planning to buy in New York city area (nurse salary)

  1. 0
    Hi all!

    I'm planning to buy perhaps a 1 bedroom in the nyc area but don't know where! I'm really not too sure what neighborhood is safe/ on the cheaper side... anybody got suggestions?
    I've been on craigslist but some look really old, and some look good but are in unsafe neighborhoods...

    Thanks!
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  3. 16 Comments so far...

  4. 0
    Do you have a job already? Are you in school, or planning on going to school in NY? Are you a fan of public transportation or are you planning on driving everywhere? All o this should be taken into consideration when looking? There are plenty of commutable neighborhoods in NYC, but not all are in 'the city', and these are much more affordable.

    Also, be prepared for postage-stamp sized apartments!
  5. 0
    Thank you for your reply!!! I'd prefer taking public trans and yes I have a job ("nurse salary")... However, do you know of these safe neighborhoods not in manhattan??
  6. 0
    If you are new to the area, I'd recommend you just rent a place for a year and take your time to get familiar with the city. There are so many variables (how close to work, do you have kids, will you have a car, will you work days or nights, would you rather have more space or a nicer neighborhood, etc) that will affect your decision making! I've only ever lived in Manhattan so I can only talk about the boroughs from very limited experience. But I can't imagine buying a place on my salary.
  7. 0
    i see i see... im going to be living by myself and going to most likely rent now..,

    what parts of manhattan were good for you???
  8. 0
    The most "fun" neighborhoods are also some of the more expensive...East/West Village, Meatpacking District, Murray Hill. There are a few hospitals in the Murray Hill area so that could be a good option. The Upper West Side tends to be more young families and more of a quiet neighborhood and the Upper East Side is similar, but also tends to be a bit more affordable and has more young singles. Several more hospitals are in the Upper East Side.
  9. 0
    Based on the average base RN wage for NYC there is little to nil you will find *affordable* in Manhattan unless you go up to Harlem and Washington Heights, and even then it might not work.

    Thing to remember is NY is a very high tax state. So even if you make $80K on paper that amount is reduced at once by about 34% due to federal, state and local taxes to about $52K.

    Due to new laws and rules put in place recently along with banks trying to cover themselves obtaining a mortgage can be an ordeal. You will need at least 15% to 20% down for a decent rate and in some cases to get certain banks to look at you at all.

    You might find a small (and we do mean just that) studio in certain parts of Manhattan for about $250k or so, but more likely than not it will have something "wrong". Things like facing the back or a wall, badly in need of renovation/updating, in a not so wonderful building and so forth.
    Manhattan Rental Market Report | MNS is Real Impact Real Estate
    Manhattan Apartment Prices Climb as Home Inventory Drops - Bloomberg
  10. 0
    Jobs in NYC pay well compared to the rest of the country, but not enough on that salary alone to buy anything in Manhattan or probably even Brooklyn in a decent neighborhood. A studio in Manhattan is probably at least a half a million dollars. I would take a travel job first and see what you think of NYC first, many from out of state don't handle the high paced, high acuity environment well.
  11. 0
    Trust me guys and girls, I am here to stay! But renting is most likely going to be the option here. Just still trying to figure out where best to go... I'm also trying to look into Brooklyn and Queens near a subway line...

    Thanks for the comments!
  12. 0
    I did some travel jobs in NY 4 years ago and lived in Astoria. NW train. Traveled at all hours. Broadway stop very safe. So many people. Also 30th av. Be good if you could find something temporary while you look around. I stayed in Craig's list sublets but you have to have someone see the apt and get the keys for you--too many scams.


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