This survey by The Wealthy Dentist asked about a major dental practice management expense. Do dentists lease or own their dental real estate?
More than three-quarters of the dentists surveyed own their practice facilities.
Despite unstable real estate values across the U.S. within the past 10 years, dentists still prefer to own rather than rent.
Only 3% of the respondents own and are worried about their mortgage. The majority of dentists either own the building free and clear ( 35% ), or own it and pay a reasonable mortgage (39% ).
“Always own your property; best investment you can make.” New York dentist
“If the facility is a good investment – own it.” Tennessee dentist
“It all depends on location but generally owning the dental practice real estate affords one a greater opportunity to build wealth.” Nevada dentist
“There is security in knowing that my rent will not go up and I will not have to move due to a change of ownership.” Texas dentist
“Much better to own the right building in the right location. Problem is the right location is changing as dental practice is changing.” California orthodontist
Fewer than one quarter of our dentists rent their facilities, with 10% on a long term lease, and 13% on a lease expiring in less than two years.
“Owning would be far preferable to renting, but unfortunately my landlord won’t sell. Real estate is very limited in my area.” California oral surgeon
“Tenant improvements (and repayment) are the real killer!” California dentist
Do you think it’s better to own or rent your dental practice real estate?