How much should you spend on an apartment?
How much should you spend on an apartment?
One popular rule of thumb is the 30% rule, which says to spend around 30% of your gross income on rent. So if you earn $2,800 per month before taxes, you should spend about $840 per month on rent.
Should I use an apartment broker?
Here are some of the best reasons you might want to hire an apartment broker for your next home search. Time savings: Your time is valuable, and an apartment broker can save you hours of looking through rental listings, narrowing down your search, calling property managers to schedule showings, and more.
Is it worth paying a broker’s fee?
If you’ve got a good poker face or you’re not known to back down from a challenge, you might be able compromise or stop the discussion before the broker collects commission. Bottom line: While it may seem backward, paying a broker’s fee can save you money and lots of stress (and probably tears).
What is a broker apartment?
A broker is basically the middleman between a renter and a landlord (or management company—whoever owns the property). Essentially, their goal is to try to fill up spaces for the landlord and connect them with tenants. Some brokers come with a fee, while others are no-fee.
Do you need a broker to find an apartment in NYC?
They act as a middleman between renters and landlords. Brokers are not essential for rental buildings that have in-house leasing offices. But they can be invaluable if you want to cast a wide net with someone who intimately knows a particular area.
How can I get an apartment with no job in NYC?
You might be able to get an apartment without a job, if you can pull off any one of the following:
- Have a guarantor co-sign on the lease.
- Have a big pile of money in the bank.
- Find a sublet for a couple of months and scramble like hell to get a job.
- Get hired as the super of a building.
Do Realtors help find apartments?
An increasing number of real estate agents are assisting renters with finding their dream apartments, condos, and rental homes. However, it is necessary to look for a rental real estate agent specializing in that market because many others still focus on buyers and sellers.
How can I buy an apartment in NYC without a broker?
What Are Next Steps for Buying a Coop in NYC Without a Broker?
- Step 1: Search online.
- Step 2: Attend open houses and private showings.
- Step 3: Get pre-approved for a bank loan.
- Step 4: Submit an offer.
- Step 5: Negotiate.
- Step 6: Offer Accepted.
- Step 7: Deal Sheet.
- Step 8: Contract Out.
Should I buy a house in NYC?
New York City housing prices are among the highest in the country, but values have appreciated over time. So, if you plan to keep a property for a few years, buying can be a good investment— as long as you have enough cash for a down payment and to cover ongoing maintenance costs.
Can I buy a house by myself if Im married?
In a common-law state, you can apply for a mortgage without your spouse. Your lender won’t be able to consider your spouse’s financial circumstances or credit while determining your eligibility. If you and your partner were to split up, the home would be yours alone; you wouldn’t have to split it with your spouse.
