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Old 03-13-2007, 03:25 PM
 
4 posts, read 9,910 times
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Default Need Advice: Moving to NYC vs. NJ?

I am moving to NYC this summer for a job I will begin in downtown Manhattan, this is my first job out of college. I will not be able to afford to live in the city, but I am interested in living in Williamsburg, Brooklyn or possibly Jersey City or Hoboken. I am not sure what will give me a better advantage.

I am looking for a 45minute commute. I am also wondering what will provide the best tax advantage for me. My friend tells me that if I choose to live in NJ I will escape the NYC income tax. Does this make a difference even if I am working in the city?

Thanks for your help!
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Old 03-13-2007, 04:06 PM
 
933 posts, read 2,450,179 times
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Quote:
Originally Posted by iceprincess View Post
I am moving to NYC this summer for a job I will begin in downtown Manhattan, this is my first job out of college. I will not be able to afford to live in the city, but I am interested in living in Williamsburg, Brooklyn or possibly Jersey City or Hoboken. I am not sure what will give me a better advantage.

I am looking for a 45minute commute. I am also wondering what will provide the best tax advantage for me. My friend tells me that if I choose to live in NJ I will escape the NYC income tax. Does this make a difference even if I am working in the city?

Thanks for your help!
It is your first job out of college and you are looking to move to some of the most expensive areas of the NYC area?? Williamsburg, Hoboken & Jersey City have become very 'trendy' (aka expensive). Unless you can afford to pay over $2,000 for a one bedroom apartment + a 15% brokers fee or are relying on your parents to guarantee & pay your rent (which is pretty standard amoung the just out of college types moving to the NYC area these days)

How much are you getting paid?? Because there is no way you will qualify unless you are making over $100,000 a year since you must make at least 45 times the monthly rent to qualify to rent an apartment anywhere in the NYC/ NJ region
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Old 03-13-2007, 05:18 PM
 
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I am guessing you will have roommates. That is the way that you will be able to afford things. I have lived in Billyburg and in Jersey City. Hoboken was already too expensive for me- even back in 1988!( I am a working stiff). These are all quick commutes to downtown. Jersey City having the edge on that.(downtown JC anyway)

Based on my experience I would suggest checking out downtown Brooklyn, Boerum Hill, Cobble Hill, Carroll Gardens. If that is too pricey even with a roommate-I would check out J.C. next. Check out Hoboken also to see if it is your cup of tea. Many people you will be working with will probably be living there. Especially if you are working in the finance industry. Hoboken like the areas of Brooklyn I mentioned have much to offer right outside your door. You may also want to check out parts of Williamsburg and Park Slope. I am just suggesting these neighborhoods in the order I think they should be considered based on the criteria you give. I myself prefer the areas of Brooklyn that I listed first here over Hoboken. Mainly because I like what they offer and you have buses and subways that make all local connections or stops within the city.

You will pay NY city and state tax if you live in NJ. It will come out of your check and when you file your return-you are supposed to get back most of the city tax and part of the state tax that you paid during the year. Funny thing is, when I did this - I don't remember getting much back. I am unsure at this point. I hope someone else can answer this one for you. My memory is failing on this one.
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Old 03-13-2007, 07:11 PM
 
Location: Bronx, NY
7,780 posts, read 13,223,703 times
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Take my advice as someone who has been there. Take this time to try to save as much money as you possibly can. It really helps to be thrifty from 21 to 25 so when you get to 25 and a little older the adjustment is easier. 25 and up is usually the time people get a little more serious about planning out their future. You can really get yourself into a lot of debt and find yourself way over your head if your not careful. I was smart but some of my friends and acquaintances weren't as smart and now they are freaking out.

Take a hard look at your finances. NJ will more than likely be the cheaper and more reasonable option.

Also with a 45 minute limit commute you can probably still consider a place in Harlem near one of the express subway lines. Hamilton Heights in Harlem is a nice area, especially around Convent Avenue and Riverside Avenue. Hamilton Heights is basically the area around City College. Around Convent you will be close to the A and D train which are express and usually pretty reliable. Riverside you will be close to the #1 train which is not express but is one of the more reliable train lines and you would only be a few stops away from 96 street where you can catch the 2 or the 3, both express trains.

Morningside Heights is another very nice neighborhood. This is basically the area around Columbia U and is between the Upper West Side and Harlem. Depending on the street you will be reasonaly close to a train.

It will more than likely be cheaper than downtown and all the Brooklyn areas near manhattan, the place will probably be bigger as well. But be prepared to shell out quite a bit in broker's fees. Hope that helps and Good luck.

Last edited by NooYowkur81; 03-13-2007 at 07:21 PM..
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Old 03-13-2007, 07:36 PM
 
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I would not advise Harlem if you have never lived in NY. The upperwestside is expensive-really not a bargain area. You might want to look up there to get an idea of the range of neighborhoods. You will find this useful if you are not familiar with NY.

