Moving expense
How much cash do you need to move other then rent? What did you guys spend for furniture and other misc things?
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
depends from where to where....
i wont give you a number because it totally depends on your spending habits but when you are budgeting for furniture and misc and you a budget of X in the end you ll end up spending 2X
Truer words were never spoken (typed)
Can I just say this. I see a lot of posts talking about commuting, cheap apts, cheap furniture and it is killing me. Pay your loans, contribute to your 401k, but don't skimp on simple shit. You are going to be making your working life utterly miserable for 2 years with the hopes of making a lot of money. Last thing you want after a grueling 12+ hour day is a long commute and a shitty futon to sleep on. Find a place close to work, get comfortable furniture and a nice bed and be done with it. If you want to be cheap and move light then just rent nice furniture. When it comes time to move you just have them come pick up their shit and you roll out.
Kinda of on topic, kinda off. I was recently looking for a place after accepting an offer (not in NYC) and I found a nice room in a condo that someone was renting out that is literally across the street from the office I will be working in. So close in fact that it would probably take twice as long to drive to the office then walk. Well, of course my mom was trying to be nice and find me decent places but of course my priorities are different from hers. She was sending me apartments that were cheap and only 10 miles away (that's like an hour in this city's traffic) where I could live by myself instead of having a roommate in the fully furnished all inclusive room I found across the street. I don't start for a couple days but I know that I would probably kill myself if I ever had to sit in rush hour traffic on a daily basis, so I will second Anthony's post.
To each their own, but saving a few dollars and having a longer (significantly) commute isn't a substantial cost in my book. And definetely budget extra for the move.
Regards
Cost of moving to New York (Originally Posted: 08/10/2014)
How much does it cost to get set up in New York? I'm starting as an analyst at a BB in a year, and I'm trying to figure out how much of my signing bonus/internship savings to spend enjoying my last year of school and how much to set aside for next year.
Assuming apt ~1500 / month (cheap side), you need to put first, last, security deposit, and possibly broker fee down. That's 6k right there, then you need to buy some furniture and starter shit, maybe 500? So you're prob going to need about 7k to get started but thats prob on the high side.
That seems right. But I think most BBs give new employees around $10k for moving costs. But yeah, NYC is a huge ripoff.
How much did it cost you to move out? (Originally Posted: 11/22/2012)
I'm not talking about monthly rent, but more so about total cost of moving. Whether that is security deposit, broker fee, travel, furniture, etc. You get the point.
Is $5,000 cash enough to get comfortably settled in a place in Manhattan?
Depends on the place, how many sqft? do you want alot of stuff or just the basics? what do you mean by travel?
Travel costs would depend on where you're coming from, obviously.
Security is at least a month's rent, furniture will depend on what you get, at a bare minimum you need: a bed, box spring and mattress; sofa; table with at least two chairs. Also don't forget the smaller sundry things like a toaster, microwave, coffee maker, cups, mugs, pots and pans, which you may or may not have already.
I'd recommend you take about 10k.
This is probably much more than you would need. But you're in NYC for the first time, so try to bring more than you need. If you've got to borrow money from your parents, just return the unused portion when you get your first paycheck.
I did 5k when I graduated and moved for work... My company paid for the movers though... The 5k got me through the Security Deposit, first month's rent, deposit for electircity (FU@KED UP! it was like $250), and decent furniture for my apartment.
I live in a CHEAP city with low cost of living.. my apartment is between 900-1000 a month
Bigger city, rental agent fees, and paying for movers... I would do 10k
Live with g/f so costs were split BUT regardless my apartment is $2200 650 sqft 1 BR in west village. (don't ask how, we were very lucky, saw the listing 5 minutes after it was posted and signed/paid the same day, and there were still 20 other people trying to get the apartment at the same time)
$3900 for broker fee $2000 for security deposit $2200 for first month's rent $2000 for decent furniture/bed etc. $200 for cable/internet setup $200 for starting food $500 for kitchen stuff $200 for traveling cost (moved some furniture)
Approx $11000 / 2 = $5500 per person approx. Obviously this can be scaled down quite a bit through broker fee, furniture, no cable/internet yet, less kitchen stuff, less traveling cost.
Ending answer: It costs a lot.
good
I agree with you
There's a lot of variance because it depends on how far your moving, how much your rent will be, etc. If you're hiring a moving company, then this article https://threemovers.com/understanding-your-moving-costs/ has some good info. But if you're going it alone, I'd say budget for three times the rent (first, last, & deposit), plus a good chunk for furniture and other household items. But even that last one largely depends on your tastes and what you're willing to spend. The main advice I would have is to budget more than you think you'll need. Costs crop up all the time when you're moving, especially if you're filling out a place with all new furniture. You'll need to get a good amount of food to start, plus odds and ends like tables, lamps, light bulbs, a vacuum, and so on. In other words, take what you've budget to move and double it.
Perspiciatis et deserunt architecto vel. Tempore aliquam dolor accusamus enim quibusdam. Omnis et ipsam laudantium. Labore officiis voluptatum magnam aut earum perspiciatis. Iusto occaecati laborum fuga. Velit dolor odio dolor corporis qui esse dicta.
Voluptas velit cupiditate et. Ducimus est veritatis possimus vero optio ut. Soluta totam illum perferendis et consequatur laborum autem sit. Earum quo sed omnis quia eum et voluptas. Dolorem consequatur numquam rerum asperiores.
Doloremque deserunt ea minus voluptatem. Facere qui ea qui quas. Maiores odio fugiat praesentium quaerat hic eos. Perferendis voluptate dolorem dolorum delectus in blanditiis sit. Et maxime ut accusamus id vero et.
Vel voluptatem labore qui enim aut cupiditate culpa. Pariatur qui laudantium culpa doloribus facere magnam. Nisi facere ea exercitationem at. Repellat repellendus accusantium corrupti aperiam eaque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...