fbpx

When You Buy Too Much House…

Daniel Paull MD explains how buying an expensive house can cause physicians problems.

November 27, 2023

A mistake a lot of physicians (both old and young) make: buying too much house.

It’s very common for physicians to think that they need to own one of the nicest houses around. Many end up buying a massive house straight out of residency, even though they may have hundreds in thousands of debt.

 

It's very common for physicians to think that they need to own one of the nicest houses around. Many end up buying a massive house straight out of residency, even though they may have hundreds in thousands of debt. Share on X

 

Lets look at who wants you to buy the large house:

1. Yourself and possibly your family

2. Your real estate agent (bigger commission)

3. Anyone who sells you insurance (you will need some for the house and then increased life and disability to pay for it if something happens to you)

4. The bank (bigger loan, yay!)

5. The hospital system that employs you. They want you to buy a house you barely can afford, so they can shove terrible contracts down your throat and make you do things that you really don’t want to….salary addiction.

 

 

The end result is that you traded what little autonomy you had for a large house. Physicians can be house poor too.

The irony is that you will need to work so much to stay in the house, that you may not even get to enjoy it!

Conversely, a more reasonable house will give you more leverage in negotiations if you aren’t salary addicted. It will also put less of a financial strain on you and your family…choose wisely.

 

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. For more information, or to submit your own opinion, please see our submission guidelines or email opmed@doximity.com. Do you have a compelling personal story you’d like to see published on SoMeDocs? Find out what we’re looking for here and submit your writing, or send us a pitch.

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. Do you have a compelling personal story you’d like to see published on SoMeDocs? Submit your own article now here.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

This learning experience is powered by CMEfy - a platform that brings relevant CMEs to busy clinicians, at the right place and right time. Using short learning nudges, clinicians can reflect and unlock AMA PRA Category 1 Credit.

Of Interest

Subscribe To Our Newsletter

Get updates and learn from the best

Dana Corriel, MD

Speaker: Dana Corriel, MD

Dr. Dana Corriel is a physician entrepreneur who has built her own digital startup from the ground up and has grown physician communities. She can lecture on most topics, where it comes to the healthcare digital space.

Side Ventures [SERIES]

Side Ventures [SERIES]

Coming Soon: Guests will discuss the side ventures they’ve taken on, from the books they’re writing, to the podcasts they host, to other extracurriculars they’ve taken on.

Kimberly Parks, DO

Kimberly Parks, DO

I am a physician health care entrepreneur disrupting conventional medical care through integrative well care.

Want More?

Be a part of our healthcare revolution. Don't miss a thing SoMeDocs publishes!

Disclaimer: SoMeDocs assumes no responsibility for the accuracy, claims, or content of the individual experts' profiles, contributions and courses. Details within posts cannot be verified. This site does not represent medical advice and you should always consult with your private physician before taking on anything you read online. See SoMeDocs' Terms of Use for more information.

follow us

© 2024 SoMeDocs. All Rights Reserved.

Soak up content & grow

Educational reflections..

Drop your email address below and we’ll email you the link for continuing opportunity pathways from CMEfy. Check your spam folder if you do not receive our email. We’ll also add you to our Sunday newsletter, so you can receive even more of our unique content!

Support A Platform that Celebrates Real Doctors

For just $10 a month, you can help keep this openly accessible site available to all & help us sponsor in more doctors.

Interested in subscribing
to our unique content?

Interested in subscribing to our unique content?

Play Video
Our Founder Answers Your BURNING Question

SoMeDocs

“Why should I become a member of SoMeDocs if I already have my own space online?”

Site SoMeDocs Logo, square

WANT TO STAY IN THE LOOP?

DON'T MISS A SINGLE CONTENT PIECE.