Have $100k in a HYSA. Relocating to NYC where rent is expensive. Do I buy condo (looks like I have 10-15% down payment already ) or rent for similar or higher monthly mortgage payments? Passed the stage of being ok with roommates. Looking for perspectives. TIA!

like
Posting as :
works at
You are currently posting as works at

I hear what you’re saying… but having a roommate is so profitable

like

Appreciate the note. For me, maximizing the likelihood of a drama-free home situation is worth more than the pure $ for $ impact of splitting rent costs. It’s one of my few non-negotiables :)
Although, if I could afford a brownstone in Brooklyn, I’d totally set up a floor for rental!

like

I know it’s tempting to say rent is expensive but I’d think about what’s your end game. Do you expect to be in NYC forever ? Do you want to be a landlord if you’re leaving after 5 years or sell the place?

I’ve seen some ridiculous condo fees which have led me to think living in LIC or parts of BK would be the best bang for your buck.

Also, while rent is expensive if not staying in NYC forever. I’d suggest considering rent stabilized units. They can range from 2200-5k depending on rooms which potentially could be cheaper than a mortgage. Go on Zillow to see some examples

like

Thanks. Have you rented or lived in rent stabilized units before? What’s the deal behind the deal with renting them? My experience with visiting rent stabilized units circa 2010 was not great but happy to revisit with a new outlook!

Check HOA fees. NYC is notorious on that front. If HOA + mortgage works for you, buy.

like

Thanks - will factor that in!

Where in NYC are you thinking of moving? You'll need more than 100K for a down payment and closing costs if you want more than a studio in a desirable neighborhood. I would rent.

like

Helpful. Google says to expect between 1.5% and 5% of the purchase price.

like

Don’t forget to factor in property taxes. Those plus hoa and maintenance can easily be as much as renting, in which case the significantly lower appreciation rate on condos compared to regular housing might not be worth it

like

Related Posts

Should I be reducing my contribution to my 401k at the moment? Based on the drastic 🐻 market?

likehelpful

Best cashback credit cards in the UAE?

like

Thoughts on staking crypto? What’s the safest way.

like

Guys, I did my part of losing money. Tell me how I can get out of a 40k debt with this meme coins.. where’s the next pump for a $500?

likefunnyhelpful

Recommendations for a good auto lender in NJ area? Looking to buy/lease a car

like

Hi guys 👋🏻
This is regarding the interest amount of our EPF.

For you guys,is the interest details showing any amount in the EPFO member passbook? Or is it showing '0' like me(As seen in the photo below)?

Is the government yet to credit the interest amounts of our PF balances? Or is something wrong with my PF account only?

Any inputs will be really appreciated 🙂

Post Photo
like

I’ve decided I cannot afford rent in lower Manhattan anymore. Been here for 6 years and make more each year but this is just crazy now. My 2 bed 1 bath went from 5200 to 6800. Bruh that’s just insane

like

Fellow Bytedancers, will you be keeping your cash bonus or convert to RSU?

like

I crawled and clawed from 14k to 700k a year over 25 years. Learn from my mistakes. Who wants to learn how to make more money? Let’s beat this fucking game:)

likeuplifting

Well, its a good thing I sold ARKF when it was $55 last year

like

Just received a large lump sum of money due to a death in the family. Would like to invest for a year to get the most growth and then use this as a potential down payment on a home. Any suggestions?

like

I want to know which tax slab can be appropriate for a 10lpa and what are the way I can manage to reduce my tax computation.
I have been to this tax slab for the first time don't have. any knowledge.
can one of you assist what can be done or what are the steps for saving the tax or us it possible to have 0 tax.
FYI,
2.2lck is hra

like

Best robo advisors and why?

What's a good balance between types of investments for an average risk person (e.g. % real estate, % stocks/market, %government bonds, etc)?

like

What do you check for when you go to view your properties in advance?

like

PPEDs: Just found out that a Partner, who was promoted in 2017, was fired. IDK the circumstances. What can they expect to walk away with besides 401k & normal pension plan?

like

Building out private investment platform for a growing company. Where can I find example docs of allocation policies, expense policies, etc. in order to create my own? Are there any good resources?

like

Does anyone carry a driving iron? If so how do you find it?

Thinking of dropping the $ to buy a Titleist U500 2-iron... 10 handicap and wondering if I'll be able to actually hit it solid. I see my scratch/plus handicap friends hitting bullets with theirs

like

Want to trade in my 2014 X3 for a Porsche Macan S, lease or purchase? What’s the maintanence costs of Macan looks like?

like

Hello folks,

How does everyone save tax
I'm aware about 80C, nps and home loan interest.

