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Old 11-05-2009, 12:19 AM
 
5 posts, read 7,278 times
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Hello,

I am about to re-locate for a new position to New York. The company offers 2 options:
-1 bedroom serviced apartment in New Jersey, either Jersey City or Hoboken for $600 (including all utilities and bi-weekly housekeeping service)
- housing allowance of $1450 (net, after tax) and coverage of broker fees

I will be working at Time Square and was thinking about moving in the Hell's Kitchen area if I would choose option 2.
I will be looking at roughly 3-3.5K monthly salary (net, after tax).

I am struggling to decide which option to go for and would appreciate any recommendations.
Thank you very much!

Tom
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Old 11-05-2009, 05:45 AM
 
7,079 posts, read 34,464,964 times
Reputation: 4036
Take the deal in NJ. You'll be MUCH better off financially.
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Old 11-05-2009, 05:58 AM
 
11,918 posts, read 22,188,508 times
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So you can pay $600 for the NJ place or have $1450 to apply towards NYC rent?

I'd take the NYC deal, but it depends on your lifestyle and NYC expectations. In Hell's Kitchen, you can probably find a large-ish studio for $2,000, so you'd kick in $550 of your own money for that (less than the NJ place). Plus, you could walk to work in TiMes Square so you wouldn't necessarily need a monthly Metrocard (save maybe $40 there).

If you think you'll be going out a lot and exploring the city, I'd live in NYC so you're not on the PATH late at night or taking expensive cab rides home to NJ.
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Old 11-05-2009, 06:04 AM
 
306 posts, read 240,582 times
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In the end, once you kick in your own 500 for Hells Kitchen it's the same rent wise. However, you would have better access to work, etc.

But, expect to pay a huge difference in food and other entertainment prices in Manhattan over NJ.

If you decide on the NJ option........ definately take Hoboken over JC.
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Old 11-05-2009, 06:24 AM
 
7,079 posts, read 34,464,964 times
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Note that the NJ apartment is SERVICED: you'll have a cleaning service!!! THAT can be priceless! Plus, don't forget the utilities you'll have to pay in a rental apartment - included in the service apartment from what you said.
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Old 11-05-2009, 06:29 AM
 
306 posts, read 240,582 times
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Also, do you have any idea what you are doing with your car?

Definately, do not bring a car with you to Manhattan.

A car in JC/Hoboken is optional too. Some have cars, but you can get by easily there without one.

If for some reason you just leased a brand new car or just bought a new car that you want to keep, go with JC or Hoboken.

I believe parking garages in Manhattan are about 500 a month.

Last edited by UrbanLover; 11-05-2009 at 06:40 AM..
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Old 11-05-2009, 06:33 AM
 
7,079 posts, read 34,464,964 times
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Absolutely do NOT bring a car with you. Parking in NYC on the street disrupts your entire life (I'm not kidding, either!) and garages START at around $400/month and go up from there. Check www.bestparking.com for prices in various areas.
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Old 11-05-2009, 06:50 AM
 
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I would also add that living in NYC will make you subject to the NYC income tax.
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Old 11-05-2009, 09:25 AM
 
Location: Washington, DC & New York
10,830 posts, read 26,347,923 times
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I agree with Viralmd. Take the NJ deal, since you're minutes from the city, literally. You're very close-in with an apartment in Hoboken, since it's just across the Hudson and is easily serviced by transit (boat, train, bus).
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Old 11-05-2009, 10:25 AM
 
Location: Bronx, New York
3,180 posts, read 6,330,312 times
Reputation: 1284
Jersey Pro
1. $600 1BR (especially furnished) is rarely beat anywhere in NY area
2. Both JC and Hobo have easy transportation options
3. Both JC and Hobo are super-hip cities

Jersey Con
1. An 'outerborough'
2. PATH trains schedules not the same at night
3. Need car to get around rest of Jersey

NY Pro
1. Housing allowance
2. In the middle of the action
3. No car necessary

NY Con
1. $1450 hardly does anything for Manhattan
2. A LOT of traffic in the Kitchen!
3. Furnish your own apartment
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