Our lease is up next year and as that time gets closer, I think, what’s next? The rent is likely going to increase (as it did last year) and at the price we would be paying, we tend to think buying is the next sensible step.
It’s pretty clear to us that we’re not leaving New York any time soon. We both grew up here. Bob’s family and friends are here. My family and friends are here. Our jobs are here. Not to mention that we both love this city. It’s our home and so we will stay. Worst case scenario, we’d move to northern New Jersey (?) which is thankfully still an easy commute to Manhattan.
But I don’t want to leave Astoria. Two years ago, we moved to this neighborhood and I immediately fell in love with its diversity, energy, culture, parks, proximity to Manhattan, abundance of restaurants and so so much more. Both of us saw a long-term commitment to this place. But from the property listings I’ve seen over the past few weeks, I’m not sure we’re able to afford Astoria. That thought crushes me more than you know.
I feel very torn. I want more time here, but buying our own place makes so much more sense. If we can’t find an affordable home in Astoria (or nearby), do we venture out deeper into Queens or Brooklyn where the prices are a little lower, but the commute is awful? For the record, I’m not a fan of the idea, but I’m not completely ruling it out either. Or do we look in northern New Jersey where we can get two-bedroom for the same price as a one-bedroom in New York? The commute wouldn’t be terrible, but we risk being in an area where a car is absolutely needed to get around and that’s another expense I can’t add.
For the time being, I’m keeping my options open and searching all areas for good deals. But who knows? We may end up renewing our lease or looking for another apartment in Astoria by the end of next year and maybe all this worrying now would have been for nothing. Or not.
So, real estate. Does it make your brain hurt too?