Hedging Against My Shaky Marriage

Hi Scott,

We have $300,000 in the bank, and owe $42,000 on our mortgage. We have two kids (ages 6 and 7), but our marriage is shaky. If it fails, I want to keep the family home with my husband, and I would move, then we would split time with the kids equally. We are considering buying a block one minute’s walk from the family home, and building there. If our marriage works out, the home would be an investment. If not, it would be my home, because being close would be important for me. I am worried that if we do not buy now, we might not be able to afford to do so later if we do need two homes. What do you think?

Sally

Hi Sally,

Now I could be wrong, but here’s my theory on what’s prompted this: your marriage was already on the rocks, but you’ve inherited $300k. How else do you get to have $300k in the bank and $42k still owing on your mortgage? That makes about as much sense as your plan: your marriage is shaky … but you’re contemplating building a brand new house together?

This is a terrible idea. (If my editor allowed me to write in all caps I would, but he doesn’t, so I’ll stick with the italics, but just know that my left eye is twitching uncontrollably at the moment). After all, if you actually separate -- and I think you already know you’re going to -- who’s to say he’ll follow the plan? My advice is to sort your relationship out first -- before you commit to this big, messy purchase. The best investment you could make right now is relationship counselling.

Scott