Buying my first apartment in NYC (is it worth it?)
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- Опубликовано: 11 сен 2024
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COVID has lowered prices to buy units in New York 10%-15%! In this video, Luis and I explore what our options are to buy an apartment in our favorite neighborhood, Long Island City. We look at three awesome units. Which is your favorite?
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I love how individuals talking about 2 and 3 million dollar apartments casually refer to the convenience of a $2.75 subway ride!
$2.75 actually
@@ssady5405 right...
If you can afford a 2 or 3 MILLION DOLLAR in Manhattan - Buy a Mercedes Benz instead of buying a metro card and getting robbed by career criminals!
@@dexterspeights3484 between the traffic and parking, not always worth it in Manhattan
@@dexterspeights3484 driving sucks in Manhattan. No matter how rich I was, I'd take the subway simply for the speed
The penthouse was GORGEOUS, but I also feel like the townhouse would be so nice for the baby once she’s a little older with that yard to play in and such. You really can’t go wrong, they’re all beautiful!
Imo Sarah and Luis should buy. Its the way better option. Owning property will be the best for themselves and future generation.
So true especially in NYC. You need a yard to escape hectic city life. I love my yard. I sit in there and relax. My nature.
why americans go crazy with the wine fridge i don't get it
I'm American and don't get it 😆
right esp if youre in NYC and can get great wine at supplier prices in a hop or two
It's cool for first time home buyers or folks who've never had one before. The reality is it's the dumbest waste of money and space ever created for a small apartment. Any NYC wine spot has several fridges with cooled wine ready to go. And no one fills up their personal fridge in the city anwyay
It makes them feel classy. Pseudo-snobbery.
@@ohlooocha right. I live in NY good wine is so easy to come by at cheaper prices and close by. You really don't NEED a wine fridge.
Penthouse! The baby will be fine with the spiral staircase since you can easily purchase a lockable gate for it. Plus the penthouse's value will appreciate greater in the long run if you guys decide to sell.
I agree 😉
That deck though😐
The staircase looks dangerous, not just for babies , for everyone
As a father of two, the townhouse is the only choice to make... The other two would be a nightmare with a baby, trust me... Congratulations to you both by the way!
Ever hear of a baby gate? Must have if u have two
Agree with u!
Plus a yard for kids to run and play in.
@@Valencenliberty my nephew and niece would climb over the baby gate 😑
@@nenaj1 Same as mine
Moved to NYC two years ago with three kids. Trust me, go for the townhouse. You will be outside a lot for your own health and the babies. Better to not have to wait on that elevator.
👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿
Finally, after years of watching numerous vidoes, I hear the words family friendly neighborhood. So many vloggers are single or couples and no kids living in ny. But for fsmilies wanting to move to ny , info is limited. Its going to be so Exciting watchinv videos from you guys on this new family endeavor while living in NYC. We are adding LC to our list right nxt to rego park. !!
let's not forget that the Roaring 20s was followed by the Great Depression.
New York serviced that as well..
Right now the stock market is booming and the rest is under Great Depression!
Debbie Downer. Bah pah bah dah.....Baaaaaaaa
Let's not forget that _Saved by the Bell_ was followed by _Saved by the Bell: The College Years_
@@AlumniQuad lmfao
LOW KEY I NEVER THOUGHT I'D BE ABLE TO AFFORD A LUXURY 1 BEDROOM AND NOW I CAN. I got a contract that pays me 3x how much money I used to make 2 years ago. Keep the faith, guys. I somehow am 5 years ahead of where I thought I would be this year. Covid isn't the worst!
The garden apartment, bottom unit. I wish that was for sale! When you have a babe, the first floor is easier to juggle the stroller, back pack, purse, running late etc.
My goodness! All of these apartments are so fancy and would fit your lifestyle. I think the townhouse is the most logical of the three.
