So it’s best that I get this down now – before, like childbirth, I forget the trauma of the move to New York and can only think of the good results. Not to trivialize childbirth as it’s not a process I’ve encountered yet, but I imagine there are some similarities. For example it’s painful, expensive and you have to think about your medical plan.
In all seriousness, I just want to help others moving to the Big Apple with straight talk. None of the ‘but it’s New York who cares’ bullshit. Yes, this is a very rad city and there are shiny things everywhere but the reality is it is hard to set up a life here.
I have the luxury of being a dual US Citizen so I didn’t have the drama of sorting out a visa. I also had the other luxury of being transferred with work and getting a ‘relocation package’. I put ‘relocation package’ in parenthesis because I really had no idea how much it would cost or that my ‘relocation package’ would be equivalent to 3 or 4 trips to WholeFoods (dependent on salad weight).
This blog is intended to tell you 1. How much moolah you need to move over and 2. How to rent a place 3. How I fucked up so you don’t have to!
Let’s start with the last bit. I moved to NYC, went to work full-time the following day, rented an Airbnb for 3 weeks and thought at the end of that we (my partner and I) would be able to find a place to rent. This is absolutely putting yourself in an impossible situation. If you are working full time you’re going to find this hard and if you don’t have credit history – it’s harder. It’s not as straightforward as just paying a large deposit.
I also had the benefit (which at the same time was a curse) of my partner not working to do the searching. This is a double edged sword because even though he had the time to search, he didn’t have a job, meaning that a landlord isn’t going to rent him a place.
This is how you should approach moving over to NYC in my view (with my 4 top tips!):
1. Accept that you are going to have to rent an Airbnb for 3+ months (if you don’t have friends that you can stay with). Airbnb’s (whole place to yourself) is around USD $1000.00 a week, so this could cost you up to $12K (high end budget). You could cut this in half getting a private room etc.
An alternative to renting an Airbnb (and possibly cheaper) is to go on a Facebook Group like Australians in New York, Gypsy Housing and sub-let a place for a few months (there are also websites like LeaseBreak and Street Easy). You do this to buy yourself some time to build up a credit history and check out areas in NY that you want to live. Essentially you need to have time to be able to get a credit card and prove that you can pay your bills on time.
It’s not that easy to sublet an entire place for the time you want.
2. Get a credit card as soon as you can and start using it for small transactions and paying it back. It can take up to six months to get a credit history (best case scenario around 3 months).
A landlord will generally not rent to you if you don’t have credit history. You might be able to ask to pay a large deposit instead (make sure you get this in writing!).
If you don’t have credit history you need to have a guarantor (a person who lives in America – preferably New York that will guarantee (cover) your rental payments if you can’t make them. Landlord’s expect that your guarantor will earn 80x the monthly rent. In case you’re wondering – that’s a lot! There are company’s that will also act as your guarantor if you don’t know anyone. Google them! Alternatively- get a sub-let for a few months for an easier option.
If you are on a good salary you may not need credit history, but you are expected to earn 40x the monthly rent. So say for a 1 bedroom apartment that is $3000 a month you will need to be earning $120,000.00 +. Without credit history it’s likely you will have to put down a big security deposit. Ask if the landlord will accept this in lieu of credit history.
With all apartments it’s standard to pay the first and last month upfront as a security deposit and the first month’s rent in advance. So you are looking at (for a $3K a month apartment) dropping at least $9K upfront. Bills you are looking at around $50 p/m for wifi and $50-100 p/m for electricity.
Apartments turn around quickly here so don’t go see things until you are ready to rent. You would get heartbroken if you see your dream pad and you aren’t ready to throw-down some cash.
3. Have your paperwork ready – proof of income, visa/citizenship, last 3 months worth of bank statements, pay-stubs from past 3 months.
4. Have some savings. Sounds basic but it will help take a lot of pressure off! I’d say to set up a place (places are generally not furnished in New York) you are going to need at least $1.5K – $3K to set up your place with furniture and a tv if your work is not paying to ship all your furniture over. Most places come with fridge, oven, dishwasher and microwave (although often not a washer and dryer).
All in all, if I add up what it cost us to move (Airbnb + deposit + first month rent + furniture) it was around $17K (USD) but to take the pressure off I’d say with $22K (USD) you could move to New York (as a couple living in your own place) pretty comfortably – and not just eat $1 slices of pizza to get by. Of course you can do it for less if you don’t want your own place/you want to share with roomies. Sharing is really common if you’re in your 30’s and want a lush spot for half the price.
It is starting your life all over again, it’s painful, it’s expensive but my oh my you will be proud of yourself once you have actually managed it! Don’t let me put you off! People wouldn’t do it if it wasn’t worth it! It is a really special place with endless opportunities that make it worthwhile. With this knowledge in your back pocket you won’t need me to wish you Good Luck!
Pave & Pave Creative 