Moving during the winter can seem like a terrible idea because of the cold temperatures and cloudy days that last for weeks. However, there are actually some great reasons to consider moving to New York City in the winter.
Reasons to Consider Winter to Move in NYC
Less Competition
One important factor in the real estate market, especially in New York, is consistency. The busiest time for rentals is the late spring season, which usually lasts from April to September. During these months, there is a high demand in the market. People who graduate late hope to rent in May. Young professionals with summer internships or new jobs sign leases in June and July. College students return for school in August and September.
Reduced Rental Prices
Is it cheaper to move during the winter? Yes, generally speaking. During the winter season, condos are generally available for a longer period of time in the market. This leads property owners and management organizations to lower their prices in order to attract tenants.
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For example, in April or the late spring season, the rental costs for one room reach up to $2,900 and for two rooms it goes up to $3,500. However, during the winter season, the price for one room decreases to $2,750, and the price for two rooms decreases to $3,190.
Rewards or benefits
Landlords and management organizations often offer additional incentives to encourage tenants to move in the winter, due to lower lease costs. It is common for landlords to give one to two months of rent for free when you sign a lease. They may also waive or reduce application fees, provide a free year of amenities, or give out gift cards. There are no specific rules or guidelines for motivating factors. It is important to be aware of these things when looking for an apartment.
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Reduced charges for using a broker
In the New York City rental market, a broker’s fee is a new concept. It’s a cost that is paid by either the person who owns the land or the person who is leasing it. This cost goes directly to the real estate agent who was responsible for finding a tenant for the property. In many transactions, especially during the late spring, it is usually the tenant who pays the agent’s fee.
Ability to Bargain
Empty apartments during the off-season are a landlord’s worst nightmare. Property owners are willing to do anything to ensure tenancy, including negotiating the terms and conditions of the rent, because they lose money every day the condo stays empty. If you are a leaseholder, you have an advantage during the winter and it is definitely worth trying to negotiate a lower lease.
Scheduling
Making a move will not be necessary during the winter. You’ll have less competition when trying to hire a moving company or reserve an elevator at your new building. Additionally, once you have moved in, you can quickly start making your home feel cozy.
Conclusion
Winter is a great time to move to New York City due to its lower competition, reduced rental prices, and incentives from landlords and management organizations. The late spring season is the busiest time for rentals, and winter offers longer availability of condos, reduced broker fees, and an advantage in bargaining. Additionally, winter allows for less competition in moving companies and scheduling, allowing residents to quickly make their homes feel cozy.
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