ActionKid you should rent a room in their new spot so you can babysit
logical is good.
hey ak i rlly love your streams and vids
@@pkal244 😂😂😂
Yah, just based on having drawers. Lol who needs a double height ceiling penthouse. ;)
I would do the garden townhouse with a baby coming + that basement makes a perfect office! I totally get loving the luxury - but babies & a business are a reality.
But if you have the budget to buy the choice between the first two is clear - for sure the penthouse, since they were basically the same price!
My Gosh I love NYC - my dream is just to be able to visit a couple of times a year!
I know the 3rd one is for rent but I do think it’ll be best with a baby. Very spacious and also has a garden terrace so the baby can actually have fun and play outside. You can also have a small dog if you wanted.
Didn’t u hear Sarah say: How much they put out a year for rent. Buying when low is the proper idea. Then u sell make money
Stairs u put a baby gate in front of it
@@Valencenliberty yes I agree! Owning is the better way to go that’s something I would love to accomplish someday but I guess I’m saying the 3rd option is good for baby or children just so they can have a yard to play in
I just discovered this channel and I like how sweet she is! She looks so beautiful pregnant. Makes me want to miss my days walking aroung NYC when I was pregnant!
normally whenever you think the bottom was hit is provably not it. NYC prices are going to go down at least 50% if you do believe just look at CDO markets and you ll see the damage
Please link some of your research.....thanks in advance 👍
2nd last property- the Garden Triplex Unit with garden..especially with children. Nature is key for healthy little people. It was beautifully decorated, sleek but cosy bright modern comfortable, soft edges and soft light. Loved it.
You have the perfect view of NYC! The apartment is futuristic and you will enjoy the new experience!
The townhouse with the garden is the most family friendly. Open kitchen with dining and living room, you can see your kid all the time. The kid see green trees. Remember, everything is new to the kid. You have to show them the world in a playfully way....
Penthouse townhouse, too much stone, doesn't feel natural with a kid. Good luck....
2,275,000 is too much. not because expensive it’s just not worth it. You can buy this kind of apartment in Hoboken New Jersey only 1.000.000
Yeah but they probably don’t wanna live in the “Jersey” side 💀
I mean most would rather live in the city than Jersey. I'd be willing to pay twice as much, but then again I'm not buying a $2.2M apt either
1) I screamed when you told us your rent! 2) My favorite was the 5 Court Square PHA. My current house is slightly larger than the TERRACE, and you, Luis and your princess can grow into that space- it could be a true forever NYC home. BUT 2.65M girl!
I don’t think she is seriously searching to buy otherwise she would have been preapproved by the bank and looking for a property in a realistic price range
I’m surprised she was looking at $2.659 mil when if you multiply their $60k annual rent by an average 30 year mortgage, you get 1.8mil which is a huge difference. They could totally have other investments but still...that’s even more money
@@tb11212 what the heck, 60k rent!
What the heck does Luis do for a living? How can this couple afford $5k/month in rent?
Forget about the price of the apartments the HOA will kill you
I also think she does not have a choice. Being a freelancer you can not generate a fixed income. The only way she could buy houses with such astronomic prices is having a rich husband and/or being rich herself. In both cases, you need an average salary per month above the redemption. Therefore, renting is the most suitable option for now, or she needs to move outside NYC.
I think the townhouse would be perfect for your growing family.
Not gonna lie, if you have a garage in 5 court square you might as well take it. Houses in north queens hit 2 mill often and they're older and out in the boons. District 25 is a good school district but LIC is bullish so theres way more bang for the buck even at 3 milly.
Im no broker but renting anything for more than 3 stacks monthly is irresponsible, its not a sellers market at the moment so you have all the power. Granted you'd def have to leave LIC but Willy B will welcome you with open arma for half the price and its 10mins away.
You may want to consider a nice apartment like that for half the price on the Jersey City waterfront, with skyline views of Manhattan and a 2 min train ride into NYC. The places you showed were beautiful though!
I know I'm late commenting - not sure how I missed this. One suggestion. You should go a little above your current budget. You're both young & can expect your incomes to grow. Buying a little more than is comforrable now will be tight on your budget, but as your income grows & your property value increases, it will be worth it. Best of luck!
