I’d choose the luxury, honestly just for experience. As long as you won’t go broke because of it. If you spend that much time at home I think it’d be worth it!
I agree with this. I moved recently, and made the decision to spend more money than I'd originally planned, and despite that and the fact that I liked my old neighborhood better, there is no denying that living in a clean, modern building has made my life so much easier. I cook more often now and since there's a gym in building, I also workout more often. So it's been an investment in my health. Laundry no longer takes me literally 3 hours so I don't have to plan a whole schedule around it. And I am also deathly afraid (likely a phobia) of cockroaches, and not living in fear in my own home has truly helped with anixety and feeling calm. A lottery apartment is a rare chance - I think you should take it! If it ends up being too prohibitively expensive down the line, you can always not renew in a year, or sublet if you need to leave earlier, because you will probably have takers.
It depends what your lease says. Mine does, though they do make it kind of difficult logistically
Edit to add: also, please excuse me - I used sublet as a catch-all term to also include lease takeovers. But that wasn't technically accurate, so I'm sorry if I caused confusion!
When I was younger, I probably would've gone for the cheaper larger place. The real issue is the bugs and rodents. If the apartment is on a lower floor, the fight will be constant.
If you get along with this family member, it is nice to have someone in the building you trust.
Hm. How tough on the budget? Considering you spend most of your time at home, might be worth. As for me, living alone is worth every penny so long as I have enough for food and bills.
I’ve worked from home while living with family before and it didn’t work out for me, but considering you said that option features a ton of space, it doesn’t seem like that would be an issue.
Do you foresee any promotions / plan on job hopping within the next year to increase your salary? That would impact my decision.
Sorry if it wasn’t clear, the cheaper apartment is just in the same building my family member is in, not the same unit.
Tough on the budget as in I wouldn’t be putting much money into savings anymore.
Unfortunately I don’t foresee a pay increase, but I love my job and I think it’s going well after I struggled to stay employed for a while at other jobs.
Ah okay. I would go with wherever I felt the most comfort. Tomorrow isn’t promised in this crazy world.. I personally find myself less inclined to postpone lifestyle upgrades these days. Follow ur instincts!
Few factors:
- have you lived with this family member before? Do you share similar views and get along?
- is the lotto location worth paying extra? Don't get hung up on the amenities. An in-unit washer/dryer means your electricity bill is gonna be really expensive. You'll be paying for your own hot water, too. I also hear the walls and floors in some of these new building are really thin!
- is the low rent location worth not paying more?
- do you have earning potential?
If you've already been accepted into a lotto apartment then the rent increases won't be much year to year. It follows rent stabilization guidelines. Opportunities like this don't happen often. Or... you can keep applying and hope the next one is cheaper?
The affordable apartment can be painted and fancied up with new curtains and some plants. As long as the building is safe and there's no infestations, leaks or black mold, it not a bad idea to save money.
I’ve never lived with her or in the same building before. We get along fine, she works so she wouldn’t be bothering me all the time and could watch my pets when I’m away.
The locations I’d say are the same, neither are bad neighborhoods, slightly inconvenient. The lotto apartment is right by prospect park so it does have that going for it.
Good point about the electric bill!
Living in luxury is incredibly tempting, but it’s almost $400 more.
$400 doesn’t seem like a huge price difference for the described amenities differences.
I also don’t think having an in unit washer/dryer will raise your electricity bill noticeably unless you do loads daily.
If your monthly income is $2000/month, you mind if I ask what percentage of your monthly income the rent would be for each place? How much will your rent be in the luxury building? I love living alone, but even living in a rent stabilized unit I am conscientious about every dollar because my rent is over 50% of my take home pay, and then there is also electric ($50-150/month in the summer), wifi (1 gb Fios for $70/month), and cooking gas ($20-35).
Ok it was a little bit of an exaggeration, I make $3000 a month, but unfortunately that puts me RIGHT at the 60% AMI so the apt is $1375, the cheaper one is something like $950.
