Should I buy a house when I start dental school?

[27Txgirl18]

Hi, nontraditional student here. I'm 31, married, have 1 dog and plan to have children during dental school. My husband is an MD/PhD student and receives a stipend for school that is enough for us to live off of. I work as a dental assistant and have been saving most of my money and turning some of it around for profit in crypto. Neither of us have debt. We've been incredibly fortunate to be save up around 75k. I've grown up poor and never lived in a place that I'd proudly invite friends over for. I'd like to have a space of my own, that is inviting where I can bring people together to eat and study, but also large enough to keep my abundant craft things out of sight, and eventually enough room for any additions to our family. I'm in my 30s and feel like I'm ready to start living like a normal social person and not a closeted poor college student with too many hobbies and stuff that goes with it and the shame of subjecting people I want to spend time with, to a cluttered space like that. I'll be starting dental school out of state next year and my husband will join me for residency a year after that. So for one year, I will use loans for the mortgage and then when my husband joins me, we'll use the stipend/residency money to cover mortgage--. We're thinking about a house/townhouse between 150-220K. Is this a bad idea?

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[Big Time Hoosier]

I'll be starting dental school out of state next year and my husband will join me for residency a year after that.

You mean you hope your husband Matches by you. What if he doesn’t? What then?

Big Hoss

 

[Big Time Hoosier]

Why not just rent a townhouse if it’s the extra space you are after? Why do you have to buy? You ready to deal with potential headaches that come with home ownership?

Big Hoss

 

[27Txgirl18]

Why not just rent a townhouse if it’s the extra space you are after? Why do you have to buy? You ready to deal with potential headaches that come with home ownership?

Big Hoss

It's like $500 more monthly

Why not just rent a townhouse if it’s the extra space you are after? Why do you have to buy? You ready to deal with potential headaches that come with home ownership?

Big Hoss

I'm totally open to renting and I've been actively looking at places in the city for months. There are certain things I can't compromise on such as tile in common areas (my dog poops on the carpet a few times a week, and it's taking a toll on my mental health devoting that much time to constantly scrubbing the carpet), and 2 bedrooms. Under 30 minutes away from the school. The monthly for rentals for all of that are an average of $400 more per month than paying a mortgage. So my month-to-month will be cheaper..

 

[2thDoc11]

Hi, nontraditional student here. I'm 31, married, have 1 dog and plan to have children during dental school. My husband is an MD/PhD student and receives a stipend for school that is enough for us to live off of. I work as a dental assistant and have been saving most of my money and turning some of it around for profit in crypto. Neither of us have debt. We've been incredibly fortunate to be save up around 75k. I've grown up poor and never lived in a place that I'd proudly invite friends over for. I'd like to have a space of my own, that is inviting where I can bring people together to eat and study, but also large enough to keep my abundant craft things out of sight, and eventually enough room for any additions to our family. I'm in my 30s and feel like I'm ready to start living like a normal social person and not a closeted poor college student with too many hobbies and stuff that goes with it and the shame of subjecting people I want to spend time with, to a cluttered space like that. I'll be starting dental school out of state next year and my husband will join me for residency a year after that. So for one year, I will use loans for the mortgage and then when my husband joins me, we'll use the stipend/residency money to cover mortgage--. We're thinking about a house/townhouse between 150-220K. Is this a bad idea?

I decided to buy prior to starting D1. BUT I have renters and am living for free with the exception of initial expenses (down payment + closing costs) and potentially any improvements or fixes that need to be done. But again, I have enough saved for those things. Hopefully in 4 years I’ll be able to sell it for a profit or at least break even.. either way it’s better than dishing out a minimum of 40k on an apartment imo Idk maybe that’s not an option but perhaps something to consider!