I am coming up on having to make a decision about if I should stay in my apartment, or move to a new apartment. I’m also considering staying at Extended Stay America. I lived in Extended Stay America for a month with my cat when I first moved to California, and it was a pretty good deal. The room includes a kitchen and refrigerator, there is maid service twice a week, and there is laundry service on site. Combine these must haves, with some nice amenities like an indoor pool, and a Gym and the place becomes very competitive long term.
You give up some square footage vs. having an apartment, but you gain the ability to have free utilities, maid service, and the ability to leave at a moment’s notice.
If you can limit the amount of stuff you have, you can even work it out that when you are out of town, you don’t pay your "rent" at your regular location. This has some definite appeal to me. Hop in the car go to CES or NAB for a week in Vegas, and save the 25% of the month you are gone on rent. Considering I do this about 6 weeks a year that would save me a month and a half worth of rent.
There are some down sides to living out of an Extended Stay America, it would definitely put a damper on dating. Girls aren’t going to think you are a stable trust worthy loyal guy, if you live in a hotel. While there was a time when lots of people lived at the local inn, these days women prefer then kind of guy who owns a home, or has a nice condo.
There is also the issue that with out walls and multiple rooms, my cat is going to be in my bed on a regular basis. In my loft I already have this issue, but generally there is enough space in the loft that I can run the air filters and not have my allergies kill me.
From an economics perspective, Extended Stay America is about $1500 a month. That includes all utilities which for me is about $350 a month, cable, and Internet at $100 a month, and maid services $100 a month. So I’m looking at getting a room for the rent equivalent of $1000 a month. A similar sized studio is about $750 a month, but doesn’t include the furnishings, and is unlikely to be as well located.
So will I be making the switch? Maybe. Certainly as a way to save some money while I shop for my next place the Extended Stay America seems like a good deal, I need to check if I can have two parking spots and some other things, but I’ll give it a try for a while.