I've put off writing this post for the same reason I also miraculously lose service whenever my parents call me to discuss the subject. Take the Hunger Games and Dante's Inferno, throw in some bed bugs and rodent problems - and you've got yourself a good old fashioned NYC apartment hunt!
Even though the average one bedroom rental in NYC is now going for upwards of $2000 a month, you'll still likely agree to traipse from apartment to apartment (with a slightly sketchy broker who you're convinced is purposely sabotaging you) in order the secure the illustrious dream of every wannabe New Yorker - to get an apartment in THE city with your name on the lease. You'll compromise on a little (ie a lot) less space, a couple extra flights of stairs, or a neighbor with more than a few idiosyncrasies - if it means that you have a place to call home in the Big Apple. An apartment, even if it more closely resembles a shoe box, is an apartment, after all.
If you're anything like me you're terrified by the prospect of the entire experience. And while it's certainly not going to be a walk in the park, hopefully the following tips will alleviate some of your anxiety...
1. CALM DOWN.
You have time. You haven't graduated yet. Take a deep breath, shovel some more Ben and Jerry's into your mouth, and CALM DOWN. Okay now that we've got that covered...
2. Narrow the Field
There are lots of different types of apartment buildings in Manhattan and the surrounding Boroughs. Determine what your needs are (will you be living with roommates, do you have a pet etc) and focus on the types of accommodations that best fit those needs.
Metropolis Real Estate gives a great list with descriptions of the different types of buildings that are available in Manhattan...
http://metropolisapts.com/Types-of-Apartments.aspx
* Don't forget, roommates usually mean cheaper rent and a nicer place - now is as good a time as any to learn show to coexist with others
3. Pick a Neighborhood
Manhattan, Brooklyn, Queens, Bronx, Staten Island...Hoboken?
Once you figure out the kind of apartment/building you want to live in you're going to have to decide where you want your home to be. Every borough has a unique feel, its own benefits and disadvantages, and its own reputation. Do some research, ask friends who have lived there, and figure out - BEFORE YOU BUY- if you're more of a Bushwick or a Bronxville kind of kid.
4. Know Your Budget
In Manhattan most landlords and realtors require that your income be 40x you monthly rent (before taxes). If you can't meet this requirement (and lets me honest most recent grads can't) you'll need a guarantor. A guarantor is someone who meets that requirement and can vouch that your rent will get payed on time each month.
Also, remember that aside from paying rent every month, you also need to pay for utilities and cable/internet. While sticking too the 40x your rent rule may not be feasible at first, you don't want to stray too far away from this number - it will teach you pragmatic budgeting and you will learn how to live within your means.
4. HUNT HUNT HUNT!
Now that you've figured out what you want and how much you're willing to pay to get it, it's time to actually begin looking for you (hopefully) welcoming abode.
There are tons of ways to find an apartment but in my opinion there's no reason to go through a broker who is likely to charge you upwards of 15% of the year's rent when this lovely invention called the Internet exists. Here are some of my favorite, no-fee websites to begin your search with:
Apartable
NakedApartments
ListingsProject
NYBits
StreetEasy
UrbanEdgeNY
Some final thoughts...
*Search listings towards the end of the month.
Landlords get a little desperate by the end of the month because they want someone to move into an empty apartment.
*Don't be naive.
Don't be tricked into thinking that you are getting a great deal in a great neighborhood when you are not. If it sounds too good to be true, it likely is.
HAPPY HUNGER GAMES AND MAY THE ODDS BE EVER IN YOUR FAVOR.
Even though the average one bedroom rental in NYC is now going for upwards of $2000 a month, you'll still likely agree to traipse from apartment to apartment (with a slightly sketchy broker who you're convinced is purposely sabotaging you) in order the secure the illustrious dream of every wannabe New Yorker - to get an apartment in THE city with your name on the lease. You'll compromise on a little (ie a lot) less space, a couple extra flights of stairs, or a neighbor with more than a few idiosyncrasies - if it means that you have a place to call home in the Big Apple. An apartment, even if it more closely resembles a shoe box, is an apartment, after all.
If you're anything like me you're terrified by the prospect of the entire experience. And while it's certainly not going to be a walk in the park, hopefully the following tips will alleviate some of your anxiety...
1. CALM DOWN.
You have time. You haven't graduated yet. Take a deep breath, shovel some more Ben and Jerry's into your mouth, and CALM DOWN. Okay now that we've got that covered...
2. Narrow the Field
There are lots of different types of apartment buildings in Manhattan and the surrounding Boroughs. Determine what your needs are (will you be living with roommates, do you have a pet etc) and focus on the types of accommodations that best fit those needs.
Metropolis Real Estate gives a great list with descriptions of the different types of buildings that are available in Manhattan...
http://metropolisapts.com/Types-of-Apartments.aspx
* Don't forget, roommates usually mean cheaper rent and a nicer place - now is as good a time as any to learn show to coexist with others
3. Pick a Neighborhood
Manhattan, Brooklyn, Queens, Bronx, Staten Island...Hoboken?
Once you figure out the kind of apartment/building you want to live in you're going to have to decide where you want your home to be. Every borough has a unique feel, its own benefits and disadvantages, and its own reputation. Do some research, ask friends who have lived there, and figure out - BEFORE YOU BUY- if you're more of a Bushwick or a Bronxville kind of kid.
4. Know Your Budget
In Manhattan most landlords and realtors require that your income be 40x you monthly rent (before taxes). If you can't meet this requirement (and lets me honest most recent grads can't) you'll need a guarantor. A guarantor is someone who meets that requirement and can vouch that your rent will get payed on time each month.
Also, remember that aside from paying rent every month, you also need to pay for utilities and cable/internet. While sticking too the 40x your rent rule may not be feasible at first, you don't want to stray too far away from this number - it will teach you pragmatic budgeting and you will learn how to live within your means.
4. HUNT HUNT HUNT!
Now that you've figured out what you want and how much you're willing to pay to get it, it's time to actually begin looking for you (hopefully) welcoming abode.
There are tons of ways to find an apartment but in my opinion there's no reason to go through a broker who is likely to charge you upwards of 15% of the year's rent when this lovely invention called the Internet exists. Here are some of my favorite, no-fee websites to begin your search with:
Apartable
NakedApartments
ListingsProject
NYBits
StreetEasy
UrbanEdgeNY
Some final thoughts...
*Search listings towards the end of the month.
Landlords get a little desperate by the end of the month because they want someone to move into an empty apartment.
*Don't be naive.
Don't be tricked into thinking that you are getting a great deal in a great neighborhood when you are not. If it sounds too good to be true, it likely is.
HAPPY HUNGER GAMES AND MAY THE ODDS BE EVER IN YOUR FAVOR.