The most conservative will be to continue renting. That does not mean it is the best decision for you.
As others have noted, your income relative to expenses and the cost of the house you are considering will prevent you from being badly hurt no matter how poorly things turn out. If you decide to move cities at the same time as a real estate crash you could lose several hundred thousand dollars on the house. That is a truly worst case scenario. But you could afford that.
More likely, the house price is stagnant and all your expenses mean you lose money on the deal but not a hyve amount.
As a physician, you know that everything is in flux. Even the most stable practices can encounter new challenges. That is life in that field. As a successful clinician, you have a marketable skill that you can take with you elsewhere if you decide to leave. You probably know that many docs change their practice locations during their careers.
About the only risk I can see is if you are in a field that is being taken over by private equity. If so, then bets are off as to what will happen.
If you are happy renting, then it is hard to see a reason to invest the time and effort involved in buying and maintaining a house. But your decision should revolve around how much you want to be a homeowner.
As others have noted, your income relative to expenses and the cost of the house you are considering will prevent you from being badly hurt no matter how poorly things turn out. If you decide to move cities at the same time as a real estate crash you could lose several hundred thousand dollars on the house. That is a truly worst case scenario. But you could afford that.
More likely, the house price is stagnant and all your expenses mean you lose money on the deal but not a hyve amount.
As a physician, you know that everything is in flux. Even the most stable practices can encounter new challenges. That is life in that field. As a successful clinician, you have a marketable skill that you can take with you elsewhere if you decide to leave. You probably know that many docs change their practice locations during their careers.
About the only risk I can see is if you are in a field that is being taken over by private equity. If so, then bets are off as to what will happen.
If you are happy renting, then it is hard to see a reason to invest the time and effort involved in buying and maintaining a house. But your decision should revolve around how much you want to be a homeowner.
Statistics: Posted by afan — Wed Sep 04, 2024 9:15 am