People love living in New York City, and it isn’t hard to see why. The city if full of good food, great events, diversity and culture, and there is always something to do (and it’s usually within walking distance). There is something for everyone in NYC and people are proud to be a part of it.
However, when it comes to real estate, with sky high prices many have a hard time buying, selling and living in NYC. People are starting to look outside of the city to buy, sell and live.
- Lower Taxes – Lower taxes outside of NYC will help you save money on just about everything. The city has some of the highest income tax and sales tax, meaning you are paying a higher tax on your pay check as well as just about everything else you purchase. By moving outside of the city you will keep more of your hard earned money.
- More Space – Everyone has heard about the people living in small studios in New York City and many people don’t mind putting up with the cramped living spaces to enjoy being in the middle of it all, however, some people would like more space. Moving outside of the city allows you to purchase or rent more spacious units or homes for less money. Many people choose to look outside of the city when they have small children and would like a yard for them to play in.
- You can own a dog – While you can own a dog in NYC, many residents opt for cats because of the ease of caring for them. Many property owners or renters in the city do not have easy access to places for dogs to run, play and use the restroom. If you see Fido in your future, you might want to look in the areas surrounding the city before purchasing a property.
- Variety of scenery/landscapes – The cityscape is beautiful, but it’s also something that you can appreciate from outside of the city. By living across the river you can take in the beautiful city while still having only a short drive to the beach or numerous parks.
- Commute – If you work in the city but have purchased outside of it your commute is going to take longer. While this might not seem like a big deal for the advantages that you get to experience by purchasing outside of NYC, a long commute day after day can start to affect you over time.
- More driving – By moving outside of the city you will have to drive or commute to do more things. When living inside of NYC you quickly get used to walking, biking or taking public transportation everywhere you go. Once you are outside of the city (depending on where you go) it will take you longer to get a lot of places and you will most likely want your own transportation.
- Missing out on the events – Not that there aren’t lots of activities outside of the city to participate in, but once you are living on the outside, after a long day’s work you might not feel like heading into the business of the city. There are many events and activities that you will miss out on due to not wanting to travel into NYC.
The decision of living inside of New York City or looking outside of the City can be a tough one. The right move is different for everyone and one that should not be made lightly. If you have questions about real estate comparisons between NYC and the surrounding areas, contact Kasandra Gambo at 862-239-0299 to discuss your real estate needs.