Making the decision to buy or rent a home is always a major deal wherever your locale. But this decision can seem even more mentally taxing when you live in a real estate hot spot like Miami or Los Angeles County. In New York, the decision is quite the daunting task. With the average rent hovering near $3500 and the average cost of buying nearing $1 million, there is no wonder why this is such a huge decision. If this is your current dilemma, we might be able to give you some factors to consider that will hopefully make your decision a little easier to make.
Your Finances
It helps to be really clear on what your financial landscape is. When considering condos NYC for sale, you will need to have an understanding of everything that home buying in New York entails. Although both renting and buying require money up front, buying requires significantly more money up front than renting. Typically a downpayment on a home is about 20% of the cost, closing costs are around 10% of the home’s cost, and the $500 or less appraisal fee is needed. This is considerably more than the average $4000 to $8000 it takes to secure a rental property. If you’re going to purchase your apartment, you’re going to need to factor in property taxes, mortgage, homeowner’s insurance and repairs and maintenance.
Your Future 5
Take a moment to consider where you see yourself in five years. Do you have plans on climbing a career ladder? Maybe you want to start a family. Perhaps you want to downsize and retire. Whatever your plans are, you will need to take them into consideration. Although buying a home builds equity and is a major investment, flipping a home in NYC isn’t guaranteed to be a substantial money grab. Keep in mind that there is a 10% transaction cost that comes with selling a home in New York. If you think you’ll want to move again, it will most likely be in your best interest to stay put for at least five years so that you can break even or better when you do decide to sell.
Renting vs. Buying
One of the greatest things about renting in New York City is flexibility. Leases are usually for a year, but they can also be less than that–even month-to-month leases are common. If you’re just getting established or trying out life in the city, renting is a great option. Although there are up front costs associated with renting, it’s still considerably less than that of buying and you don’t have to worry about maintenance and repair costs. The biggest advantage to buying is building equity. Other pluses to buying is not having to endure fluctuating rent prices and tax benefits.
Ultimately, the choice is yours. Only you know your financial landscape and only you have the blueprint for your future. Consider both your current circumstances and your goals for the foreseeable future. There are taxes, down payments and more to plan for when thinking about buying a home in New York City.
There are many things that draw people to visit New York from all over the world and one of these things that makes New York so special is its legendary sports teams. NYC sports teams are some of the best in the world and as such, they have fans across the globe who travel hundreds of miles to see them play at their home venues. Here is a guide to all the sports and teams that the Big Apple has to offer so you can plan your own trip accordingly.
Baseball
Baseball is one of the most popular sports in America and so you may be hard-pushed to get your hands on some New York Yankees tickets so check the schedule well in advance if you fancy seeing the infamous Yankees vs Mets rivalry firsthand.
New York Yankees: With 27 World Series titles, the Yankees are arguably the most successful team in professional sports. Even those who do not know about Baseball will likely have heard of their most famous players such as Lou Gehrig, Mickey Mantle, and Babe Ruth.
New York Mets: In stiff competition with the Yankees, we have the New York Mets. Based out of Queens, they have some of the most loyal fans in Baseball. Their fans all know the “Meet the Mets” song by heart and love to be greeted by the mascot, Mr. Met, when they enter at Citi Field.
Basketball
New York City is the perfect place for basketball fans and players alike, boasting innumerable courts across the city where many of the best players in basketball honed their skills.
New York Knicks: The world-famous Madison Square Garden is home to the New York Knicks, where tickets are incredibly difficult to get your hands on as they routinely sell out.
Brooklyn Nets: The less well-known of the two basketball teams is the Brooklyn Nets, based out of the Barclays Center in Brooklyn (where they moved to in 2012 after spending 35 seasons in New Jersey.)
Football
Football is almost as popular as baseball in New York and it also has an infamous rivalry between the two home teams. Unlike the other sports teams, both football teams are housed at the same Stadium – MetLife.
New York Giants: The Giants have won four Super Bowls and eight league championships so you can bet that their games always sell out quickly.
New York Jets: On the other side of the rivalry, we have the Jets. Despite having fewer titles than the Giants, their games also tend to sell out, with fans eager to see this team of rising stars play.
Hockey
New York is home to two different teams, both with extremely loyal and devoted fans.
New York Islanders: The Islanders have won four Stanley Cup championships and have five former players now hanging in the Hall of Fame.
