Your living arrangement is among the first matters you will deal with after deciding to dissolve your marriage. So, where should you stay before the divorce is finalized?
Here are three options to consider:
1. Both of you can remain in the family home
If you and your spouse can peacefully stay in the family home, you can do so while you look for a permanent solution. It’s vital to set rules beforehand and discuss finances (how bills will get paid, how to shop for groceries and so on) to avoid disputes.
2. Sell the home
Another option you and your spouse can take is selling your house and splitting the proceeds. You can then use your shares to get separate homes.
While this option is substantially beneficial, as it allows you to have a fresh start and you can enjoy tax benefits, it may be challenging if you have children. Moving your kids from their family home before the divorce is even finalized may be challenging for them. Consider giving them time to adjust to the new life before they can start moving between two homes.
Additionally, if your spouse has no income, selling the family home may disadvantage them. Due to their credit/financial issues, they may have trouble finding a house within a short period.
3. Buy out one party
You and your spouse can agree on who keeps the family home, and the chosen party will buy out the other. This option is practical for divorcing parents, as it can minimize disruption to their kids’ lives.
These are a few examples of housing options after a divorce. You and your spouse can’t miss finding one that works for you. However, learn more about each to avoid misunderstandings.