Rent or Buy When Relocating to Central Florida as a Doctor? What Most Physicians Get Wrong

Relocating as a doctor can be a daunting experience, especially when deciding whether to rent or buy a home in Central Florida. The decision isn't just about finances; it's about lifestyle, family needs, and long-term career goals. In this blog, we'll delve into the common misconceptions doctors have about relocating to Central Florida, particularly around AdventHealth Orlando and Orlando Health, and help you make an informed choice.

Is Renting or Buying More Beneficial for Doctors Relocating to Central Florida?

When doctors move to Central Florida, particularly to areas near AdventHealth Orlando or Orlando Health, they often grapple with whether to rent or buy. Each option has its benefits and drawbacks, and the right choice depends on individual circumstances. 

Renting: Flexibility and Less Commitment

Pros:

• Flexibility: Renting offers the flexibility to move easily if your job situation changes. This is especially useful for doctors who are new to the area or may change hospitals.

• Lower Initial Costs: Renting typically requires less upfront investment compared to buying, which can be advantageous for those still paying off medical school loans.

• Maintenance-Free Living: Many rental agreements include maintenance services, which means less hassle for busy physicians.

Cons:

• No Equity Building: Rent payments don't contribute to property ownership, which can be a downside for those looking to build wealth through real estate.

• Potential for Rent Increases: The rental market in Central Florida is competitive, and rent can increase significantly at lease renewal.

Buying: Long-Term Investment and Stability

Pros:

• Equity and Investment: Buying a home allows you to build equity and can be a solid long-term investment.

• Stability: Homeownership provides a sense of stability, which is ideal for doctors with families.

• Tax Benefits: Mortgage interest and property taxes may be deductible, providing financial benefits.

Cons:

• Higher Upfront Costs: Buying a home requires a significant initial investment, including down payment and closing costs.

• Maintenance Responsibilities: As a homeowner, you'll be responsible for maintenance, which can be time-consuming and costly.

How Do Neighborhoods Like Thornton Park and Baldwin Park Compare for Doctors?

Choosing the right neighborhood is crucial. Two popular choices for doctors relocating to Central Florida are Thornton Park and Baldwin Park. Both offer unique advantages.

Thornton Park

Located near downtown Orlando, Thornton Park is a vibrant area with a mix of historic charm and modern amenities. It's perfect for young professionals and those who enjoy an urban lifestyle. 

• Proximity to Hospitals: Only a short drive from AdventHealth Orlando, making it convenient for hospital shifts.

• Lifestyle: Known for its trendy restaurants and boutiques, it's a lively place to live.

• Community: Offers a tight-knit community feel, ideal for networking with other professionals.

Baldwin Park

Baldwin Park is a master-planned community known for its family-friendly environment and excellent schools.

• Family-Friendly: With parks, playgrounds, and family-oriented events, it's perfect for doctors with children.

• Schools: Home to some of the top-rated schools in Central Florida.

• Housing Options: Offers a range of housing options from single-family homes to condos, catering to various budgets.

What Are Common Misconceptions About Relocating to Central Florida?

Many physicians misunderstand the real estate market in Central Florida. Let's clear up some of these misconceptions.

The Market Is Constantly Booming

While Central Florida has seen significant growth, the market fluctuates. According to 2025 data, home prices in neighborhoods like College Park and Winter Park have stabilized, offering more opportunities for buyers.

It's Cheaper to Rent Than Buy

This isn't always the case. In some areas like Lake Eola Heights, owning a home can be more cost-effective in the long run, given the area's steady appreciation rates.

All Family-Friendly Neighborhoods Are Expensive

While areas like Baldwin Park are known for higher prices, there are also affordable family friendly neighborhoods like Audubon Park, which offer excellent schools and community amenities at a lower cost.

What Are the Financial Implications of Renting vs. Buying?

Understanding the financial implications is crucial for making the right decision.

Renting

• Average Costs: In Central Florida, average rent for a two-bedroom apartment near Orlando Health is approximately $1,800 per month in 2025.

• Lease Terms: Typical lease agreements are 12 months, with potential penalties for breaking the lease early.

Buying

• Median Home Prices: As of 2025, the median home price in neighborhoods like Winter Park is around $450,000.

• Monthly Payments: Depending on the down payment and interest rates, monthly mortgage payments can range from $2,000 to $2,500.

How Can You Decide Between Renting and Buying?

The decision ultimately depends on personal circumstances, career goals, and family needs.

Consider Career Stability

If you're planning to stay at AdventHealth Orlando or Orlando Health for the long term, buying might make more sense. However, if there's uncertainty, renting offers flexibility.

Assess Family Needs

For doctors with families, neighborhoods like Baldwin Park and College Park offer excellent schools and community amenities, making buying more attractive.

Evaluate Financial Situation

Assess your financial health, including student loans and savings. If you're able to make a sizable down payment, buying may be beneficial. However, if liquidity is a concern, renting might be the better option.

FAQs

1. What are the best neighborhoods for doctors near AdventHealth Orlando?

Thornton Park and Baldwin Park are popular choices. Thornton Park offers a vibrant, urban lifestyle close to downtown, while Baldwin Park is ideal for families with its planned community amenities and top-rated schools.

2. Is it more expensive to live in Orlando Health physician housing areas?

Not necessarily. While areas near Orlando Health like Lake Eola Heights can be pricey, they offer long-term value through property appreciation and proximity to amenities.

3. How can I build equity if I choose to rent?

Consider investing in other real estate opportunities or the stock market. Building a diverse investment portfolio can help grow your wealth even while renting.

4. Are there tax benefits for renting?

Unlike buying, renting does not offer direct tax benefits. However, the flexibility and lower initial costs can be financially advantageous.

5. What should I prioritize if I plan to start a family?

Focus on family-friendly neighborhoods with good schools. Baldwin Park and College Park offer excellent educational facilities and community resources perfect for young families.

Conclusion

Deciding whether to rent or buy when relocating as a doctor in Central Florida is a significant decision that impacts both your personal and professional life. By understanding the market, evaluating your needs, and considering both short-term and long-term goals, you can make an informed decision that best suits your lifestyle. For personalized advice and to explore available properties, feel free to contact me.

Karen O'Neil | License #3511091 

Call or text 4077895565 

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