Yes, there are benefits to living alone. But is the added cost worth it? If you’re trying to determine which option is best for you, here’s what you need to know.

Budget/Cost

Before you move to the city, preparing a budget is essential. This allows you to organize your finances, and see how much money you can put aside towards rent every month. Rent will likely be your greatest monthly expense, so figuring out your monthly rental budget will help you determine what type of apartment you can afford.

Typically, having roommates is more cost effective than living alone. Being alone in a studio apartment means you not only have to cover the cost of rent by yourself; you’re also solely responsible for the security deposit, paying utilities, wifi, as well as all other expenses that come with moving into a new place.

Bottom line, deciding to live with roommates saves you money, and by default, frees up cash in your monthly budget.

Size

Contrary to popular belief, when it comes to New York City apartments, size does matter.

Living with roommates allows you to budget for a larger apartment without the added cost. Have you ever toured a studio apartment in the city? More often that not, they are extremely tiny with very limited space. Yes, you may be living by yourself – but wouldn’t you rather live with roommates and actually have a sizable kitchen, closet space, and not have to pay upwards of $3000.00 a month?

In New York, there are plenty of things to do outside of your apartment. There is no shortage of museums, restaurants, parks, events etc., likely a few blocks away from wherever you live. So often times, people may think it’s ok to have a tiny apartment because you’ll never be in it. And while this may be true for some, for a majority of others it is not. If you’re a person that values space, consider opting for a larger co-living unit as opposed to solo living, which naturally tends to be more cramped.

Availability

Not to mention, studio apartments are few and far between. While search results for 2, 3, 4 + bedroom apartments appear in the thousands, studio apartments yield far less. This may pose as an issue if you are looking to move to a particular area. If you are set on a specific neighborhood, there may be limited options available for studio apartments. On the other hand, apartments with multiple bedrooms are much easier to find. This way, if you choose to live with roommates, it is expected that you will have far more options to choose from.

And therefore, have a higher chance of finding the perfect apartment for you.

Convenience

There is also an added convenience to living with roommates. On top of them helping with costs, they are also able to assist with chores around the house. You can split up cleaning responsibilities, take turns grocery shopping, taking out the trash, cooking, and everything in between.

Additionally, many people may have a dog or cat with them when they are moving in. Instead of finding accommodation for your pets when you go away, your roommates may be able to look after them, possibly completely free of cost! This is incredibly convenient for people who may take short trips, and have to constantly find a place for their pets to stay while they’re gone.

Another added convenience your roommates may provide while you’re away, is collecting your packages and mail. Have you ever dealt with the frustration of missing a package and having to get it redelivered, or go to the post office to pick it up? Having roommates means there will probably be at least one person home to collect your packages when you are not there.

Companionship

Although some people prefer being alone, others thrive on companionship. Having roommates, especially ones your consider friends, means there is always someone to spend time with when you need it. On the other hand, if you are a person that prefers privacy, you can always seek out solitude by retreating to your room. Having roommates gives you the option of spending time with others when you choose. Living alone can be isolating for some, especially when you’re new to the city and haven’t made any friends yet.

Making friends in this bustling city can sometimes be difficult, especially if you are not a person who goes out or socializes often. Living with roommates creates a situation where you can make friends more easily. Plus, if they’ve lived in the city for some time, they may be able to show you around. They can make suggestions about where to grocery shop, get coffee, the best restaurants to try based on the food you like, where to grab a drink after work, and so much more!