For most of the last 2.5 years, I've lived out of various Airbnbs all around the world (and in the US during Covid), and it's been surprisingly affordable given the freedom it provides. I wanted to share this tidbit, mostly for:
- Those who are already FIREd and want to slow travel
- Those who are remote workers, freelancers, self employed that can work and travel
- Anyone interested in unique/alternative lifestyles
First, the numbers:
- In 2020 and 2021, paid stays averaged around $1,240/month. This was all in the West Coast US, in medium/high COL areas. Typical market rents for comparable stays would be about the same, ~$1200-$1,300, plus utilities (which are included with Airbnb). Most says were 1-3 months
- In 2019, stays averaged around $1,050/month. This was mostly in Eastern Europe, with some USA road trippin' included, and a few weeks in Hawaii. These were shorter stays of mostly 1-3 weeks, so it was more expensive (probably 2x+ local rents, in Europe, but bit of a different ballgame when abroad!)
- In the last 2.5 years, we've stayed a cumulative total of ~6 months for free/dirt cheap through a combination of housesitting, staying with family/friends, camping, etc. These free stays are not included in the calculations above - but if they were, would drop the total average monthly cost by around $250/mo
- We are able to pay for all stays with a credit card, so I use the Chase Sapphire Reserve. This effectively earns 4.5% back on travel purchases (including Airbnb), so this further reduces the total cost
The main ways we've been able to keep costs down are:
- Asking for discounts. Many hosts have a monthly discount baked-in, but even if they do, it's worth asking for more - particularly if you're staying a few months.
- Going small. We're fairly minimalist anyways, so we mostly stayed in MIL units, tiny homes and small apartments/houses.
- Being flexible. Our work allows us to go wherever, so we cast a wide net and looked for interesting lodgings in towns that we were interested in. Pre-covid, the opportunities for geo arbitrage are much better, as there are many very cheap countries out there!
BackgroundBack in 2018, my partner and I made the switch to becoming "digital nomads". I was already a freelancer, and she quit her job to start freelancing as well.
We don't make a ton of money (~$50-$70k between the two of us most years), but we've been able to enjoy a ton of freedom in our lifestyle, while also saving aggressively. We also don't really work that much, hah!
The plan was to travel internationally full-time for a couple years and then re-assess. We traveled for around a year, and then Covid hit. We were supposed to be in SE Asia for all of 2020, but obviously that didn't happen.
Instead, we pivoted to staying with family for a while, and then staying in monthly Airbnb's in the states. We were surprised to be able to find quality rentals at pretty close to market rent. Part of this was a willingness to downsize (we stayed in mother-in-law units, small houses, and a couple tiny homes), and part of it was likely Covid and owners being more willing to give discounts. But even now with travel resuming, we've booked through early Fall at reasonable rents (a bit higher average in the summer, as expected, but we also have nicer places).
This has also given us the opportunity to try out different living situations, lifestyles, and geographical locations. We stayed in two tiny homes, on a homesteading farm, and are now looking for an RV for a month to try that out.
There have been some ups and downs, of course, but I feel like we've made the best of it given the curveball that was Covid-19.
Anyways, for those who value freedom/flexibility, this can be an interesting path to test out. And once international travel is possible again, the possibilities are endless (and quite cheap!)
Cheers!