Retire To A Hotel - Low Cost Retirement Housing
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- čas přidán 29. 12. 2023
- Cost of housing in retirement can become very high living on a fixed income. Without savings the choices are limited to moving to a third world country or downsizing your paid off home to fund your retirement living expenses if you don't have enough savings.
Today we share with you if you can retire to a hotel and why this is the prefect low cost retirement housing.
Let's explore alternative solutions to affording housing in retirement.
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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
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 ?😢
Some retirees are living in vans and RVs to survive
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. 🙏🏽
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 ☕️🥳🥂
They will become skid rows in near future
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.
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!
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.
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?
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...
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.
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 😂
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
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!
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.
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.
I love the idea of living in a hotel during retirement. The biggest challenge is finding a decent hotel at a reasonable price.
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.
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.
Yeah then default on your credit cards in 2 years and be scum the rest of your life.
Good idea!
Not....
There's an influencer couple on CZcams 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!!!
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 was a travel nurse and lived in hotels during my assignments. your idea isn’t bad. it’s like renting a studio
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.
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.)
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?
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?
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 🥳☕️🥂
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.
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 🙂☕️
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.
20 years ago sold my big house bought 3 rentals and a smaller modest house in a quite blue collar neighborhood then got roomates. I pay for nothing and retired early . Always thought I’d dye working, took the leap, best thing in the world
Awesome advice!
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.
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.
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.
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🎉
❤️🇨🇦
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 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!
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 🥳☕️🥂
In the early 1900’s there were residential hotels in major US cities. Families with children even lived in them.
You are both right, certainly worth exploring this, for many people in this horrible uncertain crisis situation. Pretty good idea and suggestions.
The problem with this is a lot of the people living in hotels may not be people you want to live around, drugs ect. Also safety.
Don’t think they would qualify to live there Dean 🍻
You are right. There are no credit checks or background checks. Sometimes there are 4 people living in one bedroom in the hotel. There were whole families crowding into one room. Hotels don't care how many are in there if they get their money.
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 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.
You guys have done so much digging for us. Thank you
Never thought about this. Thank you
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.
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
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.
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 🇨🇦☕️🙂
It was 1946 and my parents married. They lived in my grandparents home till 1955 and in that time had three children. After being transferred to a small town where staff was needed at the railways station my parents received the keys to a council rental. Things being tight on the housing market is tough for various age groups. My bonus mother in law ( 93) says, this comes in waves. The thing is, sometimes the waves are higher. Hopefully people come up with creative solutions, like home share, a back yard small unit for single mom or dad, or parent which frees up a family home. There are no straight forward answers or solutions - just creative ones. I wish everyone a safe and leak proof roof over their heads as we head into 2024. I hope for a peace settlement in all the wars being fought - and many hands to help rebuild lives (homes). See you next year Tina and Norm, with more wisdom videos. 🌟🇳🇱🙋♀🇳🇿
Thank you and I love your comment! So true, a leak free roof (and all that it stands for) would be wonderful! Also, the hope of peace for everyone must be championed!!
I grew up in a multi-generational family and we had renters and boarders from time to time but after leaving home and country I’ve lost the ability (trust?) of having strangers around me. I’m not sure if I can open up my home to a stranger at this stage of my life.
Best wishes for a wonderful New Year!!
Great comment Anita Happy New Year 🥳☕️🥂🇳🇱🇨🇦
We formed a muilti-generational family for three generations and lived together for forty years. Nope! Not way back, ended with Mom's death in 2014 although the last 2 1/2 years she was in Long Term Care -- not our choice, had a disrupter come Into our lives who even took Mom to the Bank and opened a safety deposit box with her name on it. I write about this on Life Times Three, Living with LBD. My InLaws lived in their home until after my father-in-law passed and mother-in-law didn't feel safe; moved to live with daughter and then into Nursing Facility due to health reasons. Pushing people out because of their "age" and younger people "wanting in the housing market" is absurd and abusive. I wrote a omment above that talks about current ownership by investors doing Air B & B and how that raises prices due to unavailable houses for residential families. Point the finger in the right direction!
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.
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.
😮😮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.
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?
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 🥳☕️🥂
Happy New Year Tina and Norm - my wife and I love your stories and insights. All the best in 2024!!
Thoughtful and interesting. Thank you.
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 🙂
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 🥳☕️🥂
It’s sad for many reasons but glad there’s hope. Thanks guys
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 ☕️🥳
Do not get : TOO NICE" for your own good, though!
❤😮❤@@ThisIsOurRetirement
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,
Even if a hotel was only $100 a day it would cost you $2800.00 a month.Thats allot of money.
