When children are involved it is even more complicated.
Understandably, many people make mistakes with their marital homes during divorce because they’re in a highly emotional state.
Divorce is an ending of a marriage and life as you have known it but, it is also the beginning of a new chapter in your life. Thus, it’s important to give yourself the best start possible by making wise choices.
That’s where we’re here to help! Today we’re starting a new series that is aimed at helping you navigate the uncertain waters of divorce and how they impact you as a home owner.
After Divorce, You Have Options as a Raleigh Home Owner
Everyone going through divorce needs to know all of their options and the pitfalls that may be associated with each one.
After all, choices around the marital home can come with huge consequences if not well thought out.
Here are 3 common examples of how couples first respond to the marital home when entering divorce and the consequences associated with each one:
1. One party feels guilty and wants a quick division so they negotiate a buyout with the other spouse. On the surface this seems like a good idea however, many times they realize in their emotional state they paid too much or really could not afford the house on a single income. Failing to estimate true value of the asset, all the cost associated with a future sale and the stress that will be added to their household budget by acting too quickly leads to regret and more stress.
2. Others know they do not want the house or the debt that goes with it and they fight over it like a hot potato. You take it, no you take it! Months of fighting over who’s responsible for the house can really drain any profit they may have once had to divide.
3. Many become frozen in shock, denial and fear filled because of what’s happening to them and spouses may refuse to move even if they can’t afford the house by themselves. They are so overwhelmed by all the changes, disappointment and hurt they can’t seem to make any decisions. It is hard to think with your head and make good decisions when your heart is broken. When you find yourself frozen in a sea of emotion, it’s easy and natural to procrastinate on facing the inevitable. Because of this emotional state you may end up with less than if you could have pushed through the emotions.
Check Back Next Time As We Continue Our Raleigh Divorce Series
Divorce is obviously a very painful experience for anyone to endure but that doesn’t mean you have to endure additional suffering as a property owner in Raleigh.
Next time, we’ll share with you a step by step action plan for navigating divorce and coming out on top as a Raleigh area home owner.
In the meantime, please feel free to contact us at Linda Craft & Team with any specific inquiries you might have.
Until next time,