Older adults are retiring to New York. For some, the original impetus is an
urgent request to help raise a grandchild, but the pull of city life keeps them here.
http://www.nytimes.com/2015/10/04/realestate/accidental-new-yorkers-grandparents-relocate.htmlMy
My daughter is only 19 but I would love this scenario!
I already have several friends who have moved to Manhattan after they have retired. None moved to help their kids. It’s a great city to live in. I could see getting a wee pied a terre there after H retires.
I want to have less expenses, not more, when I retire. I have family in NYC, but every time I visit them, I want to get out of there after a few days. The noise, dirt, and general lack of space and privacy is too much for me. I’m not rich, so can’t afford to live to my standard of living in Manhattan or other desirable neighborhoods. NYC will just be for visiting for me.
I really love living in a lower-density (but still close-in) part of Brooklyn. 10 minutes on the subway and I am in Manhattan but it’s a real neighborhood where it’s noticeably quieter and more tranquil and relaxed.
Unfortunately it’s like the real estate crash never happened here. Apartment prices (sales and rentals) are at least 2x higher than they were before 2007, and row house prices are through the roof. There must be an awful lot of rich people to buy and rent these places.
I like Washington DC and could see moving there at least part time if my D stays there. Can’t stand NYC and would never relocate there. Similar to NoVADad’s reasoning, but mostly too big. My S is there now but I do not expect him to stay very long.
wow, who can afford to retire to NYC??? I love visiting, but it is so stinking expensive. I spend a ton of money each time. My daughter has interned there for the past two summers, and will likely land a job there when she graduates, but she is dreading it, after growing up in the midwest. Its so hard to fathom paying for rent for a bedroom, what we pay for a 4 bedroom house, in a really nice neighborhood.
You can live in NYC, but it won’t be in nice Manhattan or hip Brooklyn neighborhoods. I have family in a quiet nice neighborhood in Queens, but it’s an hour commute to Manhattan and a two fare zone (bus and train). I just find the things that I now take for granted (quality accessible healthcare, great and affordable grocery stores, shopping, affordable cultural events, etc.) will be lost if I moved to NYC.
NYC is not just the hot neighborhoods of Manhattan. I rent a 850-sq. ft. 2-bedroom apartment in brownstone Brooklyn for $1700, including heat, 5 minute walk to the subway, 10 more minutes on the subway to Manhattan, easy free parking on the street.
Alas, it goes up every year. But so far, so good. When it gets too high, I will probably look for a smaller place either here or in another neighborhood another 5-10 minutes out.
I would love to retire to NYC but would have to go without H.
I would love to retire to NYC too, but DH isn’t as enthused. The drawback for me are taxes.
I have a friend who dreams about retiring to NYC in a doorman building. She feels it might be easier to age in place t there, as long as you don’t have to go down the subway steps.
Many, many subway stations now have elevators. It can be a pain–one elevator from the street to the turnstiles, another from inside the turnstiles to the platform–but they have made mass transit much more accessible. And every NYC bus has a wheelchair lift that can be used for people using walkers.