There is no unwritten rule that states homeownership is only for married couples or families. Even after a divorce, you can still own a home. However, if you owned a home when you were married, the shopping process is likely to be different when you are on your own. To help with the process, here are some tips you should keep in mind.
1. Meet With a Mortgage Professional
You should begin your home search with a conversation with a mortgage professional. Buying a home on your own may come along with a reduced amount of buying power. It is also worth noting, that should you receive alimony or child support, there may be different measures used for incorporating these payments as income.
A conversation with a mortgage professional helps you better assess what you can afford so that you can tailor your search and shop accordingly.
2. Incorporate Your Family in the Search
If you have children, it is important to think about the terms of the divorce to see how you can incorporate your family in the search. If your children are adults or you will not have custody of them, then this is not an issue as they may only be visitors from time to time.
However, if you will have custody, even partial custody, you should ensure that you choose a house that gives your children a permanent space, such as their own bedroom so that your new home always feels like it is their home as well. Otherwise, it could feel like they are simply coming to your home to visit, rather than them coming home.
3. Look for the Right Neighborhood
Make sure you choose a neighborhood that suits your needs. If you are an older divorcee, you may want to move into a neighborhood with a large number of homeowners who are single or childless, as you may feel more comfortable in this type of environment.
However, even if you plan to spend most of the time alone, when you have children that will stay with you sometimes, you should look for a more family-friendly neighborhood to ensure it has amenities your children will enjoy, such as a park, community pool, or walking trails.
It does not matter what your needs are, a real estate professional can help you find a property that meets your needs. Be sure to seek assistance from one of these professionals as you look at single-family properties.Share