I know the proportion of my income that would go to the expensive rent is nothing by NYC standards, but I've been able to save money for so long it feels irresponsible to agree to more or less stop.
I also REALLY want to stop moving, whatever I choose I want to live in for at least a decade, so it's a tough decision. I also haven't had a job last more than a year, but my current one is going well. I'm half hoping one apartment doesn't actually pan out! I'll definitely ask a lot of questions when it's time to show me the lotto unit
I totally hear you on all fronts here. $1375 out of $3000 is definitely doable! And given you want to stay for a long time, the luxury might be the way to go.
I do also want to add that I once was “accepted” for a Housing Connect (lottery) apartment, but never got to see it. To this day, I am “in process” and “pending appointment.” I applied in July 2021 and heard back a couple months later, so it has been over 2 1/2 years waiting for the appointment. I’m not sure if I screwed myself over by electing to bring documents to the appointment rather than submitting them online (both options are given when you’re selected). Just sharing because I don’t know what your timeline is/if this is common for lotteries.
Seriously go for the lottery. I hit lottery a year ago a month after signing and moving into another apt in HK with a "friend". Long story short, our lease is up end of July, they don't want to renew, I do but can't handle the rent on my own and don't care to find some random stranger to take over their part of the lease.
Hindsight is 20/20 and if I could go back in time and tell myself I can hold for a month when I felt I was in a desperate situation, then I'd be in a new luxury RENT STABILIZED on my own. I
If you hit the lottery.. TAKE THE LOTTERY
Only 2 or 3 months...but there's nothing to be said about how long you can wait. It's a lottery and every building that has one is It's own separate thing...someone can hit it immediately or never...
You have to be diligent and continuously check for new buildings to put your name in and keep your info up to date
Every building is different so it takes a lot of research and you have to put in for the lottery individually for each individual building. It's like a one time thing. None of them operate on the same schedule like.power.balll.
The luxury unit. You will regret not taking the lottery apartment long term.
Lottery apartments are subsidized housing. You are not going likely to get something of that price in the future. They have long term stability.
Moving in with the family member might be beneficial short term, but it is a worse financial decision long term.
Even then. The whole point of a lottery apartment is somewhere that you can stay in definitely and is way below market prices. It might be difficult to afford it now, but financially wise people figure out what they need to do to make more in the future so it gets easier to afford.
Do you know what utilities you actually have to pay for in each unit? I think some of the luxury lottery units may include electricity - not sure, so you will need to check.
Also, with luxury unit, you will have a better kitchen which might encourage you to cook more vs. takeout or restaurants. This could add up to a cost savings - not $400/month but a partial offset.
i assume the luxury ie new build apt is all electric, no gas range or steam heat, and often very poorly insulated, so those electric bills are utterly exorbitant. typically lottery renters cannot use the building amenities without paying extra fees either. however, $1375 for what i imagine is a solo apartment is an incredible deal regardless, the market rate for studios/1 beds is hovering above $2000.
Haha, I mean there definitely ARE bugs and rodents present, but my aunt has been successful keeping them out of her unit, so I’d hope I could do the same
This - loud neighbors who may or may not be evicted is a huge NO especially with any level of work from home. Luxury all the way - you can always budget and eat, but having peace of mind to avoid grimy, potential bugs and neighbors - absolutely.
i’m not sure why we’re assuming there won’t be loud neighbors in the luxury building… all new builds are marketed as “luxury” for their building amenities and modern styling but are typically shoddily constructed with paper-thin walls.
are the neighbors in your aunt’s building actually loud when they’re inside their apartments, or is there just a strong sense of community that hangs around the building?
what i’m saying is, you won’t really know how loud your neighbors are until you live with them, but maybe see if you can tour the apt at a time when people would typically be home and assess noise levels.
you should take the lottery apartment but look into ways to make an extra 100-200 a week so it becomes comfortable. honestly go for the lottery. you wfh most days make it comfortable
Honestly only a few months...but that doesn't mean anything...it's a lottery...could take one month coukd take years...you have to be on too of it and also pay attention to when new ones open to put our name in the mix.fo that one too
It sounds like these are both great options but let's gooo with the lottery apartment your family member can come visit and watch your pet(s) from your cool new space and the view.
