older.
You are still going to have to deal with HOA fees which will I’m sure it go up
@@Jane5720that’s true, especially if you live in a high rise condo in Florida. For the rest of the US it’s a good alternative for someone who is getting to an age where maintaining a home and yard becomes difficult. Not having to negotiate stairs also becomes a huge benefit as you grow older. It is much cheaper than assisted living and often times can provide amenities you don’t have with a stand alone home. It’s also more environmentally conscious to live in a shared space community than in stand alone homes. As long as you do your homework before purchasing a condo you should be fine. Some things to look for are; when the latest reserve study was completed, whether or not the reserve is fully funded, how the building has been maintained, if a high rise - when the last structural integrity inspection has occurred and what were the findings and a review their bylaws. I would not, for example, wish to buy into any association that allows an investment company to own a majority share, or one that allows short term rentals. These types of investors can detract from the community, put strain on the shared spaces and are not interested in the long term sustainability of the property.
@@Jane5720yes they will go up like everything else.
Also difficult for kids coming out of college with students loans more than a down payment on a nice house.
This seems like a really good idea for those who choose it, rather than those forced into it by circumstance. As with everything it's about attitude and mindset. For me it's cheaper to rent a studio unit but it may not be in other countries....in which case this is an option which I can see has many advantages. Great video! 😊👍