10th Year Resident

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This year marks my 10th year in Hoboken.

As many of you may have learned, no matter how many years a person lives in Hoboken will they ever really be considered a Hobokenite. The "BnR" (Born and Raised) residents have a tendancy to look down upon the new blood that moves into this town. Of course once their families were new here, unless we have some Lenni Lenape Indian residents who can pick on the BnR's.

I'm at a point right now where I am unsure what I want to do.

My roommate, John, is moving out soon to move in with his parents and help them during his father's illness. I'm starting to think, once again, of my options. I can...

-Stay at current apartment and get a new roommate.
-Move out and rent an apartment in Hoboken
-Move out and rent an apartment in NYC
-Move out and buy an apartment

Each has its pro's and con's.

Current Apartment
(Pro) I love my apartment, it has everything I need. Great location, all the amenities, great room, mostly quiet location.
(Pro) Cost of living is extremely reduced, leaves a ton of more money to save (or, in my case - spend).
(Pro) Its nice to have roommates, because you form some nice friendships with some of them.
(Con) It gets old finding new roommates & having to deal with the crazy or annoying ones (Hi Jen!).
(Con) Plus at 32, i'm kind of jonesing to live by myself. At a certain time in your life its hard to say to your nieces and nephews that Uncle Furey has roommates.

Moving to One Bedroom in Hoboken
(Pro) You only have to worry about yourself.
(Pro) No annoying roommates or their "special others".
(Pro) Much more freedom to do whatever you want whenever you want.
(Con) Any half-way decent one-bedroom costs at least $1500-1900 in Hoboken, if not more. That is nearly double my rent now.
(Con) Rental Fees - i'll be paying a more expensive deposit and a fee i'll pay to have some schmoe show me an apartment - that could be about $3,000 out the window. Hmmm, stay at current apartment and use that money to go to Vegas or use the same money to get a 1-bedroom....
(Con) Pay more money for a expensive rental - less money for myself.

Moving to One Bedroom in NYC
(Pro) Something different & exciting. Nice little jumpstart to the day-to-day.
(Pro) If location is chosen well - shorter commute to office will be nice. Save a bit of money on PATH cards.
(Pro) Can finally make fun of Bridge and Tunnel folk.
(Con) Same stuff I mentioned before about the rental fees & the cost of living increase.
(Con) If I want a nice 1 bedroom - at least 2k a month - we are getting near what i'd pay on a mortgage. May have to get a roommate.
(Con) Moving sucks, packing & unpacking is dreadful. I despise it.

Buying a Condo
(Pro) Home ownership! The American Dream!
(Pro) The best investment ever!
(Pro) You get to live on your own. Same as above.
(Con) Much more expensive. Ballpark cost will be $2300-2800 a month for a 1 bedroom $350,000 condo.
(Con) Hoboken, sadly, has gotten to the point where any new construction is on the fringes of town. Existing townhomes are being renovated in the center of town and marked up. So now, my walk to the PATH every morning will double.
(Con) Housing market is white hot. For years I have kept sitting on the sidelines thinking that the cyclical nature of the real estate market could turn down. I have been wrong on that prediction - but I still fear its only a matter of time until the housing market collapses (or corrects). My luck it will be the day after I close.
(Con) So unmotivated to go out and look at condos. Its a huge process, and I have zero interest to look at crap.

My thoughts are that i'd like to save money over the next 2-5 years, see if the market cools down and then move. Just not sure if i'd like to stay where I am, or move out and get my own place. Or get out now while I can - who knows, maybe in 5 years Hoboken will be so expensive that the $350,000 condos cost $700,000 and I will be forced to move out of town.

Also another "pro-and-con" that was hard to list was that after 10 years I have made a lot of friends in town. I know a lot of people, from shop owners, to bar owners, to business owners - I get a lot of benefits that I would not get if I moved to NYC or Jersey City.

New Years Eve, for example. At a bar where I am good friends with the bartenders. I was with 3 of my friends - total tab was extremely generous. So was our tip.

That kind of stuff - getting those kind of relationships - in NYC will take a long time. Plus, I have to go out, get a new regular pub, meet a bunch of new people and make some new Best Friends Forever (BFF). Fun at 25 - Possible at 28...

At 32 - kind of thinking i'd rather move into NYC if I had a steady girlfriend.

Ok, stop laughing.

No, really. Stop.

My "dream scenario" would be:

Jennifer Garner and I get married and move to Las Vegas for a few years, to party it up and then settle down in near Napa Valley, California to open a vineyard.

My "semi-realistic dream scenario" would be:

Meet a great girl who after dating for 2 years is interested in moving in together. Agree to move into NYC, find a cool pad to rent for 2-3 years. If things work out (read: she is to be Mrs. Furey), we had our last hurrah in the city, and move out to the suburbs to have a few kids and do the domestic thing.

Its a new, fresh year. Hey - only a month ago my friend Chenielle (Joe - help me out with the spelling there), who is one of those chicks that are very much into tarot and the supernatural came up to me and claimed that I was going to meet someone special in 3 months.

I was hoping that someone special would be a lottery ticket. But who knows. Stay tuned.


Furey, you started out so well and just had to turn it into a personal ad at the end?! What's up w/ that? (j/k) :D Anyways, even though it's been a while since I posted on Hobokeni, I've been dropping by from time to time to read up on the latest happenings. Your blog makes an interesting read. Very candid and witty. Keep up the good work! :) Oh and by the way, I'd say stick with your apt for now, until the market cools down a bit and then weigh your options again. Just my 2 cents...

Spelling on Chenielle looks good to me.

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This page contains a single entry by Furey published on January 4, 2005 12:03 PM.

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