Divorce brings significant changes for every member of the family, including where a parent and the children can live. To reduce the upheaval the kids may experience during a divorce, a Tennessee parent may consider the benefits of keeping the family home. It is helpful to know how one can make the best possible real estate decisions during and after the complexities of the divorce process.
Why sell or keep the home?
A spouse may decide to sell the home because he or she wants a smaller or more affordable place after the financial upheaval that often accompanies divorce. It may also reduce the amount one has to pay in taxes. A spouse may also want a new place to live in order for him or her to get a fresh start after a divorce.
In some cases, it may make sense to keep a family home. It can allow the kids to remain where they are, which can be appealing for a parent. However, before deciding to keep a home, it is critical to consider upkeep costs, taxes, paying the mortgage and more. It only makes sense to stay in the home if it’s affordable.
The best long-term decisions
It is not easy to make major real estate decisions during a divorce. Some Tennessee spouses may benefit from legal guidance as they consider what to do with the family home after the end of a marriage. An assessment of the individual situation can provide insight regarding the most appropriate way to handle the home and how to make the best decisions for one’s long-term interests.