Rent or Buy a Home?

Physician's Money DigestApril15 2005
Volume 12
Issue 7

Another conundrum physicians face,particularly young residents, is whetherto buy or rent their home. There has beena surge in real estate purchases and prices,particularly in the past few years, triggeredin part by rock-bottom interestrates. This makes home buying slightlydaunting. In general, renting pales incomparison to the financial benefits ofowning a home. However, in someexpensive areas, renting can actually bethe better deal. To weigh the financialpros and cons, use an advanced buy/rentcalculator, such as the one at www.smithfinancialplace.com, a site created by twoeconomics professors, or use a simplerversion at www.thinkglink.com, a consumerreal estate Web site.

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