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I would like some advice on if now is a good time to move out in NYC. I am a NYC native and have been here my whole life. I even went to college here and didn’t get to experience the whole living in campus thing like most college students. I am 24 and live with my parents and siblings in a NYC apartment in Brooklyn and have recently started a new job (5 months) in consulting.
I have been working from home since the pandemic and it’s been really hard to do with such a big family and is stressing me out and has started to affect my work. I was recently selected for an apartment in the housing lottery for $1,900 a month for a one bedroom in BK near public transportation. I make over 80k a year and have over 10k saved and wanted to take the opportunity of being selected for a rent stabilized apartment now.
My family on the other hand thinks that I am not ready and should take some more time before moving out especially since I just started a new job. The apartment isn’t huge but this is NYC and the place is standard size. I really don’t want to give up this opportunity and then down the line have to get something more expensive but I also do want to save especially now.
Is now a good time to move? Should I just stick it out and continue to stay at home when I have no privacy or space or should I take the leap into becoming financially independent?
I don't know if this apartment or situation is the right move but just in general I believe it's time for you to fly on your own. You're 24, you went to college, you have a job and savings.
I would like some advice on if now is a good time to move out in NYC. I am a NYC native and have been here my whole life. I even went to college here and didn’t get to experience the whole living in campus thing like most college students. I am 24 and live with my parents and siblings in a NYC apartment in Brooklyn and have recently started a new job (5 months) in consulting.
I have been working from home since the pandemic and it’s been really hard to do with such a big family and is stressing me out and has started to affect my work. I was recently selected for an apartment in the housing lottery for $1,900 a month for a one bedroom in BK near public transportation. I make over 80k a year and have over 10k saved and wanted to take the opportunity of being selected for a rent stabilized apartment now.
My family on the other hand thinks that I am not ready and should take some more time before moving out especially since I just started a new job. The apartment isn’t huge but this is NYC and the place is standard size. I really don’t want to give up this opportunity and then down the line have to get something more expensive but I also do want to save especially now.
Is now a good time to move? Should I just stick it out and continue to stay at home when I have no privacy or space or should I take the leap into becoming financially independent?
PLEASE SHARE ANY ADVICE YOU MAY HAVE!
If you have you're own room at you're parents and the bathroom is clean, stay at home and save money for a down payment on a condo or house. Also, make sure you have a diversified stock portfolio and roth ira and are saving for retirement. That's real independence. Finish your masters and get any certifications you need now because going to school later sucks.
They are not making more land! Rent is pissing away money when you do not have to.
If you need space once in a while, rent a hotel for the weekend or take a trip out west or take a yoga class.
If you have you're own room at you're parents and the bathroom is clean, stay at home and save money for a down payment on a condo or house. Also, make sure you have a diversified stock portfolio and roth ira and are saving for retirement. That's real independence. Finish your masters and get any certifications you need now because going to school later sucks.
They are not making more land! Rent is pissing away money when you do not have to.
If you need space once in a while, rent a hotel for the weekend or take a trip out west or take a yoga class.
Remember, your goal should be f u money!
Unfortunately I share a room with my sister and we all share a bathroom. I am still contributing at my parents but not as much as I would in my own place! Currently have a retirement fund and was planning to get a house but it’s way too expensive in NYC so I will just invest in real estate in another state instead.
Stay home. Save save save. And buy something down the road. Lived with my parents longer than most of my friends. Best thing I did. You’ll be happy you did down the road.
I don't know if this apartment or situation is the right move but just in general I believe it's time for you to fly on your own. You're 24, you went to college, you have a job and savings.
I agree! Just am a bit unsure if now is the right time since many people that were living in NYC have left and moved back home to save money. I am home and choosing to leave during a global pandemic. Leaving was always the plan but timing is in question
Unless you really love the neighborhood where the apartment is, I wouldn't bite. There are still lots of places where you can land a one-bedroom for under $1,900 even without a lottery, so this is not your last chance at inexpensive rent - you can wait and see. You're also still new at your job, and who knows how the economy will do in the next few months.
Unless you really love the neighborhood where the apartment is, I wouldn't bite. There are still lots of places where you can land a one-bedroom for under $1,900 even without a lottery, so this is not your last chance at inexpensive rent - you can wait and see. You're also still new at your job, and who knows how the economy will do in the next few months.
I agree at being able to find something below 1,900 but it won’t be rent stabilized and might not be a new development either. I am not in love with the neighborhood either and the apartment is not big at all. I just don’t want to lose this opportunity or keep putting off moving out but not sure if this is the best option in a pandemic
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