What should you know about keeping the house post-divorce?

| Aug 17, 2020 | Divorce |

Divorce brings an upheaval of emotions and life changes. Have you decided whether you want to remain in your marital home in Texas? 

Learn how recent times favor the spouse who wants to keep the home post-divorce. Depending on your circumstances, you could have a better chance of staying in your property than you think. 

Children and courts

If you and your soon-to-be-ex-spouse share children, you may have an easier time holding on to your marital home. Specifically, the primary parent often receives priority when courts decide who gets to keep the house. While mothers often become the primary parent in divorce cases, fathers should still fight for their rights to gain custody of their children. 

Buying out a spouse

Do you think that you cannot afford to buy out your current spouse to remain in the marital home? If so, consider hiring an appraiser to value your residential property. Besides a lower-than-expected amount, you may also qualify for low-interest financing, a combination that can make it easier for you to buy out your partner. 

Monthly housing costs

If you feel confident about buying out your spouse, determine whether you can afford all the costs involved with maintaining the house. Besides accounting for all regular household bills, taxes, insurance and maintenance, consider whether your current salary allows you to cover everything. You may receive alimony or child support during the divorce, so factor those income sources, too. 

Think about whether it makes sense to fight for your marital home. At the end of the day, you may be better off downsizing and starting the next chapter of your life in a smaller home, a condo or an apartment.