New York City is home to over 8.4 million residents, and this number rises every year. It’s one of the U.S.’s most popular tourist destinations and a cultural hub. So, if you’re thinking about packing your bags and moving away, you have some reading to do.
Start here by and consider these 4 things before moving to New York City.
1. Understand the Cost of Living
As of 2019, the average one could expect to pay renting in New York for a two-bedroom apartment was $2,499. The cost of utilities and other services like the internet is on par with the rest of the country.
Food costs are also higher than the national average, but factors like eating out or delivery may account for higher bills.
2. Learn How to Use Public Transportation
The subway system is the most popular public transit system in NYC. They operate around the clock, seven days a week, and costs only $2.75 a ride. Second are the buses which you pay for with cash or the same card you use for the subway: a MetroCard.
Of course, you have the option of taxis, rental bikes, rideshares, and walking. Along with familiarizing yourself with subway routes, bus schedules, rail services, and more, you’ll need to decide whether or not you want the option of driving yourself around town. Personal vehicles are rarely needed unless you commute somewhere unreachable by a train or bus, or taxi fare would be too high.
If you want to keep your car, you’ll need to consider whether your new home has protected parking. You may face high auto insurance rates, damage to your vehicle, and fines, at the very least. If you don’t have a guaranteed parking spot to come home to (and even if you do), you may be forced to pay steep rates to park in a garage or blocks away from your home.
3. New York’s Rental Laws
Each state has different rental laws; don’t be caught off guard by these laws you need to know before renting an apartment in NYC.
Unless you’re working independently with a broker, you don’t need to pay the broker’s fees. A few you will have is a security deposit: a refundable amount of money equal to one month to one and a half month’s rent that is returned within two weeks of moving out. You may be denied your security deposit if you still owe money, haven’t returned rental property, to pay for damages or cleaning, or violations to your lease.
Additionally, your landlord must let you know 30-days before increasing your apartment rentals price by 5% or more. Tenants facing eviction have 30 days to leave the property or payout. Lastly, a rental agent or landlord can only charge $20 for application fees.
Check out this site for more information on New York’s rental laws.
4. Get to Know the Neighborhood
Plan a trip for a few days and book a hotel or Airbnb in the area you wish to rent to get a feeling for what living there would be like. Get to know the neighborhood, the people, and immerse yourself in NYC’s rich culture.
This will help you get a sense of how to navigate, what your day-to-day might look like, and how to spend your money wisely.
Think About These Important Things Before Moving to New York City
Moving to New York City may seem like an excellent idea now. Keep in mind aspects like cost of living, how to use public transportation, rental laws, and the neighborhood you’re interested in. Or else you may be in over your head.
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