Housing Renting vs. Owning While at NOSM

[Guest Sudcyclist]

My sister-in-law is a 4th year med student at Ottawa U and found it worth her while to buy a condo rather than rent for 4 years. The way the real estate business is booming, you will most likely make money when its time to graduate if you own rather than rent. The market is supposed to stay this way for the next few years.

If you want more info on this, please contact

Liz-Spooner-Young, Sales Rep at ReMax Crown Realty.

Tel 705.560-5650, C. 705.691.3208. email liz@vianet.ca

She is very knowledgeable and can answer any questions you may have with regards to renting or owning in various areas of the city. Liz can assist you in finding a place to stay while at NOSM.

Good luck!

[Guest Icarus07]

I'm member of the charter class and definitely agree that there are benefits to purchasing a house over renting. I bought one with my little sister who just started her undergrad degree in Sudbury this year and it has worked out great so far.

 

That being said, take a careful look at the NOSM curriculum. The majority of students on the east campus will not be living in Sudbury during their 3rd and 4th years of the curriculum. That is certainly something that you should take into consideration when you think about buying. Current NOSM students are arranging to have excpetions made for some students in the program who have young families in Sudbury, but there are no guarantees. The financial benefits of buying a house aren't as great if you're living in it for a shorter period. That being said, you could always try to rent it when you're living elsewhere for a placement.

[Guest Icarus07]

Sudcyclist.

 

I'm sure people appreciate the advice, but all of your posts apprear to be more advertisments than topics for discussion. I guess there's no law against that but I think there might be a conflict of interest there that people should be aware of.

[Guest NurseNathalie]

Thanks for voicing what I had been thinking too, Icarus

 

Sudcyclist - I also found most of your postings to be more like 'ad campaigns' than sharing of information .. and I recall going back to check all your posts, after I noticed they seemed to only mention real estate contact info... we got the message- you don't need to keep posting!

[Guest peachy]

Yeah, if there was a moderator for this forum it would probably get cleaned up, but there aren't any NOSM mods yet.

 

... I can't imagine living in a city where you can afford to buy a whole HOUSE near to school! :lol

[Guest northerndoc]

Hi,

 

I agree with Icarus completely about the 3rd and 4th year. Many of us in the charter class have purchased homes and are a bit concerned over what the best method for third year will be. We have made a "big" investment in the home, so are uncertain if to keep two residents during the third year, or to sell it, potentially taking a loss on it depending on the real estate market. It is a tough call... with renting you are throwing $600+ at something that you'll never own, with buying you run the risk of a declining house market and a loss, or having to maintain two households (i.e. one in Thunder Bay and one in Sioux Lookout for example). Though depending on your campus Thunder Bay has a reasonable priced housing market...