Owning a Home and Protecting Your Assets

So, you’ve come this far – saved hard and managed to buy a home for yourself and your family. You’re paying your home loan on time, managing to save a little on the side and finally getting into the swing of things. Then you meet someone who you would like to date. There are major considerations to take into account before you move into together. It may not be very romantic but to protect your property and assets you need to think with your head!

You might be a blended family, or a new single couple, or one of you could have children, with the other without children. 

Too many people disregard this very important step, which is to secure your assets. This is when your solicitor comes in – they can provide a document to help keep your house protected. It may take a hard conversation, but when you have sacrificed so much for such a long time to reach your financial goals, you need to put your big girl pants on (or big boy pants on) and adult with some serious decisions. For some people who have been stung in the past this is a sad reminder of what could have been.

Some other options to consider as a “new couple” would be to rent a separate house for a while, while you rent out your “home”. This is general advice only and may not necessarily suit you so if you need to discuss this in more detail, please call us on 0403 211 361 to see if we can assist or refer you to someone who can.