Yeah, it is unarguably one of the most uphill tasks when moving into Ney York City. Finding an apartment for rent in NYC is not only difficult, it can also blow a big hole in your pocket.
As of November 2016, average apartment rent within the city of of New York, NY is $3111. One bedroom apartments in New York rent for $2747 a month on average and two bedroom apartment rents average $3522.
Save Rent For Luxury Villa Back Home
Though apartment rentals is high in NYC or in one of the 5 boroughs, experts say there are neighbourhoods that offer excellent deals. And with new construction happening around NYC, saving on rent might not be a bad idea if you could make use of the well connected public transportation system.
For Indians moving to NYC, saving on rent could be a added advantage to invest in a luxury villa back home.
Case Of Increasing Rental Trends In NYC
The average apartment rentals in NYC has been continuously rising. So as your family grows, your expenditure in rentals is going to increase year – on – year. Does that not make enough reason to try to save some percentage on rentals and plough back into an Home Loan EMI back in India? Here are 5 reasons why you should consider this option, if feasible to you.
- Investment in real estate assets is known to generate good returns over a period of time.
- Plus you can rent out your property that takes out some part of your home loan.
- With rising cost of real estate in India, an investment early in life can be a huge benefit by the time you retire in 20 to 30 years time.
- Additionally, investment in a villa property can form a very handsome part of your overall portfolio. It is also spreading your risk and having a balanced investment portfolio.
- Investment in an independent real estate property in India does not take a lot of money when compared to the rental in NYC or one of its boroughs.
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