Can You Afford to Buy a Dental Practice?

The dream of owning a dental practice is often met with the daunting question: “Can I afford it?” Many dentists believe that a hefty savings account is the only path to practice ownership. However, this is a common misconception. The truth is, dentists are among the most favored professionals when it comes to securing loans, thanks to their low default rates and high earning potential.

Financing Your Dental Practice Dream

Banks are well aware of the financial stability that dentists typically enjoy. As a result, they are often eager to provide loans to dentists looking to purchase or start their own practices. In fact, practice startup loans are commonly financed at 100%, and if you’re considering purchasing real estate along with your practice, you can expect financing up to 90%.

Interest Rates and Loan Terms

Interest rates for dentists are generally favorable, reflecting the confidence lenders have in the dental profession. This means that the cost of borrowing is lower, making the financial burden of a loan more manageable.

Homeownership and Practice Ownership: A Dual Possibility

If you’re under the impression that you must choose between buying a home and a practice, it’s time to reconsider. Special programs exist for dentists that offer home loans with 0% down and no private mortgage insurance (PMI) required. This opens the door to simultaneous homeownership and practice ownership, without the need to compromise on either.

Student Debt Shouldn’t Deter You

Concerned about student loans? Don’t be. The presence of student debt doesn’t preclude you from buying a dental office. Lenders understand the investment you’ve made in your education and are willing to work with you to find a loan that fits your financial situation.

Taking the First Step

The key to unlocking these opportunities is to start the conversation with financial institutions. At PeerDent Solutions, we specialize in guiding dentists through the financial maze of practice acquisition. We’ll help you understand what’s possible, what’s available, and how to navigate the financial landscape to secure your future in dental practice ownership.

Remember, you won’t truly know what you can afford until you explore your options. Let us at PeerDent Solutions be your ally in this journey. Together, we can turn the dream of owning your dental practice into a reality. Reach out to us, and let’s start the conversation today.