There is no question that you and your spouse are better off divorced. One question that remains, however, is whether you should keep your marital home in Florida in the property division phase of the divorce.
You and your soon-to-be-ex-spouse have plenty of options to mull over when it comes to what to do with your marital home. Learn whether you may be better off giving up the home rather than fighting for it.
Neither you nor your ex-spouse may be in a financial position to seek out alternate housing. If the two of you can stand to live under the same roof, you may want to think about nesting and remain in the house together. Consider talking to your spouse about dividing up areas of the house for your privacy so that you are not in each others’ faces more than necessary.
Remaining in the house for the kids and selling later
If you have shared kids to consider, remaining in the house with your ex-spouse could be preferable for everyone. You can plan on selling the home later, which may serve you better from a financial point of view if the current housing market is not great. You do not have to worry about uprooting your kids from their routine, school or friends, which could help in regards to their mental and emotional health.
Selling the house
If there are no kids to consider and the housing market is favorable, you may consider simply selling the house. You can use the profits to buy a new, smaller home or apartment. No matter what you decide to do with the money, be sure to sit down with an accountant to determine how much you can expect to pay in taxes for selling your property. You and your ex-spouse may be better off filing jointly on your next tax return rather than individually.
During a divorce, know what options are available when it comes to deciding on what to do with the marital home. Fighting for sole ownership may come back to haunt you later, with interest.