Should you end up with the family home after your divorce, you’ve got a few options at your disposal. One of these could be deciding to sell the home. Still, home selling post-divorce isn’t always easy. However, a few simple things can help your home stand out on the market…
Home Selling Post-Divorce: Helpful Steps
Determine market value
One of the main issues with home selling post-divorce is pricing. Not a lot of people understand what the actual market value of their home is. As such, they figure that their home will be around the same sort of value when they bought it. In reality, it could be that their home is either worth less, or sometimes even more than they believe.
In order to get as best of a price as possible, it’s helpful to use a property appraiser. These professionals will determine your home’s value based on a number of factors. These can include the age, square footage, features, location, and price of other homes in the area. Once you have a good price, it becomes a lot easier to sell your home.
Prep it properly
First impressions are crucial for home selling post-divorce. If you can’t make a good first impression, you’ll find that your home is going to struggle on the market. As such, it’s crucial that you do some initial prep work to help make your home stand out.
This mainly comes down to doing some repairs and cleaning. Touching up some rough spots can be a good investment, as it’ll make your home more appealing compared to others. Same with making sure it’s clean and presentable. Taking that extra time will go a long way in swaying on-the-fence buyers into being seriously interested.
Pick a good agent
Trying to do home selling post-divorce by yourself is a daunting task. There’s a whole lot of details which can be hard to keep track of. This is why it’s good to make use of a real estate agent. At the same time, you need to make sure that you pick the right kind of agent for you.
For starters, you should ensure that they have good reviews and feedback. Also, make sure that they can work with your schedule. As you may have a lot to still take care of, having a flexible agent is a serious plus. This will help you sell your home the right way and in a way which works for you.
Divorce can be both stressful and somewhat costly. As a result, you may find that you need some financial support post-divorce. It’s important to know what your options are, and how you can even ask those close to you for help…
How to Ask for Financial Support Post-Divorce: Helpful Steps
Explore your choices
When you’re looking for financial support post-divorce, it’s good to consider what your choices are. For example, some people may turn to their bank for a loan. While these can be helpful in the moment, how much you can receive will depend on things like your credit score. This will also impact any sort of interest rate you’ll need to deal with.
If your work has laid you off, then you can also seek out unemployment benefits. These will help you get some cash flow while you look for a new job. However, many will wonder about asking their friends and family. While they may have helped you before, bringing money into the mix can complicate things, so it’s good to know how to make this process easier for everyone.
If you want to ask your friends and family for financial support post-divorce, you need to be prepared. Just going to them and asking for money will get you nowhere and strain your relationship. Rather, if you really want their help, you should show them that by getting yourself ready.
In particular, it’s good to set up a budget and spending plan. Figure out just exactly how much money you may need and for what. It’s also helpful to see if there’s any sort of debt forgiveness or restructuring you can do too. When you prepare like this, it shows your friends and family that you’re serious about using the money properly.
Set up terms
You shouldn’t treat getting financial support post-divorce from friends and family any differently than you would from other places. It can be easy to think that because you know each other, that it doesn’t need to be as serious. However, when money is involved, you want to make sure both sides know and understand what’s expected of the other.
In fact, even if they say they don’t want you to pay them back, it’s good to tell them you will. This creates some accountability on your end and ensures you’ll use the money to get yourself situation. Once you are, you can then pay them back, even if it was just a small amount they gave you.
When you’re going through a divorce, one of the biggest decisions you’ll find yourself making— is what becomes of the family home? You’ve spent the better part of your marriage, and your adult life, making this house a home, and a safe haven for your family. But, now that your family is going to be looking a little bit different— what is the right choice for this, no longer communal, space? Do you keep it? Does your spouse? Or, do you sell the home and go your separate ways? Every family will make this choice, and do so in a different way…
Family Home: Where Do We Go From Here?
This decision is emotional for all parties involved. After all, you bought the family home, or built it, with a vision of building a family there. Little feet on the hardwood, grandchildren, and growing old. But, now, you’re left to decide where you go from here. Maybe you want the house right now, or your spouse does. Or, maybe neither of you want to take it on by yourself…
Taking on the debts of a home by yourself…
While, in the moment, you might decide that you want this house. After all, you put a lot of love, blood, sweat, and tears into making the family home what it is today. You don’t just want to pass off all that work to the highest bidder. But, before you make the decision, and buy your spouse out, you have to make a few decisions.
Chiefly, you have to decide if you can afford the debts of a home by yourself. Utilities, upkeep, accidentals… There is a lot of financial hardship that goes into owning a home, especially a home built for an entire family.
Do you want to give up other assets, or a nest egg, in exchange for this house?
You might want the family home. If so, you might have to either buy your spouse out of their portion, or give some other large asset over in exchange. Therefore, you have to decide if this specific house is worth giving up something else potentially beneficial. Ultimately, you have to decide what it’s worth to you.
A family home has a lot of memories…
While you might love your home, and the memories you’ve made here— not all of them are good. Furthermore, not all of those memories are going to be fond. You must consider if you really want to spend the years following a divorce in a family home that represents your marriage. Do you want to sleep in the same room, maybe even the same bed, that you spent the best and worst days of your marriage in?
Making the decision to sell the family home can be a difficult one. But, it can make for a cleaner break and a fresh start for the both of you. Consider taking the money you make from it, and buy something better suited to your new lifestyle. We wish you luck in this difficult time, offer our condolences for your divorce, and extend our services if you find that you may need them.