Author Topic: Deciding on where to live - pricy vs. long commute  (Read 5591 times)

SpendyMcSpend

  • Bristles
  • ***
  • Posts: 320
Deciding on where to live - pricy vs. long commute
« on: April 16, 2013, 09:56:42 AM »
Currently I'm 30, I live in Manhattan and work downtown.  I pay $1450 for a room in a "2 bedroom" apartment.  It's sort of falling apart but I have an elevator and laundry in the building (in the creepy basement).  Anyway, there is no living room and my roommate has the other bedroom.  I really like it though.  My bedroom is large and furnished so I didn't have to buy anything.  I have a king-sized bed and two small closets and an air conditioner.  This includes utilities as well.  The annoying parts are that when it rains there are water marks/stains around the ceiling/windows and you can hear traffic (it's pretty damn loud) at night.  The location is perfect though.  I had a 10 minute commute on a recent assignment. 

Right now, I take the subway to work and commute about 45-50 minutes (5-8 minute walk to subway, 25 minute subway ride, 10 minute walk to work from subway), with some extra time built in for waiting for the subway.  I work all the way downtown for the next few months so I'm going to be biking there (30-35 minute bike ride). 

Anyway my problem is that my rent is too high.  I can find a new place in Queens or Brooklyn somewhere which will cost about $1000 per month if you include utilities but my commute will be more like 60-75 minutes.  If I go home after work then want to go out to see friends it will be 60 minutes home then another 45 or so back to hang out with people.  I also am trying to date and it's a little easier if you are actually on the island of Manhattan. 

So my question is, is it worth the $400 a month to be so far from where I want to be? 

Right now I have these expenses:
Gross income every 2 weeks:  $2200
401K contribution every 2 weeks: $210
Taxes every 2 weeks: $575
Net Income every 2 weeks:  $1415

$1415x2 = $2830
Rent and utilities:  $1450
Toiletries:  $20
Food:  $125
"Going out" dates/socializing:  $150
Student loans:  $475
Gym:  $35
Netflix:  $8
Cabs at night (safety, as needed):  $40
Subway monthly: $110
Haircuts:  $20
Clothing:  ?

I should be getting a 5% raise in August which I will add to my 401k savings.  My loans are at pretty good interest rates at the moment.

Current savings:
401k:  $77000
Savings account: $3500
Student loan balance:  $54,000

I am doing okay for now, but I feel like I'm treading water.  I have to stay at this job for a year or two to get the experience needed to move on.

boy_bye

  • Handlebar Stache
  • *****
  • Posts: 2471
Re: Deciding on where to live - pricy vs. long commute
« Reply #1 on: April 16, 2013, 10:08:38 AM »
i think you're overestimating how long your commute will be from brooklyn. if you think critically about where you're working, and choose where to live based off that and the trains available in between, you can have a really easy commute.

for instance, i lived in park slope and then prospect heights, and my commute to rockefeller center only took me 30 minutes. the B and Q trains are amazing! if you're working downtown, it could be even faster.

also, really, you think it's easier to date in manhattan? every single guy i went out with my 5 years in new york lived in brooklyn. even the ones i met in manhattan! it's really not that far away -- go exploring and see for yourself.

(all this goes for queens as well, i just don't have as much experience with queens since i lived in brooklyn.)

SpendyMcSpend

  • Bristles
  • ***
  • Posts: 320
Re: Deciding on where to live - pricy vs. long commute
« Reply #2 on: April 16, 2013, 10:16:09 AM »
From what I've heard, Park Slope prices are around the same price as in Manhattan this year.  I'd have to see how fast the commute is from cheaper areas like Ft. Greene.

brewer12345

  • Handlebar Stache
  • *****
  • Posts: 1383
Re: Deciding on where to live - pricy vs. long commute
« Reply #3 on: April 16, 2013, 10:37:16 AM »
You could look at Long Island City in Queens, but if you are regularly commuting to way downtown it would be a hassle.  You could also look at areas like Jersey City.  Depending on where you are commuting to, it could be a really fast commute.

I would suggest that unless you will soon be making six figures, you may want to consider relocating to a less stupidly costly area.  I finally did a couple years ago after growing up in Queens and spending most mof my adult life in the NYC area and I should have done so sooner.

I Love Cake

  • Stubble
  • **
  • Posts: 124
Re: Deciding on where to live - pricy vs. long commute
« Reply #4 on: April 16, 2013, 10:38:23 AM »
I think you are young, in good financial shape and should do what is easier for you. I am all for simplicity. If all of your figures are correct I would stay in Manhattan-maybe even move into another apartment that doesn't have as much traffic noise? (like the opposite side of the building?) or get a white noise machine

but if you go to Manhattan for your socializing and it is easier to get to your job and you are happy there then you don't need to move-you can afford this apartment

Use it up, wear it out...

  • Stubble
  • **
  • Posts: 224
  • Location: Brooklyn, NYC
Re: Deciding on where to live - pricy vs. long commute
« Reply #5 on: April 16, 2013, 12:02:23 PM »
I live by Windsor Terrace / Flatbush. It's further away than Park Slope, and cheaper. Even changing trains (Q to the 2/3 at Atlantic Ave) I can get to Wall St in 30 minutes.

SpendyMcSpend

  • Bristles
  • ***
  • Posts: 320
Re: Deciding on where to live - pricy vs. long commute
« Reply #6 on: April 16, 2013, 12:10:38 PM »
I live by Windsor Terrace / Flatbush. It's further away than Park Slope, and cheaper. Even changing trains (Q to the 2/3 at Atlantic Ave) I can get to Wall St in 30 minutes.

Problem is half the time I work in midtown.

Use it up, wear it out...

  • Stubble
  • **
  • Posts: 224
  • Location: Brooklyn, NYC
Re: Deciding on where to live - pricy vs. long commute
« Reply #7 on: April 16, 2013, 12:23:21 PM »
I live by Windsor Terrace / Flatbush. It's further away than Park Slope, and cheaper. Even changing trains (Q to the 2/3 at Atlantic Ave) I can get to Wall St in 30 minutes.

Problem is half the time I work in midtown.

45 minutes to times square by Q train.

JohnGalt

  • Bristles
  • ***
  • Posts: 484
  • Age: 35
  • Location: TX
Re: Deciding on where to live - pricy vs. long commute
« Reply #8 on: April 16, 2013, 12:41:46 PM »
Nothing useful to add here but holy shit NYC rents always blow my mind.  $1450 for 1 room in a small apartment in a building that is falling apart but your happy just to have an elevator and a laundry room in a "creepy" basement + you need to take cabs at night for "safety"? 

indoexile

  • 5 O'Clock Shadow
  • *
  • Posts: 7
Re: Deciding on where to live - pricy vs. long commute
« Reply #9 on: April 16, 2013, 03:23:57 PM »
Nothing useful to add here but holy shit NYC rents always blow my mind.  $1450 for 1 room in a small apartment in a building that is falling apart but your happy just to have an elevator and a laundry room in a "creepy" basement + you need to take cabs at night for "safety"? 

It's about the same in SF except with much worse public transit and the fact that its SF and not NYC.