Studio in UES vs. 2 Bed in Queens

this was pushed back quite a bit..!

2 people in 400 sq ft = problems. there isn't enough storage, no way of getting away from each other if having one of those days. if schedules are adjusted, both have to adjust. being in manhattan will be significantly more expensive way of life, from groceries to everything else.

2 people in 800 sq ft in Queens = problems. when you want to go out, you have to take the train or a cab. travel to work could take longer than UES, depending on where you work.

when you are considering a purchase of a coop, you can forget about a roomate. coops frown on that. given that it will cost you less to live there than in manhattan, create an office area or spare bedroom for visiting family.

the last point. if you get married and decide to have kids, you'll be running out of that studio like mad people.

I don't care if the 400 square feet is fully usable, that is small space for 2 people.

I would rent a 1-BR in Astoria or Sunnyside, or equally affordable neighborhood not far from Midtown, and save more money to buy something larger when you need more space.

I would buy in LIC. Value would have more potential of going up.

There's not much (if anything) in LIC that costs $250k (the original poster's max price range). Studios in LIC start at $400k for about 500 square feet.

Sorry missed that key fact. LIC is the middle ground between UES and woodside/jackson height though if you can afford it. Keep in mind many LIC condos are FHA approved...so if the downpayment is the problem...

thanks for all your comments! I think the rush for us to get a place instead of renting and saving is because of the potential in the UES (specifically Yorkville) for profit. Is that worth sucking it up and getting a small studio for?

NEVER NEVER NEVER *buy* a studio.

You RENT a studio.

You BUY a one, two, or more bedroom apartment.

And trust me, there will be no "renting out" that second bedroom. People always have such unrealistic ideas of how much space they really need. Unless that 2nd bedroom in Queens comes with its own bath, that would not be a viable setup ... roommate setting sharing a bath with a couple.

CSK, do you plan to have children? That's the biggest question. If you're in 400 SF -- as my fiance and I are -- it's no problem when it's just the two of you, but as your kid starts getting bigger, it might become harder. But for now? Go for it; living in that square footage is no problem. Put up a partition somewhere so that if one of you is sleeping and the other one is up, nobody's being disturbed.

My neighbors next door, also in 400 square feet, have a 7-year-old daughter and they're talking about moving if they have a second child. Somehow my neighbors across the hall are raising _two_ teenage daughters in 400 square feet! If the kids were of different genders I think it would be completely impossible.

Re: NEVER NEVER NEVER *buy* a studio.

Matt, not even those of us who bought them for next to nothing over 10-15 years ago and have more than tripled our investments?

Triple_Zero thanks for your perspective! Yea, I think kids are 5 or more years down the road and wow if a family with a child can live in that space, I'm guessing we can too.

"Matt, not even those of us who bought them for next to nothing over 10-15 years ago and have more than tripled our investments?"

Well if you can find a studio "for next to nothing" in Manhattan, go for it.

Otherwise your comment makes no sense.

csk, please keep in mind that Triple_0 is taking about Japan. in NY, things are a lot different.

This is considered an acceptable "hotel" room in Japan
http://www.foxnews.com/travel/2012/10/30/too-big-for-his-bed-squeezing-into-capsule-hotel-in-tokyo-can-make-man-feel/

OK, just to clarify:

csk-
Whole Foods won't drive up the value of your place jack shit. That is broker-talk. The 2nd Ave subway, on the other hand, and the neighborhood changing in general will. Wait a decade for this to settle in.

ab_11218 and csk-
Co-ops can "frown on" whatever they want. But this does not change the fact (and NYS law) that allows someone to have a roommate in an apartment in NYC. This is a perfectly fine thing to do.

No Matt, you made a statement -- NEVER buy a studio. A statement that in fact makes no sense. Anyone with half a brain knows that you should buy anything AT THE RIGHT PRICE. If prime Manhattan studios went on sale tomorrow for $100,000 then of course you should buy them.

On the other hand, a broad statement that you could make is "NEVER NEVER NEVER Buy in Washington Heights", cuz it's so far away, it's like living in Yonkers.

I am with whomever said rent first if you are new, THEN look to buy.

If you rent a studio in Manhattan, you will quickly learn that two people cannot possibly live in a studio without learning to hate each other.

You are trying to find a place to live with your new wife. This is not a time to focus on the potential value increase. While it is possible to live in such a small space, it is more probable that you'll end up divorced in 2 years because you are living on top of each other. I have lived in couple situation in several small spaces and this is way too small. For me you need at least 600, well laid out, sq ft and a separate bedroom at minimum, with separate storage.

Seems that you are trying to buy too early. Do yourself a favor and rent for at least a year and figure out what you both need in terms of space to be happy.

You would rent out a 2nd room in queens to a 3rd person? Like that ever works out...

Are you sure you can buy a decent 2 br in those areas in queens for that price without getting beat up at night? You may want to check out the hood at night before you commit to the apartment. Not all parts of those areas are safe.