Buying A Home After A Divorce: Is It A Good Idea?
More than 90% of people in western cultures will marry before they turn 50 years old and, on average, roughly 40–50% of all marriages in the United States will end in a divorce, according to the American Psychological Association . With such a high rate of divorce, it’s important to keep in mind that a successful marriage is not guaranteed, and as such, getting married can be considered a risk. Financially speaking, one of the biggest risked assets during a divorce is the family home. Many divorces result in neither party keeping the home and instead selling it to promote a quicker and easier split of marital assets. Due to the significant risks that divorce poses, combined with the high rate of divorce, many people are finding it more necessary to create prenuptial agreements shortly after the engagement. From the attorney’s fees, to surrendered assets, to the mental toll that divorce can have on someone, and not to mention alimony and child support, divorce is expensive. With