Believe me when I say there is something on the market to baby proof every inch of your space. You can even hire someone to come in and baby proof for you.
Lol all the haters in the comment making anti-NYC and baby comments are so annoying. Stop projecting. Sarah the townhouse is goals can’t wait to watch you grow your family here.
Sarah I’ve been watching you before I went to school here I’m a junior now you’re a great weekend planner
All three of those apartments are quite posh! I really like that third one the most, and it is not because it is the cheapest option, lol! I like that the last one has a really nice kitchen along with both a roomy basement and the terrace with the nice view. I'd live there if I had the money!
Spending $60k/yr for rent is called stupidity!
Not living in the greatest city in the world is called stupidity. Now tell us all in what meaningless boring shithole you live in.
@alwaysmylove I live in NYC and purchased my apartment. I didn’t waste money on rent. Go educate yourself.
@@balzoemg8415 You have no fking idea what you are talking about. Learn to comprehend when you read something.
@@johnottr when you think everywhere else is a shithole, there’s only one right answer.
@@valebliz I dont think everywhere else is a shithole, just where you live.
Move to Jackson heights. Lots of nice houses here. Or woodside. Still close to L.ic. You do realize New York City are the 5 boroughs. Not just Manhattan? There are houses everywhere. Plus there is upstate New York too. You must not be a native. I live in Queens. There are houses and yards everywhere 🤔. You are too obsessed with the skyline. Maybe cuz I’m raised here I just don’t care too much. I rather look at mountains.
Can get a big 3 bedroom right off the Journal Square stop under 400k in NJ. Under 25 min to Penn station or world trade. Only $110 for monthly path pass! Save easily %3 in income tax from your RUclips business. Or can get a huge mansion house in Midwood brooklyn 5+ bedroom, plus huge common areas which those apartment are lacking, also garage huge yard and driveway. much cheaper than these apartments. LIC is way more expensive than south Brooklyn.
Spiral staircase looks good but its a bugger trying to transport furniture up there and not really safe for toddlers .
Buying is too expensive there. I would invest alot in stocks instead and get out before a major crash. Also, the first purchase doesn’t have to be luxury. It’s not easy paying it off for life, having savings and all else. Peace of mind is more important.
As if you know when a major crash would come.
@@zeny7288 I was thinking the same lol
The townhouse is my preference. I don’t trust spiral stairs for children. Hopefully, you can buy reasonably priced something soon.
The townhome triplex. It reminds me of L.A., I'm a West Coast girl for life.
love this ❤️
Thanks Ryan!
This feels like two worlds colliding 🙌🏻 Ryan would find you a great deal, Sarah! 🔥
I live in NYC and let me tell you something I would rather live here then any other part of the Country. Yes it’s expensive here but there is a reason for that. Everything is here, and close and what I mean by that is bars, schools, hospitals, there’s soo much to do here. If you live in a place like Texas then yes you can afford a beautiful big house for cheap but there’s one problem. It is boring over there, you have to drive and everything is far, not much to do.
Everyone figured out walkable neighborhoods with shops, apartments and entertainment. Here in Dallas there are literally three such neighborhoods in under 10 mins of driving. And the thing is, a typical middle class family can afford a decent house and have money to save for vacations.
EXACTLYYYY
Nice big coop apartments in Riverdale. 15min into Manhattan. 1/2 the price for a 3 bedroom. We’ve had som celebrities that lived in our building
the last one with the yard great for little Sahara to have her own back yard
3 terrible apartments for someone with a young child. The 1st had virtually no common space - no living or dining area. It was well over a mil overpriced by Manhattan prices. The windows look cool but they generate insane heat when the sun hits either the East or West The 2nd apt also was a major hazard for a child - staircase and balcony.
Invest in Manhattan. Long Island City has gotten way too expensive and the neighborhoods can’t compete with Manhattan or areas in Queens like Forest Hills. That first apt was almost a scam for the money. There are tens of thousands of available apts right now at a fraction of 2019 rents. The city will take off again but slower since people can work remotely full time or half most weeks.
