Previously I posted about retirement planning and lowering cost of living options. Here is a further look into another one of the alternative living arrangements to lower the cost of living: long term travel - living in hostels
Here are the pros and cons to living in hostels:
-no owning anything, unless you want to own a car
-there is no property tax because you don't own land.
-you can live where ever you want
-you can travel as much or little as you want
-utilities are included in the fee
-keeps you from owning too much junk
-no yard work
-some places even come with breakfast
-most places come with free wifi, a shared kitchen, and some even free computer to use.
-you get to meet a lot of people from all over the place
-these isn't a lot of space
-to get cheaper price per night, most places have a dorm styled shared bathroom. Rooms with private in-room bathrooms cost more
- depending on the places you live your stay could add up to the price of rent, but it's still cheaper than most rental apartments
-you may have to do some work for the cheaper fees, like man the desk a few hours a day
Traveling long term and living in hostels are a great way to see the world. In fact, there are a lot of hostels in Europe than US, but hostels are becoming more popular. For single people, the dorm style rooms can be as cheap as $10 a night, and private rooms are $25 per person. The down side is, you don't have a lot creature comfort things with you unless you have a car, but parking can get expensive if you are in a city. If you are traveling by bus or rail, you really can't pack too many things.
I have stayed at hostels during vacation trips. They are usually located near all the places I want to be without paying the high hotel prices. I have had really good experience with them and would recommend them to any budget travelers.