Don’t buy or sell real estate right after a breakup

Bleeding heart

People do not make the best decisions right after s divorce or a death. Rebound real estate can end up being the most expensive real estate of all.

Right after the holidays, I start getting calls from people who want to move. For some of them, the move will be because of a divorce or a break up with a partner. They wait until after the holidays and then begin making plans.

Some will want to buy another house. I call it a rebound house. Please think before you buy the rebound house because it is the home purchased shortly after a divorce or the break-up of a long term relationship. The rebound homes that are purchased don’t always work out in the long run. Go out and rent an apartment and give yourself a year or so before buying real estate.

During breakups, people often look at their move as moving away from something or someone. It might be best to think in terms of moving toward something like a new life. Where do you want to be? Where do you see yourself in five years? If there is no mental picture then making a long term commitment like buying a home is not the best choice.

I have listed homes for a few people who bought the home shortly after a break-up. In each case, they felt they owned it for a short time and felt they had made a mistake. They did not look at enough homes, they got themselves in over their heads financially, or they just paid too much for what they bought because they wanted to get on with their lives and in their haste failed to do their homework.

Buying a home is a big step, please wait until you are ready to make a good decision.

Print Friendly, PDF & Email