I'm (27) a California medical student about to move to Oklahoma to start my 4-year residency training. My wife (30) is a podiatrist (early in her career, also has debt).
We are wondering whether it's better to purchase a house or rent an apartment during my 4 years there?
Debt: I have north of $350k debt (yay, graduate education!!!), and my wife is somewhere around $250-300k herself.
Plans: We will probably (re: probably) not live in Oklahoma passed my residency training. But housing is much cheaper there, about $200k for a nice home. Whereas in California (where we do plan to move back eventually), even $800k probably doesn't get you very far.
Misc: We've thrown around the idea of renting a place during the first year and buying a house for my years 2-4. My only concern is that 3 year's ownership of a house may not be long enough for the house to be sold for profit... Or to break even, I'm not sure about that though.
I'll be happy to add more details if (and when) they are needed. Any and all help appreciated, please and thank you.
Submitted April 19, 2019 at 11:26PM by LifeSacrificed http://bit.ly/2Vh9fQY
