| through a divorce is complicated by anyone's | | | | of a new home before official separation or |
| standards. Even if you are going through a | | | | divorce proceedings have gotten underway, you |
| relatively "easy" divorce by most accounts, both | | | | complicate the situation significantly and it could |
| you and your soon-to-be-ex-spouse will be forced | | | | backfire on you. |
| to examine every aspect of your social and | | | | 2. You purchase the new residence with money |
| financial lives as you go through the process. | | | | that belongs partly to your spouse: Make sure to |
| In the case of almost any divorce, the most | | | | buy the home with money that is very clearly |
| challenging factor that the couple has to work | | | | only yours (but that in no way belongs to your |
| through is that of deciding "who gets what" when | | | | spouse). Otherwise, you could end up having to |
| it comes to their shared financial assets. And, for | | | | pay back your spouse down the road - selling the |
| situations whereby the couple just cannot seem | | | | new house just to get the cash. |
| to see eye-to-eye on anything, the financial piece | | | | 3. Other assets have been heavily in contention: If |
| of the divorce puzzle can be the hardest to solve. | | | | your divorce is of the very contentious kind with |
| If you are considering buying a new home during | | | | lots of back and forth and fighting between your |
| divorce or separation, you are right to question | | | | attorneys or each other, it is likely that the |
| whether this is the best time to make such a | | | | purchase of a home right now is not a wise |
| purchase. Here are points to consider. | | | | move as it is likely to get embroiled in the mess. |
| Buy a New Home During Divorce or Separation? | | | | 4. You end up staying together: In the event that |
| The most critical thing to remember when | | | | you were to later decide to call off the divorce or |
| considering whether to buy a home during a | | | | end your separation, the new house (whose title |
| divorce or separation is that - if you do not | | | | would be only your name) would be a constant |
| handle things properly - you could end up making | | | | reminder of your divorce attempt. Better to start |
| a huge mistake. You could be required to sell your | | | | fresh with a new home that you buy together |
| newly-purchased home at the end of the divorce | | | | (or to stay in your current home for now). |
| process in order to recoup some of the money in | | | | What to Do |
| order to pay your spouse. Of course, this would | | | | The best thing to do in this situation is to hold off |
| be a very costly situation, since you would almost | | | | on any home purchases until your divorce is |
| certainly lose money in the process. | | | | totally finalized, your separation advances into |
| The Risk Factors in Buying a New Home | | | | full-fledged divorce, or you decide not to get |
| The risks you face in buying a new home during | | | | divorced but remain together. If you feel very |
| divorce come into play in the following situations: | | | | strongly that you want to buy a home now, |
| 1. You buy the home before you are legally | | | | consult your attorney first to make sure you are |
| separated or divorced: If you start the purchase | | | | going about it properly. |