Deciding what to do with the marital home in divorce requires knowing all available options. Do you know the most favorable option for you and your ex-spouse?
To help, see what U.S. News & World Report says about the matter. Depending on your circumstances and desires, you may be better off staying in, selling or nesting in your residence.
You may have shared children with your former spouse whom you want to remain in the marital home for their peace of mind. If so, nesting could work. Nesting is when one parent stays in the marital home with the kids while the other parent stays in an apartment that both adults share. This way, you do not have to move your kids, and you can map the next chapter of your life.
The housing market in Illinois may not be the most favorable right now. If you and your ex can live in your home together until things improve, you can wait to sell your property. Selling the home later could work as an alternative to nesting if you have children with your former partner and do not want to move them.
Current conditions and circumstances could be ripe to sell your home ASAP. With this option, bear in mind that you may have to spend money to fix the house to ready it for sale, and you may owe commission if you bring in a real estate agent to help.
Keeping the house yourself
Would you prefer to stay in the home by yourself? If so, check your budget and income to see if you can buy out your spouse, take care of property taxes and keep up with the cost of home maintenance with your salary.