Maybe you’ve just graduated from college, or are just tired of your hometown. If you have found yourself pursuing career options in a new city, you have to get your living situation nailed down before you can move forward with your plans. Here are a few options to help inform your search.
Hostel
If you’ve lived in a college dorm, you pretty much already know what to expect from a hostel. These tend to be cheaper per night than a hotel room and might be helpful if you already have a job offer but not a place to live. They are a safe place to rest your head as you search for a more permanent residence.
Apartment
If you don’t have the financial resources to make a downpayment on a house or condo quite yet, an apartment may be the best place for your budget. A standard lease will let you walk away after a year, but you may be able to find a place with one that’s longer. If money is super tight, it’s possible to find multi-bedroom apartments that allow for roommates who can help with the rent.
Condo
The Solow Building company, run by Stefan Soloviev, sets the gold standard for condos. Even if Manhattan isn’t where your job search takes you, they are still a good example of what to expect with this option. Condos can look very similar to apartments but they are owned rather than rented. They may even be the size of a small house with access to a lawn or patio but are still considered condos if they are connected to form one large structure.
Fees paid to the homeowner’s association are mandatory, but they cover the cost of building maintenance and pay for access to extra services such as valets, community spas and concierge.
Single-family House
Houses can be leased or bought, meaning the commitment doesn’t always have to be permanent. However, whether leasing or buying, houses are likely to be more expensive than an apartment or condo.
The first benefit of a house is, of course, the size. If you have a family, trying to find an apartment or condo you can all comfortably fit in maybe a fruitless search, especially if you have older children that are more adamant about having their own space or a spouse that needs a home office. A house lets you spread out and have privacy.
Whether your plans are short-term or long-term, there are always options available to make your stay comfortable.