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This message is for everyone who is seeking to move to NYC. I would like to share my experiences and hopefully this post will help many.
If anyone has any particular questions please don't hesitate to message me or post here. I am full of info!
Let start with the basics- NYC is VERY expensive! Let me repeat this VERRYY expensive! However it is possible to live here on a budget but one must consider several things very carefully. Please see below several topics that I consider important, and remember NYC is a very cool place to live and I am in noo way discouraging anyone-just providing useful info!
First the finances:
Housing- It is very difficult to find housing in Manhattan, particularly in the summer, as the turnaround time is very quick. You need to be prepared to spend at LEAST 3x the rent upfront and show substantial resources.
Most bigger agencies also require 40x rent/year which is ridiculous but this is just the way it is!
It is possible to avoid this by going through smaller brokers on craigslist or other resources but you will still have to pay them a broker fee (usually 1 month's rent). Some companies try to ask for 10% fee but sometimes you can try to negotiate. It is very rare that you find a no broker apartment especially in Manhattan. Also they expect your credit to be in the 700 range.
Prices really vary by area and year, but on average expect to pay at least 2000 for a small 1 bedroom.
Also be ready for the fact that many apartments are located in old buildings with stairs.
As far as areas, I am extremely familiar with Manhattan, but on average downtown will be more expensive and smaller while upper east side and west is more residential and cheaper.
Of course there are also bad and good areas and all depends on personal choice. Do you want to be downtown with all the craziness and millions of people, uptown with all the families/kids or perhaps in the suburbs. You could literally walk couple of blocks and find yourself in a different neighborhood/environment.
As far as the interior of apartments go, I know for me it was a big adjustment. Many apartments do not have dishwashers, have small kitchens and very limited space. Of course this depends whether you live in a newer or older building and in Manhattan or not, but overall expect a change.
I know that due to this I did start eating out way more here, partly due to the great restaurants, but this can get pretty expensive
Be prepared also that food in grocery stores might be more expensive than in your home town as well.
If you have kids and are considering public schools- I can definitely help you as well! Elementary schools are usually zoned and you need to live in the area before applying. Spaces fill up fast and there is a chance that you will not get a placement in the nearest schools. There are many good zoned schools in the upper east side, west side as well as many downtown areas. All of this can be researched through the NYC educational site. If you are considering applying your kids to a magnet or gifted school those applications are usually due way in advance so you may have to do this next year.
Middle schools and HS are not zone specific, but I am less familiar with these.
Cars- If you are moving to Manhattan...do not bring your car!!! I have one and it is a pain! If you are in Manhattan you will rarely use it and will either have to pay ridiculous fees for parking in a garage (at least 500$/month if you are lucky) or will have to move your car during street cleaning 2x week during work hours and endure damage on your car. Also the insurance is very expensive here because of this. SO just don't bring it! This is Manhattan specific, if you are going to some of the other boroughs the situation might be slightly easier. Also cops LOVE giving out tickets here, I would say it is almost unavoidable.
Hope this helped! And ask any questions!
P.S One last thing about the apartment hunt. If you go through craigslist be aware that almost all the listings are done by brokers who may "pretend" to post private posts, so make sure to ask what their fees are. Good luck!
I kind of hope more ppl move out first before letting ppl in...isn't it already overcrowded? i know some spots will free up when airborneguy and availableguy retire...
I kind of hope more ppl move out first before letting ppl in...isn't it already overcrowded? i know some spots will free up when airborneguy and availableguy retire...
Most bigger agencies also require 40x rent/year which is ridiculous but this is just the way it is!
This might seem like a ridiculous rule and is meant to protect landlords but it also helps out renters. If you don't make 40x rent, you are probably just living beyond your means.
I don't agree with this, you don't need to earn 40x rent to live here. I think a regular requirement of showing you have 3x rent/month is good enough
"Most bigger agencies also require 40x rent/year"
Just to clarify, the requirement is that you make 40x the rent. So if it's a $2,000/ month apartment, you should make $80,000/year.
Again, it's not "what you have" it's what you make.
From your last comment, you are saying a landlord should accept you into a $2,000 apartment if you "have" $6,000"... That's asinine. You need proof of your income for the year to make your rental payments. To make $24,000 of rental payments in the year, they want to make sure you make $80,000. Not unreasonable. If you were in the position of a landlord, you would understand. You can't just accept anyone off the street who has $6,000 in their bank.
All I am saying is NYC is one of the only places with such a rule, even big cities such as SF or other places do not require this. For example someone who makes 60,000 might just as well cover these expenses as a person who makes 80,000.
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