People often want to learn about ways that they can keep the family home during divorce or the benefits of doing so. They don’t want to lose their home just because their marriage is ending.
In some cases, this may be the right move. It is important to consider your own situation and all the unique aspects that go into it. However, there are also some benefits to selling your house, and it’s worth your time to consider those, as well.
Your house may be unaffordable on one income
Don’t forget that you probably need a new mortgage if you don’t own your home outright. Your ex isn’t going to want you to stay on the same mortgage that you got together, and you will have to refinance under your own name, on one income. This may simply just not be affordable, and, even if you can technically afford to do it, it may be more expensive than it needs to be.
You get a fresh start
Additionally, selling your house really gives you a fresh start after your marriage ends. You don’t feel like you’re living in a home where you have all these memories of the marriage and you can’t move on. You get to go out on your own and create the life that you really want. This can be invigorating in many ways and can help you adjust.
You and your ex can divide the money that you make
Finally, selling the house makes it easy to divide the money that you earn in that sale. Whether you own the house outright or you’re just making money based on the equity you have in the home, dividing it is a fairly simple part of property division.
As you move through this process, be sure you carefully consider your rights and all the potential legal options you can use.