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For me, I was born in Queens and lived there until I was 3 and we moved to Long Island. I grew up there and went nearly every weekend to Manhattan to visit my grandma, and my Aunt in Queens from time to time as well. So, in a way I did some of my growing up in the city. I always loved the city as a kid and teenager and said I wanted to live there after I graduated college. Well, here I am. I'm in Queens now temporarily in my Aunts house paying rent ($600, mind you. My own Aunt, for an apt the size of a closet). I was all excited about being here at first, but after just 2 1/2 months it's starting to get old. This is some place I'd love to be at my age (23), but I don't want to be here for more than 2-3 more years. I find that it's very tiring to get around here. It's much easier getting around on Long Island. I thought it would be the opposite; harder on Long Island and easy in the city. It takes me twice as long to get to some place by mass transit than driving on LI.
Anyway, I see myself here for a couple more years, but that's it. My boyfriend and I plan on buying a condo for the 2 of us in Nassau county on Long Island, then buying a house most likely in my hometown that I grew up in, in western Suffolk county. The city is some place I'd most likely just like to visit now and then, for family and to go get my ethnic foods I love so much.
Long Island, is one of the most expensive places to live. Even more than NJ and CT overall. Heavy property taxes, state income tax, and expensive cost of living overall.
It's called "Golden Handcuffs": not being able to move elsewhere because you won't get a comparable salary anywhere else. It's a rather common problem in big cities like NYC and SF, even if you want to and can move the salary drop is a giant kick in the nuts. My spouse and I had the problem for a while, but other large cities are starting to have better job prospects as fortune 5's and finance companies start setting up satellite locations outside of the tri-state and Cali because the tax environment and business climate suck balls. You have companies starting to flee and causing a bit of brain drain from NY and CA to other states, look for opportunities in cities that are having an business influx from other states.
Golden Handcuff is for people who failed at personal finance. You can always live anywhere as long as you do the math and determine what is the best deal.
Is it better to be in NYC and make $100k vs $70k elsewhere?
A lot of people stay here because they don't make enough and the lifestyle here made it hard to save enough for many NYers to move elsewhere.
A lot of NYers are only getting by because they can live frugal or cheap with roomsharing or at relatives. They don't make enough to buy a home with the prices of homes raising sharply higher here and generally elsewhere.
Most people don't have enough savings for more than 1-2 month of expenses. There's no way they can move out of NYC unless they get help.
We left a year ago to move to Virginia...and we really miss NY. A couple weeks ago however we went up to the city to look at apartments in Queens and Brooklyn. It was a hot and humid day, about 95 degrees...we rode the subway. We looked at apartments that were 2nd, 3rd, 4th floor, no a/c, no washer/dryers allowed. All I could think about was lugging my laundry two blocks down the street to the nearest laundromat on a hot day....and I started thinking about the amenities that we have here living in Virginia. We have a nice apartment with central air, washer/dryer, dishwasher, pool, nature trail, etc.
I think you really have to stop and think about the little quality of life things and how important they are to you. The day after we got back was the day NYC had the bad rain storm and all the subways got flooded...and this forum was filled with people complaining about it. I got in my air-conditioned car and drove to work. There are a lot of trade-offs...as much as I love and miss NYC...I'm having some second thoughts.
Do only some apartments buildings have washer/dryer available?
NYC:
Positives: Shorter commutes to work, property investment if you have it
Negatives: Housing prices, less space, rat race
Immediate suburbs (LI, NJ, Westchester, Rockland):
Positives: cheaper housing, more space than city
Negatives: High property taxes
Pennsylvania:
Positives: Cheaper housing, low property taxes
Negatives: Long commutes (2Hr+) if you work in NY
Down South:
Positives: Real cheap housing, land, retirement, slow pace etc.
Negatives: Lack of Home appreciation, slow pace, job market, not many job/homeowner/renter protections as NYC
I Would add cookie cutter sprawl and lack of city/night life to the Down south part.
The commute is only good if you have the money to afford living near your job or a car (referring to New York). It'll probably be worse than living elsewhere where a car is necessary but the trip is shorter.
You pretty much don't need a car though, which is a benefit I am very happy with after dealing with $900 repairs and running my Taurus into the ground.
Golden Handcuff is for people who failed at personal finance. You can always live anywhere as long as you do the math and determine what is the best deal.
Is it better to be in NYC and make $100k vs $70k elsewhere?
A lot of people stay here because they don't make enough and the lifestyle here made it hard to save enough for many NYers to move elsewhere.
A lot of NYers are only getting by because they can live frugal or cheap with roomsharing or at relatives. They don't make enough to buy a home with the prices of homes raising sharply higher here and generally elsewhere.
Most people don't have enough savings for more than 1-2 month of expenses. There's no way they can move out of NYC unless they get help.
You're assuming I was referring strictly to finance, I wasn't. The golden handcuff effect is widespread across a lot of different industries. There are many careers that aren't worth very much (or as much) outside of the big cities, the cost of living inflation effect can be rather deceiving when it comes to what a career is really worth. And yes, if you factor in tax savings and lower cost of living you very well may be better off taking a marginal pay cut moving somewhere else. I think part of it is that people get so used to getting anally raped by the city/state/federal/sales taxes and high cost of living that they just assume it's the norm wherever you go.
I left NYC after taking a good hard look at myself and coming to the conclusion that it's just not for me.
It's a great city. I mean, as far as cities go, it just might be the best in the world.
And I'll return to visit friends and family from time to time. But I need the ocean and mountains and warm weather on a daily basis. I'll sacrifice earning potential for it
NYC is a great city, but after having spent 6 years there and growing my career, I was very happy to leave a year and a half ago and start a much more balanced life. For those of us that grew up outside of the city, it really is hard to comprehend why people choose to pay what they do and lead the hectic NYC lifestyle. I work for the same company and relocated to Chicago where my 60+ hour a week job is now around 40. I was able to keep my NYC salary and think that most would be surprised that the pay in NYC is achievable in other cities if you are marketable.
Eastbounddownchick - There are restaurants in other cities that aren't chains. I am not sure what your jaded history with Detroit is, but having grown up 20 minutes outside of there, I am aware of the area and what is going on there. Yes, the downtown area is bad and has crime, this is true in all major cities. But what about a 20 minute drive north to all of the lakes in Oakland County? All of the new restaurants and bars in Ferndale? The atmosphere in the Downtown when sporting events are going on is great.
I still visit NYC a couple of times a year and enjoy those visits, but once it comes time to leave I am glad to get back to a home and normal pace of life. Maybe I will hit up a Michelin restaurant or two next week here in Chicago, because I can now afford to and I can also make reservations.
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