You and your spouse are going forward with your divorce. However, you now find yourselves in a dilemma regarding the family home: Is it better to sell your house before or after the divorce? While no two divorces are the same, and the details of your unique situation should be thoroughly evaluated, there can be advantages to both.
For instance, selling your house before a divorce can streamline asset division and create a cleaner financial separation. It lets both parties share the sale-related expenses and may prevent the complexities of one spouse buying out the other. On the other hand, selling after the divorce and dealing with more complicated ownership arrangements in the interim can offer greater stability during the divorce proceedings when stability is really needed.
Let’s dive into this more in today’s blog post.
Benefits of Selling Before Divorce:
You Can Begin Your New Life with a Clean Slate
Selling the house before the divorce allows you to move on from the divorce. Selling the house and splitting the funds will help you start your post-divorce life with a clean slate.
You Can’t Afford the Mortgage
Paying the monthly mortgage was never a problem when you were married. However, trying to do so on a single income might be challenging after the divorce.
The House is Too Big for One Person to Maintain
It might be easier for you to start fresh in a place where the mortgage payment, yard work, and household chores will be more manageable.
You Need the Money
You might be better off selling the home and giving yourself extra funds to help with the significant transitions that come with finding a job, paying off debt, etc.
Split Any Closing Costs
Once divorced, you will be responsible for the closing costs, repairs, and other related selling costs. Selling your home before your divorce typically allows you to share those expenses and reduce risk.
Benefits of Selling After Divorce:
More Time to Improve Communications with An Upset Ex
If your spouse shows signs of resentment or anger during the home sale process, waiting until after the divorce is finalized to sell might be prudent.
It Doesn’t Cost Anything to Delay
Because equity and home values increase over time, so you need not be in a hurry to sell.
More Time to Create a Relocation Plan
Planning where to go and how to get there might be highly cost-effective.
More Time for the Kids to Adjust
Selling the family home disrupts the kids’ routines. Allowing everyone time to adjust after the divorce can help ease the stress of too many changes all at once.
The decision to sell your house before or after your divorce depends entirely on your circumstances—issues like both spouses’ financial stability, emotional readiness, and market conditions should be considered. It is advisable to hire a financial advisor or real estate professional in addition to an experienced family law attorney like our team at Christman | Daniell for your specific situation.
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Please consult an attorney for advice about your situation. The material on this website and in this or any blog article we publish are for informational purposes only and do not constitute legal advice. The attorneys at Christman | Daniell Attorneys believe in tailoring legal advice and solutions to your circumstances.
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