I have a question as to current and future housing options. My gut tells me to rent a place until I have gone through medical school and before starting a residency. I have, however, heard of students buying homes whilst in school. For the life of me I can’t understand why but if there is a legitimate reason for it, I’m all ears.
There is not a legitimate reason for it that I can think of and several of my classmates had a heck of a time unloading their purchases upon graduation. If you’re quite certain you will be able to complete residency in the same place where you are going to med school, then you could get away with it. But I wouldn’t try it.
I agree with Denise. The market, while it may be good for a buyer, is terrible for selling. While you can hope you will complete residency in the same location as you will attend medical school, you cannot be certain until Match Day.
Thanks. I was feeling the same thing but wasn’t too certain. I appreciate the responses.
Another thing is that I couldn’t imagine how hard it would be to keep up with the responsibilities of home ownership while going to med-school. (ie mowing grass, repairs, ect.) Gabe one of the longtime posters on here owns but he downsized and live in a condo community where that stuff is done for you.
I do know someone who did that going to VCOM. She said rentals were fairly expensive due to the huge student body at Virginia Tech, so she bought a small house, rented out space to two roomates, had a very low cost for housing, and sold the house when she finished. Was able to stay in the area for 3rd adn 4th year prior to residency.
Very iffy these days that one would be able to re-sell the property.
Kate
- Kate429 Said:
Very iffy these days that one would be able to re-sell the property.
But the flip side to that is that in most areas, housing prices are far lower than they were even five years ago.