Housing during Residency

Where did you live during residency? How close to the main teaching hospital? Did you buy or rent? Were there any university owned houses or apartments to rent? I don't need specifics- just wondering if you had any experiences to share.

I know I've heard of several universities offering housing for residents. I thought this might be a good cost savings-if the places are decent-but I know it's very widepread and limited. I want to be a SAHM


At DH's school- they have VERY limited spots for family housing- we were so incredibly lucky to get in here (2 yr wait). I'm not crazy about the actual apartment, but can't beat the convenience or cost savings.

[Rapunzel]

We have lived through the last four years of residency in rental properties. The program for my husband's intern year and his current radiology program do not provide any type of residency housing (although his medical school began offering student housing a couple of years AFTER he graduated :| - so that didn't help us much!).

We live as close to the hospital as we can right now keeping in mind cost of renting (the close you are to this particular medical area the more the prices skyrocket) as well as living environment (kids). I'd say if you are going to live farther from the residency program hospital it's a good idea to be as close to public transportation of some sort as possible (we live down the road from a commuter rail that goes straight to where my husband needs to be).

Good luck!

Jennifer

[DCJenn]

We lived in a rental the first year and bought a house during PGY1. Since my husband had to commute between two hospitals, we bought a house in the middle.

Most of our friends in resdiency bought, but we were in San Antonio and are military so the military housing stipend coupled with the relative inexpensiveness (is that a word?) of San Antonio, made it a no-brainer for us.

I wouldn't buy in any expensive market unless you're planning on making it home. (Like here in DC, we bought because we want to end up here)

Jenn

I think that being near the hospital or a public transportation, if possible, is a good idea. An exhausted resident is not a good driver, IMO.

[Amiens]

During medical school and PGY-1 we lived about 4 or 5 blocks from 3 of 5 or 6 hospital's Matt rotated at. It was nice because he could walk, and we lived on a major bus line that went to one of the other hospitals.

Now we live within biking distance or on a major bus line to the hospitals Matt rotates at. We don't live close enough for him to walk only because we didn't want to get stuck being surrounded by a bunch of UW college students.

The grad school offers student housing, but we found that we could get more for our money if we rented a place elsewhere. We also still have one car, which has helped on costs.

Crystal

[SuzySunshine]

We bought at the beginning of residency. We did medical school in the SF Bay Area so we were THRILLED to be able to afford to buy. DH's program doesn't offer any type of housing though they will assist you in finding some. Most residents here buy either a house or a townhouse.

[migirl]

We also purchased our home at the beginning of residency, I think most of the residents here either own their own homes or condos. I don't believe the University hopsital offers housing either. We live about a 10-minute drive from the hospital, which is ideal since DH takes call from home.

I guess the distance depends on how much time you're willing to spend commuting. My brother (soon-to-be PGY-1) and his wife (3rd-year med student) just bought their first home (condo) outside Washington, DC and on a good day he said it will be about a 30-40 minute commute each way. That would be out of the question for my DH, but I guess the location and price were more important to my brother.

We bought after intern year, around 15 min from dh's work and mine (at the time). I think for a 4 or 5 year residency it generally makes sense to buy, but 3 years or less really make it a tough call. I have a friend who bought for a 3 year residency and they're having a tough time unloading the house (which is just location - they bought w/o knowing the area and did FSBO so really didn't have any counsel). She swears if she had it to do all over again she would have rented.

Condos are good purchases. You build up equity, and they have a pretty high turnover rate. Plus, no yardwork.

[Rapunzel]

Buying is normally the best option in my opinion. Although I have to second what Jenn in D.C. stated: If you are needing to relocate in a super-expensive housing market and will only be there during residency look to rent. There's no way on earth any of the residents in my husband's program could even think of affording to buy in the Boston area (so, every single one of them rents). Definitely become familiar with the real estate market you will be moving into prior to deciding whether to rent or buy.

Jennifer

[Vishenka69]

I think it really depends on whether the program gives housing and what market you're in. We're renting the whole time because it makes the most sense to us being in NY. In med school we lived in subsidized housing (which was still probably more than most people's morgage) and DH walked to school. We then had to move for the internship year and while we didn't get housing we got a $200 a month allowance, which helped. I didn't like the area the hospital is in, so DH drove to work for about 25 minutes each way. Then we had to move again for anesthesia (which further prohibited any possibility of buying). I didn't like the housing that we were offered but we got lucky by finding a rent-controlled apt only a few blocks away and a 5 minute ride from the hospital. None of the moves affect my commute, as in all 3 cases I was an hour away from work by subway.

We really like the area we live in now, but I'm afraid to buy because I'm not sure what the job market will be in 2-3 years and don't want to be tied to a place that doesn't pay well.