Thinking to move here.. have some questions :) (New York, York: middle-class, for rent)
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100K is more than enough for a responsible person, what do you mean it's not enough?
To the OP, you will be welcomed here. We also have Wholefoods and Trader Joes. Costco's is in Jersey City across the tunnel.
As for the friendship part, it really depends what community you will associate with.
Why do you restrict yourself to a walkup? There are plenty of luxury buildings with amenities from which to rent from. Go on StreetEasy and type in the rent you'd like to pay and begin your search there. Alternatively, you can also look at Jersey City.
100K is more than enough for a responsible person, what do you mean it's not enough?
To the OP, you will be welcomed here. We also have Wholefoods and Trader Joes. Costco's is in Jersey City across the tunnel.
As for the friendship part, it really depends what community you will associate with.
Why do you restrict yourself to a walkup? There are plenty of luxury buildings with amenities from which to rent from. Go on StreetEasy and type in the rent you'd like to pay and begin your search there. Alternatively, you can also look at Jersey City.
- 100k
MINUS
- taxes, 401k, health insurance, dental, eye, student loan, cc payment, car note, rent, hsa, 529 etc.
I think you will be fine. Some things cost more, some less. NYC does have a separate city income tax. Pre-pandemic days, there were many free events for entertainment of all different types. New Yorkers can also be cliquey but there will be lots of opportunities for you to meet new people, once the pandemic is over. There are plenty of Asian and non-Asian markets for all types of cuisines. We've got a lot more than generic Whole Foods. I don't know if you are into this, but there are several different meditation centers and temples scattered throughout NYC, some with their own restaurant.
I'm from India, raised in the states since I was a toddler. Educationwise, have a degree in engineering. Looking for an area with young professionals like myself, really. Prefer a diverse area, unlike Lincoln Park in Chicago.
Just don't want to live next to the dregs of society.. I need quiet and cleanliness in my apartment.
Don't know if you mentioned this or not, are you single and looking for quick fun, an LTR or something in-between?
Very practical question that will determine what neighborhood you should aim for.
- taxes, 401k, health insurance, dental, eye, student loan, cc payment, car note, rent, hsa, 529 etc.
EQUALS
- basically broke
It depends if he has student loans, how long he intends to stay here and how much liquid cash buffer he has. 150k with no kids, no debt in Queens you're doing OK. Also strike car off the list and he's saving $12k a year in gas, insurance etc.
The positive part I am personally reminded of as a Native NYer looking at what's happening in Texas right now. There's no way ConEd bill would ever be $16k (unless you're Bitcoin mining or growing weed). So lower chances of unexpected expenses here.
Don't know if you mentioned this or not, are you single and looking for quick fun, an LTR or something in-between?
Very practical question that will determine what neighborhood you should aim for.
Yes single. Ideally looking for a LTR, but if something happens before that I wouldn't say no.
Quote:
Originally Posted by Tencent
It depends if he has student loans, how long he intends to stay here and how much liquid cash buffer he has. 150k with no kids, no debt in Queens you're doing OK. Also strike car off the list and he's saving $12k a year in gas, insurance etc.
The positive part I am personally reminded of as a Native NYer looking at what's happening in Texas right now. There's no way ConEd bill would ever be $16k (unless you're Bitcoin mining or growing weed). So lower chances of unexpected expenses here.
So realistically this is the budget I'm working with.
$9000/month gross
-$2707 tax
-$1178 401k
-$640 student loan
-$75 phone, spotify, netflix
=$4408 to spend on rent/food/entertainment/transit
The $50k in investments is divided monthly; it's an estimate, but in a typical month I'd say I'm guaranteed $2000/month, so roughly $1500 after tax. The additional $26,000/year is random.. I have investments in latent high profile companies that can pop off at any moment (they are required to announce within a short time frame).
Total available for rent/food/entertainment/transit would be $5900.
I could do:
$2500 for apartment
$400 for food (I cook a lot)
$500 for entertainment/transit
Yes single. Ideally looking for a LTR, but if something happens before that I wouldn't say no.
So realistically this is the budget I'm working with.
$9000/month gross
-$2707 tax
-$1178 401k
-$640 student loan
-$75 phone, spotify, netflix
=$4408 to spend on rent/food/entertainment/transit
The $50k in investments is divided monthly; it's an estimate, but in a typical month I'd say I'm guaranteed $2000/month, so roughly $1500 after tax. The additional $26,000/year is random.. I have investments in latent high profile companies that can pop off at any moment (they are required to announce within a short time frame).
Total available for rent/food/entertainment/transit would be $5900.
I could do:
$2500 for apartment
$400 for food (I cook a lot)
$500 for entertainment/transit
Leaves me with $2500/month in cash savings.
Don't forget to add things like
Internet
Con Ed
Laundry
Gym
Cable
Happy to hear you're thinking about moving to NYC! I've lived here pretty much my entire life and love it. I wouldn't change it for the world.
$100k is definitely enough to live comfortably in NYC; plenty of people do so with less.
$2.5k is enough to rent a decent apartment, especially if you're willing to room with someone. Even pre-pandemic, you could at least find a good studio in a very nice building for less than $2.5k, pretty much in any decent / popular neighborhood slightly outside of Manhattan. If you're intent on living in Manhattan, I still think $2.5k is doable for a good studio. Nowadays, I've seen 1bd rooms go for about the $2.5k in luxury buildings outside Manhattan, though I believe it may be net effective and you'll have to do your research.
Groceries may be a bit more expensive, but I don't think prices here are that much more than other major cities.
In my opinion, the most important thing is deciding on a neighborhood you'd be happy with in terms of the community, commute, and available apartments.
Wide range of apartments between "luxury" and "walk up".
Check Streeteasy dot com for apartments.
Many LL are giving concessions since it's a weak market. They'll say 3 months free for a 12 month lease. For listing purposes, they then take the rent for the 12 months and divide it by the 15 months to show a low monthly rent. What happens is that you pay the full monthly lease rate for 12 months and then live three months without paying rent. However, after those 15 months, if you stay, you will pay the regular monthly rent.
Lots of apartments in Manhattan for $2000 - $2500. Even more if you look outside Manhattan.
Upper West Side, either on/near Central Park West or West End/Riverside.
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