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 with 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 for payments.
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.
Contact Our Orange County Divorce Attorneys Today
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 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.