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I live in Bayonne, NJ. I moved here a few months ago from Oregon so I know how hard it is to move, but I know in this case it's a lot easier cause it's a lot closer. Nothing is holding me here so it's not gonna be a drastic change like it was when I left Oregon. I always spend my time in Brooklyn, and it's about 25 min drive from me if I use Staten Island, which adds up to be a $20 round toll trip. I usually go once or twice a week so its not a huge deal, but still. I am thinking of moving to BK either way, but I am thinking maybe I should transfer to a school there now and not wait till I'm done with school in NJ. I shouldn't lose any credits while transferring. It might be better for a future job, since a NY school would help me find a job in NY using internships and such. The NJ school mostly offers NJ jobs. I would also be buying a condo in NY so instead of 1.5 yrs of throwing rent money away (time I got left to finish my degree), which would equal to 16k+, I would be investing it in my own place. Moreover, I could meet people and make friends there instead of here, which would be better, since that's where I will live later anyway. Is it worth it though or I should not stress and just finish the school here and then move?
Last edited by OleSchoolFool; 12-21-2011 at 09:04 PM..
Im in a 4 yr college, a transfer student. I got about 1.5-2 yrs left. I know 16k is not enough. I only said that I will use that money towards something I will own instead of wasting it. To answer the next question, my job is not an issue, I can take it with me.
If you've never lived here before I would highly recommend NOT purchasing a condo before renting in your desired neighborhood for at least 6 months. Save your 16K for rent, bills or emergencies.
I'm not sure what you are going to college for, but schools like Baruch (Cuny) are very transfer friendly.
Last edited by sheaosaurus; 12-21-2011 at 11:12 PM..
Like Sheaosaurus said, I would rent first for a while before purchasing. Not to mention, depending on where you are looking to purchase, you might have to prepare for sticker shock. If you're considering any "hip" area to buy a condo, 16K will not even be taken as a down payment anymore. Brooklyn is a lot more expensive than Bayonne by a mile. Also be prepared to live with roommates, like most people do while in college.
As for transferring, I would look into which colleges offer your degree and can transfer quickly. Not all colleges offer the same programs.
Another thing to consider is this, if this is student loan money you would be using, it's not the best idea to use that towards housing. More and more students upon finishing school are having a hard time finding jobs and their biggest debt is now student loans. It was stated a few weeks ago student loan debt now exceeds credit card debt. Just something to think about.
Unless your rent deal is horrible, just stay in Bayonne and do the trek to Brooklyn when you need to. If you are near the Light Rail it is a breeze to Exchange Place, PATH to WTC, subway at Park Place and you're good to go. Bayonne isn;t the ends of the Earth, although sometimes it can feel like it is.
But I know the driving can be pretty terriblle because I drove daily for several months between Jersey City and Brooklyn...across Canal St twice a day at rush hour <shoot me!>
Is your school in Hudson County? Jersey City?
Of course, do NOT consider buying real estate without a job or a degree.
Like Sheaosaurus said, I would rent first for a while before purchasing. Not to mention, depending on where you are looking to purchase, you might have to prepare for sticker shock. If you're considering any "hip" area to buy a condo, 16K will not even be taken as a down payment anymore. Brooklyn is a lot more expensive than Bayonne by a mile. Also be prepared to live with roommates, like most people do while in college.
As for transferring, I would look into which colleges offer your degree and can transfer quickly. Not all colleges offer the same programs.
Another thing to consider is this, if this is student loan money you would be using, it's not the best idea to use that towards housing. More and more students upon finishing school are having a hard time finding jobs and their biggest debt is now student loans. It was stated a few weeks ago student loan debt now exceeds credit card debt. Just something to think about.
People keep getting offtopic. I never said 16k will be my down payment. I am not gonna rent in a new neighborhood either way even if I move now or later. It's even more expensive than here, and I am not gonna have roommates, never have, never will. I will research the neighborhood first and spend time there. I don't have time for this extra move. I am familiar with transferring. People keep assuming-I never said anything about student loan money. The down payment for a condo will be family money. I know BK is more expensive. I plan to buy in South BK, something up to 300k.
Unless your rent deal is horrible, just stay in Bayonne and do the trek to Brooklyn when you need to. If you are near the Light Rail it is a breeze to Exchange Place, PATH to WTC, subway at Park Place and you're good to go. Bayonne isn;t the ends of the Earth, although sometimes it can feel like it is.
But I know the driving can be pretty terriblle because I drove daily for several months between Jersey City and Brooklyn...across Canal St twice a day at rush hour <shoot me!>
Is your school in Hudson County? Jersey City?
Of course, do NOT consider buying real estate without a job or a degree.
Public transport would be 1.5 hrs to get to South BK though. That's where I chill. Its too long.
Yes, I go to NJCU in Jersey City for criminal justice.
People keep getting offtopic. I never said 16k will be my down payment. I am not gonna rent in a new neighborhood either way even if I move now or later. It's even more expensive than here, and I am not gonna have roommates, never have, never will. I will research the neighborhood first and spend time there. I don't have time for this extra move. I am familiar with transferring. People keep assuming-I never said anything about student loan money. The down payment for a condo will be family money. I know BK is more expensive. I plan to buy in South BK, something up to 300k.
People get off topic because you left us with an open-ended question to assume things lol.
Why on earth would you buy an apartment this early in the game? What if you don't land a job right out of school because of the economy and are left with waiting tables or temp admin work.
You can spend all the time you want in a neighborhood but it is not the same as living their for six months. I moved onto a quiet street in Brooklyn in the winter that turned into hell in the summer. A stalled condo complex became a half-way house and kids burned trash on the street, cars were vandalized, bricks were thrown through people's windows.
It would me a much smarter decision to rent, even without roommates. But it is your money versus my opinion.
I'm not sure of the prices but I am sure 300K could get you something in Bay Ridge.
"A stalled condo complex became a half-way house and kids burned trash on the street, cars were vandalized, bricks were thrown through people's windows. "
I guess Ill have to conduct even more thorough research lol And Ill find some job, if not I will have money to cover till I do.
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