Tips for Buying a New Home after Divorce
A divorce is one of the most disruptive life events that anyone can experience. However, it can serve a cathartic purpose in the form of renewal and revitalization.
After the divorce, it will be your opportunity to affirm your independence and shifting to a different lifestyle may mean acquiring a new home.
If you are planning on purchasing a new home after the divorce, below are a few things to consider:
What typically obtains in a divorce is that one party remains in the house while the other seeks alternate accommodation. But in some instances, there may be an agreement to part with the current home in favour of new homes for both parties.
Choosing the right location for your new home is crucial
An ideal location should consider proximity to already established activities such as work, school, recreational and entertainment activities. You might also want to be close to the extended family that may be able to provide support as you go through this difficult time.
The environment of your new home is also important. So, before you buy, ask the following questions: Is it a peaceful area? Does it promote relaxation and optimal mental health? Is it suitable to engage in hobbies and foster new relationships with neighbours?
Your foremost goal should be to find a comfortable space for you and your family to relax and rejuvenate in an area where you can explore and make new connections.
Affording a New Home
After a divorce, it is inevitable that your financial situation will change. At the end of the process, the money you have available may increase or reduce depending on the terms of the divorce agreement. Therefore, you must assess your finances before purchasing a new home. Careful thought will determine the cost, size and location of the property as well as the time frame in which you can make a purchase.
Note that you must also budget for taxes, closing costs, and other fees that will be incurred with the purchase, as well as reoccurring expenses such as home insurance and strata fees if you are buying an apartment.
Making the Home Comfortable
Once you’ve made a purchase, there are simple things you can do to make your new property feel like home. You can hang art or photos, paint the walls in colours that uplift your mood and display items that remind you of happy times.
If children are involved, get them to help you decorate as this will help them feel a sense of ownership about their new home where new memories will be made.
How can a divorce lawyer help?
If you want to make sure your financial affairs are in order following a divorce, it would be wise to consult a divorce lawyer. A divorce lawyer will help you to reach a fair divorce settlement that leaves you in the best possible financial situation.
Do you need a divorce lawyer in Toronto?
If you are searching for a divorce lawyer in Toronto, contact us at Baker and Baker Family Law.
At Baker and Baker Family Law, our Toronto divorce lawyers are committed to helping our clients be financially secure so that they can provide for their needs through the transitionary period of a divorce.
Give us a call today to schedule a free legal consultation with one of our Toronto divorce lawyers to discuss your case. Let us show you how we can help.