Divorce and Real Estate - To Sell or Not to Sell?

26 November 2014

Divorce is one of the most difficult experiences in life. And while thinking about divorce and real estate may seem like opposite ends of the spectrum, they are irrevocably tied together.

The process can be difficult enough. Having to handle all of the emotions, make the best decisions for your children, deal with lost love, and make the right financial decisions can make it difficult when it comes to the decision-making process.

Divorce and real estate is one of the biggest financial impacts when it comes to the process of moving on. That is why it is important to not let emotions dictate whether or not you will sell your home during or following a divorce.

Do Not Let Emotions Interfere in Divorce and Real Estate

Real EstateIn divorce, one or both parties become attached to a family home. They become so attached, in fact, that they will give up their financial security just to get the home in a settlement. This is because they strive for familiarity in a time where uncertainty holds court.

The family home can signify happiness, togetherness, and fonder memories. This is the place where they were once happy as a family, perhaps where kids have grown up. So, it is only natural that they would have a strong attachment to this family home.

But keep in mind that a home is nothing more than a possession. Holding on tightly to that possession can put you and your children in a difficult financial position. Having to come up a lump sum to buy the home from your ex isn’t easy to do, either.

When faced with a difficult situation like this, the one question to ask is whether or not you can afford to live in this home. Finances can change and it may not be possible to maintain possession of the home on your own.

If you can’t feasibly afford the home and the lifestyle that you were used to, it is time to split up valuables and get rid of the home. This can be a time to turn a difficulty in life into a major positive. List the property and get the funds that you need to start fresh for the 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. lindajamesrealtor@outlook.com, 403-650-1796.