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Hi Guys,
My company just offer me to relocate to NYC, my salary will be ~130k per year (including health insurance and cell phone budget).
Is it enough to live in NYC (i'm a single 33 years old)?
With this salary, what will be the prefer budget for apartment (and where?)?
i will work from home so i will need 2BR (flex).
p.s
i went over the sticky thread and i didn't find too much.
It's enough. Figure out how much you want to or can spend on an apartment, and work backwards from there to see what neighborhoods it puts you in. Don't rule out Brooklyn. Will you have a car?
Hi Guys,
My company just offer me to relocate to NYC, my salary will be ~130k per year (including health insurance and cell phone budget).
Is it enough to live in NYC (i'm a single 33 years old)?
With this salary, what will be the prefer budget for apartment (and where?)?
i will work from home so i will need 2BR (flex).
p.s
i went over the sticky thread and i didn't find too much.
Thanks,
Matt
six figures is good enough to live anywhere and not be broke....nyc is not monaco...the unwritten rule is to spend 30% of your gross income on rent
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Thanks guys...
Another Q, i went over craigslist and i saw apartments (around Battery Park) that include gym, 24h on-site parking garage), is that all include in the rent price?[SIZE=+3][/SIZE]
i really want to have a car (i was planning to buy new M3 but because i'm thinking to move i'm not sure).
In Manhattan, parking isn't included in the rent. Figure on $400/month at LEAST for a Manhattan garage. The gyms often charge, as well. Insurance for a car in Manhattan will also run a few thousand/year.
And don't forget electricity, gas (for cooking), cable, internet, etc. Or NYC income tax.
A car is considered a real luxury in Manhattan. They're a pain in the neck if you don't need one every day. For weekends or occasional use, many people use Zipcar (rental by the day or hour) or other rental cars. In the end, that's far more economical than actually owning a car.
It's certainly do-able to have a car if you make $130K, but you have to make sure you are budgeting correctly for car expenses (insurance and garage, mostly). Call your insurance company and ask for a quote on the car you want to get, and give a Manhattan zipcode. They should be able to give you a quote. Then call one of the Battery Park places and ask how much extra is the garage space.
Also, be aware that craigslist is full of bait and switch ads. So you can do some "research" on there, but you won't know if it's accurate or not til you actually see the place. If you have some time, do some reading of "The Hunt" columns from the NY Times on Sundays from the past year or so. This is not always totally accurate either, but more so than craigslist.
There is a thread on here somewhere where laterkii (not sure if I have the name right) said he is renting in a new-construction condo in Greenpoint and only pays 150 a month for the garage.
If I lived in Manhattan, I would not even want a car. In the other boroughs it makes somewhat more sense, but even then, certainly not a necessity and sometimes more of a liability than an asset.
There is a thread on here somewhere where laterkii (not sure if I have the name right) said he is renting in a new-construction condo in Greenpoint and only pays 150 a month for the garage.
If I lived in Manhattan, I would not even want a car. In the other boroughs it makes somewhat more sense, but even then, certainly not a necessity and sometimes more of a liability than an asset.
Yes Henna, I only pay $150 per month for indoor parking but don't even drive much at all. The OP should definitely look at brand new buildings close to Manhattan in areas like Long Island City, Queens, Greenpoint and Williamsburg Brooklyn because those areas overbuilt during the condo boom and now that all of those new buildings can't sell units, most are converting into apartments. For the same price in Manhattan, you can get a brand new apt, doorman, elevator, more sq footage, dishwasher, washer/dryer, gym in building included, cheaper parking, etc in BK and Queens. The owners are desperate to recoup their losses so they are making some rental deals now. A good number of the residents in my building(as well as Long Island City on the waterfront) are from out of state so you won't feel out of place. You just have to decide what's more important to you, location or amenities. I don't mind a 30-40 min commute everyday when I can go home to something comfortable and nice. Not everyone is like me, I have a friend who lives in Greenwich Village who pays $500 more than me and lives in a studio half the size of mines who NO amenities BUT lives in an AWESOME neighborhood. Just weigh your options, you'll be fine with that salary but still budget, money goes fast here.
Good Luck
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