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View Full Version : Estimated dollar amount you should save to move to NYC???



rmassengale
November 20th, 2008, 12:32 PM
How much money should one have saved in order to move to NYC?

Ninjahedge
November 20th, 2008, 05:03 PM
We need more information than that to give an answer.

How much money do you need to retire in Florida?

Until you know what the person is looking for, it is impossible to say.

lofter1
November 20th, 2008, 06:18 PM
Food prices in NYC grocery stores seem to have risen about 20 - 30% in the past 6 months - 1 year.

So it will depend upon when you are planning to move.

No matter when as time passes it's only getting more expensive -- and far more so than it's risen in the recent past. It's being disussed that subway / bus fares are set to rise ~ 50%.

Which also means that pizza by the slice will rise to the same level (old NYC rule of thumb).

rmassengale
November 20th, 2008, 06:56 PM
I'm looking at a little less than $11,000. I'm moving with no job, and looking to get a studio apartment in Harlem for $900. I planned on paying 6 months advance (5 mths advanced and 1 mth security deposit) becasue I don't have very good credit. I figured that I would be able to get into an apartment paying that much in advance. Unfortunately, I don't know anyone in the city.

How realistic do you think my budget is?

1. $900 Harlem Studio (5 mths adv & 1 mth security) = $5,400

2. Three months of living expenses (while I job hunt) = $3,000

3. Pots, Pans, Bed = $500

4. An additional 1k should I not find work in 3 mths = $1,000

5. Hotel at YMCA while I search for an Apt ($70 per night x 14 nights.. hopefully it won't take that long) = $980
__________________________________________________ _____

Total $10,880

Any thoughts?? Can this be done? or, am I simply setting myself up to fail. I'm trying very hard to be realistic and to be prepared.

Schadenfrau
November 20th, 2008, 07:44 PM
You're not going to be able to find anything in Harlem for that price.

RS085
November 20th, 2008, 11:43 PM
Try finding roommates to cut costs, cause youd pay roughly the same in a better area.

Schadenfrau
November 21st, 2008, 12:02 AM
Harlem is a fine area, and I would actually suggest cutting costs by finding a roommate there.

rmassengale
November 21st, 2008, 12:44 PM
I've been looking on craigslist and I've seen quite a few Harlem studios for $900 or less. It seems some of you feel this is a little unrealistic. I'm wondering how much Harlem studios usually rent for??

I just prefer Harlem because to Midtown it's only 15 min vs the 25 from Brooklyn...

Schadenfrau
November 21st, 2008, 01:14 PM
I've been looking on craigslist and I've seen quite a few Harlem studios for $900 or less. It seems some of you feel this is a little unrealistic. I'm wondering how much Harlem studios usually rent for??

I just prefer Harlem because to Midtown it's only 15 min vs the 25 from Brooklyn...

Are you planning on working in midtown? If not, there's no reason to spend much time there.

Anyone I know who has rented a studio in Harlem recently is paying more like $1,300 a month. It's highly probably that what you're seeing on Craigslist is what's known as either a scam or bait and switch. Like this:

http://newyork.craigslist.org/mnh/nfb/917823739.html

"Suggested Rent is Negotiable. Landlord willing to make deals. No Reasonable Offer Will Be Refused."

Come on, now.

Really, if you're only 23 and just moving to the city, why don't you try living with roommates first? When I graduated from college ten years ago, none of my classmates would have ever thought about getting their own place. What's up with all these recent college grads insisting upon studios lately?

rmassengale
November 21st, 2008, 02:28 PM
Wow... $1300!?! Perhaps I'm way off base then. Thank you. I appreciate your advice.

The funny thing about the ad in the link you posted, I looked at that one about 10 times when it was first posted in craigslist... I remember thinking, "what a great deal!"

