Well said, sduuuuude. I had been divorced and it’s enough upheaval and it takes a lot of time until you REALLY sort all kinds of things out – within yourself and with others. With kids, that makes at least twice as complex, I can only guess. You don’t need the stress of looking for, submitting offers, buying & remodelling a house, especially if you are single parent. You really have to have a very clear, non-stressed head when you buy, to not be preoccupied about other stressful things. Right after divorce, and selling your current house – that’s enough stress without adding to it worry about your purchase if you have to sell at some point for whatever reason, or if the prices go south, or if you take a paycut or whatever. Even if the market would be relatively flat & long bottom I’d still suggest you rent.
Think also about the emotional support you need to provide to your kids, and extra time involved. You don’t need your mind on other time-consuming things – as a house purchase. Make it as least stressful and as painless as possible. One thing at a time. First, REALLY adjust to the life as a divorced mom. That would take at least a year, then you can re-visit the idea of purchasing a home with a clear head. So… RENT.
Another useful advice: Rent something nice so you feel pretty good in this home, because you need that after a divorce, you don’t need anything else that makes you unhappy/sad/annoyed. Rent something as nice as your current house, even if a bit smaller. Even if the rent is a bit higher than a mortgage, if the place is worth it go for it (but negotiate down if you can). After all you probably won’t be in that place more than 1-2 years, so that extra cost is worth at this time in your life.