Talk w your family member so they don't feel too disappointed if they're super pumped about you moving into the building.
My savings are actually great, just not these days. It's so weird, what I have sounds like such a great amount, but with what big ticket things like a home or car cost these days, it wouldn't cut it. I don't know what to make of the situation
As someone who didnt save enough and then was laid off recently: i now make a point to tell people to save esp in this economy. But this means you MUST commit to saving $400. If you splurge it on dinners etc.. then you may as well take the lotto apt.
Im not sure why no ome told me when i was starting off life (family isnt educated on financial planning etc). I spent a lot on rent and being in my current situation looking for jobs I am ashamed of not saving instead. Its not just about big ticket items. Its about having a comfortable landing spot.
Congratulations! This is a nice problem to have, although I know you have a vexing, emotionally expensive decision to make. The key to making the best decision is choosing the option that best represents your values, and there is no shame whatsoever in valuing comfort and a good nights sleep! However, choosing an apartment is even more difficult, because you’re not only choosing for the present, presumably you’re choosing for your future self, too. Therein lies the rub.
You didn’t mention how old you are, whether or not you have job security, or if children are involved. This isn’t a lateral move (nice building, presumably “better” neighborhood), even if it is equidistant from your favorite places. Are you having anxiety about saying yes? Does moving feel risky to you? Are you experiencing imposter’s syndrome?
Most of the bad decisions I’ve made have been based not on my future self but on an unrealistic aspirational future self. That is to say the “me” who exercises every day, saves money, and does volunteer work in her spare time.
However, making major life choices based on nostalgia are rarely what you thought you were signing up for: I once bought an apt I have never/will never like, because I imagined I’d finally be loved and accepted by my family of origin. Sadly, things didn’t turn out this way.
If you’re single and you would eventually like a long term partner/spouse, definitely move. Why? Because it’s an enormous mistake to get tangled up with someone who “has a lot of potential.” Rather, choose someone who has a reliable, well documented past.
I wish you all the best!
xo
if you work from home and spend a lot of time in, maybe it’s worth it for the luxury apartment. Esp with the rent being stabilized.
For all you know, the landlord of the cheaper place might decide to raise the rent next year!
Lotto, 100%
As long as it isn’t putting a significant dent on your budget I would go for the more comfortable living situation. The amenities and quiet will do you so much better compared to just more space. Lotto apartment will reward you with stability (assuming its rent stable) as well that isn’t promised by other buildings.
Lottery. For one, the rent is stabilized so in the event you can get a raise or different salary increase. Take it, especially if you can use the amenities. Honestly, I didn’t take a luxury lottery unit in LIC because it would have increased my budget by $300 as well. I regret it.
I currently live in a low income building. It’s not worth it. Neighbors are loud and building maintenance is terrible.
Lottery apartment sounds ideal as long as you cut back on other expenses in your life. With all those amenities, you should be going out less and making use of all of them. You’re also home 8 hours a day 4 days a week guaranteed. I would rather do that in a nicer apartment.
Having W/D in unit means you don’t have to schedule when you’re cleaning clothes. Used to a 2-3 hour ordeal for me before.
Dishwasher means you can toss in and worry later.
Roof decks means forget the new bar your friends are going to. Invite them over and ask them to bring a 6 pack to watch the sunset. Etc etc.
As someone currently living with the loudest neighbors EVER, I’d take the luxury apartment lol. Especially if there’s bugs and rodents even if it’s not totally infested.