I do plan on working in Midtown and thought that being Harlem and all, I could at least find Something in the $900 range. There goes my hopes at Harlem.. Any suggestions on Inwood or Washington Heights??

stache
November 21st, 2008, 06:23 PM
Just make sure you're West of Broadway.

rmassengale
November 22nd, 2008, 12:19 PM
How far from Washington Heights to Midtown by subway?

stache
November 22nd, 2008, 06:20 PM
Around 150 blocks.

rmassengale
November 23rd, 2008, 06:40 PM
If $900 too modest for a Harlem studio? What is the usual amount for a small studio in Harlem? Surely not $1200, as you can find a much better location for $1200 in Manhattan.

stache
November 23rd, 2008, 09:51 PM
Anyone I know who has rented a studio in Harlem recently is paying more like $1,300 a month.

Is there a problem? Did you not see this? People are telling you your financial planning is not realistic yet you keep saying the same things. Especially considering you 'failed' in your last attempt in moving here, I'm surprised you have so many questions this time. This thread is getting tiresome.

RS085
November 23rd, 2008, 10:58 PM
Dude, just find a place with roommates to get your feet on the ground. Brooklyn and Queens are pretty feasible for that.

With the way youre saying up you should have the next years rent down practically, so youd have no problem.

rmassengale
November 24th, 2008, 01:44 AM
Thanks RS085. Greatly appreciated.

adchick82
November 24th, 2008, 11:36 PM
If $900 too modest for a Harlem studio? What is the usual amount for a small studio in Harlem? Surely not $1200, as you can find a much better location for $1200 in Manhattan.

$1200 won't get you much in Manhattan as far as living alone goes. I pay $1950 for a railroad-style one bedroom apartment on the UWS (4th floor walk-up in a building built in 1901), and I got a serious deal.

mattyh
May 2nd, 2010, 02:05 PM
Hey guys, this is going to sounds like a stretch but here it goes.

I'm 21 and I currently live in Western Canada. I grew up in California, but have lived here in Edmonton for the past 9 years. My girlfriend is going to hair school right now at a very prestigeous school, and when she is done (in about 12 months) we are planning on moving to The Big Apple. She will be trying to get a job at a salon, preferably in manhattan or perhaps the bronx. I on the other hand have no formal training other than a highschool diploma. I want to know what you guys think I should do for work (I've done everything you can do, I.E Kitchen work, labour, cashier, liquor stores, sales) and what should I do about housing? I mean I would like it if I could get to times square from where I would be living in 30 minutes or less, so that leaves a pretty nice area to live. Please let me know what you think, even if you think it's a stupid idea, please just tell me. Thanks all

lofter1
May 2nd, 2010, 02:26 PM
It's never stupid to want to move to NYC. Starting out neither of you be earning much. If you two can arrive with $20K in the bank to get you started (and provide a cushion while you get on your feet) then that would be one good way to go. While you're working on the move talk out a plan (budget, budget, budget!) and try to stick to it. An exit strategy can be advisable (after arrival re-evaluate at certain points along the way where things actually stand). But hopefully such a plan won't be necessary.

Good luck!

stache
May 2nd, 2010, 02:37 PM
^Agree, and don't bring a lot of stuff along at first. Put it in storage and one of you can go get it when you're both more established.

mattyh
May 16th, 2010, 01:49 AM
20k seems like an awful lot. I am an American citizen so I wont be needing a visa or anything, i can get a job as soon as i get there (hopefully). if i arrived with 5 grand do you think id be able to get started before i ran out of money?

scumonkey
May 16th, 2010, 03:09 AM
Anything is possible... but I wouldn't count on it- you should listen to Lofter and take his WISE advice.
In NYC 5 grand can be a mere pittance ;)

ablarc
May 16th, 2010, 06:58 PM
I on the other hand have no formal training other than a high school diploma. I want to know what you guys think I should do for work...l
Get an education: some field that will give you a scrap of paper in a year. Doesn't much matter what. Are there community colleges where you are?

Any reason you can't go to hair school along with your gf? Could be worse.