So, you’re divorced. Now what?
Once the legal proceedings of your divorce are done and you and your ex-spouse have settled the bills, it’s time to start thinking about next steps. Specifically, it’s time to decide what you’re going to do for permanent housing.
Your first step will be to explore your financial situation and determine how much house you can afford.
Here’s how that’s done:
Step 1: List Out Your Assets and Debts. Don’t leave anything out or you’ll risk facing an unpleasant surprise when you get to step 3. The more honest you are with yourself at this step, the more successful you’ll be when you’re ready to turn your homeownership dreams into reality.
Step 2: Use an online calculator to get a ballpark idea of how your financial situation compares to the reality of purchasing of a new home. If the results look good, move on to…
Step 3: Apply for a loan. Once approved, you’ll know exactly which price range you can shop in.
Step 4: Hire a great REALTOR®, preferably one with divorce experience, like a CDRE. Hopefully, you’ve already worked with one to help you sell your marital home; if that’s the case, she can help you buy your new home too.
You’re going to buy your own home! Congratulations!
It’s time to decide which qualities your new home must have—and must not have. Moats and turrets aren’t available at every price point, so keep your price range in mind while you write your list.
Here are some qualities to consider:
Once you have a clearer picture of how much you can afford—and know what you want your lifestyle to look like—it’s time to get down to the business of actually shopping for a home. It’s time to call a real estate agent!
As a Certified Divorce Real Estate Expert, I know what you’ve been through. The past few months have been hard on you, and these next steps are critical to your financial and emotional wellbeing. I’ll work diligently to help you get back on your feet and in a fantastic new home that fits your budget (I can even refer you to great agents who can help if you want to move away from the area). Call me to schedule a free chat to explore your situation and assess how it fits into the current real estate market—there’s absolutely no obligation to move forward if you decide it’s not right for you.