Recognizing the Need For A Divorce

Getting Divorced? Think About These Things When Requesting To Keep Your House

28 September 2018

Jackson Robinson

One part of the process when getting divorced will be dividing the property that you own jointly. However, the most expensive and difficult item to divide is going to be your house. If you have a desire to keep living in the home, there are some things you need to think about to make sure it's the best decision possible.

Is Keeping The House Necessary?

The first thing you'll want to ask yourself is if keeping the house is really necessary. Many people have an emotional attachment to their home and want to keep living in it, but that emotional attachment can get in the way of what is best for you.

If you and your spouse have kids, and you are taking full custody, keeping the house would be ideal so that your children's lives are not disrupted. However, spouses without kids may not have as big of a need for the property, which makes the desire come down to emotional reasoning that can get in the way of making a sound decision.

Is Keeping The House Affordable?

You must realize that keeping the home will be a big financial decision, which comes at a time when your finances are going to change for the worse. A divorce means that you no longer have two incomes supporting the household, which can make keeping the house impractical. You'll be paying for the mortgage, insurance, and property taxes, which can all quickly add up on a single income. In addition, you'll be responsible for all the maintenance that needs to be done in the future.

For the sake of your finances, you may be better off moving into a smaller place after a divorce, so that your living situation is practical and affordable.

Is Keeping The House Worth it?

Stop and think about if fighting for the home will be worth it in the end. From a financial standpoint, the home may have dramatically increased in value, which makes the home an investment that you can take advantage of when it comes time to sell. You can also use the house as leverage if your spouse wants it, by giving up the home in exchange for other concessions during the divorce.

No matter what choice you make, it is best to work with a divorce lawyer when such an expensive asset needs to be split between two people. Not having professional help can cause you to make a big mistake. Contact a firm, like Williams Law Group, LLC., for more help.

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