If you are looking for an apartment in New York City, you may be well aware that it is not a process to be taken lightly. The NYC housing market is insanely competitive and preparation is key to enable you to take swift and decisive action when you find a place that meets your needs and requirements.
Here is a list of tips from seasoned house hunters in New York City that you can follow to ensure you don’t lose out on the apartment of your dreams.
Get to know the city
In order to find an apartment that is perfect for you, you need to research the city districts and find a place that is in close proximity to where you will be working. You also need to know if the area is right for you. If you like to go out for a jog at night, for example, safety will obviously be a priority. This is also a good time to truly decide if renting is better for you than buying.
Draw up a budget
Make sure that you will be able to cover your monthly expense with ease. By taking your salary into account and calculating your monthly expenses, you will find out how much you have available to pay for rent. You also have to determine your once-off costs of moving to New York City. Brokerage fees can be anything from 9 percent to 17 percent. If you didn’t budget for brokerage fees, you can check out RDNY of NYC for no fee rentals.
To help pay the rent, you can get a roommate to live with you. Make sure that you get along with them and that you trust them. Having someone near you to support you and keep you company can be excellent moral support during difficult days.
Give yourself time
Before starting your search, give yourself ample time to find out exactly what you are looking for, to get your paperwork in order, and to save some money. You also need to have a job offer ready before filling out an application form, so you may want to take this time to make sure that you have one.
You can also make life easier for yourself by waiting until the summer months are over. During summer, New York City’s housing market finds itself in chaos. Demand is high and prices increase. If you wait for winter, you’ll be less likely to lose out on a place that you like and you may get the apartment at a lower rent price.
Don’t be indecisive
When you find an apartment that you like, schedule a viewing as soon as possible. Even during winter, there may be many people looking at the same apartment you are. When you show up for the viewing, be prepared. Have an inspection list available of all the things you need to know about the apartment. This can include everything from water pressure to bed bugs.
You should also have your documentation ready in case you want to apply. You need a copy of your identification document, your bank statements, a written job offer, and enough money to pay a deposit and the first month’s rent. When you don’t have these documents ready, you will have to go back and risk losing the apartment to someone else.
If you do not take the time to do thorough research, you will not know immediately if a place is right for you. This can take the excitement out of the process and leave you feeling overwhelmed and uncertain about what decision to make. Give yourself enough time and make a list of all the things you need for an apartment to support your lifestyle.
