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Could anybody help with the following question about housing? I posted this in the "medical student"section but there haven't been many replies. It concerns buying a small house vs. renting. One respondent recommended buying....thanks.
1. The issue is that I'm single and don't anticipate marrying in medical school. (as of now)Also, the rent is not that expensive at MSUCOM; a cursory check saw rent+utilities at around 500/month. I'm sure I could negotiate a more attractive rate, too.
2. With MSUCOM; you may not be spending your 3rd and 4th years in East Lansing, I believe.
3. Yes, you can rent the house out but wouldn't it be a big hassle and not worth the marginal difference between the mortgage payment and the rent? Less distractions may lead to better grades, which could lead to a more attractive specialty. This would be worth hundreds of thousands in the end.
4. Also, is anybody participating in the ANG or Navy Reserve? I'm interested in them since they offer some loan repayment options (without too much commitment, I believe) The HPSP and FAP don't seem attractive, based on the literature I've read on current/past participants.
I think #2 would be a big reason not to buy a home... Unless you're bent on living in a certain area after 3rd/4th year. Too many unexpected things in life happen, I think buying would be too much of a hassle. Just an opinion, though.
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