I will be starting at Mayo Medical school this August. Right now I am single, work full-time (and more) and earn about ็,000 per year. I do not own a home, but rent. I plan to use a mixture of savings and loans to pay for medical school.
I am thinking of buying a house in Rochester, Minnesota for use while in medical school. Is it possible (and reasonable) to buy a house now, while I still have a decent income so that I can qualify for a mortgage, and then use a mixture of student loan money and my savings to pay the mortgage once I am in medical school and without an income? I am not talking anything extragavant. I could easily put ฟ,000 down on an ๠,000 house (they do exist in Rochester as I have started looking on-line) and be left with a mortgage payment of less than 躔 per month.
Will home ownership be too much of a headache (as compared with renting) for a single guy?
Any comments or suggestions regarding this? Thanks…