You and your soon-to-be-ex-spouse created an abundance of happy memories in your marital home, and you may not know whether to fight for the property or give it up. What questions should you ask yourself?
WIFE.org poses several inquiries to help you decide what to do with your marital home. Learn how to prepare for the next chapter of your life as a single person.
How do you feel about the house?
Maybe you have a deep emotional bond to your marital home. Before you fight for the property, ask yourself whether living somewhere else could make you feel that same connection. If you enjoy the peace and solitude that your home provides, living in a different quiet neighborhood may replicate that same serenity.
Could you continue owning the home with your ex for a few more years?
Do you see yourself staying in Texas or your marital home for the next several years? If not, you could benefit from co-owning your property for a few more years. That way, you do not have to go through the trouble of refinancing or paying your ex her or his share of your home's equity. Holding the property jointly for a little while could outweigh the cost of getting your current spouse's name off the loan.
Can you afford the cost of homeownership alone?
You may have trouble keeping up with a mortgage and home maintenance on your salary alone. Even if you can take care of your current mortgage by yourself, would that stay the same after you refinance and get a new mortgage amount? A single home maintenance emergency could set you back considerably.
Learn where to focus your energies while dissolving your marriage. A single question may help you make the right property division decision.