Today I signed a lease on an apartment! I'll be living with my brother in a walk up apartment in Manhattan starting next week. This is the first time I've committed to living in a place for more than a month since college. It's a big move in my life, and I have some thoughts:
1. I'm Very Relieved
Our slip at the marina ends at the end of October. It's a huge relief to know that come the first of November I'll have a place to sleep, and won't have to go through the hassle and expense of stringing together sublets like I have in the past. Finding an apartment is also extremely exhausting, and more than anything I'm glad to have this behind me so that I can focus on more important matters.
2. We Got A Good Deal
We got a pretty good deal on the apartment, which definitely brings a smile to my face. Granted, this is a good deal for New York City, so it's still a lot of money. But considering I'm a 10 minute walk from work, in a good neighborhood, with my own bedroom, and am paying less than I am living on the boat, I'm doing quite well. Plus we rented directly from the landlord, and didn't have to deal with and pay a broker, which I have a moral objection to.
3. I Have Mismatched Financial Obligations
On the one hand I am now financially obligated to pay my landlord for 12 months of rent. Judging from the contract that I just signed (which by the way, was a detailed 6 page legal document sprung on my at the last second) there is no way out of this contract. However, I am, like most people, an at-will employee. This means that my employer is under no financial obligation to pay me in the future. If I were to lose my job, and fall on hard times, I am now financially screwed. Why should landlords have a guarantee of income from tenants, while tenants have no such guarantee from their employers?
4. I Feel Very Restricted
Right now I live on a boat - which can literally sail away on the open ocean and just oozes with freedom - and pay month-to-month. The iron clad lease I just signed includes an insane $5000 fine for subletting, on top of paying the landlord's legal fees for suing me for illegally subletting. I have to think there is an amicable way out of it, but on the face of it, it seems that I am now tied to this apartment for the next year. That means that no matter what in my life changes (my company moves, I get laid off, I get to work remotely and move to a different city, etc) I have to pay rent to this apartment. This feeling of being restricted is already weighing on me, as I like to keep possibilities open, and be flexible for an ever changing world.
5. There Are A Lot Of Unknowns
I actually haven't even seen the apartment yet. I haven't taken measurements, seen the inside of the building, or met the neighbors. Luckily my brother did this, and I trust his judgement, but because I haven't actually seen the place I don't know what it will really be like. I'm sure there will be strange noises, funky smells, and bizarre people - but that comes with living in New York City. My mind is racing with all the ways in which bad things could pop up that would make life miserable in this apartment for an entire year.
6. I'm Becoming (More Of) An Adult
I'm now renting an apartment, with a long term commitment, and didn't even need a guarantor to secure the place. This represents a real move towards adulthood in my life. However, most of my friends have been signing leases for years, and are even moving into their own apartment, or in some cases buying a house or condo. It's difficult and not really productive to play the comparison game, but signing my first lease at 29 means I'm probably progressing through life a bit slower than my peers.