Many people dream of packing up their life, getting out of that one-horse town, and starting anew in New York City, and why wouldn’t they? But, can you afford to move to NYC?!
As the cultural capital of the world, New York has something for everybody, but the question is: Can you afford to move to NYC?
Like any big city, you need to be able to afford it, and while you’ve romanticized boho dreams of the struggling artist, there is nothing glamorous about struggling to make ends meet.
Our founder, Fernanda, did THE move almost 6 years ago and has quite an exciting story to share!
Before making your move to the Big Apple, here’s what you need to know.
Fix Your Finances
Fixing your finances is vital before you make any significant move. So, it’s not wise to make your move while still partying off debts, especially considering how expensive New York can be.
There are solutions to help you, though.
For example, the Debt to Success System is completely legitimate, and it can assist in fixing your finances and providing crucial debt relief to make you more confident before making your move.
Another idea is to start putting together a thorough spreadsheet where you can start listing all your future expenses to understand what your monthly cost would be. With that number in mind, it will be easier to start planning.
Know The Neighborhood
There are plenty of neighborhoods across New York. Some of them are hip and fun, whereas others have seen better days. This might be something that appeals to you, so it’s worth knowing where you want to live, and whether that’s even possible.
For families, Metropolitan New York is the best place to go, but if you want to be close to culture and the financial hub, there is nowhere more suitable than Manhattan.
However, you could also consider Brooklyn and Queens, while Staten Island and the Bronx are enjoying something of a regeneration, with plenty of low-income housing available to help mitigate the initial costs.
Finding a Job
There are plenty of jobs in New York, but this could depend on what you’re looking for.
Many people come to New York to live their dream. They want to get into TV, or they want to take Broadway by storm. While there’s nothing wrong with having these dreams, the competition can be fierce and brutal.
Don’t expect to be able to waltz in and have your pick of the jobs available unless you have arranged beforehand, whether you’re a US citizen or someone coming in on a working visa.
There are ways to supplement your income in the interim, with hospitality opportunities in abundance. Well, it’s actually something to keep your eyes on and follow the post Covid scenario.
Making Concessions
As of last year, the average rent for a two-bed apartment in the city is $2,499, while studio and one-bedroom places are $1,889 and $2,098 for the month. This means, if you want to afford to live in NYC, you’ll need to make several concessions.
Apartment sharing is popular (and necessary), while you may also have to give up luxuries.
Some of these luxuries won’t matter, such as your car because of the wealth of transport options, but you may also need to give Netflix a miss too, at least until you find your footing.
The City So Nice
There are uncountable reasons why so many people flock to New York City every year with dreams of making it big or even experiencing one of the most exciting places in the world.
The city can be as expensive as you make it, but you’ll still need to have a decent backup of funds before you arrive.
So, start planning yourself and don’t forget to count on unexpected expenses…they always show up in New York City! Plan, plan and plan!
Photo Credit: Kat Maryschuk and Matteo Catanese on Unsplash
