The GOOD
Aside from the obvious perks of saying you live in NYC, renting an apartment here gives you the freedom to try out different neighborhoods with relative ease. Once your lease is up, you can move to another borough and get to know a whole new ethnic enclave.
While it'd be great to have a home to call my own, I'm glad I don't have to deal with a mortgage or maintenance and that if something falls apart, I can always run downstairs to ask my super to fix it. I think of renting as a test drive to maintaining a home before buying a house someday and a blank slate that challenges you to truly make it your own.
The BAD
One of the biggest downsides to renting in NYC is the price tag on location. If you want to live in Manhattan, expect to fork over a pretty penny for the zip code. Those who don't mind a slightly longer subway ride can find better deals - and much more space - in the outer boroughs.
Other cons include limitations on what you can do with your apartment's layout, architectural features, and, most importantly, your neighbors (mine has delusions of channeling Mariah Carey whenever she sings) and the noise levels around you.
The UGLY
There are so many details I would change if I could. The exposed radiators painted in metallic grey, the ugly gate to secure the window to the fire escape, the lack of space in the kitchen area, and the fact that all my windows face another wall of windows limiting the amount of sunlight that gets in each day.
But I've compensated on some of those drawbacks by draping sheer curtains over my windows to let in light while shielding the view, having an extra cabinet installed in the kitchen, and using a pantry cart as a movable island for food preparation. It's all about the little things you can do to make this into a comfy home.
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