“I am in the process of divorcing and am not sure whether or not to keep my house. Can you advise me?”
This is by far one of the most important decisions you will make concerning your divorce. Although your initial instinct may be to stay where you are for convenience and comfort, you must carefully evaluate this decision on three levels, not only short term but long term as well. A lot of responsibility comes with sole home ownership!
Financial: Does your salary or alimony allow you to cover all expenses, including mortgage, taxes, insurance, and repairs for your place? Or if you are paying alimony, will you have enough left over to do so?
Physical: Are you physically able to do the work required for upkeep without your spouse around to help, or will you have to hire someone when things go wrong? Is it close to your place of business, or near your ex if you have children?
Emotional: Can you live with daily memories of your marriage in your new single life? How will a new person feel about being in the same space?
Everyone handles things differently. Some may not want to deal with too much change at one time, but for others a new place to call your own may be the self confidence boost one needs after a divorce! A new place to decorate to your particular taste can be a lot of fun and a great way to meet new people!
Dina Lafferty is a licensed Real Estate Broker in Florida and Massachusetts. She has more than 20 years’ experience in real estate sales and marketing and specializes in southern Palm Beach and Broward County residential sales and marketing with Realty Associates Florida Properties.