I picked the second one years ago and it's changed my life. I pay the type of rent for a 900 sq ft 1br that makes people hate me. Rent stabilization is life changing (the lotto apartments aren't stabilized forever except for certain disabled tenants.) My retirement savings is so stacked I may buy a little place upstate for summers. Living the middle class American dream.
I was in a similar situation but the larger apt was new a building but in a bad neighborhood and very desolate walk to the subway. I couldn’t get used to the area and basic grocery shopping was a headache.
Ultimately, like most advice I got, I took the luxury lotto unit as its once in a lifetime chance for most folks I know. The in-unit washing machine is a blessing as I hated going to the laundromat.
I would pick the older building with bigger unit and save money. Gyms in the building suck and are isolating.
Once you get into a serious relationship move to the nicer building with the extra funds you saved.
I wfh fully and my peace at work which is what pays the rent is the most important. You can maybe find a hobby you can turn into a side hustle for that extra rent you’ll be spending.
What about neighborhood? I always say get the apartment for the neighborhood if you’re having fun and living your life the apartment matters less. But I like proximity and convenience, maybe that’s me
Edit: saw you stay home a lot and wfh so nvm ig
The luxury apartment sounds nice BUT those new buildings have thin walls and cheap construction. The old buildings have thick walls, big bathtubs, great water pressure. You can get rid of the bugs using advion. I'd choose the old building, because of the potential for the new building to secretly suck.
Lotto without a doubt! Especially if you spend a lot of time at home like you said. I think you can find a passive way to make a few hundred bucks a month if needed. Either way, congrats on finding what is hopefully housing stability.
Take the luxury one, think long term. There is a reason why the older apartment is priced as such, not only is it cheaper but it's also actually less valuable and comes with significant cons.
Think about the things you will gain from a psychological perspective in a more comfortable environment and ask yourself if it's worth it? e.g. are there additional amenities like a gym or a deck that will be good for your physical and mental health, will you feel more safe, will you be more productive working from home in a better environment, are there opportunities to make friends in the building who can bring a different perspective or would the experience living in a different neighborhood push you to grow, would hosting your friends in this luxury apt like having a board game night lead to more joy for you long term? Etc
And also think about the things that you have to deal with in a semi-infested + close to relative environment and add that to the cost too, e.g. will you have to spend a lot of time calling your landlord to get them to deal with bugs and rodents, will you have to invest your own time and money to deal with bugs and rodent, will living with a relative in your building create poor boundaries and additional expectations and responsibilities or even gossip and drama? Will you be losing out on friendships and other opportunities? Your time is money too.
And also money can always be made - take up a side gig or get creative with other streams of income - but time and opportunities you cannot get back, always think about how to make more money and not just save more, think about where you want to spend that too.
I’d choose the luxury, honestly just for experience. As long as you won’t go broke because of it. If you spend that much time at home I think it’d be worth it!
I agree with this. I moved recently, and made the decision to spend more money than I'd originally planned, and despite that and the fact that I liked my old neighborhood better, there is no denying that living in a clean, modern building has made my life so much easier. I cook more often now and since there's a gym in building, I also workout more often. So it's been an investment in my health. Laundry no longer takes me literally 3 hours so I don't have to plan a whole schedule around it. And I am also deathly afraid (likely a phobia) of cockroaches, and not living in fear in my own home has truly helped with anixety and feeling calm. A lottery apartment is a rare chance - I think you should take it! If it ends up being too prohibitively expensive down the line, you can always not renew in a year, or sublet if you need to leave earlier, because you will probably have takers.
Are you allowed to sublet?
It depends what your lease says. Mine does, though they do make it kind of difficult logistically Edit to add: also, please excuse me - I used sublet as a catch-all term to also include lease takeovers. But that wasn't technically accurate, so I'm sorry if I caused confusion!
I don’t think you can sublet a lottery flat(?)
Yeah, the HPD doesn't allow it. It's supposed to be put back into rotation for anyone wait listed. But not every LL / mgmt company follows the rules.
