Advice for Homebuyers Who Are Recently Divorced

Divorce is never a fun topic to discuss. However, when it comes to where you’re going to live, you need to know what steps to take in order to accomplish your goals.

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Our subject matter today isn’t the most fun thing to talk about, but it is necessary. After you go through a divorce, your mind eventually shifts to your living arrangements. You may be renting for now or you may not have even sold your shared home yet, but the time is going to come for you to purchase a new property. I’ve got some tips for you today on how to accomplish this task.

The first thing you need to do is check your budget. Your income has likely changed, or at least your shared income has. You may also have additional payments like alimony or child support to take care of now. This isn’t a bad thing, it’s just merely a reality check of your current situation.

Next, we need to get you in front of a lender to get a better picture of what your budget is. Once we know what that is, we can go out and help you start the home buying process.

Don’t buy a home as a kneejerk
reaction to your situation.

Another thing we need to consider is that when you were married, you and your spouse were both probably listed on the mortgage. To protect your credit, it’s a good idea to remove yourself from the shared mortgage. In the eye of the mortgage holder you are still liable for missed or late payments if your name is on the mortgage.

The last thing we should consider is your emotional state. It’s going to take a lot of energy and emotion out of your system. Before starting the process, we have to make sure it’s the right time for you to be looking at buying another home. Don’t let buying a home be a kneejerk reaction; you need to plan your purchase and it might not be the right time.

If you have any questions for us or would like our help in finding a home, we are happy to help. All you’ve got to do is give me a call or send me an email. I look forward to hearing from you soon.

Don’t Make These 3 Mistakes When Buying a Home

When you buy a home, there are three major mistakes that you need to avoid
in order to meet your real estate goals.

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There are three major home buying mistakes that you need to avoid.

1. Refusing to confide in a trusted advisor. As your real estate agent, I am your trusted advisor. I’m a third party. I am neutral. I am Switzerland when it comes to buying your home. My team and I have been in real estate for a long time and have dealt with all kinds of different scenarios, so it’s very rare that we come across something we haven’t seen before. If you’re thinking about something, please confide in me as a real estate professional. We have a fiduciary relationship, which means that it is our legal responsibility to have your best interests in mind.

Don’t make any big purchases before
you buy your home.

2. Altering your financial picture before closing. Don’t do that! Don’t go out and buy a new boat or a new car. Don’t do anything that will alter your debt to income ratio. If your DTI shifts a couple percentage points because you thought it was okay to get a new Honda, you could lose the home.

3. Buying the wrong house. Buy what you need, not what you want. We all want a big house on a lake, but in reality, you should only buy what you absolutely need. This is just another stage in life; at some point, you will get to that ultra-awesome house, but for now, just buy what you need. You still have to heat it, clean it, and pay for it. I know from experience that buying what you want is not always the best choice.

Avoid these three mistakes and you will have a successful, enjoyable home buying process. If you have any other questions about real estate, just give me a call or send me an email. I would be happy to help you!