Latest posts by John English (see all)
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- All you Need to Know about Reference Letters when Buying an NYC Co-op - March 17, 2018
- NYC Real Estate Offers: When do they become binding? - March 14, 2018
With a population of 8.5 million and growing, NYC is definitely a popular place to be. For millennials, moving to the Big Apple can be both an exciting and daunting time. You’ll have a lot to prepare for and without some insider knowledge, it’s hard to know where to start. Don’t fret though, this article here will help you with that. Whether you’re a millennial who’s just arrived in the city or will be soon here’s how to get started.
Finding a place to stay
There’s no denying it, New York, especially Manhattan, is an expensive place to live. You’re very lucky if you can find a studio apartment for less than a $1000. In Manhattan, the average rental price hovers around $3000. Chances are you’ll be sharing with someone. in 2016, 72% of millennials shared their apartment with someone other than a partner, according to a report from New York City Comptroller Scott Stringer.
Greenwood is the No.1 spot for millennials with roughly 27 applications per listing. Such popularity, however, makes it tough to find a place. See the report by app Roomi for more information. Other popular spots are Brooklyn with the neighborhoods of Bushwick and Bedford-Stuyvesant being the most affordable.
When you’re ready to start apartment hunting, get ready for a lot of legwork. Aim to set aside at least three months’ worth of rent for those places that ask for the first month, last month and a security deposit. If you’d rather save yourself a lot of effort, put aside a broker’s fee which can often net you a lucky find.
Landing a Job
If you don’t already have a job waiting for you in NYC then start looking for one as soon as possible. You’re going to be living in one of the most expensive cities in America so you need to have your finances in order. Linkin Jobs is a great place to start. The best opportunities are in the communications or advertising field, which New York is something of a Mecca for.
When negotiating contracts with employers try to swing some extra perks. Things like subsidized monthly metro cards, a moving allowance or a signing bonus can go a long way in helping you settle in.
Speaking of which, make the time to settle into your new neighborhood and learn about the city. When you have free time, use it to explore your neighborhood and the other boroughs. There’s always something going on somewhere in the city and you can find plenty of free things to do.
To keep things under control, make a budget with a category for every single expense. Take care of bills and other big expenses upfront and plan out your ‘fun money’ for each week.
The activity in New York never stops. Even after living years there you’ll still find things to surprise you. Outside of the bigger attractions, there are plenty of lesser known ones. Check up on timeout.com to see what’s going on now and in the coming months. No matter your lifestyle or interests you’ll always find something to do or see.