My wife and I are both graduating dental school and starting associate jobs. Our plan is to work as associates for 2-3 years before I open a private practice and she stays on as an associate until she can open a second practice. We will be graduating with roughly $600K in student loans and will start out making roughly a combined $290K.
My dilemma- In the area we will be working, a 3br 2ba 2500sqft house will cost around $550K (up around $100k over the past year) and a 2br 2ba apartment goes for around $2500/mo or $3000+ for a 3br 3ba (1500sqft) apartment.
My thought would be that renting would he smarter if I could put more towards investing for my future practice/retirement and paying off loans, but the way rent is also inflated has me at a loss for what is best.
Edit 1: If we do buy, we are considering a Physician Mortgage loan which would not hold our student debt against us, no down payment dor homes up to around $750K, no PMI and usually lower rates.
Submitted January 18, 2022 at 10:41PM by NewDMD2022 https://ift.tt/3GGdzxG
