You and your soon-to-be-ex-spouse blended your lives in Florida while married, but now you must divide your assets and property. What do you plan to do with your marital home?
U.S. News & World Report explores options that may appeal to you. Learn how to set yourself up for success for the next chapter of your life.
Sell in the months or years ahead
If you and your ex have shared kids, you may not prefer selling the home yet to provide them with stability, or your area’s current housing market may not favor sellers. Either way, selling the house later may offer the most favorable option. In the meantime, decide how you want to divide equity when you do sell.
Sell ASAP
Perhaps you do not have shared children, or you live in an area with a great real estate market. You could sell your home now, but consider the cost of upgrades that your property needs and the commission you may owe a real estate agent. Further, think about divorce and post-divorce expenses. Careful budgeting may help maintain your financial health while you transition to life as a single person.
Nest
With shared kids and a crumbling relationship with your ex, remaining in your marital home for the sake of your children may require finesse. You could nest, wherein one parent remains in the home with the kids while the other parent lives in a shared apartment that you and your ex-partner pay for together. This way, you do not have to uproot your kids’ lives, nor do you have to endure bad blood between you and your former spouse more than necessary.