Buying a new property when you have little idea about what the next year is going to look like, let alone the next decade, is almost impossible.
Divorce is emotionally and financially draining. If you are going to make big changes in your life, you will be in a stronger position to deal with them if you have given yourself a little recuperation time before you embark on more upheaval.
Our advice to buyers is generally to think long-term; but when advising newly separated clients, our advice can be frequently the exact opposite – think short-term. Flexibility is the key, keep your options open, and give yourself a chance to start thinking clearly before you rush into something.
The current property market, with prices relatively stable, actually plays into the hands of those going through a divorce. We would strongly suggest that newly single purchasers consider renting in the short term – little to have to to get back into a runaway market is at least one piece of good news.
When you are ready to commit to buying somewhere new, consider the advantages of using a Property Finder to represent your interests at this trying time, or indeed if you are buying a house as a result of a split, be aware of the potential pitfalls. We can also help you find that rental.
Please do give us a call to discuss the options.
With one in three marriages ending in divorce, it’s a sad fact that a significant number of property sales and purchasers in the current slow market are as a result of a failed relationship. If you have found yourself in the position of the buyer of a house resulting from a...
Stacks also has the following practical advice for newly separated purchasers: Remember that this is probably not how it will be forever.The chances are that new relationships will flourish, new opportunities will arise, so in the short term: Don’t flee: Location is almost certainly your main priority and, whilst the initial temptation maybe...
The main drivers for properties coming to the market are traditionally the 3Ds – Death, Debt and Divorce. Debt is playing less significant role as low interest rates mean that property owners are less likely to find themselves unable to pay their mortgages. Death is more low-key as there is a...
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When making probably the most important financial decision of your life, it pays to have the right advisors at your side.
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