With utilities, broker fees, moving costs, furnishing costs, and security deposits, moving into a new apartment costs much more than just the monthly rent. In order to help answer the question of how much to budget for the average utility bill, we asked New York City renters to tell us what they are currently paying.
What Makes a Great Real Estate Broker?
If you were to describe your ideal broker or agent, one that you would refer to your friends, you’d probably use words like: helpful, professional, experienced, honest, understanding, nice, and even perfect.
We analyzed 50,000 words from our top-rated agent reviews to uncover the most commonly used words and phrases, and here they are, in all their word-cloud-glory. (The bigger the word, the more prevalent it was.)
How does a site or app best convey the look, sounds and vibe of a NYC neighborhood? Vidaao, in partnership with Bond New York, is testing video as one method and we’re including two of their videos on our neighborhood pages. Take a look and let us know what you think.
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The pressure of the situation made the room feel more like it was used for interrogations than conferences. The three of us were hungry, exhausted, and had just been told that we had 30 minutes to hand over several thousand dollars in exchange for an apartment that we weren’t even sure we wanted. Why were we still there?
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The most difficult part of New York City apartment hunting is getting started. I drifted towards anything that seemed like it would take steps out of my search because how was I supposed to know what I don’t know about? “No-fee” sounds like heaven with a hyphen. [Read more →]
Well, it’s almost junior year and that means that I will officially have the least preference in NYU’s housing placement (sophomores receive the highest, then seniors). It also means that if I stay in “on-campus” housing, I am likely to end up a significant distance away from campus while still paying exorbitant amounts. Lafayette Hall (which holds the title for most inconvenient commute) works out to be a little over $2,000 a month and that’s for a “shared bedroom.” Sadly, this crippling figure is the accepted norm for junior residence hall prices even if you are lucky enough to dodge the Lafayette bullet and get into Carlyle, Coral, Greenwich Hotel, Gramercy, Palladium, or U-Hall.
But I don’t want half a room for $2,000 a month. I want a quality space to myself– a place that I feel a connection to; a place where I may hang my hat without my coat rack being indicted as a fire hazard; a place that I have thought deeply about and am proud to show to friends and family.
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Curious how median rents and sale prices have changed over time?
Here’s one simple chart, based on one of the leading data sources, that shows the trend over time for median sales prices and median rent prices in Manhattan. For buyers, the median price continues to gradually decrease, but for renters, the trend is not your friend. Rents are high and increasing quickly, although they’re still not quite where they were before “The Great Recession.” Thanks to Miller, Samuel Inc. for the data.
And for you data buffs that want to explore the relative changes between sales and rentals, here’s another way of looking at the data with different scaled y-axis.