Hello everyone, I'm a 24y/o female starting med school this fall in a new city and would love to buy a condo by the end of this year but no later than next summer (b/w 1st & 2nd yr). I am still debating whether to buy or rent, so I figured I could use the first semester to get a feel of the city/real estate market, speak & explore some places with the agent recommended by my school's financial aid director, and figure out the best area to buy where property value is likely to increase. My ideal plan is to buy a 2 bedroom 2 bathroom condo no more than $200,000 in a desirable location and rent out 1 bedroom to a student. That way, I cut my mortgage payment in half. My concern is whether or not waiting till end of first semester will affect my chances of getting a mortgage since first year loan (tuition + living expenses ~ $60,000) will be reflected on my credit. Does anyone know whether the whole first year loan will show up in my credit record say by December this year or just the amount disbursed for M1 first semester only (1/2 ~ $30,000)?. Also, I don't have much money saved up for down-payment, but have decent credit. What are my chances of qualifying for a 100% mortgage with my parents as cosigners considering that I'll have no income in med school (my parents have very good credit). Will I get brownie points for being a med student with the potential of making $$ in the future or does that only apply to residents? On average, how much do you think the other expenses will amount to (closing cost, taxes, insurance, association/maintenance fee). How much commission do you pay the real estate agent? Sorry to be asking all these questions, but I know nothing about buying a property. I'll appreciate if someone can break down the process for me. Thanks. P.S: What are your opinions on this - does it make sense to buy instead of renting when it's just a short-term investment?. Assuming I buy a condo by next summer, I would have had it for only 3 years by the time I graduate from med school. I have no intention of doing residency where my school is located (unless of course I don't match anywhere else), so I would be selling the condo after 3 years. The only other alternative is to hold onto it and rent both rooms out to students through residency, but how will I organize that if I'm doing residency in another city? Are there people that manage properties for others?. How much do you have to pay them?. Any tips on Richmond, Virginia market especially close to VCU campuses [Downtown, Shockoe and Fan area]?