New York Rangers: Another New York team that calls Madison Square Garden their home. The Rangers have a long history in hockey as one of the Original Six teams in the NHL.
Moving to New York City can be a great way to gain new opportunities for yourself and your entire family. Before purchasing a new home, you may want to consider the benefits and drawbacks of different areas. This can allow you to make more of an informed decision, not only regarding the type of home you choose, but also in knowing that you will love your chosen neighborhood.
Renting an apartment
Before you buy a new home, you may want to gain some experience living in the area. While visiting can be important either way, spending time in the city for a few days may not give you an honest, long-term view of what life could be like there. You may, therefore, want to think about looking intoBrooklyn apartments for rental so that you can spend weeks, or even months, getting used to an area. This may be especially useful if you have already sold or given notice on your existing home. Staying there before you buy can help you to get used to the vicinity of the home, and even find some creature comforts, such as local coffee shops or restaurants that you could see yourself visiting frequently once your living arrangements are finalized.
Things to do
You may also want to consider what you want to get out of New York City. Some people might move there due to the proximity of work or family, but that doesn’t mean you need to settle. It can be good to think about your passions when moving. For example, lovers of the arts might find themselves more at home living in Manhattan than anywhere else, due to itcontaining the Theater District. Being able to access all of your favorite Broadway shows without excessive travel required could help you to fall in love with your new home that much more. On the other hand, if you prefer relatively quiet living, busier districts may not be right for you.
Think about your family
Although you and your partner may need to work in New York City, there are a number of transport links that can make the commute easier. The same may not be appropriate for your children. Therefore, you may instead want to base your search on thedifferent schools available. This decision may not be one you want to make lightly, as the quality of school could affect your child’s grades and, therefore, their chances of attending a good college. Doing your research into what schools provide in the area you are thinking about moving to could help you to figure out the best place for your family.
Making the decision to move to New York City can provide your family with a fresh start. Each area may have alluring qualities but, ultimately, you may need to think about what your family requires to be happy and excel with their life goals for you to really be able to make that decision.
The city that never sleeps is slowly bouncing back from the disastrous effects of the Coronavirus pandemic. This has been apparent in the way NYC’s housing market is slowly coming back to its own, with record-breaking apartment rents and low availability of properties.
There is no doubt that the housing market in NYC is highly competitive in nature. Landlords are vying with one another for the best tenants and the highest rents. Renters on the other hand are looking for the best deals, prices, locations, and amenities.
In this environment, one term that has started emerging on listing advertisements and online platforms is something called -No Fee Apartments. In this article, we are going to look at the phenomenon of NYC no fee apartments and educate you on what they are all about.
If you or someone you know is looking to rent a new apartment in New York City, this article will help you with your process and selection. Please stick around till the end of the article and go through what we have to say.
No Fee Apartments in NYC: What does it mean?
We all know that brokerage charges can cause a significant drain on someone’s finances. The security deposit, advance, and the rent itself can add to a sizable amount. In New York City, the average broker charges range from 8% to 15% on a year’s lease amount.
Brokers that show you the various properties need to earn money to sustain themselves. They do this through brokerage charges and commissions. While the percentage might not be a lot, it can add up to nearly a month’s or two months of your rent.
In very simple words, a no fee NYC apartment is one where you as a tenant do not end up paying a broker’s fee. However, that does not mean that the broker does not get paid. The charges might be borne by the landlord that will be willing to pay from the advance and security deposit that the renter would be extending.
A no fee apartment looks like a good deal for tenants that want to save some extra cash. This money can then be used on furniture or some basic renovation/remodeling work in the new apartment to make it personalized to your liking.
Where can you find No-Fee Apartments in New York City?
According to real estate experts, two credible ways can help you find no fee apartments in NYC. Let us look at them-
Directly talking with the Building Owners/Landlords-
The first and most credible way you can use to find no-fee apartments in NYC is by directly getting in touch with the building owner or landlord. This will help you avoid some unscrupulous techniques that brokers use as bait for unsuspecting tenants. Communicating with the landlord will give you clarity on whether something like this exists or not in the real world.
Checking out Housing Listing Sites for No Fee Apartments-
The second way that you can find no fee apartments in NYC is through browsing listing sites. Some of the best ones have committed and dedicated filters for ‘No Fee’ on the platform. While this can help you get an initial idea, make sure that when you call and get in touch physically, you immediately ask about this aspect to prevent misunderstandings later on.
Important Points to Consider when looking for No Fee Apartments in NYC
Firstly, if the apartment is advertised as no fee, make sure that you are assessing why has it been done? In other words, make sure to check whether there are any issues or problems that are making the landlord use the no fee as bait to rent it out or not.
Secondly, do not get overwhelmed at no fee apartment and thinking you have saved on extra costs. Make sure that you are getting a good and fair deal and are not being overcharged on other utilities under the guide of no fee.
Thirdly, it is essential to watch out for unscrupulous brokers that might use the no-fee advertisement to simply get in touch with the customers. They might say that the property has been taken but they have others where a broker’s fee is involved.
The Final Word
While a No Fee Apartment in NYC sounds like a decent saving, make sure that you are doing your due diligence when it comes to locking such properties. You should always work with credible names like Hericoll to ensure that you are getting the best deals on no fee apartments in NYC.
If you are looking for an apartment in New York City, you need to figure out various aspects that can help get you a perfect apartment. We have listed all the factors that you should consider which will help find you something that fits the bill.
Start with hunting early.
While searching for an apartment in New York City, make sure to start your expedition early. This will save them from falling prey to wrong hands or agents. Do thorough research and start preparing early for this. You might think that any neighborhood would do, but you are mistaken; while on a search expedition, you will realize that not all neighborhoods are affordable, accessible or desirable.
Explore areas that are under your interest in advance.
Physically inspect the neighborhood you are interested in
When we decide to live somewhere, we need to feel comfortable and safe at all hours. It is important to investigate all the neighborhoods that are of your interest. An area might look safe during the day, but it may look less appealing at night. It would be best if you looked out for lighting provisions, especially at street corners and alleyways.
You should ensure that people who hang around at night are the kind of people that you want to avoid or not.
Avoid hunting for an apartment during summers.
If you can delay your search process, avoid hunting for an apartment during summers in New York City. The summer season can be chaotic as various college students are pouring in looking for economical staying options.
The preferred time to look for property is between September and December, which will give a chance to negotiate effectively.
Keep your budget in mind.
The cost of living can differ in different parts of New York City. That is why it is advisable to calculate your budget beforehand. Understanding your budget will give you an idea of planning the whole process of shortlisting an apartment. Before starting your search process, you can calculate the budget by estimating your salary, savings, moving costs, groceries, transportation, and other expenses.
Consider getting a roommate.
New York City can be expensive, especially if you are looking for renting or temporary home. You will find better apartments if you decide to split the rent by getting roommates. Many people choose roommates to cut down the cost.
Keep an open mind
TV shows like Friends, Broke Girls or Gossip Girl, set in New York, might give you an impression that apartments are luxurious and artistic lofts. This is not reality. You will find apartments in all kinds of sizes and basic amenities. While hunting for an apartment, keep an open mind about the space and facilities it will come with.
However, if you have certain amenities without which you won’t be able to choose the property, make a list of all those; this will help refine your search and get you the apartment of your desire.
Keep all your paperwork in order.
While searching for an apartment, make sure you have all your paperwork and down payments ready. This will help in shortlisting and finalizing the deal on time. There are chances that many other people might also be interested and offer to pay more; however, if you keep your papers and down payment ready, you will be able to act quickly. Some common paperwork required is a letter of your job offer, photocopy of your ID and salary slips.
So to avoid delaying the process, keep paperwork and financial documents ready.
Conclusion
While hunting for an apartment in New York might not be easy on the pocket, but that doesn’t mean you can find something on a budget. Make sure to research and work on the process beforehand.
Tell us about the journey that led you to launch your brand Mona Jewelry in New York…
My major at university was initially oil painting. During my golden years as a student, I discovered my acuity to art and aesthetics. The things I enjoyed doing the most were artisanal and detail oriented.
I was eager to explore my full creative visions and started learning traditional jewelry making techniques in France. After I graduated, one of the top jewelry studios in Paris offered me an internship. Then I made the decision to study at GIA and obtain the certificate. After years of gaining knowledge and experience in jewelry design, I launched my brand Mona Jewelry in New York.
What’s been the biggest challenge in business you’ve faced and how did you overcome it?
The most difficult challenge for me, as well as for other entrepreneurs, is the pandemic. The industry has been faced with problems of production lines shutting down and orders being lost during transit. Many retail stores we’ve worked closely with were forced to shut down too.
Our team has lost excellent partners, but it also left us plenty of time to think. We took the challenge and brought our fine-jewelry sales to our customers online. We were lucky to have survived the Covid-19 crisis with the raise of new sales online. I am very grateful to the partners who stayed with me for pulling through this difficult period of time.
If you were to describe your business mantra in three words, what would they be?
Constancy… Hardwork… Luck…
Constancy, means the quality of having a resolute mind, purpose, or affection. In the early stages of a new brand, it will encounter various unexpected problems. Only if the goal is clearly pictured in the mind, it will last.
Hardworking, is a very important part. It sounds easy but it need lots of effort. Working with energy and commitment make us perfect.
Luck, hardworking people are always lucky while holding on to the opportunity that brings you there, which is essential for running your own brand. And, always be prepared for the momentary opportunity.
What advice would you offer anyone interested in venturing into the world of bespoke jewelry design?
If you have a good idea, act on it right away because there is always a difference between what you expect to do and what you need to do. You never know exactly what will happen if you don’t try. I would suggest don’t spend too much time ruminating on how to get there.
It is critical to have a thorough understanding of oneself. Some of us have been fortunate enough to discover our strengths while also recognizing areas traditionally referred to as weaknesses, and we have always kept the passion for life. This, I believe, is the source of creation and the driving force behind the brand’s long-term development. Try a variety of art-related careers or emerging technologies, be totally and utterly passionate about your career, and be prepared to face a variety of challenges, because this will not be an easy journey.
Mona Jewelry
Where does your design inspiration come from?
All of my designs are inspired by nature and my personal experiences. Given my love of nature and life, I am eager to share the objects and emotions that move me with my audience through the jewelry I create.
You started out producing handmade pieces of jewelry do you still continue to hand make all your items?
Yes, I’ve always been obsessed with handicrafts and thoroughly enjoy the process. Each piece of handcrafted jewelry has its own distinct charm and texture. Handmade jewelry provides warmth and happiness, which is exactly what we are looking for. I am aware that modern jewelry is being enhanced by a plethora of new technical materials. We are not opposed to new technology or commercial production. The joy that hand-made jewelry brings us, on the other hand, is more meaningful.
What reaction do you usually get when people see your pieces of jewelry?
It gives me a sense of accomplishment, and I’m more confident about trying things I’ve never done before. When customers or friends order customized wedding rings from me, the feeling of making diamond rings to commemorate their life’s most memorable moments makes me feel honored. This is best moment for anyone who creates jewelry.
Business can be an upward struggle at times, what do you do to stay positive?
Sometimes, when facing difficulties, talking to experienced people who are more successful and experienced will lead to a breakthrough. Meanwhile, don’t stay in your comfort zone and keep innovating.
What is your go to quote when lacking motivation?
I wake up every morning and think to myself, ‘how far can I push this company in the next 24 hours
Leah Busque
Do you work better in a team or do you prefer to go it alone from a business perspective?
I enjoy both. I can work both in a team, and work alone. Depending on the project that needs to be done, I can work independently to complete my tasks on time, but I also enjoy brainstorming and collaborating with my colleagues.
How much has social media played a role in the success of your brand?
I would say less than 50%. Social media accounts for a large portion of a successful brand operation, which is likely to grow in importance. However, I believe that jewelry is an unique industry. People could only feel the texture after touching and seeing the rich colour of the pieces in person, that experience is unique and irreplaceable.
Mona Jewelry
Is there a specific country that would you like to see have Mona Jewelry store?
France, as I once spent two years studying there. Everything I know about jewelry design and traditional craftsmanship I learned there. Everything in France has had a profound impact on me. So, if I had to pick a place, it would undoubtedly be Paris. I’m hoping to return there with my accomplished business.
What’s next for your brand?
We’re hoping to reintegrate and expand our team, and I’d like to seek more buyer stores and bring a variety of our jewelry lines to more customers. This year, we’d like to focus on the opportunities in the European accessories market and more. A personal wish of mine is to participate in more offline philanthropy and brand exhibitions.
Where can people find out more about Mona Jewelry?
Our information is available on Monajewelry.online, and we share our creative process and keep in touch with our customers under our Instagram account @monajewelry.newyork
We also have two offline collection stores; one is in Macle Jewel, Lebanon, the other one is the Canvas, New York. Both of them are great designer collection stores that gather designers from all over the world.
