If you are moving to a new area or are looking for new housing in your current city or town, you might be planning on shopping for an apartment. However, for some people, there is a better option -- an extended-stay hotel. These hotels typically offer lower rates if you rent by the week or by the month and are designed for longer stays than your average hotel. As with any other lodging option, these hotels have their pros and cons, but these are a few signs that this might be a better choice for you than renting an apartment.
1. Your Financial Means are Limited
If your financial means are limited, getting an apartment can be difficult. Along with having to pay a deposit on the apartment itself, you may have to put a deposit down for your utilities, too. Plus, you may have to worry about a credit check and proving that you make a certain income. Extended-stay hotels often don't have these same requirements and can be a lot easier and cheaper to get into, making them a better option for those who don't have a lot of money, don't have a good income and/or don't have good credit. Since the utilities and such are included in the "rent" at an extended-stay hotel, it can also make budgeting a whole lot easier for those who have a tough time juggling bills.
2. You Aren't Sure How Long You'll Stay in the Same Place
Many apartments require you to sign a lease before moving in, which might require you to stay in the same apartment for a year or more. Breaking the lease can be expensive and can impact your ability to get another apartment in the future, so it's best not to sign a lease unless you feel confident that you will want to stay in the same apartment for the entire duration of that lease. If you aren't completely sure that you want to stay in the same place for that long, an extended-stay hotel can be a better choice, since it gives you more freedom to pack up and move anytime that you want.
3. You're Still Getting to Know the Area
If you are just moving to a new city or town that you don't know much about, it could be smart to stay in an extended-stay hotel for a while so that you can scope out the area. It can be tough to choose the safest and most convenient areas for living when you're planning before your move or when you're new to the area, so living in a hotel for a while before choosing your apartment can help you make the best choice for long-term lodging.
Even though you might have never thought about moving into an extended-stay hotel, it could be a better lodging choice for you than an apartment. If any or all of these things apply to you, consider looking for extended-stay hotels before you spring for an apartment or other longer-term rental.