GREAT VIDEO 😊
Iam happy for the progress you and your husband made . I v watched a video where you explained the situation you and your husband were years ago and to now living an UPPER MIDDLE CLASS lifestyle , it's INSPIRING. 👏👏👏
I live in Manhattan Chelsea, I have a three bedroom apartment one block away from Penn Station. I rent out two of the bedrooms and my wife and I live for Free! In Manhattan! I haven’t had a job in three years. I remembered what paying rent used to be but life is great now:)
My favorite is the last one for the versatility and it has the best view of Manhattan and assuming you can negotiate a great deal on rent. A $2.5 M purchase price is a hefty monthly payment not to mention the annual property taxes and insurance. I would try to find something for $1M for your first purchase; build up some equity and sell it for a nice profit when the economy bounces back.
This seems very smart!
But maybe they have to go further away from Manhattan to get a really nice place for that price.
I love the penthouse! Go glad the baby is about ready to come. You will be a terrific mama!
Thank you so much! :)
That mirror home gym is excellent 👌💪🧠
Congratulations on the baby! Please keep in mind interest rates too and the larger financial scene. I'm sure you'll find the one you love and makes a fit for your growing family!
It's not just the purchase price, it's the monthly fees too, and taxes. Did you work out how that would factor in?
Fun fact for your future guests if you move into the first place!!
At 6:50 the man says “I want to point out this is a supreme courthouse, not a regular courthouse.” That’s actually incorrect! New York is very unique in the sense that its trial-level county courts are called “supreme” courts, while the majority of other states use the term “superior”. So while the trial court for the county of San Francisco is called “Superior Court of California County of San Francisco” and the highest appellate court in California is the “Supreme Court of California”, the courthouse the first home looks over is the actually a branch location of a New York Supreme Court (that is, a trial court of general jurisdiction) while the highest appellate court in New York is the “Court of Appeals, New York” located in Albany.
This has tripped me up more than a few times in law school but would be a fun piece of information for whoever lives there! Love your channel, so excited for your move!
Sarah, I spent years on Wall Street doing my wn business. Don't get cheated. It's not worth it. The city is crazy and a lot of crazy people move to NYC that's why I don't live there anymore.
@sarah funk. I once served you dinner at a restaurant called monarch theatre in Brooklyn and the entire time l was wondering were l recognised you from. Then RUclips recommended you lol. This is funny to me
It’s a new year with bright and beautiful ideals , hope you’ll got a huge list for this 2021 . Coz last year was messed up due to many weren’t wise enough to consider investment . But the question, what will you achieve this year?
Nothing other than the gift of life. And I have consider venturing into something lucrative and profitable , last year was a lesson to everyone especially me . Well seeing 2021 is enough reason to sit down and think about your financial life .
People are scared of investing because of high rate of unprofessionals in the business.
@@robbie6028 So true. I’m retired and just started three weeks ago. I have earned $24,000 with just $9,000
I checked on google now. She’s a registered broker / trader in United States. I need this. How can I connect with her . I hope she’ll get me back
@@robbie6028 Thank you
My parisian apartment is tiny and i pay 400 euros p/week. Its considered nice but damn these apartments are INSANE
400 a week? help. :p
@@snokzor what do you mean? Are you paying more?
@@OxytocinUN no way less! but I don't live in Paris
Also, just buy a house for 1.2 million. It's in your budget... Based upon your previous videos . And If it's a fixer upper, more video content and investment property too! 👍
Some don't want the responsibility of a house. An apt is just as, if not a better investment. Although, not these apartments.
@@MK-hh1vo why do you say so? Apt or condo often have monthly fees
Fun video!! I really enjoyed going along. I totally understand having to shell out $60K a year! Whew! But, as new parents, it seems like the townhouse for NOW would be better for your family. Those stairs in the penthouse stairs scare me when I think about a baby. Just a thought! Looking forward to seeing what you guys choose and congrats again!!!
