When looking for a no fee rental apartment anywhere in New York City–and even across the river in such northern New Jersey neighborhoods as Jersey City and Hoboken–we can’t stress enough how important it is to be ready to sign a lease on the spot. With inventory hitting record lows and people even offering more than the list price in order to secure a home, any rental apartment you fall in love with is likely to have plenty of other suitors as well. A big part of being ready to sign is having all of your paperwork on hand, but almost equally important is getting all of your research done before setting out to see a place. In other words: be ready to pounce, with no fear of renter’s remorse.
Deals Can be Found Apartment Hunting in NYC, by Looking Into Pockets of Popular Neighborhoods
Three recent posts addressed smart rental-apartment hunting in ways I hadn’t seen before, so I thought I’d pass along the wisdom here. The first was on Curbed, and it’s a somewhat geeky look at so-called rental “cold pockets”, areas often just a few square-blocks-big within hot neighborhoods in which residents’ median rents are hundreds of dollars less than what their neighbors pay. Some of the reasons for this are pretty obvious, but still, the savings can be considerable. For instance, Chelsea in the 30s isn’t as appealing as Chelsea in the 20s, but rents are also about $500 less per month. Click through here for more examples.
When Hunting for an Apartment in NYC, Adding to your Commute Time Can Result in Significant Savings
A second Curbed post quantified another common NYC rental apartment dynamic: the farther you go from the city’s heaviest concentrations of office space–Midtown, FiDi, Union Square/Flatiron, etc.–the less expensive your rent. But how much less? Is it worth heading another two or three stops deeper into Brooklyn, for example? Which neighborhood gives you the most value for the amount of commute time saved? The answer is Long Island City, but there are plenty of other contenders, too. And the amount you save by moving to New Jersey can be huge. To see more, click through here.
School Districts are a Major Reason Some People Hunt for an Apartment in a Specific Area
Finally, our friends at BrickUnderground take a long look at the increasingly complicated (and contentious) issue, getting your child into elementary school. Seriously, long gone are the days when your local PS-whatever was the only option. Now magnet schools, charter schools, “choice” schools, gifted and talented programs, are all part of the mix, not too mention the legion of private school possibilities. And even if that PS-whatever down the block is in fact your first choice, sometimes it’s so crowded there that your child can’t get in. If you’re raising kids in a NYC apartment, the whole BrickUnderground post is worth reading.