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Considering North Texas Real Estate Following A Divorce?

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Divorce is something most married couples never expect, but unfortunately it happens every day. Is moving into a new place one way to ease your pain? Perhaps, but there are certain things you should keep in mind if you’re considering a new “pad” in Flower Mound or any Dallas area community. To make things easier during what is no doubt a difficult time, we have a few suggestions.

Condo, apartment, smaller home? This is a tough one, especially if you’re accustomed to the home you lived in prior to your divorce. Making the decision too quickly isn’t smart; instead, you may want to consider renting a property until you’ve carefully weighed all of your options. Once the grief and difficult emotions have passed, you can determine whether you want to buy a home or take a different path.

Location. If you and your ex-spouse share children, it’s important to keep in mind jurisdiction issues, distance from your children’s mother/father in terms of visitation or custody, and more. While you may initially want to put as much distance between yourself and your ex as possible, this isn’t always the best decision. Additionally, if you do have children you’ll want the support of family and friends following your split, which may require your staying in the same general vicinity depending on where your family lives.

Maintenance. Depending on your household role, you may want to rethink your consideration of a huge home or lot. The upkeep of a large yard can be too much for someone who isn’t accustomed to taking care of the lawn; conversely, cleaning a 3,000 square foot home can be overwhelming for someone who didn’t take care of the interior housework during the marriage.

Finances. What you can afford now may be a much different story from what you and your spouse could afford when you were together. If both of you contributed to the income, now you’re down to a single income. Child support and alimony are other factors to consider. If you are the recipient of child support or alimony, you cannot list these payments as income under federal law. If you’re the spouse paying child support, alimony, or even maintenance, a divorce can be devastating financially. It’s important to keep these things in mind so you can determine eventually whether you can afford the home you want, or may need to downsize.

At Team Nelson, we understand there are circumstances that can turn your life upside down not only emotionally, but financially. If you’ve recently gone through a divorce and need help deciding what type of property or home is right for your situation, we urge you to contact our North Texas real estate agents today.

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