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.
Always interesting watching your videos. There has to be at least a dozen hotel chains offering all suite properties and, like you say, offering long-term stay rates. A friend of mine is convinced the new suburban type hotels could be converted to some form of assisted living almost overnight with their wide hallways and doors, common areas, etc. One thing that might help drive long-term stays is the fact that business travel has not returned to pre-pandemic levels. Would be great to cruise for a few months, too! Thanks as always, and I hope you had a good Christmas. Happy New Year!
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.
Great Video at the right time to help out a lot of people! Thanks!
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.
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 ☕️🙂
Very interesting subject, thank you
Best wishes for a happy and healthy 2024 Tina and Norm 🎉
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.
I can see why some people choose to live in an RV!
Thank You so much for your help and Time !!
You're welcome! 🙂
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!!
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.
A modern hotel could also be suitable for people with disabilities. I'm thinking lifts, wide doorways, walk-in showers, etc.
Thanks for your information guys I'm in Toronto as well and I understand do you guys have a great New Year amen
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.
Like the WEF overlords said: "You will own nothing and you will be happy" ;)
And don't forget... "You will eat ze bugs."
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 🙂☕️🍻
Food for thought!
Same exact problem here in the US. High rents and even higher housing costs.
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
Happy New Year Tina and Norm! Thanks for all your videos. I always learn something and have a little laugh too.
Our pleasure! Happy New Year 🥳☕️🥂
Living in the most expensive state in America. Hawai'i.
Very difficult all over. Blessing to you.
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.
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.
Smart thanks for sharing! 👍
Happy new year guys! Thanks for all the wonderful advice each Saturday and now the "trivial pursuit" shorts . Have an awesome time in Portugal.
Happy new year Stephen 🥂☕️🥳
@@ThisIsOurRetirement 🎉🇨🇦🍺happy new year guys ❤️
Happy New Year Tina and Norm! Housing is so expensive here in Australia I don’t know how people afford to buy a home these days. Rentals are also hard as there are so many people applying for the same house in our area. So sad that families are having to live in tents with small children that are unable to secure a rental!
I saw a CZcams video and followed the family on it for awhile. They were in Australia and they had to find a better house for their disabled daughter. They ended up buying a $2Million dollar home I believe and this guy didn't have a job that traditionally pays much (at least here in the US). The house that they got, I wouldn't have bought for $100,000 US. I just can't get over how the price of things like housing are skyrocketing.
Stan Laurel retired living in the Oceania Hotel very comfortably til his death. A very good arrangement!
Very interesting. I've seen videos where people have retired on cruise ships. They take the long cruises and get to travel. It means changing ships at times but they really enjoy it.
Thank you for sharing this good idea.
You are so welcome! 🙂☕️
We rent a very affordable very small 1 bedroom apt in the lower level of a nursing home. Currently we’re in Thailand for the winter and the cost of living here is much less than in Canada. We really enjoy the food, culture, and friendly Thai people. Your hotel idea is intriguing!
You can get really good cheap guesthouses in Thailand pay buy the month nearly as cheap as a condo without utilities
EVERYONE NEEDS TO MOVE TO THAILAND NOW😂😮❤
@@philliproberts7294 Getting healthcare in Thailand is a problem for most seniors. Even the wealthy have difficulty finding coverage if you're' over 60 or have preexisting conditions. The cheaper plans don't cover anything. There's no social safety net, so if you don't have insurance, they won't treat you.
Enjoy your channel, we are off to Albufeira tomorrow for the seventh winter at the same apartment in the same apartment hotel
That’s great David have a great time it’s wonderful you have found a place you are happy with to return each year Cheers 🇵🇹🍷🇨🇦
Happy 2024!
Really cool video - this living space idea is doable
Thanks David!
Thanks for your great advice! Greetings from Canberra, Australia!
Our pleasure ☕️ 🇦🇺 🇨🇦🙂
Your video reminded me of the 60's. We had what looked like a motel called The Lodge which housed a number of low income renters full time in our town. Then the prosperity years hit and the Lodge was torn down. Sixty years later we are looking to lodge/ hotel living again as an option.😮Food for thought. Dear Norm and Tina Have a very healthy and prosperous 2024 New Year. Best wishes Fay and Danny x
Happy New Year Fay and Danny have a great time in Florida 🥳☕️🥂🇵🇹🇺🇸🇨🇦
Very nice. Really never considered hotels as a full time living alternative. Very interesting, great information, thanks so much.
Our pleasure! ☕️🙂
You also could move into your cabin for the number of days you are allowed then use the hotel idea and travel around the other months, along with visiting people as well