New York Living Solutions Tips For Apartment Hunters

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Real estate can be a tricky business if you do not know what you are stepping into, especially in New York and downtown Manhattan where the competition is fierce and the prices and rentals of apartments is costly. It is very important to be prepared with a budget that is realistic and all the necessary paperwork before one embarks on the search.

It is a good idea to look into social networking sites for leads and referrals that can guide you to the right direction. And you should start searching for an apartment at least a month before you actually move out. As a general rule of thumb, you would be well advised not to spend more than 30% of your income on rent. But you should also keep in mind that for Manhattan apartments, landlords frequently have strict income and credit requirements. These typically include bank statements, a photo ID and credit scores.

If the apartment suits you, then you’ll need to give a certified check of the 1st month’s rent along with one month’s rent as a security deposit. You will need a good broker who will typically charge a month’s rent as fee. The advantages of taking the help of a broker is that he is familiar with the neighborhood and landlords and would be able to answer most of your questions, this helps in narrowing down the search. Social amenities are also important while choosing an apartment. For example, schools, shops, subways, restaurants, nightclubs, parks and bus stops are things that ideally one would want near to his apartment.

It is a good idea to spend time in the neighborhood where you have chosen your apartment. You should observe the “hood” early in the morning, during business hours, in the evening and especially at night. This would give you an idea of how safe and active the neighborhood is. If you can afford to wait, then shift apartments after the summer rush is over because prices are very steep in summer due to the economics of supply and demand.