'It has windows?! My mind is blown'-this girl
✨main character energy✨ keep shining your light girl!
That $60,000 could be better used to put an amorous down payment on a million dollar house.
If you’re looking for something family oriented, buy a condo or a townhouse. The value of the place will appreciate and at that point it doesn’t make sense to throw away money if you’re seeking the forever home. Renting an apartment makes sense if you’re single or you’re a couple still figuring out whether you really do have a long term relationship in your future.
Whatever you do you should buy! Rent is throwing money away....if you need an Architect let me know 🤣
Buying is not always the best. It depends. U still pay money to someone (bank) and if anything goes wrong you are on the hook for repair and maintenance. I’ve been renting cheaply a really nice apartment and don’t spend a dime on repairs or maintenance. It depends on the area and a lot of factors.
As for buying I have to say I liked the court penthouse. It is not that much more then the other unit and the views are unbeatable. Good luck in getting your home. And best wishes for a safe and blessed birth!
The realtor is doing an amazing job!
You neglected to mention how many people left NYC.
About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast,
which analyzed anonymized cell phone location data.
Some 3.5 million people earning lower average incomes moved into the city during that same period, the report showed.
Nice apartments! Still very pricey though 😂 we bought a house with just under 1M dollars in Staten Island during Covid and we're pretty happy with our decision so far
I am so happy for you guys and your growing family! Congrats!
I’m in love with The Townhouse on the Park 🖤✨🖤✨
If you've got some decent cash for a down (20%+) buy something in your budget, but definitely buy. If you don't have a decent down, may as well keep renting.
Wouldn't more development in Long Island City mean that prices of apartments will come down in the future? Unless more people move there compared to the amount of apartments built for sale.
It will become more desirable to live there if they develop more non-residential things, like more stores, etc. Then, the residential prices will go up.
Loved this so much Sarah!!! I see all the stars ✨💝🌈aligning for your growing famiky!!! Can’t wait to see the new journey unfold!!!
Louie was such a cute little kid! You guys are gonna have a beautiful baby together. I cant wait until we get to meet her in your videos ❤ ... I hope we get to meet her
If you keep on renting, you can have a townhouse for the same price than your small appartement, so, go for it.
Prices seem normal for LIC. Upscaled at least, considering how great the area is. The only thing not mention is the Maintenance fees or Coop board regulations which are the most annoying and pricey. Especially if an Airbnb hacking possibility is there to offset the cost. Since your not buying as a couple and more as a family. Child friendlier space is Paramount. On a Side note. Impressive how clear everyone was with the mask 😷 on.
Welcome to Long Island city I’m from the neighborhood.
Yes, it was the small window. 2022 prices are sky high!
Go where the grandparents are. You need built in babysitting.
In the city, at least for us, you get a network of families who all trade sleepovers.
Edit- grandparents are needed for infant/toddler babysitting though, good point!
Some grandparents actually have their own lives and aren't interested in taking care of kids; they have already done that.
@@johnfd0210 having your own life doesn't mean you aren't available to help with your own grandkids. Hell lots of grandparents move to where the kids are.
@@bitplaya7432 but you said that as if it’s their role and not just help. That’s being a little entitled in my opinion
You shoulda collabed with cash jordan
Only if he calmed down slightly lol
@@teresabown2724 Don't hate on Cash!
We live in a new construction in Brooklyn with the same exact floor to ceiling windows and the same faucets and bathroom tiles. The problem with the windows is only one part opens, and you can’t put a screen on it.
Great video...many blessings for you and your husband. I agree,I love Long Island City....keep looking for a great deal....make sure the children like the area too. I wish the best for your family. Take care!!
I think garden apartment would be best with a babe.
The difference between now and 1918 is that remote working is more of an option now. It'll be interesting to see if that leads to people moving away from the cities in the coming years.
Amazing apartment though! I love the smart home features.
Do you think Covid might spell the end of the Big City?
