Every so often, I hear from clients that their financial advisor has suggested they wait before buying a home. While there can be good reasons for this advice, it’s equally important to understand the why. Buying a home after divorce—or at any stage of life—isn’t just about today’s numbers; it’s about setting yourself up for the future. And making this decision isn’t just about following one advisor’s advice, it’s about YOU being empowered with information so you can make the best decision.
Here’s the reality: historically, homeownership has been one of the most reliable paths to building long-term wealth. Unlike rent—which increases over time and builds no equity—owning a home allows you to lock in a mortgage payment, gain from property appreciation, and build equity that can become one of your largest assets. Even in markets with ups and downs, the long-term trend has been steady growth.
So, if your financial advisor recommends waiting, here are some smart questions to ask:
1. What’s driving your recommendation?
Is the concern about cash flow, debt-to-income ratio, current interest rates, or something else? Understanding the root of the advice helps you see whether it’s a temporary hurdle or a bigger issue.
2. How does waiting impact my long-term wealth?
Ask how delaying a purchase affects your ability to benefit from home appreciation and equity growth. For example, if home values increase while you’re renting, you could miss out on thousands in equity gains.
3. What’s the plan for my housing in the meantime?
If the advice is to wait, what’s the alternative? Will renting or staying put meet your family’s needs and support your goals—or does it simply postpone stability?
4. How does this fit with my divorce or life transition?
Housing isn’t just financial—it’s emotional and practical, too. A home can provide stability, a sense of belonging, and a fresh start after divorce. That matters just as much as the numbers on paper.
5. What milestones should I meet before buying?
Instead of a vague “wait,” ask for specifics: Do you need to pay off certain debts, improve your credit score, or save a larger down payment? Having clear steps gives you a roadmap forward.
The Bottom Line:
Your financial advisor’s job is to protect your long-term financial health. Your job is to balance that advice with the reality of your housing needs and life goals. By asking the right questions, you’ll get clarity on whether waiting makes sense—or if stepping into homeownership now is the better path to building wealth and stability.
And remember—your financial advisor is just one person on your team. As your realtor, I can also provide insight into the current housing market and and what opportunities are available right now. If you’d like to explore your options and see whether buying makes sense for you today, let’s connect.