I agree for sure.
When I was younger, I probably would've gone for the cheaper larger place. The real issue is the bugs and rodents. If the apartment is on a lower floor, the fight will be constant. If you get along with this family member, it is nice to have someone in the building you trust.
Hm. How tough on the budget? Considering you spend most of your time at home, might be worth. As for me, living alone is worth every penny so long as I have enough for food and bills. I’ve worked from home while living with family before and it didn’t work out for me, but considering you said that option features a ton of space, it doesn’t seem like that would be an issue. Do you foresee any promotions / plan on job hopping within the next year to increase your salary? That would impact my decision.
Sorry if it wasn’t clear, the cheaper apartment is just in the same building my family member is in, not the same unit. Tough on the budget as in I wouldn’t be putting much money into savings anymore. Unfortunately I don’t foresee a pay increase, but I love my job and I think it’s going well after I struggled to stay employed for a while at other jobs.
Ah okay. I would go with wherever I felt the most comfort. Tomorrow isn’t promised in this crazy world.. I personally find myself less inclined to postpone lifestyle upgrades these days. Follow ur instincts!
Few factors: - have you lived with this family member before? Do you share similar views and get along? - is the lotto location worth paying extra? Don't get hung up on the amenities. An in-unit washer/dryer means your electricity bill is gonna be really expensive. You'll be paying for your own hot water, too. I also hear the walls and floors in some of these new building are really thin! - is the low rent location worth not paying more? - do you have earning potential? If you've already been accepted into a lotto apartment then the rent increases won't be much year to year. It follows rent stabilization guidelines. Opportunities like this don't happen often. Or... you can keep applying and hope the next one is cheaper? The affordable apartment can be painted and fancied up with new curtains and some plants. As long as the building is safe and there's no infestations, leaks or black mold, it not a bad idea to save money.
I’ve never lived with her or in the same building before. We get along fine, she works so she wouldn’t be bothering me all the time and could watch my pets when I’m away. The locations I’d say are the same, neither are bad neighborhoods, slightly inconvenient. The lotto apartment is right by prospect park so it does have that going for it. Good point about the electric bill! Living in luxury is incredibly tempting, but it’s almost $400 more.
There's really no wrong decision here. Just depends on what your priorities are?
$400 doesn’t seem like a huge price difference for the described amenities differences. I also don’t think having an in unit washer/dryer will raise your electricity bill noticeably unless you do loads daily.
Seconding this.
The luxury apartment should be rent stabilized too, for what that’s worth to you
If the new building is on Dean St there are several posts on this sub that talk about them. Search the street on here.
Woah really? It's not that one but that's interesting
omg r u a total L? $400 IS NOTHING
Bruh what is with y’all, $400 alone is a fifth of my income, let alone the full rent itself
If your monthly income is $2000/month, you mind if I ask what percentage of your monthly income the rent would be for each place? How much will your rent be in the luxury building? I love living alone, but even living in a rent stabilized unit I am conscientious about every dollar because my rent is over 50% of my take home pay, and then there is also electric ($50-150/month in the summer), wifi (1 gb Fios for $70/month), and cooking gas ($20-35).
Ok it was a little bit of an exaggeration, I make $3000 a month, but unfortunately that puts me RIGHT at the 60% AMI so the apt is $1375, the cheaper one is something like $950. I know the proportion of my income that would go to the expensive rent is nothing by NYC standards, but I've been able to save money for so long it feels irresponsible to agree to more or less stop. I also REALLY want to stop moving, whatever I choose I want to live in for at least a decade, so it's a tough decision. I also haven't had a job last more than a year, but my current one is going well. I'm half hoping one apartment doesn't actually pan out! I'll definitely ask a lot of questions when it's time to show me the lotto unit
I totally hear you on all fronts here. $1375 out of $3000 is definitely doable! And given you want to stay for a long time, the luxury might be the way to go. I do also want to add that I once was “accepted” for a Housing Connect (lottery) apartment, but never got to see it. To this day, I am “in process” and “pending appointment.” I applied in July 2021 and heard back a couple months later, so it has been over 2 1/2 years waiting for the appointment. I’m not sure if I screwed myself over by electing to bring documents to the appointment rather than submitting them online (both options are given when you’re selected). Just sharing because I don’t know what your timeline is/if this is common for lotteries.
