Anyone getting/hoping for a house in residency?

Sooo this is a top hope of ours and we are only picking towns we think we could reasonably get a home in: MN, OH, NC, TN, MO

Anyone else heading off this cliff too? I"m down right scared as I feel so "rushed" as we won't even know what town it is until March!

Feel free to give any house tips, or moving tips. I've decided that the trash can will be my friend on this move. I want to move as little as possible, which is pretty near impossible with kids!

Who else is scared with me?

[houseelf]

Hey, if you move to the Twin Cities, I've got a townhome deal for you!

Kelly

[DCJenn]

We did it during residency and fellowship. Not sure if I would recommend it again...both times we ended up not selling as quickly as we'd hoped. Of course, the DC house we've decided to hang on to for a LONG time as the neighborhood is being totally redevloped. The San Antonio house was rented to a crack head who didn't pay rent- ultimately it was sold but it took a while.

Jenn

[SuzySunshine]

We are residents and have a house, most of the residents here do. It can be done, just do your research on loans and find a good realtor. There are a lot of us with home buying experience and we're always happy to help!

[houseelf]

We did not use this program, but I believe Bank of America has some super-duperty doctor mortgage program that people on this website have enthusiastically endorsed.

Kelly

[Vanquisher]

We did not use this program, but I believe Bank of America has some super-duperty doctor mortgage program that people on this website have enthusiastically endorsed.

Kelly

We did that. We have a house in residency even with debt up to our eyeballs.

Depending on where you buy, it seems like a buyer's market is emerging. We're getting hosed on selling our MILs house in Wisconsin. In that regard, it might be a good time to buy but you always have to sell the house too.

We owned before medical school and we do now. I'm happy with it but that is partly because we got in at a good time (dumb luck) and have built up some crazy equity. Our mortgage is less than what we could rent for. But...you never know when your furnace, A/C, plumbing, etc might go on the fritz and you have to shell out for it. I'll spare you my rant, but we are having some problems with our furnace that is only 6 years old and I'm about to tear my hair out -- or the furnace, if it weren't so chilly.

We did it. Take into account the length of specialty and how long you'll be in that town FOR SURE. I would not suggest buying for <3 year programs -- especially in this market. It took us a full year to sell our house in Cleveland (a full year AFTER we'd moved) and really put us behind the 8 ball as far as paying off debt w/the new "huge" attending's salary.

[SuzySunshine]

We also were able to get a great rate b/c we got a 7-yr ARM, the exact length of DH's residency.

(Now we may get screwed on that if the housing market doesn't rebound but I'm not going to worry about that right now)

Well DH and I will be married 8 years at graduation, and well we're really getting tired of living in an apartment. As we have two kids a play room and or a basement or backyard would really improve some play time. As it is we just don't have a lot of room for 4 people.

We'll see though...now just how does one not go completely crazy until Match Day???

[Lo]

doesn't Bank of America also have a program for doctors that lets you put no money down on a house? DF thinks that someone in his residency program did this but it kind of seems too good to be true...

[SuzySunshine]

now just how does one not go completely crazy until Match Day???

Can't answer that one! I spent my free time doing research about all the possible towns, it ate up my time and drove me batty so probably not a good idea.

now just how does one not go completely crazy until Match Day???

Can't answer that one! I spent my free time doing research about all the possible towns, it ate up my time and drove me batty so probably not a good idea.

Yep.

I must be a dummy, but I haven't thought twice about Match Day. I didn't even know what day it was!

Honestly, I figure we'll go where we go and cross that bridge when we get to it.

That's the spirit!

I get a wee bit OCD about planning things out so my security blanket(s) were excel spreadsheets with information about potential locations.