Buying a home alone after a divorce at 50 or older in Colorado

Should you buy a condo, a one-level home or a house?

Pick by what you will still use at 70. Stairs, a big yard and a roof you climb to clean gutters are the costs that grow. A ranch home, a first-floor condo or a townhome with the exterior covered by dues keeps you in control of the work.

• Lock-and-leave condo. The HOA handles the roof, siding, snow removal and landscaping. You leave for three weeks and nothing needs you.
• One-level ranch or patio home. You keep a yard and a garage, and you do not climb stairs. Expect more upkeep than a condo.
• The two-story house. You keep the space and the upkeep. Move only if you want the room.

Search Colorado condos and downsizing homes in the Denver metro. If you are leaving a large house, read downsizing after divorce and from a house to a condo.

What does each option cost per month for a solo owner?

The example uses 10 percent down and a 6.5 percent example rate. Taxes, insurance and dues are examples. Your lender prices the real numbers.

Does a lender count Social Security, pension and retirement withdrawals?

Yes. Fannie Mae counts Social Security, pension and required minimum distributions when they are documented and will continue at least 3 years. Retirement account withdrawals count when you show a history of taking them and enough balance left to keep taking them for 3 years. Maintenance you receive counts when the decree shows 3 years of continuance, and the maintenance worked example shows how the amount is set. Support you pay is a debt in the ratio.

Read gray divorce retirement income in Colorado and retirement and pensions in divorce to see what your share of the accounts pays each month.

What is asset depletion income?

Some lenders divide eligible retirement or investment balances by a set number of months to create monthly income for the loan. It helps a buyer with a large balance and a small paycheck. Programs and divisors differ by lender, so your lender confirms which one applies. Mike Oswald, VP of Mortgage Lending at Rate, NMLS 261003, Equal Housing Lender, can run it on his lender page. You are free to use any lender.

Should you use your IRA or 401(k) as the down payment?

Rarely. A withdrawal from an IRA before age 59 and a half carries income tax plus a 10 percent penalty, and the money leaves your retirement. A transfer under a QDRO follows separate rules. Use your equity buyout first, as the buyout calculator shows, and confirm any retirement withdrawal with a CPA.

What is a reverse mortgage for purchase?

At age 62 or older, a home equity conversion loan for purchase lets you buy a home with a larger down payment than a standard loan and no required monthly principal and interest payment. You must live in the home, and taxes, insurance and upkeep stay yours. It fits a buyer with cash from the marital home and a modest income. Ask a HUD-approved counselor and your lender to explain the terms before you apply.

Does Colorado give older owners a property tax break?

Colorado has a senior homestead exemption that lowers the taxable value of a home for owners who are 65 or older and have owned and lived in that home for 10 years. A home you buy this year does not qualify until you reach 10 years, so do not count it in your budget. Confirm your status with your county assessor.

What about 55+ communities?

Age-qualified communities set their own age rules in the covenants, and a single buyer can purchase in one. Read the rules on guests, rentals and dues before you write an offer. Browse 55+ communities by area and compare them with Highlands Ranch and Castle Rock homes.

How much cash should you keep after closing?

Keep 6 months of full housing payments in cash after closing, about $18,300 on the condo and $26,500 on the house in the table. On top of that, keep an emergency fund. Retirement accounts are not your emergency fund.

What should you check before you tour?

• Stairs. Count them from the garage to the bedroom and the laundry.
• Roof age. A roof past 15 years in Colorado hail country needs a price adjustment or a new roof.
• Daily errands. Time the drive to the grocery store, the pharmacy and your doctor. Under 15 minutes keeps the week easy.
• Parks and trails. A trail within a mile gets you outside without a car.
• HOA budget. Ask for the last two budgets and any planned assessment.

Should you keep the house or move?

Compare the two in writing. The sell or downsize page and the keep the house page give the math, and the gray divorce guide and the divorce after 50 guide cover the rest. Pull the qualification rules before you tour.

Where to go next

• Divorce after 50: the full guide
• Downsizing after divorce
• 55+ communities by area
• Women and divorce in Colorado
• Men and divorce in Colorado
• Free buying after divorce guide

Talk to us before you sign anything

The Kenna Group, with Damon L. Chavez, Certified Residential Appraiser, and Brian Lee Burke, Colorado broker since 2003, will price the marital home in a written Smart Pricing Report if it is still unsold, run your payment with the lender and set up a condo or one-level search on kennarealestate.com. Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree. Free and confidential. You do not need to be ready to buy.

Quick answers

Plain-language education from a Colorado real estate group, not legal, tax or financial advice. Numbers are as of September 2026. Disclaimer.