Should I Downsize After a Marital Breakup?

After a divorce, many things change, be it living situation, finances, or family dynamics. The question is, do you downsize your family home if you don’t need to, or do you hang on and make the payments you need to make so you can stay where you are?

The decision can be made even harder if you’re currently going through a divorce, as there’s lots of emotions and practicalities to deal with. But, once you apply for a decree absolute, you can finalise your divorce and move on with your life. So, thinking about your living situation should be next on the cards.

In this post, we’re going to help you decide whether downsizing after your divorce is the right decision for you. Take a look…

Is Downsizing After Divorce the Right Choice for You?

Everyone’s situation is different, so telling you that downsizing is or isn’t right for you in this post would be redundant. Instead, we’re going to share all the pros and cons with you so you can make your own decision.

Before we do that, here’s a quick list of things to consider when it comes to downsizing your home after a divorce:

• Why would you choose to downsize your home? Is it necessary, are you happy about it? If not, could you find another solution?
• Where would you want to live if you did downsize? Do you want to stay in the same area, move far away, and maybe even live by the seaside?
• Could you afford the properties you’d want to live in? Is the type of property you’re looking for even on the market? Would you compromise for something less than perfect?

Questions like these will help you decide whether downsizing is what you want or even feasible in terms of your finances and the availability of the properties you want to live in.

The Benefits and Drawbacks of Downsizing After a Divorce

Now that you’ve asked yourself some difficult questions, it’s time to look at the reasons why you might want to downsize your home after divorce.

Pros of Downsizing Your Home

• Ease financial strain

  The most obvious reason to move from your current home to a smaller one is to save some money and take the pressure off your income. A smaller house typically means smaller mortgage payments. You could even buy a smaller house outright if you’ve paid off a large portion of your mortgage already.

  Especially at a time where money might be tight because your income has either been split in half or you’re receiving maintenance payments that don’t cover the full expenses of the house, downsizing is a great way to reduce financial strain.

• Decrease utility and maintenance costs

  Whilst we’re on the topic of saving money, a smaller property also means a reduction in utility bills and maintenance costs. There are less people using the hot water, less rooms to light, less space to heat, which really does reduce your monthly expenses significantly.

  In terms of maintenance, cleaning is done more quickly because there’s less to clean, there are fewer repairs for you to do (or for you to pay someone else to do). This will leave you with more time to do the things you enjoy doing.

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• Reduce clutter

  Most people have houses with at least some clutter, especially if they’ve lived there for a sustained period of time. The question is, how much of that is clutter and how much do you actually need?

  Downsizing to a smaller house forces you to make these difficult choices and streamline your stuff. It could even be that, if not for the clutter, you could live in a house half the size of the one you’re in now and still have as much space.

• Leave your own stamp

  Living in the house you were married to your partner in can be a bit strange. You made lots of memories there, you had a family together there, and them leaving doesn’t necessarily mean they’re out of the house.

  Downsizing after divorce allows you to have a home with your own stamp on it. You can draw a line in the sand between your old life and your new life, and really move on with the future.

Cons of Downsizing Your Home

• You’ve grown accustomed to it

  If you’ve always lived in large homes, or you’ve lived in your current home for a substantial period of time, it’s not that easy to transition to a smaller one.

  Not only that, if you have any children it will be especially difficult for them to come to terms with the downsizing. Perhaps the garden they used to play football in has shrunk or disappeared altogether, or the room they used to read in quietly has been replaced by a shared TV room, etc.

• Can make you feel like you’ve lost something

  Downsizing after a divorce can also make you feel a little defeated, like you’ve lost too much in a short space of time. No longer being with your partner is one thing, but when you lose them and your family home at the same time, it can really get you down.

  If you definitely have to downsize to a smaller home, try your best to give yourself time to get over the divorce first and leave this step until later.

• Finding a new home isn’t easy

  If you’re looking for a home in a certain area, maybe in your current neighbourhood or close to other members of your family, there might not be anything available.

  On top of that, the type of home you’re looking for might not be on the market either. Waiting until something is available is the only solution to this, but it could take a long time to finally find the house you want to downsize to.

other related articles of interest:

What You Should Get Rid of While Downsizing

Thinking of Selling Your Home? These Simple Steps Will Help

So, Should You Downsize After Your Divorce?

In this post, we’ve given you some questions to consider, and pros and cons to help you decide whether downsizing is the right option for you.

Read through the points in this article carefully, weight up the benefits and drawbacks, and make an informed decision as to whether or not you should downsize your home after divorce.

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