I am applying to graduate school programs at Columbia and NYU and I was hoping you guys could give me some estimates on the kind of off campus housing we could get near each school. We are planning on selling our cars and relying on walking/public transportation to get around. We would like at least a 2bed2bath. We expect that we will be able to comfortably afford up to 6K a month in rent or payment. I don't want to spend anymore because we want to be able to travel some and do fun things in the city(see plays, eat out etc).
My husband is worried that we may have to live in a tiny place or a "roach motel". I would like to know what some people who live in or near these areas actually think.
Thanks!
Re: NYU, Columbia Rent?
$6000 a month? I'll rent you my townhouse for that much money! Ok, it's in SI, but the commute isn't too long!
Seriously tho'...I'm thinking you can get a decent apartment around 2-3. If you really want to spend 6? Look into buying a co-op or condo.
You'll be able to find a lovely place for 6K. All that you want and a door man and perhaps some other perks like a gym or pool. I really think all of Manhattan is available to you so you wouldn't just have to focus on living right near Columbia the upper west side (60th-90th) is lovely and would make a very easy commute up to Columbia via the subway, while still giving you access to the rest of the city when you're not in school.
I would also suggest working with a broker since it is your first time in the city and the fee is something you could swing. I would also tell them that you're looking in the 4K range so it gives you some wiggle room to move up in pricing if you don't like the apartments in the 4K range. (I found smallish 2 bedrooms for around 3K. So I think 4K is nice starting place).
Considering how low interest rates are an how much housing has come down, I would suggest buying something through a broker-- you certainly have the funds (although, have you taken into account in your budget that NYC prices on food, clothes and living is much more than pretty much anywhere in Kansas?), and if you're going to be here for grad school and after, your investment is probably pretty secure. Go onto Streeteasy.com for listings... and NYtimes has neighborhood analyses that might help you.
That being said, if you want to rent, talk to your school, b/c they may have subsidized housing for grad students. If not, go through a broker-- they'll do leg work that you can't do and help you adjust to the market in NYC. Craigslist is good for background research to give you an idea of what you could get....... good luck