I'm divorcing in my 50s. Should I buy again or rent for a while?
Answered by Chris Deutsch, Founder & Editor
Licensed Minnesota Realtor #20382264 ·
The short answer
Renting for a year is often the smarter opening move. Not because of your age — because time is information, and right after a divorce you're short on both.
On stage The 60-second answer
Captions on · Transcript below
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The transcript posts with the video.
The longer answer
A year of renting lets you learn who you are on your own before committing 30 years of mortgage to it. That's not a step backward; plenty of people I've worked with rented first and then bought smarter. Buying again makes sense when three things line up. The equity from the marital house is sitting idle, and you know where you actually want to be. The payment fits one income with room to breathe. One trade-off deserves a direct look: a mortgage that runs into your 70s. Look at it straight on, not around it.
Your attorney owns the decree and your financial advisor owns the retirement picture. I own the housing math. Bring me the number the settlement leaves you, and we'll look at both paths side by side. No clock running.
The next department over
What people in this spot usually ask next.
- Divorce & separationWho pays the mortgage while the divorce is going on?Read the answer
- Divorce & separationIs it better to sell before filing, during the divorce, or after it's final?Read the answer
- Divorce & separationHow is the equity in our house actually calculated and split?Read the answer
- Divorce & separationCan we sell the house while the divorce is still pending?Read the answer
- Relocation to the Twin CitiesShould we rent first or buy right away when we relocate to the Twin Cities?Read the answer
- Senior transitionsShould we rent out the house instead of selling it to pay for care?Read the answer
From the editor's desk
“As Founder and Editor, I review, correct, and stand behind every answer.”
Is your situation more specific than the market? That's the one worth talking through.