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I am relocating to NYC soon. My take home salary would be around 7500 a month. I wonder if quality of life would drop significantly on that salary. Currently I am living in a big city in a developing country. I live in a luxury 3 bedroom apartment, which I own. I have a full time maid and can dine out at wish. Even though I am only making about 3000, I still can save half of that amount. If I want to maintain that kind of quality of life, how much is minimum I need make per month?
I am relocating to NYC soon. My take home salary would be around 7500 a month. I wonder if quality of life would drop significantly on that salary. Currently I am living in a big city in a developing country. I live in a luxury 3 bedroom apartment, which I own. I have a full time maid and can dine out at wish. Even though I am only making about 3000, I still can save half of that amount. If I want to maintain that kind of quality of life, how much is minimum I need make per month?
Your rent in NYC will be at least 2k a month for something decent and I would forget the maid service on your 7500 a month salary. You should still be able to dine out but I am afraid no maid service. Sell your apartment where you are now and bank that cash when you get here so you can eventually afford to buy something in NYC. The cost for homes in a good section of NYC can run into the millions of dollars.
Your rent in NYC will be at least 2k a month for something decent and I would forget the maid service on your 7500 a month salary. You should still be able to dine out but I am afraid no maid service. Sell your apartment where you are now and bank that cash when you get here so you can eventually afford to buy something in NYC. The cost for homes in a good section of NYC can run into the millions of dollars.
Thanks for the input. I am not keen on living in the city center after spending years in a much more densely populated city than NYC. I do plan to buy a decent apartment somewhere in Queens or Westerchest with easy commute to Midtown with a budget of around 1 million. Is it feasible on a salary of 7500 a month? i can pay a relatively large sum for downpayment. What I fear is the monthly maintenance plus real estate tax
Your rent in NYC will be at least 2k a month for something decent and I would forget the maid service on your 7500 a month salary. You should still be able to dine out but I am afraid no maid service. Sell your apartment where you are now and bank that cash when you get here so you can eventually afford to buy something in NYC. The cost for homes in a good section of NYC can run into the millions of dollars.
This post is backwards and senseless.
The OP is BRINGING HOME 90 GRAND a year, he can afford maid service.
It ain't that much money monthly.
Quote:
Sell your apartment where you are now and bank that cash when you get here so you can eventually afford to buy something in NYC. The cost for homes in a good section of NYC can run into the millions of dollars
Like I said...he's bringing home 90k..your advising him to save up for a multi-million dollar apt??
Huh?
That's gonna take a looooong time.
Thanks for the input. I am not keen on living in the city center after spending years in a much more densely populated city than NYC. I do plan to buy a decent apartment somewhere in Queens or Westerchest with easy commute to Midtown with a budget of around 1 million. Is it feasible on a salary of 7500 a month? i can pay a relatively large sum for downpayment. What I fear is the monthly maintenance plus real estate tax
I live in 'Westerchest' now, and in Queens before. You can probably do okay either way.
I just wanted to post so I could write Westerchest.
Signed,
Westerchester
p.s. I know it was a typo! Just gave me a case of the giggles, that's all
Full Time Maid service...I think not. Not unless he wants to part with HALF of his take home pay.
A maid in once or twice a week...for sure.
A 3 bedroom apartment in the City AND dining out at will? Not likely.
gen,
You can live very well but it will take a realistic approach to your housing needs.
And a single guy would find much of Queens preferable to family oriented Westerchester County.
I am relocating to NYC soon. My take home salary would be around 7500 a month. I wonder if quality of life would drop significantly on that salary. Currently I am living in a big city in a developing country. I live in a luxury 3 bedroom apartment, which I own. I have a full time maid and can dine out at wish. Even though I am only making about 3000, I still can save half of that amount. If I want to maintain that kind of quality of life, how much is minimum I need make per month?
The quality of life question is too vague, we need more info on the quality of life you currently have:
Questions:
1) Where do you currently live?
2) Do you plan on keeping ownership of the 3br apartment? Or do you plan on selling it?
3) When in NYC do you want to rent a similar apartment like the one you own, or do you intend to buy one?
4) Please tell us more about specific quality of life examples you wish to keep once you move, it will give us a better idea on how much it would cost to maintain here.
This post is backwards and senseless.
The OP is BRINGING HOME 90 GRAND a year, he can afford maid service.
It ain't that much money monthly.
Like I said...he's bringing home 90k..your advising him to save up for a multi-million dollar apt??
Huh?
That's gonna take a looooong time.
Agreed. I don't take home $90k but do earn a 6 figure salary and I can afford a mortgage at $3k per month, utilities AND a cleaning lady. Unless the OP wants a live-in 24/7 maid, maybe that's different but to have someone come once or twice a week is not that costly.
The OP can certainly afford a luxury or very nice/modern apartment (I don't mean a penthouse in the Trump Tower or something) if he's putting down a considerable down payment. I don't think he can swing dining out every night though, depending on his preferences. OP, it can be done and you'd still have a good quality of life. Maybe downsize to a 2 bedroom unless you really need the 3rd.
The quality of life question is too vague, we need more info on the quality of life you currently have:
Questions:
1) Where do you currently live?
2) Do you plan on keeping ownership of the 3br apartment? Or do you plan on selling it?
3) When in NYC do you want to rent a similar apartment like the one you own, or do you intend to buy one?
4) Please tell us more about specific quality of life examples you wish to keep once you move, it will give us a better idea on how much it would cost to maintain here.
True, the term quality of life is quite vague. I definitely understand that the living cost in NYC is extremely high as compared to shanghai, china, where I live now. Interestingly, the cost of living survey done by some consulting firm does rank shanghai way ahead of NYC.
I expect to live comfortably at least. A 3 bedroom apartment or house is minimum, though it does not need to be in Manhattan. My wife and I are expecting kids and my parents will visit me from time to time. that is why I need a big space. I do not expect a full time maid in NYC. but I do want to have some cleaning services once or twice a week, and have a nanny after the child is born. I just wonder how tight is it with a take home salary of 7500.
Agreed. I don't take home $90k but do earn a 6 figure salary and I can afford a mortgage at $3k per month, utilities AND a cleaning lady. Unless the OP wants a live-in 24/7 maid, maybe that's different but to have someone come once or twice a week is not that costly.
The OP can certainly afford a luxury or very nice/modern apartment (I don't mean a penthouse in the Trump Tower or something) if he's putting down a considerable down payment. I don't think he can swing dining out every night though, depending on his preferences. OP, it can be done and you'd still have a good quality of life. Maybe downsize to a 2 bedroom unless you really need the 3rd.
Just wonder how much does it cost to have a cleaning lady, let's say two hours a week? How much does it cost to hire a nanny to take care of the kid? Or NYers just use day care instead
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