I am travelling to Paris for 3 days only & want to make complete use of my time here.
Currently have booked @ ibis Styles Paris Buttes Chaumont @ 19th arr(cancellable).
It has free breakfast.
I want to understand how this area is & its proximity to major attractions?Will I have to spend lot on travel costs if I stay here?
It is not central of course, but there are metro stops nearby and you can get to the center generally with one metro line change. A set of 10 metro tickets costs 14.10 -- a carnet. That should be plenty for 3 days. Metro to the area of the place you want to visit and then plan to walk in that area; organize your visits geographically. e.g. you can do Notre Dame, Ste Chapelle, the central islands and the Louvre, Orsay, Orangerie and or Tuilleries in one regional day. Of course you won't want to do 3 museums in one fell swoop, but you get the idea. The Butte Chaumont park is quite nice; you might plan a picnic there one day while you are in Paris.
We often stay in an apartment closer to the park so we know this area very well. It is in a nice area of the 19e with restaurants, the park, and the canal/bassin nearby. The hotel is near a metro stop so for the price of a metro ride, you can be in the heart of Paris in a few minutes. This is a safe feeling, walkable neighborhood but it isn't centrally located. If you decide to stay at this chain hotel, let me know and I can provide a lot more practical information and recommendations. What month will you be in Paris?
You're still in the central Paris zone so a regular metro ticket will work -- the Paris metro system isn't one like Washington DC that charges by the distance traveled (unless you're staying in a further-out zone, but that doesn't apply here). So you will spend a little more time on the metro than if you were staying more centrally, but you won't spend any more money.
If you plan to keep this reservation I highly recommend walking 5 minutes to the Bassin de Villette to checkout the fun summer food, dance and water activities surrounding the canal. The special summertime activities start next week and go through mid August. "The Paris Plages beach festival runs from the 18th of July to the 21st of August 2016"