5 Important Things To Consider When Buying a Home as a Young Medical Professional
1. COMMUTE- Does your contract require you to live within a certain mile radius from the hospital or clinic?
2. BUDGET- It's important to determine how much you can afford to spend on a house, taking into account your income, expenses, and debt.
3. PHYSICIAN LOAN- This type of loan recognizes the unique financial challenges faced by physicians, such as high levels of student debt and a delayed start to earning a high income. It can be a great option for young physicians starting out!
4. LOCATION- Consider the location of the house in relation to your workplace, as well as amenities such as grocery stores, schools, parks, shopping, and entertainment. Think about your long-term plans and whether you plan on staying in the area.
5. CONDITION- Consider the condition of the house, including any repairs or renovations that may be needed. If you're handy, you may be able to do some work yourself, but it's important to factor in the time and money needed to make any necessary updates.