@@mikeoglen6848 it seems like sea changes have been getting more popular and this may hasten the process. There will always be reasons why some people may choose to remain in a city, like their established communities, social activities etc, but there's not the same sort of need to be in the city as there has been since the start of the industrial revolution.
@@BucketListTravellers I would tend to agree with you there...
@@mikeoglen6848 probably not. People has been spelling the doom of large cities for years . There has been "back-to-nature", "back-to-the-land" movements since the days of World War II, if not before, and none of them has made a dent to the growth of cities. The only real competition to the big city is other big cities, which there are more now than before.
@@Jack-ti7mg Except that post-Covid we could be seeing something of a Re-Set and the dawn of a New Normal? We haven't seen anything like this since the end of WWII...and if we add the influence of the Internet and other new technologies?
Why pay someone else's building off by paying rent? Go for the Penthouse Dream Apartment-just go buy it giggles! There are plenty of stair guards or other curvy structures to keep your wee one away from the spiral stairs. Pet enclosures would even be more creative as many come in sections and configurations. One day, when ready to downsize, you would get the most money when selling the PDA! Not sure at this late date what you decided...but if you have not bought a home yet-go for it if still on the market or if there is another that is similar...
I’m from Guate also ❤️🇬🇹🤙🏾 and my dream is to move to the NYC soon 🗽
Definitely the last property is perfect for a family 💜
I thought apartments are rented but condos are bought (and can be rented)? I hear people from NY saying they bought apartments. I don’t get it?
I'm watching all the ads, good luck Sarah and Luis!! and congrats on the baby!!
second apartment is fantastic
Hopefully after the Pandemic over, me and my Family can visited NYC, cause it will be a Dream to visited, and it will be Great if our like Your Guide is You. That would be great.
Always exciting looking at apartments in the city! I'm happy renting for now haha
Long Island city use to be so ugly. Just abandoned factories and prostitution and drugs. Especially back in the 70s, 80s, and 90s. Scary times.
Not anymore! Now it’s one of the most desirable neighborhoods in NYC! 😁
@@gumbie007 unfortunately, it also means there are a lot of bougie people
Window looks perfect to fly a spy drone in. You could install the camera on a protruding arm, then park the drone so its totally silent and invisible. "Great" design!
i really want an apartment like this one day
Hi Sarah, love the apartment tours. Thanks for sharing. The townhouse looks excellent. All the very best. Robert.
I would never throw my hard earned $ away on rent. Yikes!
Its not called rent its called living in the most exciting place in the world.
@Rafael Arturo Mateo Núñez NYC is absolutely the most exciting place in the world.
I like the second one, with the spiral stair case.
Quarantine and watch Sarah funky hahah😝 everything was beautiful but the penthouse was also my favorite 🥰
Great Video Sarah... thanks for highlighting a fantastic neighborhood! I'm raising two kids here and I love it! All these choices are great and I think if you are in a position to buy, now is the time. You might look into some resales, though as you can get more for your money and still have some great amenities. Oh... and I agree with others and the spiral stairs... not a good idea for a baby... you'll have to attach an ugly gate. Happy Hunting!
If you want to buy, check outside those high rise condos, it is going to be cheaper. And you didn't mention the HMO fees which are higher in high rises. If you buy a condo or a house, you need steady income to pay for mortage, when you're a tenant, if you end up broke, you just move out, whereas if you don't pay your mortgage, you loose everything, like many owners did in the 2010 junk bond mortgage crash.
you can sell your condo or house if you can't pay mortgage anymore.
It's the opposite, with renting, you lose everything. With a house, you sell it and most of the time you'll net a gain, if not, you've rented it. :)
Love it all ❤️. I love the 2nd Apartment cause I’m more of a city guy…
Having lived in New York. Astoria and Bensonhurst most of my life. Currently in LI. I would recommend you buy a small house in either Queens or Brooklyn. You can build equity and have a place you can call your own. That's my sincere opinion, since that worked for us.
Wow it must be so insane and cool to live in New York!