I'm on what's considered a fairly good wage for my area (Melbourne), but if I were to do this it'd cost me close to 70% of my take home salary. Whereas I could rent a beautiful apartment right near the city for about 30%
My average nightly spend is about $119 all-in (I track it all in a spreadsheet). Market rent for my apartment in SF would be $4,500, i.e. $148/night, assuming every night is used. If you do any amount of traveling, the cost per night used of your apartment increases.
$125 can buy you some really really nice hotels. I've stayed at 5-star properties in Bangkok at that price. And if I'm willing to go limited service or 4 star (but still nice, I have standards), I've done stays as cheap as $45 in Bali, $65 in Kuala Lumpur, $80 in Bangkok, $125 in Taipei, etc. In China, I've stayed at St. Regis and Ws for barely over $100. I can pretty much always get something nice for under $200. I learn the tricks to lower rates through promotions and other programs like Citi's 4th night free or through TAs who have access to special rates.
Given how much time I spend in hotels, I have top status with three different chains (Hyatt, Marriott, and Hilton, and mid-tier status with IHG). That means I always get the best room available, and I've gotten some absolutely ridiculous suite upgrades (twice the size of my apartment). I also usually get free breakfast, access to a club lounge with free afternoon food and booze, late checkout, welcome gifts, and other perks.
With Hyatt and Marriott I have a dedicated team member to take care of any issues or requests. Basically, I get treated like a king by all of them, for the same price as my rent in SF.
For me, living in hotels full time, vs. $200+/night used in rent in SF… the decision was a no-brainer.
Hyatt: 80 nights in their hotels last year (5 from CC) Marriott: 105 nights in their hotels last year (10 from CC, 1 from birthday) + required $20k spend for Ambassador status
Hilton: credit card for Diamond IHG: credit card for Platinum, $200/yr to add Ambassador status
211 total hotel nights last year.
There's 365 nights in the year, enough to earn top status on every chain you want. I plan on adding Shangri-La to the mix this year.
To the outside world it looks like your permanent address. I use mine to buy health insurance through Obamacare and also have registered my car to this address.
The other big annoyance about living as a full-time nomad is laundry. So far I've managed with a mix of laundromats, laundry shops, and the occasional hotel laundry when it's reasonably priced (rarely).
I find dry cleaning to be cheap compared to the time I would spend doing laundry activities.
Ironing an expensive dress shirt with a rusty iron at an Airbnb is not something I want to entertain.
I haven't found a good solution for workout clothes though so I usually stay in an Airbnb with at least a washer.
More info / Wirecutter review: https://thewirecutter.com/reviews/best-mens-and-womens-under...
Not every city is New York or SF with their crazy hotel prices. In expensive cities, I'll use points to save money.