We separated a year ago and are in the process of finalising the separation which will mean we sell the family home or I buy him out. Can I ask what others have done and whether you had any regrets with either decision? I can afford to buy him out but I’m not sure if I should just cut all ties and start new. Selling costs and stamp duty in Victoria are huge so that’s a factor to consider when selling. But then I’ll have to go and rent somewhere. If I keep the house, I have the maintenance and upkeep of a large family home that I’m not sure I want long term. So torn by this decision. Would love to hear others experiences.
6 Replies
If I was you, I would hold on to it and buy him out. Once you have done this, figure out where you want to be and take time to think things through and then sell and move to where you want but for now, I wouldn’t rush. Renting will suck & finding somewhere isn’t easy. You could always even rent your home out and move to where ever you want. You’d get good rental income and have time to think things through.
I’m a single mum and I found upkeep on a rented house with a yard too much, so I bought a townhouse and I’m really happy, I find it affordable and just right for us.
If you can’t afford to keep that house or wouldn’t want to, it makes sense to sell together (unless he would cause problems) split those costs and then for you to buy a place where you would be happy and can afford and maintain.
I think you should keep it. As a single Mum myself it's really hard to get into the market on one income you risk renting forever. Also with the rental shortage ATM single mums are at the bottom of the picking order no matter what you earn or how good your history is. Keeping the house will ensure housing security which is priceless right now. You can always sell and buy something different in a few years if everything allows.
If you can, keep the house, buy him out.
You can decide later if you want to sell but having that asset/stability in this current environment is priceless, especially as a single mum.
I would look at house prices and rentals in the area you want to live and go from there.
Where we are there are no nice house in our price range, so I wouldn't be able to buy without extensive renovations and rentals are very rare, with at lease 20 families going for the one rental.
So for me personally I was buy him out and stay in the house, you can always sell in the future
We sold a great house & i down sized to a townhouse.I regret it daily! Take your time deciding