Financial Considerations of Buying a House as a Resident

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Exploring the financial implications of purchasing a house during residency, including the hidden costs beyond mortgage payments and the comparison between renting and buying in terms of transaction expenses. The chapter cautions residents to carefully assess the financial feasibility of homeownership and highlights the advantages of renting in terms of predictability of costs and reduced maintenance responsibilities.

This hospitalist has paid off $155,000 in only 2 years! He said he was able to stick to his aggressive payment plan because he also allowed himself to enjoy his life along the way. He left room in his budget for some travel and some of the little life luxuries that feel good. He is great example of finding that balance of building wealth and enjoying the process. Stick around after the interview for a Finance 101 discussion about buying a house as a resident.

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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!

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