Out-of-the-Box Ways to Secure Your House in Divorce or De Facto Separation

Going through a divorce is undoubtedly one of the most challenging experiences in life. Amidst the emotional turmoil, one crucial concern for many individuals is keeping the family home. If you find yourself in this situation and are determined to keep your house, we've got some invaluable tips that might just help you achieve that goal.

1. The Delay Agreement: Don't lose hope if you can't afford to buy out your ex immediately. Consider negotiating a delay agreement where you plan to refinance and buy their share out in the future. This option allows you to have sole occupancy of the house while buying time to work towards owning it entirely. (always get legal advice before doing this)

2. Kids Come First: If you have children and wish to keep the house for their stability, you might explore negotiating an agreement with your ex. The idea is to allow you to stay in the house until certain milestones in the children's lives are reached, like finishing high school or turning 18. (always get legal advice before doing this)

3. Team up with Family: If financial constraints are standing in your way, consider involving a family member in your property plans. Jointly purchasing the house with a family member and buying them out later might be an option worth considering. (always get legal advice before doing this)

4. Delay Your Property Settlement: Sometimes, strategic timing is the key. If your ex isn't pushing for immediate property settlement, use that time to improve your financial situation, save up, and increase your chances of being able to keep the house. (always get legal advice before doing this)

5. Reevaluate Property Values: If property values have changed significantly since the initial assessment, consider getting a new appraisal. A decreased property value might reduce the amount you need to buy out your ex's share. (always get legal advice before doing this)

6. Superannuation Split: Don't forget about superannuation! If you or your ex have substantial super savings, you may consider a super split. This involves giving a portion of your super to your ex in exchange for a share in the house. (always get legal advice before doing this)

7. Explore Your Budget: Take a close look at your budget and expenses. Are there areas where you can cut costs or reallocate funds to prioritize keeping the house? Also, ensure you're aware of your entitlements regarding child support, as it can make a difference. (always get legal advice before doing this)

8. Seek Legal Advice: While these tips can be game-changers, remember that every divorce situation is unique. It's essential to seek legal advice to understand your specific rights and options fully.

Navigating a divorce and property settlement can be complex, but don't despair. Armed with these out-of-the-box ideas, you're one step closer to securing your cherished family home. Remember, it's your sanctuary, and there are creative ways to make it yours in the end. Keep your chin up, and you've got this! If you'd like to hear more about this listen to our in-depth podcast episode