Divorce brings a number of complications for those involved, ranging from emotional harm to financial hardships. One of the main decisions couples face while going through a divorce is selling their family home. A choice that could weigh even heavier if children are involved.
According to the American Psychological Association, “the more times people moved as children, the more likely they were to report lower life satisfaction and psychological well-being at the time they were surveyed, even when controlling for age, gender and education level.”
There’s a variety of options to explore when selling a home. Co-ownership might help the custodial parent stay at home without the need of buying the other out. This will also ease a buy-out in the future after a series of payments. However, there are obvious complications when co-owning property with a former partner. Some key disadvantages mentioned in an article by divorcenet.com include staying economically involved with your spouse, having large amounts of debt on record, and running the risk that your spouse will change his/her mind and decide to sell the house.
Another, simpler way for one of the partners to stay at home without dealing with these disadvantages is by selling their home through platforms like Sell2Rent. This digital platform eases the process of sale-leaseback agreements. It connects sellers with potential buyers and helps them reach an agreement that best suits their needs. Sell your home, and stay as a renter.
In the case of a divorce, the couple could sell the home and split the money, all while one of them stays home as a tenant. This is arguably the easiest way to free up equity during this stressful time. According to an article by USNews, the average cost of a divorce in the United States stands around $15,000. That number might rise if the house is in need of repairs, and that’s just the first example.
Apart from the financial ease Sell2Rent provides, it makes the emotional aspect of the divorce a bit less stressful. By selling the home and staying as a renter, there is no rush as to when to move out. The couple can finish the process healthily while keeping the kids in school and going to work as usual. After the storm has passed, a decision can be made as to whether to stay short or long term.
Sell2Rent is honest from the beginning, if you believe sale-leaseback agreements could make your life easier all you have to do is request an offer through sell2rent.com. There, you’ll interact with potential buyers who will pay close to market price for your home.