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I am leaving JP Morgan next month and have resigned before completing of my 1 year with the firm but technically my year will be completed next month before notice period. The laptop allowance and the relocation allowances will it be recovered from me during my exit??
Please let me know if anyone is aware of this scenario.. Leaving JP Morgan is completely personal JPMorgan Chase
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Public high schools in NYC aren’t particularly great outside of some of the specialized schools (Stuyvesant, Bronx Science, LaGuardia, maybe a few others) which require a special test or talent audition to get into.
B1 is right. PS for HS is NG in NYC. Private schools are strong but obviously very expensive. great public schools in the burbs - but it ain’t the city by a long shot. Better to wait until you’re empty nesters and make the move then.
Include private school costs in your numbers if you want to move to nyc!
If y’all are planning to come up here then I would plan a few family vacations in the area or tack on some extra PTO when you’re here to gather intel. Take the time to work your way around the area and really get a sense for whether it’s worth it. The city is overrun with condos that are basically investment shells for foreign wealth. That means that there are a ton of empty units that no one really lives in. Give it a few years and you might actually see prices come down - but it will always be one of the most expensive places on the planet to live.
There are plenty of exurb areas that are pretty dense by comparison to anything in the south though and you might find your sweet spot in something just over the border. You’ll also find that market inventory varies quite widely once you’re out of “the city”. Plenty of folks move to nearby cities and love it. Philly has a good reputation for decent schools, smaller city, but with a good vibe. Jersey City Heights, too, is popular - but schools can be middling. Plenty of people also moving north of the city too.
Something else to keep in mind if you do decide to go buy instead of rent. Property values and movement is strange because of density and relative popularity. In some areas you find that nothing stays on the market longer than a month and people pay cash. Other places seem great with big houses and property but resale takes forever and taxes are high. Best to keep an eye on market trends and do your research before making any commitment.
Good luck OP hope you find something you love. I’m a lifelong Northeasterner (Long Island and NYC mainly). DM me if anyone wants to network a bit and talk about the good, bad, and ugly.
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The numbers to work. Is this a crazy idea? Our two older daughters are both in schools in the north east so we would be closer to them(we live in Texas). Plan would be to rent a 2 or 3 bed for 4years or so. And try for a good public high school. I have no idea how public schools work in nyc. Or where we would live. Or if my youngest would have a tough time adjusting (she loves the idea in concept of course). Any thoughts?
2 or 3 BR in NYC is going to be steep. Steep steep. Would suggest buying (but are you *really* a wanting to live in NY?) and including the $150k to get your youngest thru private HS in your model. You could also do public HS if you live on LI, Westchester, or NJ while you figure out the Manhattan/Brooklyn RE market for long-term. I’m 15 years behind you kid age-wise but am in similar boat coming from south and perhaps needing to move to NY area for work purposes but grew up there so know what we are getting into. Good luck!
Most city’s urban areas where you might live in a cool condo are going to feed to lousy schools, New York or anywhere else. It’s why most parents are forced to abandon the idea eventually and move out a bit or to a suburb...or face difficult transportation requirements to get the kid(s) to a charter school/private school. And, in that case, then none of their friends will live in your condo tower or nearby anyway. And add sports / extra curricular stuff and it’s a transportation nightmare. I agree empty nester is better time. Also an easier time to get rid of all that stuff you’ve accumulated and don’t need—harder when they are still in the house. I am selling my investment condo in the hippest neighborhood of my trendy west coast city and asked my realtor who my buyers are going to be for marketing purposes—she said young single professionals, people who travel a lot for work without kids, and empty nesters. New York is unique and YMMV. We tried to find a middle ground—we still live in the city 15 min from downtown and all the urban stuff, but in a pocket of (expensive) SF homes with great schools. No suburbs for us and close to all with the family benefits of suburbany type life. Is there is cooler hipper part of Austin/Dallas/Houston you might consider as an alternative where you can walk to cool stuff?
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What neighborhood of sf is this?
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Thanks for the responses all. Yeah the point is to have a cool experience with the 3 of us for 4 years. Nyc is not critical, but we do want to be in a city, in a building, and with great public schools. Is there any city where this is possible? Boston? Miami? Chicago? Philly? Dc?