Law Offices of Hollie A. Lemkin, APC
Call For A Consultation

Are you making the right decision about the marital home?

The marital home is a source of pride for many married couples. If a couple decides to get a divorce, that same home might become a huge source of contention. If you are heading toward divorce or getting ready to go to a property mediation session, you should think very carefully before you decide that you are going to fight for the marital home.

Even if there are good reasons why you want to keep the home, you have to think practically. Considering the following factors may help you decide whether to seek ownership of your home.

Stability of the market

The real estate market has its ups and downs. When the market is up, keeping the house might seem like an excellent idea. When the market is down, it might seem like a bad choice. Looking at the long-term market predictions in the area and the past performances of the market might help you sort out your options.

Your finances

Your finances are big consideration when you are trying to decide if you are going to fight for the home. If it has a mortgage, you have to be sure that you can cover the payments. On top of the mortgage, you also have to make sure that you can pay for the insurance and taxes on the home, the upkeep costs and any repairs the home might need. Homeowners' association (HOA) fees and related expenses also have to be considered. As you can see, even if there isn't a mortgage, keeping the home can still be a big drain on your finances.

Remember that you won't have your ex's income to count on after your divorce. You don't want your home to be a source of stress when you are trying to get accustomed to living single again.

Your needs

Thinking about your needs — both present and future — can give you an idea of whether you should fight for the home or not. You might need a large home if you have several children and need the space. Alternatively, you may realize that you don't need a huge house any longer once only you will be living in it. In this case, putting the home up for sale or having your ex buy you out while you find a smaller place might be a better idea.

No Comments

Leave a comment
Comment Information

Contact The Firm In Costa Mesa

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Contact Us

COSTA MESA, CA 92626-7122

Phone: 949-734-4788
Fax: 949-340-7368
Map & Directions