Excerpt from Divorce in Arizona by Marlene Pontrelli and Robert Schwartz
One of the first issues that often arises during a divorce is what to do with the family home. Selling your home is a big decision. To help you decide what is right for you, ask yourself these questions:
- What will be the impact (positive or negative) on my children if the home is sold?
- Can I afford to stay in the house after the divorce?
- After the divorce, will I be willing to give the house and yard the time, money and physical energy required for its maintenance?
- Is it necessary for me to sell the house to pay a share of the equity to my spouse, or are there other options?
- Would my life be easier if I were in a smaller or simpler home?
- Would I prefer to move closer to the support of friends and family?
- What is the state of the housing market in my community?
- What are the benefits of remaining in this house?
- Can I retain the existing mortgage or will I have to refinance?
- Will I have a higher or lower interest rate if I sell the house and buy a new one?
- Can I see myself living in a different home?
- Will I have the means to acquire another home?
- If I don’t retain the home and my spouse asks for it, what effect will this have on my custody case?
- Will my spouse agree to the sale of the house?
- What will be the real estate commission?
- What will be the costs of preparing the house for sale?
Selling a home is more than just a legal or financial decision. Consider what is important to you in creating your life after divorce when deciding whether to sell your home.