CONSIDERATIONS IN KEEPING THE HOME
- How much equity is in the home?
- Would your spouse buy you out of the home?
- Is this a financial or emotional decision?
- What are the alternatives to buying your spouse out of the home?
- Equivalent homes in area
- Do you want to stay in the area?
- Cost of moving and what would it cost for something else?
- How long would you stay in the home?
- How much will it cost to refinance?
- Assuming that your spouse is on the current mortgage.
- Can you afford the new payment if there is an increased mortgage payment?
- How would you buy your spouse out of the home?
- Are there other assets to buy out?
- Would you take less (can you afford) maintenance or child support?
- Do you need that size home?
- Is it larger than you need?
- Are your kids about to move out?
- Do you understand the tax impact of selling the home, being bought out of the home, keeping the home short-term, keeping the home long-term?
- What is your underlying reason to stay in the home?