You don’t need to use an online calculator to find out that life in New York isn’t exactly cheap. Yes, you have a great job and a stable source of income, but this doesn’t mean that you have to throw money out the window by overspending on rent. These days, more and more people decide to benefit by the reduced responsibilities and increased flexibility involved by a lease. If you want to rent an apartment in New York City on a tight budget, you should know that the competition can be tough. Even so, there are certain tips that you can apply to save big bucks and profit from the level of comfort that you actually deserve.
Determine How Much You Can Actually Afford to Spend on Rent. Any real estate agent will tell you that your rental rates shouldn’t exceed 30% of your monthly gross income. Another 4% of the overall value of your paycheck will be directed towards housing expenses, such as utility costs. Do the math and figure out how much money you can invest in your new rental.
Use Online Tools to Compare Rental Costs in Different Neighborhoods. Do you feel ready to rent an apartment in New York? If you live from paycheck to paycheck, you should rationalize your costs and use every single tool that you can count on to control your regular expenses. Go online and check out different listings to estimate and compare rental rates in the Big Apple. Keep in mind that the nicest apartment isn’t necessarily the most expensive one.
Pay Attention to Several Factors That Could Force You to Overspend on Rent. Advance planning always offers you some kind of leverage. In this case, timing is everything. During summer, you’ll most likely stumble across more or less attractive move-in deals at every street corner. Families go on long vacations and college students fly back home. But this doesn’t necessarily mean that the best offers are being advertised during the hot season. If you’re interested in finding real bargains, start your rental hunt in September and decide to end it in December. This is the best time to start looking for an apartment because rates are usually lower that what you could expect to pay during summer.
Don’t Ask for Additional Amenities and Services That You Don’t Really Need. Do you really need that pool? Couldn’t you picture your life without an onsite recreational center? Luxury amenities and additional services, like laundry cleaning for example, will inevitably raise your rental rates. With the amount of money that you would have to spend on these dispensable extras you could rent an apartment in New York, go on a long, relaxing vacation or make the down payment for a new shiny car.