Buying into a dental practice is, obviously, a big decision. And even more than most significant decisions in life, the consequences are far-reaching because every day you put into your practice, you’re building something that you can’t take with you if you change your mind later. Very few dentists, once committed, pull up stakes and change practices in mid-career.

Practice Owner

You must begin your buying process by thinking through your priorities. Don’t discount the personal passions that make your life enjoyable. If you love sailing, you’re probably not going to be happy in Arizona, no matter how great the opportunity. Factor in the proximity to friends and family, future family plans, and your significant other’s preferences to help you narrow your search.

 

Once you have settled on the general area, the primary considerations then become: where do you want to live, and how far do you want to commute? Although it may seem ideal to work in an urban center, it may increase the cost of buying a home close to the office. What happens when you start a family and need more space? That hour or two on the road commuting each day seems tolerable when considering a lovely new home far from the office, but it takes a toll over the years. It can end up having a significantly diminishing impact on your quality of life.

 

On the other hand, practices just outside the urban-suburban high-density cores can offer attractive possibilities. There is usually less competition around you. The overhead is significantly lower, not to mention the cost of living. Add in the no-stress commutes, and affordable real estate may improve your lifestyle, provided the rural lifestyle is suitable for you.

 

Getting these priorities straight is vital to your peace of mind because any compromises you make now will linger for years to come. My advice when making this momentous decision is to let your lifestyle preferences dictate where you practice, not the other way around.


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