So before you bite and say, "obviously it's more expensive, why would you bother" - yes, I know. I am not thinking of the conventional ways of paying cash directly to do this. In fact, I'm thinking of something similar to how people "hack points" and "Fly First/Business Class for the cost of Economy" by figuring out the loopholes and sweet spots in various airline loyalty programs. Hotel loyalty programs also have sweet spots, but I am nowhere near as well versed in the hotel's loyalty programs as I am airline programs.
My thoughts are by combining things like Manufactured Spending, identifying the sweet spots of various programs which could give you benefits such as free breakfast and/or free room upgrades, plus buying hotel points on a discount, taking advantage of book X nights, get Y nights free, obtaining "free status" through various Credit Cards, you might be able to do this in a way that could even be cheaper than the traditional way of buying or renting a home.
It's not beyond me that what I've listed above amounts to a fair bit of effort too, to which a dollar value ought to be assigned to the potential time/effort required to pursue such an elaborate endeavour.
Of course, there'll be various pros and cons of this. Let's start with some cons.
Cons
- No permanent place of residence (and thus no proof of address?)
- Typically smaller living space
- Limited flexibility in terms of decor, furniture
- Less likely to be family-friendly (I presume "hacking" the cheaper, lower end rooms would be easier than suites/large serviced apartments)
Pros
- "Fancyish" living
- More convenient location…?
- Cheaper (if you can "hack" it right? this is precisely the purpose of this post LOL)
- Flexibility in not being locked in to a contract
- No need to consider the need to buy and sell furniture
Anyway, the thought just crossed my mind as I'm in the process of looking for a place to live (in Singapore) and it's not particularly easy or cheap right now because the rental market there is going bonkers. I mean, not that short-term accommodation is ever cheap in Singapore, but as I said, I'm not here to imply that it is easy to achieve what I'm proposing. I'm more just putting it out there for discussion!
I'm also acutely aware that even if someone had this figured out, they'd be unlikely to post it on a public forum out of fear of ruining it for themselves, hahaha.
TLDR
Anyone looked into living long-term in short-term accommodation, and found ways to do it cheaper than the typical buying/renting a home method?
How much per night would you be willing to pay?