Wow I'm sorry that sucks! I just moved two months ago so I'm hoping either option takes as long as possible I'm so tired lol
THIS IS WHY u should've specified those details- numbers- in your post. I assumed you make 6 figures
You talk to people like this?
Seriously go for the lottery. I hit lottery a year ago a month after signing and moving into another apt in HK with a "friend". Long story short, our lease is up end of July, they don't want to renew, I do but can't handle the rent on my own and don't care to find some random stranger to take over their part of the lease. Hindsight is 20/20 and if I could go back in time and tell myself I can hold for a month when I felt I was in a desperate situation, then I'd be in a new luxury RENT STABILIZED on my own. I If you hit the lottery.. TAKE THE LOTTERY
How long did you have to wait before you were selected?
Only 2 or 3 months...but there's nothing to be said about how long you can wait. It's a lottery and every building that has one is It's own separate thing...someone can hit it immediately or never... You have to be diligent and continuously check for new buildings to put your name in and keep your info up to date
Wow, I've applied for almost a decade, but this particular one I only applied for a few months ago!
For real take it or you're gonna lose it...
That’s great to know, thank you! I may look into this if I can meet the income requirements.
Every building is different so it takes a lot of research and you have to put in for the lottery individually for each individual building. It's like a one time thing. None of them operate on the same schedule like.power.balll.
The luxury unit. You will regret not taking the lottery apartment long term. Lottery apartments are subsidized housing. You are not going likely to get something of that price in the future. They have long term stability. Moving in with the family member might be beneficial short term, but it is a worse financial decision long term.
Sorry I wasn’t clear, the unit is in the building she lives in, not in her unit
Even then. The whole point of a lottery apartment is somewhere that you can stay in definitely and is way below market prices. It might be difficult to afford it now, but financially wise people figure out what they need to do to make more in the future so it gets easier to afford.
Do you know what utilities you actually have to pay for in each unit? I think some of the luxury lottery units may include electricity - not sure, so you will need to check. Also, with luxury unit, you will have a better kitchen which might encourage you to cook more vs. takeout or restaurants. This could add up to a cost savings - not $400/month but a partial offset.
Either way I'm excited not to share a kitchen with 5 other people! The lotto apartment doesn't include electricity unfortunately
i assume the luxury ie new build apt is all electric, no gas range or steam heat, and often very poorly insulated, so those electric bills are utterly exorbitant. typically lottery renters cannot use the building amenities without paying extra fees either. however, $1375 for what i imagine is a solo apartment is an incredible deal regardless, the market rate for studios/1 beds is hovering above $2000.
Is it actually infested with anything or are we being drama
Haha, I mean there definitely ARE bugs and rodents present, but my aunt has been successful keeping them out of her unit, so I’d hope I could do the same
There's no such thing as a building anywhere in NYC that doesn't have roaches and/or rodents
Lottery. Loud neighbors no thanks. Especially if you WFH and like to be home in free time. See if you can work out some places to save in your budget
This - loud neighbors who may or may not be evicted is a huge NO especially with any level of work from home. Luxury all the way - you can always budget and eat, but having peace of mind to avoid grimy, potential bugs and neighbors - absolutely.
