One of the many things that you often must do following a divorce is to establish a new residence. Buying a house might be on your short list of relocation needs, but the process often is complicated in the context of a divorce.

The impact of a divorce could affect many areas of the home-buying process, like your credit and personal income. A divorce may affect the size and location needed for your new home.

Read on for some tips on buying a house after a divorce could help you to make decisions that will not lead to future regret.

Divorce Terms Could Affect Your Credit

A divorce could have a significant effect on your ability to obtain a mortgage. You might have to provide lenders with documentation showing how the divorce affects your personal income.

If you and your spouse both worked, you no longer have dual incomes that could make it easier to buy a costlier home. Instead, you likely will need to buy a home based on your income.

Any support payments that you have to make would reduce your available income. Your savings might be less than prior to the divorce, and you could have legal costs from the divorce depleting your finances.

Lenders Might Deny Support Payments as Income

You might have emerged from your divorce with custody of your children and court-ordered support payments from your former spouse. Yet, you would be mistaken in counting on any financial support as counting toward your personal income for mortgage purposes.

Just because a court orders your former spouse to make support payments does not mean it will happen. Your spouse might ignore the court order, or suffer a significant lifestyle change that makes it impossible to pay. If your former spouse were to lose a job or possibly become disabled due to a catastrophic injury, that could wipe out your court-ordered support income. You never should count on support payments as income toward your mortgage payments.

Pick a Home and Location that Works with Your Divorce Terms

You might have custody or visitation rights of any children born during your marriage or that you might have adopted together. Those terms likely include a schedule for visitation and requirements to provide transportation to and from school and extracurricular activities.

You should choose a home that will suitably house your child or children while they are with you. You also should ensure the location is convenient for custody exchanges during visitations and to support the children’s education and additional activities.

Consider the potential safety of your children when looking for a new home. If you buy a home in a bad neighborhood or even one that has a pool while you have small children, such choices might put them at risk. You should ensure the neighborhood is suitable for children and that the home is made as safe as possible for your kids.

Marlton Divorce Lawyers at Burnham Douglass Assist and Affirm Your Rights

For assistance in your divorce and all the life changes that are affected by it, contact our experienced Marlton divorce lawyers at Burnham Douglass today. Contact us by calling 856-751-5505 or filling out our online form to schedule a free consultation at one of our law offices in Marlton and Northfield, New Jersey. We represent clients throughout Camden County, Burlington County, Atlantic County, Gloucester County, Mercer County, and throughout New Jersey.