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Hi Forum,
I fully appreciate that this topic is not related to divorce, but rather house purchase. I did lose the house in the divorce, so may be relatable to some out there. Unfortunately, if I would have gotten divorced in 2010, it would be a different story as house prices were not over the moon. The timing of my divorce could not have occurred at a worst time, being smack in the middle of a housing crisis.
I have an excellent career and make a good salary. In normal circumstances (ie: pre-2016), I should have easily been able to purchase a home post-divorce. I have managed to rebuild a down payment, however, am finding that quality homes are just a "tad" out of reach. Although there are some places currently within reach, they are either dumps or in undesirable parts of town which would not be suitable for my kids. I find I am $20-$30k short of being able to land successful bids on homes. Unfortunately, borrowing from family and/or friends is not an option on the table. The fear is that if I continue to wait or prolong, the goalpost will move further again and be completely unreachable (whereby they are so close right now!)
I recall reading in the paper a in early 2022 that people were resorting to outside help, where there were companies that would help "top off" where you fall short, so that people with good jobs/salaries can obtain a house. Not sure how it works, where the company owns a stake in your house and you pay back if/when you sell house. Anyhow, if anyone has any information or advice, please feel free to shoot me a private message. Thanks to all.
I fully appreciate that this topic is not related to divorce, but rather house purchase. I did lose the house in the divorce, so may be relatable to some out there. Unfortunately, if I would have gotten divorced in 2010, it would be a different story as house prices were not over the moon. The timing of my divorce could not have occurred at a worst time, being smack in the middle of a housing crisis.
I have an excellent career and make a good salary. In normal circumstances (ie: pre-2016), I should have easily been able to purchase a home post-divorce. I have managed to rebuild a down payment, however, am finding that quality homes are just a "tad" out of reach. Although there are some places currently within reach, they are either dumps or in undesirable parts of town which would not be suitable for my kids. I find I am $20-$30k short of being able to land successful bids on homes. Unfortunately, borrowing from family and/or friends is not an option on the table. The fear is that if I continue to wait or prolong, the goalpost will move further again and be completely unreachable (whereby they are so close right now!)
I recall reading in the paper a in early 2022 that people were resorting to outside help, where there were companies that would help "top off" where you fall short, so that people with good jobs/salaries can obtain a house. Not sure how it works, where the company owns a stake in your house and you pay back if/when you sell house. Anyhow, if anyone has any information or advice, please feel free to shoot me a private message. Thanks to all.
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