A roommate is your best option at least for the short-term. That is what most everyone does. It is the way to go. You probably will not save much money in your first year in NY-unless you have a really good job! That is normal. If you are young and new to the city - you will not want to spend money and time on commuting.

My personal experience was that I had several different roommates in my first few years living in NY. Everyone I knew did actually. When you get to know the city better-you will feel more confident going on a lease alone but even then you may sublet a room out to save money. Even people with good jobs do this. It really is an individual thing but you will find that most people your age do not have their own places.
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Old 03-13-2007, 10:49 PM
 
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I agree with Noowyurkr about Harlem: you'll find cheap places, you'll live in Manhattan, you'll have a not-bad commute to downtown. And, except for certain areas, you'll be mostly safe. Also Washington Heights. East Harlem is being renovated and developed too. So many possibilities without having to get out of the island!

Of course, if you're going to work in the Wall Street area, a commute from Jersey zones such as Jersey City or Hoboken is very manageable. But those nice, close-to-Manhattan parts of New Jersey are not cheap anymore.

I wouldn't listen to NickL28. He disregarded Manhattan and now lives in Pennsylvania! Now, that's a commute. You should try the Manhattan living experience, now that you're young.

If you have between 1,200 and 1,600 dollars to spend in monthly rent, you can get walk-up studios and 1-bedrooms in quite a few areas of midtown and downtown Manhattan (Hell's Kitchen, East Village, Garment District).

Above all, come here and try Manhattan. Get rid of the "I-can't-afford-it" mentality and at least try it. If it doesn't work, you can always move to The Bronx!
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Old 03-14-2007, 01:10 AM
 
Location: Bronx, NY
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With 45 minutes you can be a lot more flexible than just Williamsburg, JC, or Hoboken.

Remember, that there are still a lot of areas in the city where you can live in a good neighborhood and rent a 1br for between $1,000 - $1,300. Just keep that in the back of your mind before you sign any lease papers.
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Old 03-14-2007, 06:02 AM
 
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Outer Queens or Brooklyn would allow you to reamain close to subway access. It would be cheaper. The downside is that the commute would be longer (especially night or weekend travel) and there would not be as many entertainment options. Some of those areas are very safe but the trains during nonrush hours can be iffy. If you are out late you will be thinking("I should be in bed by now-it is freezing and I am stuck on a train in the middle of the night").
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Old 03-14-2007, 02:35 PM
 
Location: The #1 sunshine state, Arizona.
11,014 posts, read 9,213,251 times
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Quote:
Originally Posted by Manhattan-ite View Post
I agree with Noowyurkr about Harlem: you'll find cheap places, you'll live in Manhattan, you'll have a not-bad commute to downtown. And, except for certain areas, you'll be mostly safe. Also Washington Heights. East Harlem is being renovated and developed too. So many possibilities without having to get out of the island!

Of course, if you're going to work in the Wall Street area, a commute from Jersey zones such as Jersey City or Hoboken is very manageable. But those nice, close-to-Manhattan parts of New Jersey are not cheap anymore.

I wouldn't listen to NickL28. He disregarded Manhattan and now lives in Pennsylvania! Now, that's a commute. You should try the Manhattan living experience, now that you're young.

If you have between 1,200 and 1,600 dollars to spend in monthly rent, you can get walk-up studios and 1-bedrooms in quite a few areas of midtown and downtown Manhattan (Hell's Kitchen, East Village, Garment District).

Above all, come here and try Manhattan. Get rid of the "I-can't-afford-it" mentality and at least try it. If it doesn't work, you can always move to The Bronx!
Oh by all means, get rid of the "I-can't-afford-it" mentality, and replace it with, "I have better ways to spend my money than on a rent in Manhattan" mentality. You couldn't pay me to live near Times Square. Rats, roaches, garbage, air pollution, noise pollution and you'll be right on the center of it all. Blow your nose, your mucus will be brown from inhaling the great Manhattan air. You'll never ever see any equity from the rent you've paid each month. Don't waste your money. Visit, earn some money, enjoy and then leave!
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Old 03-14-2007, 02:48 PM
 
Location: Bronx, NY
7,780 posts, read 13,223,703 times
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Quote:
Originally Posted by zonababe View Post
Oh by all means, get rid of the "I-can't-afford-it" mentality, and replace it with, "I have better ways to spend my money than on a rent in Manhattan" mentality. You couldn't pay me to live near Times Square. Rats, roaches, garbage, air pollution, noise pollution and you'll be right on the center of it all. Blow your nose, your mucus will be brown from inhaling the great Manhattan air. You'll never ever see any equity from the rent you've paid each month. Don't waste your money. Visit, earn some money, enjoy and then leave!
I guess the ideal is to live in a suburb that is close to the city. That way you get the best of both worlds. But that is practically impossible these days unless your loaded, or somehow inherit a family home.

But if your loaded then you could just live in the city. Hey if I was rich I'd still choose a really nice duplex or a penthouse in the city over a mansion in some isolated gated burb. The burbs are boring and some have a lot of pollution and enviromental problems anwyay, just look at a lot of Jersey and LI for example.
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