When Wisconsin residents are going through a divorce, one of the biggest questions to answer is oftentimes whether or not one of the spouses should keep the family home as the divorce is concluded. This is a significant issue because, for most couples, the family home is the most significant financial asset they own. So, should you keep your house when going through a divorce? Well, the quick answer is “it depends,” but, according to a recent news article, the answer could more easily be “yes” than it has been in previous years.
The recent news article noted the health of the real estate market, lowering home prices nationwide and lower interest rates as some of the primary reasons why it is now a better time than ever for one spouse to “buy out” the other spouse’s interest in the family home as the property division process plays out in a divorce case. The national economy is in a strong position, which means that many families – including many in Wisconsin – are in better shape, financially speaking, than they ever have been before. When it comes to a divorce, that can mean taking on a bit of a financial risk if necessary – and keeping and maintaining a family home is certainly a risk for just one person in post-divorce life.
But, many people are willing to take that risk. Families with children, especially, will oftentimes fight to find a way to keep the family home in order to attempt to minimize the amount of disruption that the divorce will cause.
Every couple’s financial situation is different, which means that the final results of any given divorce case will be different. Couples in Wisconsin who are divorcing and who are wondering whether or not it is a good move to keep the family home will likely need to get more information about their legal options.