CONSIDER OPTIONS FOR THE MARTIAL HOME DURING DIVORCE
One of the biggest decisions you will have to make when you are going through a divorce is whether you want to fight for the marital home or not. While many people just assume that they will battle it out for that residence when the marriage ends, there are some instances in which you might not want to try to keep it.
First, decide if you want to live with the memories in the home. Individuals who have had a bad marriage, such as one filled with abuse, might not want the reminders of what was going on. Your mental health is more important than trying to hang on to a house that isn’t going to help you move forward, so don’t be worried about bidding adieu to the home and the memories if necessary.
Second, look at the budget. If you can barely afford the payments on the home, you might do better to leave it alone. You will have to cover all of your living expenses out of your own paychecks. You don’t need to have to decide whether you will pay the mortgage or buy groceries. Also have to think about the upkeep, insurance and taxes on the home. Economizing might not be so bad when you think about these possibilities.
Third, you might come out better if you sell the home instead of buying your ex out, so you can remain in the home. It is always a good idea to review how each decision will impact you. Look at the tax implications, as well as what costs you will have to pay.
Now is the time for you to start doing what is in your best interests. Since the divorce is a fresh start for you, take the time to be sure that you are starting your new life off on the right foot.