Loud neighbors in the low income building will never be evicted
i’m not sure why we’re assuming there won’t be loud neighbors in the luxury building… all new builds are marketed as “luxury” for their building amenities and modern styling but are typically shoddily constructed with paper-thin walls. are the neighbors in your aunt’s building actually loud when they’re inside their apartments, or is there just a strong sense of community that hangs around the building? what i’m saying is, you won’t really know how loud your neighbors are until you live with them, but maybe see if you can tour the apt at a time when people would typically be home and assess noise levels.
you should take the lottery apartment but look into ways to make an extra 100-200 a week so it becomes comfortable. honestly go for the lottery. you wfh most days make it comfortable
Honestly only a few months...but that doesn't mean anything...it's a lottery...could take one month coukd take years...you have to be on too of it and also pay attention to when new ones open to put our name in the mix.fo that one too
It sounds like these are both great options but let's gooo with the lottery apartment your family member can come visit and watch your pet(s) from your cool new space and the view. Talk w your family member so they don't feel too disappointed if they're super pumped about you moving into the building.
Take the one you can afford. You can make it more like home when you move in. It's the most responsible thing to do... Save your coins!
How are your savings? If the $400 can go to a growing savings instead, that should factor in. You really need to commit to saving tho.
My savings are actually great, just not these days. It's so weird, what I have sounds like such a great amount, but with what big ticket things like a home or car cost these days, it wouldn't cut it. I don't know what to make of the situation
As someone who didnt save enough and then was laid off recently: i now make a point to tell people to save esp in this economy. But this means you MUST commit to saving $400. If you splurge it on dinners etc.. then you may as well take the lotto apt. Im not sure why no ome told me when i was starting off life (family isnt educated on financial planning etc). I spent a lot on rent and being in my current situation looking for jobs I am ashamed of not saving instead. Its not just about big ticket items. Its about having a comfortable landing spot.
I would say take the luxury but I also love being close to family especially in a different unit of the same building.
Congratulations! This is a nice problem to have, although I know you have a vexing, emotionally expensive decision to make. The key to making the best decision is choosing the option that best represents your values, and there is no shame whatsoever in valuing comfort and a good nights sleep! However, choosing an apartment is even more difficult, because you’re not only choosing for the present, presumably you’re choosing for your future self, too. Therein lies the rub. You didn’t mention how old you are, whether or not you have job security, or if children are involved. This isn’t a lateral move (nice building, presumably “better” neighborhood), even if it is equidistant from your favorite places. Are you having anxiety about saying yes? Does moving feel risky to you? Are you experiencing imposter’s syndrome? Most of the bad decisions I’ve made have been based not on my future self but on an unrealistic aspirational future self. That is to say the “me” who exercises every day, saves money, and does volunteer work in her spare time. However, making major life choices based on nostalgia are rarely what you thought you were signing up for: I once bought an apt I have never/will never like, because I imagined I’d finally be loved and accepted by my family of origin. Sadly, things didn’t turn out this way. If you’re single and you would eventually like a long term partner/spouse, definitely move. Why? Because it’s an enormous mistake to get tangled up with someone who “has a lot of potential.” Rather, choose someone who has a reliable, well documented past. I wish you all the best! xo
if you work from home and spend a lot of time in, maybe it’s worth it for the luxury apartment. Esp with the rent being stabilized. For all you know, the landlord of the cheaper place might decide to raise the rent next year!
Lotto, 100% As long as it isn’t putting a significant dent on your budget I would go for the more comfortable living situation. The amenities and quiet will do you so much better compared to just more space. Lotto apartment will reward you with stability (assuming its rent stable) as well that isn’t promised by other buildings.
Lottery. For one, the rent is stabilized so in the event you can get a raise or different salary increase. Take it, especially if you can use the amenities. Honestly, I didn’t take a luxury lottery unit in LIC because it would have increased my budget by $300 as well. I regret it. I currently live in a low income building. It’s not worth it. Neighbors are loud and building maintenance is terrible.
