The news has been all abuzz with sensationalist headlines about how people are leaving NYC “in droves”. What do those headlines miss? People are still moving to NYC in 2020. And for many of them, the timing seems like it couldn’t be better. So if you’re considering moving to NYC in 2020, here are ten reasons why that might be a great idea.
New York is resilient. So are New Yorkers.
The city was certainly hit hard in early 2020, but businesses and residents have been resilient and creative. After all, even after 9/11 back in 2001, the city’s residents banded together and the city rebounded stronger than ever. With a strong sense of pride and community identity, New York has become more than just the “City That Never Sleeps”. While some cities in the U.S. have a “thing” that they are known for, nothing quite compares to New York.
After all — they say that everyone should live in New York at least once. Otherwise? You just haven’t quite lived. Let us help you choose the right moving company to get you to the city!
Now is the time to buy real estate.
Real estate purchases are down in a big way: the research firm GS Data Services reported that between April 1 and June 30, buyers signed 696 contracts in Manhattan. That represents a 78 percent drop from the same time period in 2019 when there were 3,229 signings. Prices have also seen a drop of about 13% according to the same data firm. What does that mean for you?
Options. Lots of options. You might be able to move into your dream neighborhood or find a place with a gorgeous balcony and a view. Those newly-built lofts are desperate to fill vacancies, so no more waitlists in your future! All in all, someone else’s loss is your gain when it comes to moving to NYC in 2020. It’s a buyer’s market.
The real estate in the suburbs has gotten competitive.
If you’re still waffling between shopping for New York real estate in the suburbs or heading into the heart of the city, you might also consider how long you’re willing to wait. The market in areas around NYC has gotten downright crazy. Available stock in the Hamptons, Greenwich, CT, and Westchester was already quite limited, and now even more so. As result home prices are skyrocketing. So if it’s New York you want, and you’d prefer not to spend months waiting for the right house to come on the market, take advantage of everything that’s available within the city. Whether you’re moving to New York from California or just over the border in New Jersey, there’s something for you.
The city energy is still here.
There is city folk and there is country folk. If you know you thrive on the buzz of population density, art, and culture, it is still alive. Granted, it looks a little different at the moment. But imagine walking the streets of your new neighborhood and hearing a live musician playing in the park, seeing the unique buildings and decor, and grabbing take-out from a top-notch restaurant on your way home from work. You just can’t get that same flavor anywhere else.
Now is the time to buy real estate.
Real estate purchases are down in a big way: the research firm GS Data Services reported that between April 1 and June 30, buyers signed 696 contracts in Manhattan. That represents a 78 percent drop from the same time period in 2019 when there were 3,229 signings. Prices have also seen a drop of about 13% according to the same data firm. What does that mean for you?
Options. Lots of options. You might be able to move into your dream neighborhood or find a place with a gorgeous balcony and a view. Those newly-built lofts are desperate to fill vacancies, so no more waitlists in your future! All in all, someone else’s loss is your gain when it comes to moving to NYC in 2020. It’s a buyer’s market.
Not all jobs are remote (and there will still be commutes).
Although a lot of companies have gone to some sort of remote working configuration, many companies can’t or are slowly bringing employees back into the office. That means still commuting into the city, at least a few days a week. Living within the city makes the trip shorter and easier whether you’re taking a taxi, public transit, or driving yourself. No long rides on the commuter train or LIR for you! Whether you’re planning for the immediate commuting future or thinking long-term, make it easier on yourself.
Bonus: with all of the available real estate, you might even find a new home that allows you to walk to work!
You can be a part of New York’s evolution.
There’s no question that there will be changes ahead. A lot remains to be seen as city residents and businesses find the way through the rest of 2020 and beyond. But one thing is certain: New York will persevere and find a new, creative way forward. With an influx of new people moving to the city, new perspectives abound. New ideas will come forward and the city will grow ever stronger. Now isn’t that something you want to be a part of? Let us help you with moving to NYC in 2020. We’ll be glad to welcome you to the city.