Starting Banking Job this Summer in August in Menlo Park
Hi All! Starting in Menlo Park next year for my banking gig. Was wondering when you should start touring in person to stake out a place. Thinking about living near Redwood City (anywhere between the Airport to Menlo) for under $2.4k (studio/1br).
Thinking about flying out in June to look at apts, but is it better to wait until July for a Aug 1 move-in? Trying to get a sense of when there's the most options because right now the apartments don't seem great?
Navigating the housing market in the Menlo Park area can indeed be tricky, especially with a specific budget and location in mind. Based on insights from the Wall Street Oasis discussions, here's a strategy that could work well for you:
Timing for Apartment Hunting: Starting your search in June for an August move-in is a wise decision. This timeline gives you a cushion to explore various options, negotiate terms, and finalize your lease. The housing market can be quite dynamic, and availability changes frequently. By starting in June, you're likely to catch listings for leases ending in July, which aligns perfectly with your move-in timeline.
Budget Considerations: With a budget of under $2.4k for a studio or 1-bedroom, you're in a relatively good position for areas near Redwood City. However, it's crucial to keep in mind that prices can fluctuate based on demand, exact location, and the amenities offered. Be prepared to act quickly if you find a place that meets your criteria within your budget.
Location Preferences: Focusing on the area between the Airport and Menlo Park, including Redwood City, is strategic for someone working in Menlo Park. These areas offer a balance between proximity to work and access to amenities. Redwood City, in particular, has been mentioned as a viable option for those working in Menlo Park, offering a mix of residential options that could fit your budget.
Apartment Quality: If the current listings don't seem appealing, remember that the market is always updating. New listings can pop up that may better suit your preferences. Utilizing online platforms, reaching out to local real estate agents, and even considering Facebook groups for Bay Area housing can broaden your search and uncover hidden gems.
Additional Tips: Given the competitive nature of the housing market in the Bay Area, prepare your application materials in advance. This includes having your credit report, proof of income, and references ready. Being able to quickly submit a complete application can give you an edge in securing your desired apartment.
In summary, starting your apartment hunt in June for an August move-in is a prudent approach. Keep an eye on the market, be ready to act quickly, and utilize various resources to find your ideal place. The Bay Area housing market can be challenging, but with persistence and preparation, you'll find a great spot that fits your needs and budget.
Sources: Menlo Park Buyside, Housing & Roommates, 2020 San Francisco Summer Housing, Best neighborhoods to live WITH GF in NYC (and timing) - 1st year IB Analyst Midtown Summer 2019, Palo Alto and Menlo Park SA 2021 Housing Thread
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