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Hi all, first time caller here. I’m in a bit of a dilemma and thought I would throw my situation out there and see what others think I should do. Basically, my marriage is coming to an end. There are a lot of really tricky issues to sort out, one of which is to decide what to do with the family home. If I could afford to, I would buy our house and gift it to my wife, but in our current financial position I really don’t think there’s going to be any way we can keep the house…
The basics are:
Nothings ideal here, there are only bad options left (kids and all), but I’m really hoping that we have enough equity that we can both start off again separately. Ideally I would like to get enough out to buy my own property and start over, let’s say enough of a deposit to put towards a $600k house in Auckland, but I’m very worried about serviceability requirements….
Just to throw things into the mix my sister has been saving for a deposit and has mentioned she is keen on a JV.
The basics are:
- 4 bedroom house in Stanmore Bay, Auckland. GV $510,000. Approx. $360k mortgage.
- We have a fair bit of debt. (this part becomes complicated as it almost certainly won’t be split evenly (a lot of it is tied to a business)).
- I’m currently earning $75k + benefits
- 4 kids (2 are mine, 2 step kids)
Nothings ideal here, there are only bad options left (kids and all), but I’m really hoping that we have enough equity that we can both start off again separately. Ideally I would like to get enough out to buy my own property and start over, let’s say enough of a deposit to put towards a $600k house in Auckland, but I’m very worried about serviceability requirements….
Just to throw things into the mix my sister has been saving for a deposit and has mentioned she is keen on a JV.
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