Edinburgh Lodging question

Staying at the b&bs outside the city center will mean taking a bus to the Royal Mile or a fairly long walk. We did both. The b&b we stayed at was really lovely but if we ever go again, we would choose a hotel that is closer to the city center.

Thank you for sharing your information with me!

On our first couple of trips to Edinburgh we stayed in B&Bs that were about a 30 minute walk to the Royal Mile. On our last few trips we've stayed at Fraser Suites right on the Royal Mile, and we've decided we'll never stay too far out again. It is so convenient to be able to pop back to our room and drop off purchases, take a short nap, etc. We'll be back there ourselves next month, and can't wait.

We stayed at the Ardenlee Guesthouse on Eyre Place in New Town. It's a mile from the castle and most of what we wanted to see was within walking distance.

so many options. I usually suggest one of the many B&B's and small hotels on the Road Minto Street ,Mayfield road and Craigmillar park which is all one road that leads straight into the city centre furthest point is about 2 miles from the RoyalMile, numerous buses day and night that will get you from the furthest point to the Royal Mile in about 15 minutes.
http://www.visitscotland.com/accommodation/bandbs/edinburgh-lothians/
this website has loads of options.

I like to stay within walking distance of either the Royal Mile or New Town with the public bus as an option for tired feet. You can get a day ticket for 4£ and it is paid for in three trips. I used to stay at the Inverlieth Hotel near the Royal Botanic Gardens and more recently stayed at The Walton Guest House.

I stayed in Hotel Ceilidh Donia which is outside the city centre, and didn't really find that to be much of a problem. It's a wonderful hotel and I'd stay there again anytime. There's Bus service into the main part of the city, and I also used Taxis on several occasions.

I've got to think you can find something that is affordable and nice close to where all the major sites are (nicely compact, the Castle on one end and Holyrood House/Calton Hill on the other). Last month, I stayed in the New Town area and it (the location) was perfect. Being outside the city will waste time. My 0.02!

Thank you everyone for all of your advice and suggestions! It changed my mind and now we are going to stay in the city center. We like the idea of setting out on foot right away and also to be able to return to our room if we need to. With only 2 full days and one half day in the city, we do need to maximize our time. I'm so glad I asked:)