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> No, it does not. Yes, it does. Let's take NYC as an example. At median rents for a one bedroom apartment, living in Queens instead of Manhattan saves approx
by zhdc1 5y ago
> No, it does not.
Yes, it does.
Let's take NYC as an example. At median rents for a one bedroom apartment, living in Queens instead of Manhattan saves approximately 1K USD a month, which equates to 60K USD over five years.
Going with an annual Metro card costs 1.5K USD, while a loan payment on a BWM 3 series costs approximately 7.4K USD. Over five years, the Metro card saves 29.5K USD. This is before you factor in parking, insurance, taxes, and fuel.
Together, living in a slightly cheaper, but still expensive area and using public transportation saves you 90K USD over five years.
You can eat a lot of overpriced food for 90K.
- notyourday 5y agoBawwawahahahaha. There are no one bedroom apartments in Queens that are $1K USD a month that exist where the apartments reachable by the public transportation from Union Sq for under 2.5 hours one way when everything is running ( so most often ~ 3 hours ) . So that's basically living in Poconos. To get there for 1.5 hours one would have to buy a car and pay for insurance and find parking by the subway. Dave Ramsey who peddles FIRE is a charlatan who makes money not of following his advice but of selling his advice to his followers.
- zhdc1 5y ago> There are no one bedroom apartments in Queens that are $1K USD a month The median rent for a one bedroom apartment in Queens is 1K USD - less - than a similar apartment in Manhattan
- notyourday 5y agoIt is not. There are no 1 bedroom apartments in Queens that are not 2.5 hours away from midtown Manhattan that are $1k/mo that can be rented.
- zhdc1 5y agoIf the average one bedroom apartment in Manhattan costs 3.5K USD a month, and the average one bedroom apartment in Queens costs 2.5K USD a month, the average one bedroom apartment in Queens costs 1K USD - less - than the average one bedroom apartment in Manhattan. You can - save - 1K USD a month by living in Queens instead of Manhattan.