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My brother and I have been discussing this and would like to crowdsource opinions!
He's currently living in a 500sqft rent-stabilized 1-bed for the past few years
-$2.6k/mo
-Downtown BK area close by BK Heights / Jay Street Metrotech
-5 min walk to a dozen subway lines and Trader Joes
-Amenities: doorman, pool, lounge, gym, rooftop
-Washer/dryer in unit
-Dishwasher
-Large floor to ceiling windows
He was asked to submit documents for a 480sqft studio (good layout) in south Clinton Hill (Atlantic Ave and Washington Street)
-$2.0k/mo, so $600/mo less than his current place
-Decent but smaller windows
-10min subway deeper into BK from where he currently lives
-The amenities and fee are comparable
-Washer/dryer in unit
-Dishwasher
-Only 2 subway lines close by. The C and G are 5 min walks. Atlantic Terminal which has the 2,3,4,5,N,Q,R is a 15 min walk.
-Seems to be less restaurants / cafes / things to do within walking distance
If I were your brother & I could afford $2.6K/mo I won't move into a studio though it has cheaper rent unless your brother plans to save up to buy a property one day (or something else that requires serious saving up) or $2.6K/mo is tough for him so far then he may want to downgrade to a studio with hoping he can have more money for anything else. Good luck to your brother in his decision!
If I were your brother & I could afford $2.6K/mo I won't move into a studio though it has cheaper rent unless your brother plans to save up to buy a property one day (or something else that requires serious saving up) or $2.6K/mo is tough for him so far then he may want to downgrade to a studio with hoping he can have more money for anything else. Good luck to your brother in his decision!
Thanks appreciate it! He tends to be a much more aggressive saver than me lol. The 1-bed is similar in size to the studio, so is it actually that much more preferable?
Despite the size, 1BR has more privacy than a studio, I don't know about your brother's living situation but if he has a romantic partner & they have a visitor staying over, a studio may be a bit awkward in terms of privacy, just saying... But again, it goes back to your brother & what he wants.
Quote:
Originally Posted by robinelle
Thanks appreciate it! He tends to be a much more aggressive saver than me lol. The 1-bed is similar in size to the studio, so is it actually that much more preferable?
Living in the area myself, I think his present location definitely trumps the other one as far as convenience and commute, yes. But the other spot is actually close to lots of restaurants and cafes south of there along Vanderbilt and Washington. But I don't think the new building has a pool, and Atlantic itself is a meh location. So I think it's going to come down to if he really wants to save money on rent, which is not trivial at all.
Let's get an estimate of income. $600/mo. certainly isn't trivial but there are incomes at which it's the difference between ramen and decent meals, and at which it's the difference between a three-day vacation and a four-day vacation.
this would be a tough decision for me as $600 is not a small amount to save especially when size of apt is same... really depends on if your brother thinks the convenience of his current location is worth that $600. also is the studio RS as well?
Let's get an estimate of income. $600/mo. certainly isn't trivial but there are incomes at which it's the difference between ramen and decent meals, and at which it's the difference between a three-day vacation and a four-day vacation.
He hasn't told me how much he makes, but if I had to guess, probably ~100k give or take. He works in an industry where salaries increase fast tho. Wouldn't be surprised if it were double in that 2-3 yrs.
this would be a tough decision for me as $600 is not a small amount to save especially when size of apt is same... really depends on if your brother thinks the convenience of his current location is worth that $600. also is the studio RS as well?
I would move. 600/month is a lot of money after all the tax and deductions. Plus the studio has w/d so I don't feel like it's too much a downgrade. That's just my opinion. I feel like he already knows which one he prefers so go with his heart.
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