Anything else?

like

More Posts

After panel interview how long does it usually take for the recruiter to contact with an offer?

like

Let's compete! What's the craziest fake news you've heard so far and how many relatives of yours believed it?

like

What are some good personal finance books?

like

Learning cloud architecture right now so apologies if these are obvious questions: Best ways to store video metadata to perform analysis on it? I'm looking at AWS and GCP. Saw that Cassandra would be good for it, but not sure what the GCP equivalent is? But also I'm a bit confused on if Cassandra is just a DB and storage would need to be elsewhere? All help is welcome! I've been spinning my wheels on Google trying to understand

like

McKinsey & Company Hi!
Can anyone can give a referral for McKinsey & Company I have the job opening and am looking for a referral for the same. Any help will be appreciated! Thanks! :)

I have an offer in Samsung, i am currently in Intel. I need to take my decision fast as intel is laying off people.

likefunny

Any recommendations on where to invest 10k? I have about 15k in stocks but I don’t think I’ve done a great job picking stocks. Also for people making 150k+ how do you budget your money monthly?

like

I have an offer for Consultant Specialist GCB5. Not sure what the role is..is it a team lead role or is it a junior role? I have 10 yoe .. is it apt? Pls help Thanks

Anyone know the base or starting salary for someone in compliance department at Grant Thornton in the Charlotte office?

Are there any other 2021 grads who feel super let down about their MBA experience due to the global panini? I ended up taking a safety job in consulting because of it and I’m miserable. I have asthma and couldn’t take the risk to build my network in-person when things were peak awful, but now I feel like I missed out on something critical

Looking for a referral to Deloitte- please PM!

like

Very surprise to see HCL is paying alot to laterals now compared to many other big MNC's?
Which is better to join HCL(client -ING) or OPTUM for a woman associate with 11 YOE looking for a work life balance and job security?

like

Hi All

I am having 2.7 years of experience and looking for a functional testing role
Can someone please refer me in Oracle??

Tools: Siebel CRM, Jira, Bugzilla, HP- ALM
Skills : System Testing, Regression Testing, Brm testing

Please help

like

As we are not frequenting to office and clientsites, anyone plan to return their leased car to save money?

like

Yo where tf can I find investors interested in cannabis tech? We're a genetics startups doing 25k MR, growing 20% MoM

What's the most exciting project you have done as Data analyst/Analytics professional?

I am an entry level Data Analyst trying to find motivation for this career. Like what are some big or fun projects that I should aspire to

like

Is this true ?

Post Photo
likehelpful

Anyone hiring on their team? I have been proactive with improvement projects at my hospital, I’m a super user and subject matter expert. I’m looking to do this full time especially now that I have my MSN Informatics. Any advice or referral would be appreciated! Thank you!

like

Does any company hire a 90 days notice period person?

Looking at high availability of developers with less than 30 days NP.

Tech stack: Java sring boot, Angular

likehelpful

Are there actually tax cuts switching from home office in NYC to Hoboken?

like

Additional Posts in Consulting

Is Deloitte WLB for a S. Consultant really that bad? Got a great offer from them, but everyone I’ve talked to has nothing good to say about the firm or their work culture

like

Are management consultants as useful to society as farmers, doctors and soldiers?

funnylike

Any Bain folk willing to connect?

Bain & Company

like

Are there any good resources for best practices on managing a remote workforce?

I just moved to industry and I am looking to expand mybteam and allow the roles to be fully remote, but I want to be as prepared as possible.

like

Houston downtown JW vs Westin.. Thoughts?

like

Does anyone else think that PwC allowing all US employees to work from home indefinitely is BS?

likefunny

Finally getting a chance to put together a home office space. Looking for tips, photos, ideas. I have two monitors and a laptop so my do a three screen set-up. Debating about getting a standing desk or putting money in a super comfy leather chair. Open to hearing what you have done!

like

A while ago there was ppt by a harvard grad going around outlining personal finance tips and tricks (banks, cards, points, etc) - was super helpful!

Does anyone have a link or copy to share? I don't know what I did with it

like

Deloitte folks - what's with the new structure? Is the monitor team pulling folks from S&O for staffing?

like

Umm, right?

On a call with someone who can't stop saying: “um” and “right?” so I started keeping count;

In two minutes:
9 “umm” and
5 “Right?”

unbelievable.

likefunny

Just found out that Toyota will only be paying full-time production and skilled workers for four days each week. Fifth day pay will have to come out of our paid time off.

like

Best books on leadership and sales skills?

like

I heard Slalom restructured titles and many people got the short end of the stick. Is this true?

likesmart

New to consulting. Do you try to get staffed on projects based on location? Is this a thing?

like

Any book recommendations for the summer vacation season? What's your favorite book over the last year?

like

What do you think is the best to do in your Twenty to build a great carreer for the future?
(ERP consultant)

like

What are the best consulting companies in the US focused on Sustainability, either Strategy or Ops?

likefunny

Do you deduct your internet as an home office expense on your tax returns? Any other common consulting deductions I should be looking at ?

like

Who’s running diligence for this TikTok deal?

like

To those in non-MBB: Would you rather have an offer in hand right now for MBB or FAANG pm? Assume it’s a lateral transition.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal