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Tips for Buying a New Home After Divorce

Going through a divorce can be traumatic, stressful, and complicated. After a divorce is settled, an ex-spouse, or both spouses, must search and establish a new home. Having a new house is a significant responsibility and it represents a new, fresh start. However, it is important for new homeowners to purchase a home the correct way, and this means making sure you are financial capable of taking on this responsibility. A new home signifies support and security for your family, so it is important to consider all options while searching.

Where Should My New House be Located?

Divorces can trigger lifestyle changes that affect everyone in the family, especially children. Finding a comfortable home is important for every family member, and the location of the house is the first step to making sure your house is comfortable and affordable. Most often, new divorcees want to stay local because it is familiar, and children would not have to adapt to a new home or school; life can remain relatively the same. This may be a great option for most families. Sometimes, estranged marriages will prevent new homeowners from wanting to stay local. If you are in a difficult divorce, consider relocating.

What About My Surroundings?

The environment of where your house is located is also important. Explore your surroundings and get involved in activities. Relieving mental stress is important during this time. New homeowners should engage in hobbies, such as new house projects, to get their minds off the divorce. Getting to know the neighbors, being social, and exploring your environment will help you start a new life.

Can I Afford a New House?

The most important thing to evaluate is if you can financially afford a new home. In some cases, new divorcees have never purchased a house, so it is crucial to be well-informed before you buy a home. Think of a financial plan, save money, and be flexible while house hunting. Consider how much your mortgage and household bills will be. Depending on the state, tax discounts can be applied for single householders, so speaking with the local council can be beneficial. Additionally, new homeowners should seek legal advice from a lawyer and accountant to see if it is financially viable to have a new house. Tax returns will also be impacted by your marital status and new home.

Does Insurance Matter?

Homeowners insurance is required by mortgage providers. Also, you will need life insurance and a beneficiary in case something happens. It is helpful to plan for a devastating event, such as a disability or death, that would impact yourself and your children. Protecting your assets is extremely important.

How Can I Make My House Comfortable?

New homeowners should think of a new house as a new start. Find a safe space for yourself and your children and engage in a healthy routine once you are established. Do not focus on memories of the past and instead, focus on building for your future.

South Jersey Divorce Lawyers at Burnham Douglass Help Clients Transition into Their New Life

Our South Jersey divorce lawyers at Burnham Douglass will help you settle your divorce so you are financially able to start a new life. Our team will make sure you are able to purchase a new home. For a free consultation, contact us online or call us at 856-751-5505. Located in Marlton and Northfield, New Jersey, we serve clients throughout South Jersey, including Camden County, Burlington County, Atlantic County, Gloucester County, and Mercer County.

 

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A Message to Our Clients About Coronavirus COVID-19:

In compliance with Governor Murphy's order for businesses in New Jersey, our offices are now closed to the public. Our attorneys and staff continue to work remotely to serve all of your legal needs.

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