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paying rent/mortgage


Step 1 studysaurus
7+ Year Member
15+ Year Member
Dec 9, 2003
Chicago, IL
  1. Medical Student
    I am heading to medical school this fall entirely on loans, which includes about 1200 USD for living expenses from which I am supposed to pay rent. I noticed that mortgage payments for a cheap place actually comes out to less than rent. Is anyone in a similar financial situation as me doing mortgage payments instead of rent?


    Doc, Author, Entrepreneur
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    15+ Year Member
    Oct 1, 2002
    San Diego, CA
    1. Attending Physician
      With the interest rates down, it may not be a bad investment to buy a place that you can resell in 4 years. Keep in mind that mortgage payments may be cheaper, there are also more indirect costs with keeping up a home, e.g. property taxes, fixing the sink, keeping up the yard, etc...

      You can rent the place out to other medical students and live there for FREE. ;)
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