What would you do? Dilemma!

[Wd5980]

Hey everyone

I’m (nearly!) divorced and selling the house. I have our 8 month old son 100% of the time (very messy marriage breakdown).

Selling the house and will only have about 20k equity. Initially moving in with family whilst I find my feet going back to work etc.

Really struggling to know what to do about housing. My options are

• Private rent (expensive!)
• Apply for social housing and stay with family until available
• shared ownership
• Buy a flat (although have a dog too so need a garden ideally)
• Win the lottery?!

What would you do? Find it really hard essentially going backwards as currently have a decent size 1930s 3 bed semi that we’ve renovated. Sadly can’t afford to stay here on my own.

Any advice/opinions would be really appreciated

Stay with fam and apply for social housing but keep saving in the meantime.

I am not a financial expert so not sure if there is a clear choice. Just wanted to suggest getting further advice if considering the social housing option, as you may not be eligible. Your local coucil housing department may be able to advise or Citizens Advice if it is a realistic option. Many require a long time on a waiting list or you to be homeless, staying with family may classify you as not needing social housing, that is my understanding but I may be wrong.
Best wishes for your move

I would stay with family if they are a supportive family and try and save. It would be lovely for your young baby to live with lots of loving family.

Given your circumstances, I'd squirrel the 20k around in the best, high interest rate account I could find and head to family and give myself some time to let the dust settle and get my head straight.

In some ways you are lucky because the property market is not rising at the moment, so there's no need to rush a decision. Get the social housing application in because there's nothing to lose there. But take time to think about work, babies, life etc.

Buying a property (whether outright or shared) is always a big commitment to a location, whereas renting gives you more flexibility on where your future might go. But of course, with the baby, creating a solid family base might be your priority. You need to take the time to really know what you want.

move in with family and apply for social housing.

but while you wait for the social housing, keep saving and evaluate what you really want long term. you can always drop off the social housing list if an opportunity to buy comes up.