If you were a dental student, where did you live? In the dorm, apartment, house or other place? I was just thinking that if you pay rent for those four years then you're just wasting your money. Why not just invest in a house, condo, or apartment that will be yours after you pay it off? I think this is a good idea only if you are going to stay in the state to work after you graduate. What are your thoughts?
Where do dental students live during school?
- Thread starter helprosie
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Because not many of us have the down payment for a house.
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um in my experience all mortgage require some sort of income, which dental students don't have. and I can only think of some places that an apartment or condo with price below 100k$ which made this worthwhile.
btw, what if when you move away you can't sell that house.........and get stuck paying tax and fee for the house....or worse yet can't find anyone to rent it to.
I know my parents are considering buying a condo/townhome near where I go to dental school, wherever that might be. There should be no issues renting it out after I move on and being that it is a condo/townhome, outside upkeep is taken care of. They are hoping I end up somewhere that they would consider retiring to down the road and then move to that condo/townhome. Ideally though, I get accepted in-state and live with them to save costs.
You need some sort of income for rent as well. Or do most dental students take out a loan for rent for those four years?
yeah i see your point
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really? because I think if your rent is below 500$ a month you just need to have a month deposite that is it.
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Yes, many dental (and med, vet, pharmacy, whatever else) students take out loans for rent. Not everyone is fortunate enough to have 1) savings 2) income or 3) parents paying for their rent.
No I'm pretty sure you pay rent every month.
A
arkenstone
If you're getting no help from family, it's really tough to buy. Even if you manage to buy with no downpayment, you need some sort of fund to deal with maintenance, etc.
If you ARE getting help from family, then there are pros and cons. The main pro, of course, is that instead of paying rent you're building equity. The main con, however, is that the main pro may not exist in several years... that is, you don't know how the local housing market will change, among other things.
I asked the same question in this thread, and there are some good responses: http://forums.studentdoctor.net/threads/owning-vs-renting-in-school.1100973/
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what I mean is that renting a house does not need you to prove you have a monthly income from a job where as mortgage for a house does require this.
renting a house usually requires a month deposite but does not really care if you have a job's income as long as you pay rent every month before due.
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I plan on setting up a tent in the library.
major respect to you and people who do that.
S
SXCoronado
Oh! Okay, but still. Where do students get the money to pay for rent? I doubt everyone has enough rent money saved up for four years
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this is back to the OP's original question to whether or not use loans from dental school to pay for mortgage (at the end your loan money is converted into another type of property) whereas if you pay rent from loans, all your money is gone.
