Has anyone ever signed a lease & then realized this may not be the right fit for you?
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Sounds like you did zero research about this process. Even rent controlled apartments have increases. Why are you worried about the apartment 30 years from now? Anyway, maybe you should give up the apartment so someone else can have it. That way you don’t have to worry and someone else can get the chance.
It is a valid concern. Scores if not hundreds of former RS tenants have hauled their landlords into court claiming units were deregulated illegally.
As stated in previous thread someone who moves into a RS apartment that is only so because of a tax abatement when they are 20 something. In thirty years they will be in 50's and may not have same income or whatever. Even going into retirement years facing going from an apartment that has regulated rent, automatic renewals and rest of it to market rate can be alarming.
There are older people now living in RS units paying < $1200 or even < $1000 per month for prime Manhattan area. If deregulated they could see market rate increases to >$3000 per month rent and no longer have protections of RS system.
This is why things were changed up so when RS units in these new "affordable" or "low income" apartments come out of deregulation it only affects tenant who follows after current vacates.
You are probably young, but am here to tell you thirty years goes by faster than you think.
I get all of your concerns! I’m really nervous too, but in the end, you’ll make the right choice for you and your family. We’ll be having to change doctors as well, especially specialists, but we have decided we are going to move forward with this apartment.
What borough will you possibly be moving to if you don’t mind me asking? And did you sign a 1 year lease or a 2 year? I signed a two year.
The leasing agent contacted us after some questions we had and they were so nice. It makes me feel more comfortable in accepting.
I wish you the best of luck!
The borough im moving to is Brooklyn, I signed a 1 year lease. Most likely I will be moving into the apartment as well and don’t let anyone judge you feeling unsure, it’s normal, you’re not the first or the last person to feel that way, I withdrew my application after getting contacted for a few lotteries, I forgot I even applied for. Signing a new lease is a big deal, as well as packing up and moving your things, and lastly no one knows your personal life, you’re the person responsible for paying your rent, no one else!
I actually turned down the place I'm living now, I was so unsure. Then I changed my mind and contacted them again like two days later (i.e., before they'd processed my rejection).
If you're already in a good and affordable situation, don't move just because it's ”luxury.” But keep in mind that, if your current affordable situation isn't rent-stabilized, that affordability could go away anytime. My current place was about 10% more than my market-rate apartment. My landlord had a pretty good track record of very modest yearly rent increases. But he was also one older guy comfortably running interest-only mortgages on buildings he wasn't investing in renovations for, basically coasting along in an old-fashioned way with a bunch of longer-term tenants. If he decided to retire, I had no protection against his kids or the bank or whoever deciding to try to wring more profit out of the property. So I made the jump. If nothing else, it's nice not having the unpredictable rent increase hanging over my head each year! (The rent on my old place is still less, but with 3 years of 0% increases, compared to almost anywhere else in Manhattan, this apartment is rapidly becoming a real steal.)
I was that way (undecided) also each time that I moved. Back in 2018, I left my huge 750 sq ft rent stabilized apartment for a 500 sq ft studio that I would pay 300 dollars more for. Once I moved in, I did not regret my decision since my commute was so easy (I didn't need to use the subway), and also because the building was brand new. The old apartment I left behind although huge and cheaper was in an old tenement with leaking pipes. I could not stand the occasional waterbug . At the time, I'd pay even more than 300 bucks if it was guaranteed that I'd never see a waterbug!
Four years later, I won a one bedroom, where I had to pay 350 more in rent. I was debating it, but then I thought that for comfort (my own in unit W/D, gorgeous views, and a large living space where I can actually have pets) was well worth it! So, I took the apartment, and I do NOT regret the decision AT ALL. I absolutely love where I live and very glad I took my current place.
I was in my previous rent stabilized apt for 12 years so I was nervous to move into my lottery apartment and was having second thoughts..totally normal! Our rent doubled but we also got an extra bedroom and bathroom with a washer and dryer and dishwasher in the unit, all things I never even imagined having before we are definitely much more comfortable ..I hope you will be too!
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. At the time, I'd pay even more than 300 bucks if it was guaranteed that I'd never see a waterbug! 
