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House or apartment?
Started by kidsteethyay
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Well, I am a girl so no wife lol. But no, I don't have a family. If a couple of my friends and I all get into the same school we'd like to live together. We all have cars so driving won't be an issue.
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depends on where you go...
UOP = rent
Lincoln = BUY
If you have the chance I would buy. Right now I dish out 1000+ in rent that could easily go into a mortgage in another city (or here if I found really good deal...😀 )
UOP = rent
Lincoln = BUY
If you have the chance I would buy. Right now I dish out 1000+ in rent that could easily go into a mortgage in another city (or here if I found really good deal...😀 )
sorry i guess that came off as sexist 😳 i was just phrasing the questions as i would think of them haha
I was wondering this too, but since you mention Lincoln. Isn't buying a house huge? I don't know where I'm going to end up after 4 years.. Let's say I move to Omaha after I finish, what do I do with a house in Lincoln?! 😕
sorry it's a bit off topic 😀
I was thinking renting..
Obviously you burn it to the ground...EQUITY and all. Or rent it out, or invest a minimal amount into it over four years, spruce it up, sell it for more than what you bought it for.
They have a term for it. It is called 'flipping' a house. Although I think a 'flip' happens in a matter of 3-6 months, you could essentially 'flip' it in four years.
I am sure google has 1000's of articles on flipping a house. Search for it. i also know at Barnes and Noble (and borders) there are several books on simple renovations that cost 100's of dollars, that increase the value of the house by 1000's of dollars.
Time in dental school is minimal if you want to specialize, but for the GP, time is available, and there are summers, holidays, etc. to do things to the house to make it livable.
A five bedroom in Lincoln with three bathrooms a block away from the school will cost 80K to 130K. Easily financed over a 5 year arm and may even be cheaper than renting if you get a good mortgage and roomates to pay you.
Hope that helps. It is all about economics. 🙂
Hey thanks! I don't know anything about economics.. all those science classes don't help at all 😀
I'm still hesitant on buying something that big.. but thank you for the info!
Be careful too where you are buying. The housing market in some areas is going south fast (Arizona and California come to mind). We have friends who have lost $20,000 on the value of their house in the last year (granted, it is a million dollar home) but they are absolutely reeling. A sister of a friend is stuck in a house that they can't get anyone to buy for the price they need to cover their mortgage--the value has gone down too much. Arizona was a huge boom because of speculation, but now that the market has cooled so has speculation. Make sure that you are not buying in a place that was over-built or where housing is over-priced (like California). I am very wary of buying after losing nearly $10,000 on the house we had to sell when we came to dental school. Housing is a great investment for the long haul but it is a risk for the short term.
I'm with you, economics is not my strongest subject!
But yeah, thanks for the great information. I really like your webpage Corolla, lots of good info on there too. I made it one of my bookmarked pages!