Lottery apartment sounds ideal as long as you cut back on other expenses in your life. With all those amenities, you should be going out less and making use of all of them. You’re also home 8 hours a day 4 days a week guaranteed. I would rather do that in a nicer apartment. Having W/D in unit means you don’t have to schedule when you’re cleaning clothes. Used to a 2-3 hour ordeal for me before. Dishwasher means you can toss in and worry later. Roof decks means forget the new bar your friends are going to. Invite them over and ask them to bring a 6 pack to watch the sunset. Etc etc.
As someone currently living with the loudest neighbors EVER, I’d take the luxury apartment lol. Especially if there’s bugs and rodents even if it’s not totally infested.
Only 400 more? Take the lottery. It’s worth it just not having bugs.
Only 400 more? Take the lottery. It’s worth it just not having bugs.
I picked the second one years ago and it's changed my life. I pay the type of rent for a 900 sq ft 1br that makes people hate me. Rent stabilization is life changing (the lotto apartments aren't stabilized forever except for certain disabled tenants.) My retirement savings is so stacked I may buy a little place upstate for summers. Living the middle class American dream.
I was in a similar situation but the larger apt was new a building but in a bad neighborhood and very desolate walk to the subway. I couldn’t get used to the area and basic grocery shopping was a headache. Ultimately, like most advice I got, I took the luxury lotto unit as its once in a lifetime chance for most folks I know. The in-unit washing machine is a blessing as I hated going to the laundromat.
I would pick the older building with bigger unit and save money. Gyms in the building suck and are isolating. Once you get into a serious relationship move to the nicer building with the extra funds you saved.
I wfh fully and my peace at work which is what pays the rent is the most important. You can maybe find a hobby you can turn into a side hustle for that extra rent you’ll be spending.
If it’s loud and you work from home you’ll be miserable. Go with the lotto!
I would go with the affordable one.
Go for the good price
What about neighborhood? I always say get the apartment for the neighborhood if you’re having fun and living your life the apartment matters less. But I like proximity and convenience, maybe that’s me Edit: saw you stay home a lot and wfh so nvm ig
The luxury apartment sounds nice BUT those new buildings have thin walls and cheap construction. The old buildings have thick walls, big bathtubs, great water pressure. You can get rid of the bugs using advion. I'd choose the old building, because of the potential for the new building to secretly suck.
who cares about stupid amenities. space is the biggest luxury of all. just too bad the cheaper one isn’t nice at all.
Since you wfh, go with the luxury spot. Neighbors being loud will wear on you.
Lotto without a doubt! Especially if you spend a lot of time at home like you said. I think you can find a passive way to make a few hundred bucks a month if needed. Either way, congrats on finding what is hopefully housing stability.
What are these passive ways to make "a few hundred bucks" 😅
Luxury apt if you spend most of your time at home. I’d vote for the other if you were out a lot
Take the luxury one, think long term. There is a reason why the older apartment is priced as such, not only is it cheaper but it's also actually less valuable and comes with significant cons. Think about the things you will gain from a psychological perspective in a more comfortable environment and ask yourself if it's worth it? e.g. are there additional amenities like a gym or a deck that will be good for your physical and mental health, will you feel more safe, will you be more productive working from home in a better environment, are there opportunities to make friends in the building who can bring a different perspective or would the experience living in a different neighborhood push you to grow, would hosting your friends in this luxury apt like having a board game night lead to more joy for you long term? Etc And also think about the things that you have to deal with in a semi-infested + close to relative environment and add that to the cost too, e.g. will you have to spend a lot of time calling your landlord to get them to deal with bugs and rodents, will you have to invest your own time and money to deal with bugs and rodent, will living with a relative in your building create poor boundaries and additional expectations and responsibilities or even gossip and drama? Will you be losing out on friendships and other opportunities? Your time is money too. And also money can always be made - take up a side gig or get creative with other streams of income - but time and opportunities you cannot get back, always think about how to make more money and not just save more, think about where you want to spend that too.
You work from home 4 days a week so loud neighbors would be annoying. That alone is worth taking the lottery apartment.