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Several Things to Consider When Purchasing a Home After a Divorce

First things first, an intensive review of your current financial status is a must.

Second is to look into getting a mortgage pre-approval before running around aimlessly looking at houses.

This will give you a great sense of what you can and cannot afford. Getting a pre-approval letter can also give you greater credibility with sellers when putting in offers to purchase.

Analyze what area or areas you may want to consider. If you are the parent that the children will be residing with full time, kid friendly communities and schools may be important. Even if you are the non-custodial parent being close to where your children currently reside will probably be high on your list.

If you are coming from a house, you may want to continue living in a possible smaller single family house if your budget allows, and children will not be a factor.

Condos and co-ops are a great option if there are budget restraints and one doesn’t want or have the time or resources to maintain the upkeep a house will require.

After careful consideration of what your needs and expectations are for your new home, the next step

would be to work with a real estate agent when you are ready to buy. An experienced agent can help give you an overview of the market, guide you during the process and advocate for you as a buyer.

The process can feel overwhelming at times, but is a necessary step in the process of rebuilding your new life.

By Lisa D’Annibale
Buyer Agent for Cloud 9 Homes Team

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