Rent or Run!

Trying to find an affordable living space in NYC today is close to none. With prices up to $3000+ for a one bedroom depending on location. It seems that everything is going up besides your paycheck, so what’s a New Yorker to do? You could consider buying.

Owning an affordable home in NYC in my opinion could be more reasonable than shelling 3k a month. Although owning is a headache in itself- investing in something that potentially gives you a return makes it worth while. There are pros and cons in renting vs buying which Fidelity points out in the provided link….

When All Else Fails….Run!

It’s no secret that anywhere is more affordable than NYC. I find more and more family members and friends saying “ I can’t afford to live here anymore”. NYC is becoming a land for the wealthy (many might think it already is) and let’s face it; you definitely get more bang for your buck in other states. I recently visited my parents who live in Atlanta, GA where 100k+ home gets you over two bedrooms, 1000+ square feet of space, and a back yard!

“NYC is becoming a land for the wealthy”.

Living in NYC has many challenges, but it’s a place I call home. As a native from Panama I came to the U.S. in 1985 and settled in Brooklyn. I love my borough because of it’s fast pace and diversity. Eventually I plan to leave NYC for a more “slower pace”, but for now I have faith that soon I will be a homeowner and claim a stake in the American dream.