Should I Sell or Keep the Home When Divorcing?
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Once you and your spouse have decided to end your marriage, there are a
lot of issues on the table that need to be taken into serious consideration:
the foremost being, whether or not you should sell or keep the home. Selling
or keeping your home following a
divorce is an entirely situational decision. There are certain instances in which
keeping your home may be the smartest decision to make at the present
moment--conversely, it simply may be the best thing to sell the home and
relieve both parties of that burden.
The truth of the matter is, just as everything else in divorce, it is vital
you don’t make an emotional decision. Deciding to keep the house
purely on sentimentality can be disastrous, as the house was once supported
with a dual-income. Now that you are divorced, you are likely facing a
number of financial stressors, and cannot afford to keep up with the payments
of a mortgage that is meant for 2 people. Refinancing the mortgage in
order to get your spouse’s name off of the loan is an expensive
procedure in itself, let alone surviving once you are solely responsible
However, it is also important to consider the state of the real estate
market at the time of your divorce. If you are unlucky, there may be certain
situations in which your house sits on the market, refusing to sell. The
longer your house stays on the market, going unsold, the less it is valued
at. This, too, will end up being costly in the long run.
As you can see, every divorce is set under a different set of circumstances.
Determining what to do with your home is an incredibly important decision
that should be made after serious deliberation, and the right answer varies
for everyone. and we at The Law Offices of W. Douglas McKeague can help
advise you on your best course of action.
At The Law Offices of W. Douglas McKeague, we understand how trying it
can be to endure the difficulties of a divorce. This is why our legal
team will be your trusted advocate throughout the entire process, striving
to deliver you comprehensive and compassionate counsel, care, and representation.
If you are heading for divorce and want to enlist in the help of a trusted
Orange County divorce lawyer who will ensure you are taken care of until
the end, look no further than our firm.
Contact us at your earliest convenience by calling us at (714) 888-4830.
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