Match Day, March 21st, is fast approaching! Newly minted doctors across the US will soon learn where they'll spend the next 3-5 years of their lives – a pivotal moment in their medical careers. For many, this means relocating, adding another layer of complexity to an already demanding time.
For those relocating for their residency, Acre’s lease with home appreciation is a strong alternative to both buying a home and renting. Specifically designed for three to five year timelines, Acre enables you to:
1) Build wealth - no more throwing money away on rent. In fact, Acre is built to be a better financial outcome than a comparable mortgage. See how.
2) Skip the mortgage process and the debt - Acre is not a loan. Instead, you partner with Acre to purchase a home that is listed for sale, giving you access to high quality homes that are often not available for rent. See homes that are preapproved to purchase with Acre.
3) Remain flexible - shorter terms and no selling obligations make it easy to pursue whatever opportunities arise after your Residency.
Acre serves several regions with major medical programs participating in the Match, including:
Georgia (Atlanta):
- Emory University School of Medicine
- Morehouse School of Medicine
- Northeast Georgia Medical Center
- Northside Hospital
- Philadelphia College of Osteopathic Medicine - Georgia Campus
- Wellstar Health System
North Carolina (Triangle & Triad):
- Campbell University School of Osteopathic Medicine
- Cone Health
- Duke University School of Medicine and Medical Center
- University of North Carolina (UNC) at Chapel Hill School of Medicine and Hospitals
- Wake Forest University School of Medicine and Medical Center
The Residency Relocation Challenge
Following the Match, the task of relocation can be confusing, time consuming, and stressful. Finding a home, navigating school enrollments, and managing all the moving logistics falls squarely on the soon-to-be-busy resident.
The typical 3-5 year residency period presents a unique housing dilemma. It's a significant time commitment, making renting seem less ideal. Yet, it can feel too short to justify the costs and responsibilities of homeownership. So, what are the options?
Exploring Your Housing Choices: Acre, Mortgages, and More
Incoming medical professionals typically consider three primary options: traditional mortgages, renting, and innovative alternatives like Acre. Physician loans, a specialized type of mortgage, also deserve consideration.
Here's a comparison to help you weigh the pros and cons:
Which Option is Right for You?
- Long-Term Stay (10+ years): If you plan to remain in the same location well beyond residency, a traditional mortgage, especially a physician loan, is likely the best choice.
- Uncertain Future: If you're unsure about your post-residency plans, Acre offers a compelling alternative. You get to choose your home and neighborhood, benefit from appreciation, and avoid the significant buy/sell costs that can erode the financial gains of traditional homeownership.
The Acre Advantage
Acre also provides valuable support during your residency. Imagine your AC fails in the summer during a demanding rotation with overnight call. Acre handles the repair, saving you time and stress…and maybe your marriage!
And if you do decide to stay after residency? You can easily transition to a physician loan or traditional mortgage, leveraging your accumulated Acre Value Share and appreciation.
Next Steps: Explore Your Options
Even if you're leaning towards a mortgage or renting, explore all possibilities. Acre's approval process is quick and easy, with no application fee or impact on your credit score.
Have questions? Connect with the Acre team. We can help you navigate your choices and even connect you with a local real estate agent. Congratulations on matching – now let's find you the perfect home for your residency!
an Acre Home
