Is it smart to buy a studio in Manhattan or save a bit more and buy a one bedroom?

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

Save more and buy a one bedroom. The potential buyer universe is substantially bigger for a one bedroom than a studio

likehelpful

One hand: If you have a target neighborhood and can't get into the 1 BR, go for the studio. You will at least get the interest deduction + additional taxes for itemized deduction and you'll be building equity

Other hand: there is a larger market for selling 1 BRs plus well, it's more space generally

Regardless: don't buy if you're not planning to hold for 5 years and use as primary residence (unless the building has extremely generous sublet policies).

Save even more and buy a 2

1BR

Related Posts

Are you buying ETFs or are you putting your money in a HYSA?

like

Anybody here a FTB in London, UK?
If so what kind of mortgage rates are you expecting?

Any suggestions for a great state to own a rental property in? NYC is very difficult, the courts do not favor the landlord and having the wrong tenant can cause you to lose your house. Does anyone have experience as a landlord in a state that has fairly easy eviction rules/ laws.

like

TC New grad Software Engineer
Base: $110k
Sign-On: $35k
RSU: $120k/3years
Relocation: $20k

Starting fresh with virtually $0 savings and $0 worth of financial literacy, whats the best course of action? any advice is greatly appreciated!

like

Looking for an affordable country to travel to that has good all inclusive properties. Preferably under 5 hours from Chicago. Will be having a small family reunion on a budget. Recommendations?

Am I the only one frustrated w what’s going on w the state and what’s been taken away. It’s as if I’m taking home less than I did 5 years ago and on paper I’m technically making more. It’s sad.

like

I've been in finance for 4 years. Can someone please explain to me in simple terms what goodwill is?

I know it's AN intangible asset, but it's not the same as the intangible asset balance sheet line item

So dictionary definition is its the purchase price paid in excess of the assets - liabilities

Does goodwill simply mean the buyer overpaid?

like

What are some of the risks/drawbacks (obv all forecasted) of brokerages that use payment in order flow as a source of revenue? Thinking of Robinhood, chamath’s sofi, etc.

like

Anyone has a private tax advisor they can recommend? TIA!

like

Which bank account is better for salary account?
HDFC
Axis

like

Anyone here looking to buy in the Park Slope area in Brooklyn? Townhouses have been selling for over asking with multiple offers. Seems hopeless for those who don’t have millions just sitting in the bank. Wondering if this is a bubble or if it’s just the new normal.

like

Is equinox worth it for the price? I’m 27 y/o making $75k a year but also have no debt, a healthy amount saved/invested, and paying $1450 in rent. I’m pretty into fitness and would probably go 4 days a week but want to make sure it’s justifiable as I’m not necessarily a high earner. TIA

like

So I’m newly graduated, 23. Have 10k in student debt. 50k or so in checking. What should I be doing with my money? Pay it all off? Or is that too risky when federal loans aren’t accruing at the moment. I only invest 5% in my 401k should I be doing more?

like

I have a rental property, around Atlanta, that’s valued at 300k and I owe 150k with 4.875%. Would it be better to do a cash-out refinance or a HELOC?

like

I’m living off $47k post-deductions (401k, etc, but not taxes) in a T2 city. What are some good money saving tips and tricks for relatively low income consultants in their early 20s?

like

What are everyone's thoughts on making the Monthly Child Tax Credit permanent? I think it is an important step to care for the families in our area, but I know not everyone believes in this program

likeuplifting

Trying to figure out which is better (long term) to do between the following options
1.) Max out Traditional 401k + do backdoor Roth versus 2.) Contributing to and maxing out Roth 401k (if employer plan allows)… not sure if from a tax and long term growth perspective, one of these options makes more sense to do (or is there another option to consider for maximizing retirement contributions ?)

like

How'd all the trading crew fair today? 👀

like

I am graduating from University and I have no tuition debt with savings of 18k. I am moving to a HCOL area where 1bed starts at 2.5k. My TC will be 80k. What is a reasonable amount to spend on rent?

like

Hi y’all! I’m a financial educator and my job is to help families in need of financial education! I help anyone on learning how money works here in the US & how to get rid of debt! I offer financial products that help you protect and grow your money. I’d love to help you out in reaching your personal financial needs!
I’m also always looking for people to hire!

like

More Posts

Coordinating a health and wellness fair for my organization does anyone have exhibitor recommendations they can share for Los Angeles area?

like

Hi Anyone here knows what is the CTC Deloitte India is offering to its Audit Manager/Experiences Deputy Manager..

like

Does anybody ride a moped? What kind and what are your thoughts? Barely ever drive and think an electric moped could suffice and be fun!

like

Hi fishes,
I got offer 22 CTC + 3 jb on t2 l1 with DevOps profile and having 3.8 yoe, is it good or can I counter that offer before joining
Location will be banglore.

like

PA lawyers, I am thinking of trying to break into closings and broker work. Is there a decent demand for that kind of work in PA or can real estate agents do most of it without a lawyer? Thank you for your comments.

