Apartment Hunting In NYC? 5 Money-Saving Tips For Savvy Renters

February 22, 2021

Finding a rental apartment in Harlem NYC is a daunting task at the best of times. When you want to stick to a tight budget, it’s even more of a challenge.

Let’s go step by step through the process and consider ways to get the best possible deal for your money.

Avoid broker’s fees

It’s a no-brainer. When you’re hunting online for your ideal rental apartment, limit your selection to ‘no-fee’ searches. This means that the broker won’t be charging you for the privilege of renting you an apartment that will earn them a commission from the owner.

Choose your area

Next priority is to choose an area that has all the facilities you need, but won’t break your budget. Public transportation in NYC is reliable and inexpensive, so you may be able to save a lot by moving further out, and commuting to the city center.  For example, while the average price of a 1-bedroom apartment in downtown Manhattan is $3450, in East Village it drops to $2995, and in Long Island City, where it’s $2895. That represents a saving of over $500 per month. Think about what you could spend $6000 per year on.

By submitting this form, you are consenting to receive marketing emails from: Harlem World Magazine, 2521 1/2 west 42nd street, Los Angeles, CA, 90008, https://www.harlemworldmagazine.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Choose your location

Cut rental costs by selecting an apartment on a higher floor, which, although less convenient, will typically be cheaper. In the same way, if the building is close to a subway access point, the rent will be higher, so go for something which is a few minute’s walk away. You’ll benefit from the daily exercise as well as the lower rental.

Ditch non-essentials

Be realistic about what’s essential for you.  Don’t pay a premium for security, or even an elevator if you can easily live without them.

Consider going bigger

It’s a fact that larger apartments tend to be cheaper, per bedroom. Would it be worth taking something larger, and sharing expenses with a couple of others? Of course, you’d have to be ready to make some compromises in a shared space, but choose your companions carefully and you could save even more cash.

Also, think about ensuring you have enough space to create a functional home office, for yourself and possibly others to use in these changing times. If you can work from home you’ll save money on commuting and eating out, so factor that into your cost/benefit equation.

 Access free stuff

Once you’ve moved into your new apartment, keep on finding ways to save money.  Why invest in new furniture? Around the end of each month, when people tend to move out of apartments, you’ll find great free furniture on the streets. Newsletters such as TimeOut New York contain a wealth of information about free events and activities. Why pay for a gym membership when there are hundreds of opportunities to work out for free in amazing locations across the city? Join a MeetUp group to find new friends who share your interests (and your budget).

The key is simply to use your creativity (plus the cash you’ve saved with your savvy rental strategy) to make the most of every moment living in the greatest city in the world!

We're your source for local coverage, we count on your support. SUPPORT US!
Your support is crucial in maintaining a healthy democracy and quality journalism. With your contribution, we can continue to provide engaging news and free access to all.
accepted credit cards

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles