Long-time WCI fan. Also a long-time renter between med school, residency, and afterward.
Younger EM attending. Working with an SDG. Not yet a partner. Have about $125k in student loans (started >$200k when refinanced less than a year ago). No other debt other than amounts on credit cards paid in full monthly. Car paid off. No children. Annual salary anywhere from $270k to $360k as is with arrangements as are / productivity bonuses / etc, obviously not including partnership bonuses.
As one issue, there is some consideration as to whether I'd stay long-term -- but have discussed this with group, can see this happening.
Have been renting forever. Current rental has been great for its purposes, but I'm increasingly unhappy here. Paying about $1250/mo. Need more indoor space for interests, things I want to do. Has been a "delayed gratification" thing for years in med school, years through residency, and now beyond even my first year out.
Rental market where I am is not great. Would be fine renting a really nice condo but cannot find any viable options.
Houses I've found are $400-$450k neighborhood and big for not having kids, anywhere from 2k-4k finished sqft. But would be something I'd enjoy more.
That said, would it be that foolhardy a proposition to take out a doctor's loan for a house in that price range given this situation? Any other words of wisdom from anyone who may have been in a similar situation?
Thanks in advance.
Younger EM attending. Working with an SDG. Not yet a partner. Have about $125k in student loans (started >$200k when refinanced less than a year ago). No other debt other than amounts on credit cards paid in full monthly. Car paid off. No children. Annual salary anywhere from $270k to $360k as is with arrangements as are / productivity bonuses / etc, obviously not including partnership bonuses.
As one issue, there is some consideration as to whether I'd stay long-term -- but have discussed this with group, can see this happening.
Have been renting forever. Current rental has been great for its purposes, but I'm increasingly unhappy here. Paying about $1250/mo. Need more indoor space for interests, things I want to do. Has been a "delayed gratification" thing for years in med school, years through residency, and now beyond even my first year out.
Rental market where I am is not great. Would be fine renting a really nice condo but cannot find any viable options.
Houses I've found are $400-$450k neighborhood and big for not having kids, anywhere from 2k-4k finished sqft. But would be something I'd enjoy more.
That said, would it be that foolhardy a proposition to take out a doctor's loan for a house in that price range given this situation? Any other words of wisdom from anyone who may have been in a similar situation?
Thanks in advance.
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