When your marriage ends, you might be required to move out of your marital home. You have a couple of options: you could move in with friends or family, temporarily rent something, or buy a house during divorce. Before you do anything, talk to your Raleigh divorce lawyer. The choices you make now could affect how alimony is distributed and the division of your property in your case.
What Your Raleigh Divorce Lawyer Might Advise
Your Raleigh divorce lawyer will have a clear picture of your financial situation and will be able to give you specific information on the best course of action. If you haven’t yet moved from your home, don’t do anything until you’ve consulted your attorney.
Since purchasing a home is a major decision—one that will likely affect you for 15 to 30 years—your attorney might suggest that you meet with a financial adviser before taking the leap.
Renting vs. Buying During Divorce
We’ve all heard that renting is a lot like throwing money out the window, but sometimes it’s in your best interest. Buying a house generally requires a substantial down payment, and you might feel rushed into buying something that you won’t be happy with ten years, five years or even six months from now.
Since there are so many stresses built into divorce, purchasing a home might need to be put on the back burner—at least for a little while.
There’s No Harm in Looking
If you have the time and the inclination, you might want to get a head start on your post-divorce home purchase. Visiting open houses, scouring real estate listings and talking to friends about what’s available in their neighborhoods are great ways to stay focused on your goal, and at the same time, you’ll be getting a feel for the market. Your Raleigh divorce lawyer may even be able to recommend a local Realtor® who can help you find something that meets your needs and fits within your budget.
