Buying or renting?

NoMarriageNoKids · 2022-02-04T23:33:23+00:00

I would fight to keep the home and have her move out and find her own place.

SireSweet · 2022-02-05T01:42:59+00:00

I would wait until your divorce is settled, then find a place to buy. Rent until then.

If you buy before you'll probably going to need to sell it right back on the market.

JonathanApple · 2022-02-05T15:16:52+00:00

I rented until divorce was final then bought. Just to be safe. Probably best idea.

ToddPackersBrother · 2022-02-05T00:05:31+00:00

Oh the early phase.

Has a judge signed off on this 50/50? Until then, you stay put.

azwildcat74 · 2022-02-05T01:19:18+00:00

Think hard about giving up the marital home. If things get ugly in the divorce at times preference can be to the parent in the marital home so as to minimize disruption on the kids.

That said, my ex and I came to an agreement on finances out of court and I fronted her $80k to buy a house just to get her to move the fuck out. We ran everything through the lawyers so that I could make sure my ass was covered. I had to be on her deed as we were still technically married so we had to do a quitclaim later but that's a fast an easy process and it keeps you in a little leverage if she tries to reneg on stuff and it all goes sideways.

TheRealDrWan · 2022-02-05T03:18:56+00:00

In a fair scenario it’ll all get figured in.

Half of the money you put toward your down payment will come back to her one way or another.

Buy or rent makes no difference in the context of divorce.

What you need to do is make the best decision that you can for you and your kids.

You’re about to be out in the wilderness on your own.

What would you do if you suddenly found yourself single with two kids? Because that’s what you need to do.

Don’t worry yourself about the possibility of getting a few extra dollars out of the settlement. Move on, take your lumps and concentrate on being a good dad.

Gattsama · 2022-02-05T06:34:18+00:00

Rent, the market is over priced currently, there are fewer than average properties on the market. Yes, interest rates are also at an all time low, but it's more likely in the next few years prices will drop and you get pick up a property for less; then refinance for a lower rate down the line.

BUT, it really comes down to what available where you live and best for you and the kids.

Islandboy2000 · 2022-02-05T19:53:32+00:00

Bear in mind that once the court proceedings begin, there will be a freeze on all assets and cash. Neither of you will be able to drain accounts or sell property.
And I’ll echo what others have responded with here too: once attorneys get involved, then expect your previous arrangements and agreements with your wife to change (to her benefit). So be very cautious about leaving the marital home.

If you don’t want the house, then consider selling it right now. In this hot market, it could be sold in under 45 days. This gives you two benefits. 1) It makes a clean and easy break from that big asset and the liquidation gives you an influx of cash. 2) And then with you living apart, you can immediately begin the 50/50 custody arrangement.

Pro tip: judges like to keep the status quo, especially at the initial hearing that sets up the temporary order that will remain in effect during the proceedings. And you guessed it… what ever the temporary order states, is typically how the final order looks like.

To your question about renting vs buying, that’s tough to answer without knowing your entire situation. I would lean towards renting as that is the standard advice given to anyone who is unsure of there situation 12-24 months from now (regardless of their relationship status). While renting seems more expensive, it does give you lots of flexibility and there is less maintenance and headaches. Do you really want to be dealing with yard work, HVAC issues, or a water tank problem at this stage of your life? Heck no! Use the spare time to play with your kids, enjoy hobbies, and to prepare for your case.

TrollCityBlunder · 2022-02-11T01:14:38+00:00

Rent bro. Even if you have the money, the housing market is too high

dad_bod_cargo_shorts · 2022-02-04T23:49:25+00:00

You should look at the cost of renting vs buying. By me, rent would be the same as a mortgage BUT (and it's a big but) that includes putting a decent chunk of cash as a down payment.

Also, is there a chance she would try and move away? Harder to do if the kids are already established in school, but easier if they're little and she comes up with a reason to move.

Delcium1 · 2022-02-04T23:51:16+00:00

If you use joint money, she'll just get it back. I would probably rent somewhere for 6 months then buy a place if you still want to. Since they're both boys, they can probably handle sharing a room for a lurk little bit until the divorce is settled and you know what you can afford.

WarChildMKIV · 2022-02-05T03:55:14+00:00

Do everything after, plus joint money is not your money.

whatskeeping · 2022-02-05T05:18:16+00:00

Can't buy it before divorce, my area she'd be on the title by law. Rent, wait.

Responsibility140 · 2022-02-05T05:27:36+00:00

Rent.

pegleg_legal · 2022-02-07T01:39:41+00:00

This is a financial question much more than a legal one. If you're not going to force the sale, then make sure you get a good idea where the market is going before you buy into it.

Title	Buying or renting?
Author	Sentosa14
Upvotes	4
Comments	28
Date	February 4, 2022 11:25 PM UTC (4 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/skrotn/buying_or_renting/
Archive Link	https://theredarchive.com/r/Divorce_Men/buying-or-renting.1099703 https://theredarchive.com/post/1099703

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