Real Estate and Divorce – to sell or not to sell?
Divorce is one of the most difficult life experiences you could face in your lifetime. With all the emotions revolving around children, lost love and finances, it is hard to keep emotions out of your decision-making. Real estate in divorce often has one of the biggest financial impacts in the whole process.
My advice to you is DO NOT let the decision regarding your family home be one of those emotion-based decisions.
Time and time again, when a couple divorces one party or even both parties are attached to the family home and will give up pretty much all financial security to obtain it in the settlement. Often people grasp onto anything that is familiar in a place of unfamiliarity. The family home signifies happiness and togetherness. This asset reminds people of the life they had together.
This is the place where families were once happy, where kids have grown up. It is only natural to have strong attachments to this possession.
But that’s what it is, a POSSESSION. Sometimes holding onto this momentum of your life with your ex can put you and your children in a difficult position financially. Coming up with a lump sum to buy your ex out of the mortgage is not an easy task to accomplish.
If you are faced with this difficult situation, there is only one question to ask: can you afford to live in this house with your new single person financial status you are going to become accustomed to?
If not, you know what to do. Split your valuables and part with your home. Turn this difficult time in your life into a positive financial future by listing your property and making a lump sum to go towards a promising future.
Remember, the value is in the memories you made there and not the asset you made them in.
Divorce is hard enough without putting yourself in financial ruin. If you are ready to make that step and list your house for sale in Calgary, contact a realtor soon. The current Calgary market is a seller’s market, but may change at any moment — so, take a breath, and take that step towards financial freedom and downsize today.
Contact me today to move on to your new life and new home to build new memories in.
Linda James is a Calgary Realtor with Remax. She is a born and raised Calgarian and has made her mark in the Calgary Real Estate market for the past 15 years. Linda knows the Calgary housing market and prides herself on being a Calgary housing expert. What separates Linda from other REALTORS® is her true passion for real estate, her connection to people and her ability to assist her clients from start to finish whether they are buying or selling a home. Contact Linda today to learn more about the Calgary market and start the process of buying or selling your home. firstname.lastname@example.org, 403-650-1796.