New York City has for long been a magnet for all and sundry.
From expats moving here for work purposes, to students enrolling for college, from immigrants in search of a better life to dream chasers looking to make it big under the bright lights, the lure of the Big Apple is hard to shake off once the bug bites you.
And understandably so. The capital of the world, this melting pot of cultures that has served as the backdrop of many a TV show and a never-ending list of movies, has plenty of selling points.
For anyone planning to move to New York, however, it’s imperative that you take off the rose-colored glasses and get practical. Because reality tends to hit harder in New York than anywhere else if you’re not well prepared for it.
Here are a couple of important points to keep in mind when moving to the city that never sleeps, whether on your own or through the help of one of the reputable NYC movers that serve the city’s residents. You may also trust the movers in Arlington Heights Il.
Good research on the neighborhood is a good idea
New York City has five boroughs with countless neighborhoods, each with its own unique charm and sub-culture.
Before contacting any moving companies, the first thing you need to do when moving to NYC is settling on a borough, then zero in on a few neighborhoods you feel speak to you. This can be a bit of a hit and miss, and considering the high cost of living in New York, you really want to do proper research before deciding where to put down roots.
Leverage online services like Address Report, StreetEasy and Localize.city to dig up some more detailed info on the neighborhoods you’re targeting. You can also read local blogs to get a feel of a particular area, and if possible, even hang out in the area.
Brokers charge fees in New York
Renters in NYC have to contend with a broker’s fee that’s usually around 15% of your annual rent, although this can come down to 12% especially if you’re ready to move in ASAP.
That’s steep, but that’s the way it works around here.
It’s such an emotive issue that there is a pending case in court (due to Covid-19) to determine who between the landlord and tenant should be forking out the broker’s fee.
There are two types of rentals
To expound on the previous point, it’s good to clarify that not all apartments in New York require you to pay a fee. These are called no-fee listings (the other fee listings).
You do not pay any fees on no-fee apartments that are rented through a management company. In the case of fee listings, you – the tenant – pays the broker a month’s rent or up to 15% of the full year’s lease.
Descriptions can be deceiving
When browsing NYC apartment listings, do not take some of the rosy language used at face value.
For instance, a “luxury” building can be decades old with a parking garage and few doormen. A “unique” apartment as described by a scheming broker could refer to some strange apartment layout.
“Cozy” might imply too small. “Charming” could mean rundown. And so on, and so forth.
Money talks
That’s everywhere, but more so in NYC. In addition to steep rental costs running into a couple of thousand dollars, you also need a similar amount for the security deposit, not to mention the broker’s fee.
When apartment hunting, having a lot of money handy or not more often means getting that ideal apartment or finding out it was snapped barely an hour later, especially in peak season.
One way to keep the initial outlay down is to find a roommate or enter into an apartment-sharing arrangement.
But careful not to jump into any agreements in the fear of missing out on an apartment as you could potentially fall prey to roommate scams, not unheard of in NYC.