like

I just spoke with a software architect that went back to school to learn software engineering after law school because it was more lucrative and had less hours. He’s worked his way up and has the skills and authority to work 6:30am-10am and gets to work remotely. We discussed that results/outputs is better than billable time like in law and public accounting. Yet, his parents and others would view him as “lazy” but he does his job and makes a fantastic living. Time>Money and Results>Hours

likefunnysmart

Has anyone ever slept in their home office/ their firm's office in another city? (for the entire night not just 10 minutes)

like

Hi everyone! I’m looking to pivot into a Customer Success and have 10+ years of retail experience and 5+ years in management. I’m currently living in San Diego but will be moving to Boston end of July 2022. Can provide any tips, insight, or resources?

like

Let’s talk about the taboo topic of speaking with your coworkers in regards to pay. Do you do it? Is there any laws requiring you not to? I know pay/salary can be a touchy subject but how else will you know that you aren’t getting cheated?

like

Anyone working at FTI/Ankura/Berkeley Research Group have insight into how much different levels (specifically, Senior Associate and Directors) get paid in the construction disputes/forensics team?

like

Hi all, can you please tell me which of the leaves will carry over to the next year?

like

Hello,
Please give 11 likes.

Thank you.

like

When will Zillow add a comments section to its listings? Would save me so much hassle.

likesmart

What is it about clients that obligates them to go on vacation as we’re preparing to close on a deal (or they decide to leave the country the morning of closing)? Is it something in the water?

likefunny

What is your favorite ELA unit in your class?

Question any other educators out there suffer from isolation even with other educators of color......difficulty connecting.

like

What does it mean your candidature is on hold? I received an email from HR a week back for submitting documents post clearing the interviews.

like

Are there chances to be on bench for 2-3 months in TCS even if we join at 25+ package?

like

I’m surprised by how difficult it’s been to try to jump from heavy senior to manager in industry (currently b4 audit). Looking for cycle accounting, regular back office stuff. Is this due to the pandemic? I’m curious about other’s experience before and now. I’m not discounting it could be my personal experience for whatever reason.

like

Additional Posts in New York City

Hi NYC female fish! Room available in our apt for 12-month sublet beginning 8/1. Midtown east (57/3) in doorman elevator laundry building, $1350 monthly rent. PM me if interested!

like
like

Hey everyone! I’m looking for 2 roommates to start apartment hunting with for a late October move in (might be flexible on LATER dates if I find really cool people!). I’m mainly looking at 3 bedroom units in a luxury building that has a gym for around 3500. Flexible on location too as long as it fits the criteria above but I see some nice ones in Brooklyn and some in lower Manhattan. About me, I’m 28, male, East Asian and a really laid back, open minded person originally from Hawaii, hmu!

like

Anyone in any book clubs? In my early 20s moving to the city and would love to join one :)

like

What classes/activities/hobbies are you all doing in the city?

like

Anyone fly into nyc recently? I heard you need a negative covid test within three days??

like

Considering a job offer in nyc coming from the south. Making about 400k here and we live very well but won’t lie - life’s quite boring here. Have an offer in nyc (my fave) for 500k. SO will probably stay around his 200k comp. 300k of my 500k is guaranteed - the rest is bonus which I am 50/50 on depending on how the company does. We’re 30s and thinking of starting a family. Don’t want to deal with commute so thinking Manhattan. Worried about nyc COL. Should I take it? We have about 1M saved fwiw

likefunny

NYC 🐠

Looking for a new roommate in a renovated NoLiTa / SoHo loft as of January.
Apartment is a furnished and very large (1,600 square feet) 2 beds 2 baths. A lot of the furniture is high-end (e.g., RH). Fully equipped kitchen and washer/dryer in unit.
The neighborhood is amazing, with tons of boutiques, restaurants and super well connected. The street is calm and quiet at night.
Lease can be flexible in duration (can even do month to month if helpful).
Link in comments.
Feel free to DM!

like

Rent just got increased from 4300 to 5800 for a 1 bed in Williamsburg. Landlord is crazy.

like

Any recommendations for good tailors in Manhattan or Brooklyn? Preferably someone affordable.

like

Interviewing with a co-op board to rent an apartment in their building. Any questions I should be ready to answer beyond work/reasons for moving/living habits?

like

Is this a good estimate for a co-op (studio)?

These are the default numbers when I open the calculator in StreetEasy. How do we know what rate to use for future examples?

First timer. Thx!

Post Photo
like

Moving to NY soon so I’ll likely be getting the vaccine there when it’s available to me. I wasn’t planning on getting an NY drivers license though (doesn’t seem like it makes sense if I might move to a new apartment next year), will I be able to get it with an out of state license?

like

For people that hire cleaners to clean their apartments, how often do you get your apartment cleaned, where do you live and how much do pay plus tip?

like

Can you support a family of 4 (2 elderly parents + teenager) off an income of 70k in Brooklyn

like

Question: Has anyone had any luck selling or buying a house/apt through an off-market direct sale? Considering this approach to sell my NJ house but unsure of the success rates.

like