{ "media_type": "text", "post_content": "Has anyone in creative bought a house or apartment? I’m in NYC and trying to pull trigger but fear of job instability and layoffs is crippling me w indecision. \n\nApts ain’t cheap", "post_id": "5c528823f1510c001379379c", "reply_count": 7, "vote_count": 4, "bowl_id": "5565cfca8b2b9a03009acf57", "bowl_name": "Advertising" }

Has anyone in creative bought a house or apartment? I’m in NYC and trying to pull trigger but fear of job instability and layoffs is crippling me w indecision. Apts ain’t cheap

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It’s a big decision and move so it’s good to not take lightly. But rates are still low and it’s a good time to buy if you can. Make sure you aren’t strapping yourself too thin on $ to live on. Make sure you are buying something you can rent out, ideally for what it costs you, or more. Make sure you understand the closing costs scenario. Even if you do everything right you will still feel a bit queasy throughout the process. But buying property is one of the best NYC decisions I’ve made. Congrats!

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It’s def too expensive to rent out and I will be strapped. It’ll be 1400 more than I pay now which isn’t terrible but I pay too much now. Prob years away from renting it. Thanks for the advice :)

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Personally I have regretted buying in the past and don’t plan to in the future as this industry is too unstable. Saying that, I’m not in NYC with opportunities aplenty (theoretically). It might make more sense there than the smaller markets.

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@OP it’s really hard to buy. Most co-ops want you to have 2 years worth of mortgage and maintenance fees in liquid assets. And don’t get me started on the application process.

In a world of instability, owning your own apartment means at least one concern is checked off your list. Yes maintenance and taxes will go up, but you’ll never have to deal with a landlord jacking the rent or selling your building. And if things go south for you in a few years and you need the cash, you can sell your apartment and odds are you’ll make a profit .

NYC is a crappy buy rn in my opinion: too hot for too long.

If you’re into property, buy an investment property somewhere and rent it out.

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