I’m contemplating moving out of the house that i share with my ex-partner. She’s got a friend who is in a similair situation and they’ve decided to move in together. Prior to this, I’ve been thinking about staying on by myself or with a housemate.
The first option means taking the mortgage on by myself which is feasible but will reduce my flexibility especially since i’m contemplating a job change to a more interesting but less well paying and far less secure job.
The second option is not emotionally appealing. I bought the place to make a home of it with my ex-partner. Thinking about sharing this space with someone else is too painful. I doubt that pain will pass soon and while the pain exists, I have no motivation to renovate or even spend much time in it. On many levels, owning the house is now pointless.
However, from an entirely different perspective, the house can be quite useful. The thing is, the house is in my name entirely and I fronted up with all of the deposit. Our informal agreement (ie not legally recognised or recorded) was that the property would be ours in proportion to the amount of money and time we put into it.
Anyway, moving out, provided i find shared accomodation with cheapish rent, means that I can shape the rent I get from my ex and her housemate so that I can negative gear the difference and provide them with reasonably priced accomodation (with all contributions from my ex and her housemate going into her stake of the property). Also, any maintenance and renovations can be depreciated and I can also claim rates and other expenses.
Of course, I have to afford my rent and the negative geared expenses to start with but with some budgeting, I should be able to do it.
What does this mean to me? On the whole as far as the mortgage is concerned, providing I get a cheap rental place, I wont be out of pocket. As far as other expenses are concerned, i’ll gain. That’s all good but i cant ignore the fact that on some deep level I feel that so long as my ex is staying on in the home i bought for us, still making it her home, all those years of us being together, all the effort we’ve put into our relationship, all our dreams about what we wanted to do to the place hasnt been completely wasted.