Shared Room Roommates in NYC
Hey guys,
I've lived in shared-room apartments all throughout college and was curious if people did that out in NYC to still save on costs. I'm a junior now heading out for a SA stint this coming summer and hopefully full time the year after. I've been thinking about if it would be possible to buy an apt/condo out there and rent it out to friends/other people, but it seems like the only way the numbers would work is if people are sharing rooms.
Thanks!
Unless you are buying all-cash, the math simply doesn't work on this with current mortgage rates.
Also most condo/co-op boards will not let you have a ton of people living there. One roommate, maaaybe two - but no way is a board going to accept 5 people unless you're all a family unit or if you have like a 3+ bedroom apt. These buildings do not want to be share houses.
You could potentially do this in a rental building - a lot of people flex a large 1 bedroom into 2 small bedrooms. I also see 4 bedroom, 1 bathroom type places with very small bedrooms which are pretty affordable. But I think you'll be hard-pressed to find people willing to share a bedroom post-grad.
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