Going through a divorce is never easy, especially when you’re uprooting your entire lifestyle unexpectedly. If you’re dealing with a divorce while attempting to find a new place of your own, there are a few tips to remember along the way. The more familiar you become with the process of investing in real estate after a divorce, the easier it’ll be for you to find a suitable residence for you at any point in your life.
Research Waiting Periods
In Colorado, those who wish to file for divorce will be required to undergo a 90-day mandatory waiting period. Even if you’re filing a divorce due to infidelity or another issue that has voided your marriage, you’ll likely need to wait at least three months for the divorce to be finalized. Do research on your state’s regulations to make the process easier.
Consider the Aesthetic You’re Going For
By 2028, it’s estimated that the home decor market will exceed more than $800 billion, according to Business Wire. When you’re in the market for a new home even after filing for divorce, you’ll want to consider the vision and aesthetic you have in mind for your new space. The more familiar you are with home styles, design trends, and various types of decor today, the easier it’ll be for you to find a home that is just right for the next new chapter in your life as a single person.
Choose the Right Time in the Market
Choosing the right time to enter the market when you’re buying a new home is also essential. If you’re shopping around for a home after a divorce in a seller’s market, you’ll likely overpay for any home you’re interested in. Always remain cognizant of the current interest rates and various global economic factors that directly impact the real estate market in the United States before you decide it’s time for you to invest in a brand-new home of your own.
Inspect Your New Home’s Roof Ahead of Time
Whenever you’re buying a new home after a divorce, you’ll want to conduct a thorough professional inspection of its roof. The roof is one of the most important and integral components of any home, and it can also be one of the biggest investments you’ll need to make as a homeowner or real estate investor. Traditionally, a standard residential asphalt roof will often last anywhere between 15 and 25 years in total.
Conducting a thorough roof inspection before moving into a new home is always important to prevent major issues or expensive repairs as soon as you move in. Thorough inspections of all areas of your new potential home will not only protect your investment while saving you money, but it’s also a way for you to maintain your peace of mind, especially as you’re simultaneously coping with a separation or divorce.
Work With Your Preferred Attorney
Working with an attorney you trust is always preferred when you’re interested in house-shopping after a divorce. A professional attorney will walk you through the process of investing in a new home. You can also learn when the time is right and which deal is best with proper legal counsel.
Buying a new home after a divorce is a way for you to get back on your feet as you rebuild your life independently. When you’re familiar with what to expect while purchasing a home, when the market is right, and how to retain legal counsel, you can move forward with your decision knowing you’ve made the right choice. The more informed you are about buying homes and investing in property after going through a divorce, the more likely you are to end up in a location that will offer you the most ROI, or return on your investment.