If you and your spouse have decided to get a divorce, you will have to make a lot of decisions in the near future. One of the biggest decisions you will have to make is whether to stay in the marital home or not. It is important to consider both the advantages and disadvantages before coming to a decision.
Advantages of Keeping the Marital Home
The main reason why people decide to stay in their marital home after a divorce is for their children’s’ sake. Divorce is difficult enough on children, and moving to another home can disrupt their lives even more. If you decide to stay in the marital home, it can provide your kids with some stability and comfort. They can continue to live in the only home they know. Additionally, your children can continue to go to the same school and won’t have to leave their friends behind.
If you have invested a lot of money into your home and remodeled it into the perfect living space, you may also think about staying. In this real estate market, you don’t know how much you would have to pay for a similar home.
Disadvantages of Selling the Marital Home
Maintaining a home can be quite expensive. From mortgage payments and homeowner’s insurance to repair costs, there are many expenses that come with owning a home. If your spouse was the primary breadwinner in your marriage and you do not earn a very high salary, you may not be able to realistically afford your home. You may fall behind in payments and get into financial trouble. In this case, it may be in your best interest to sell the home.
Another disadvantage of staying in the marital home are painful memories. When you sit in your house on a Saturday evening, you may just think about what your life was like when you were married. You may have trouble moving on with your life. It may be best to move out of your family home.
What to Do If You Can’t Come to a Decision
If you are having trouble deciding if you should keep or sell your marital home, you may want to speak to a divorce lawyer, like one from The McKinney Law Group. A lawyer can walk you through all of the pros and cons and help you make an informed decision.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.