Divorce can change many parts of your life, including what happens to the family home. If you own property in Port Perry, Oshawa, Whitby, or elsewhere in Durham Region, deciding what to do with the home can be one of the biggest financial decisions you face.
We know this can be an emotional and stressful time. Our role is to help make the real estate side of the process as clear and manageable as possible.
What happens to the family home?
In Ontario, the family home can receive special treatment when property is divided following a separation. The value of the home and other financial details can become part of the discussions between spouses.
There are several possible options.
You may decide to sell the property and divide the proceeds, or one spouse may want to keep the home and buy out the other spouse’s interest.
The right choice depends on your individual circumstances and should be discussed with your lawyer and other financial professionals.
Getting the numbers right matters
Before making a decision, it is important to understand the home’s current value, the amount owing on the mortgage, and the other financial factors involved.
A professional real estate opinion can help provide a current picture of the property’s market value. This can give both parties useful information when discussing their options.
If selling is the right choice, we can help you understand the local market in areas such as Port Perry, Oshawa, and Whitby, prepare the property for sale, and develop a marketing plan designed to reach potential buyers.
If one person wants to keep the home, the real estate value can also help provide a starting point for discussions with legal and financial professionals.
You don’t have to figure it all out at once
We often work with people during major life changes, and we understand that there can be a lot to think about.
Your lawyer can provide legal advice. Your lender can explain financing options. An accountant or financial professional can help with tax and financial questions. And we can provide guidance about the real estate market and the property’s value.
Our job is not to tell you what decision to make. Our job is to give you clear real estate information so you can make an informed decision with your professional advisors.
If you are facing a separation and have questions about what your home could be worth, we are happy to have a confidential conversation with you.
Keith Williams & Lisa C. Follows
Willows Realty Group
📞 (888) 926-2066
📧 team@willowsgroup.ca
🌐 WillowsRealtyGroup.com
Let’s talk about your options and take the next step when you’re ready.
Related Reading: More Help With Your Next Move
If you’re facing a major change in your living situation, you may also be wondering what comes next after a home is sold. Our guide to Why the Right Home Conversation Starts with Your Life, Not Your House offers practical information to help you think through your housing options, finances, and next steps.
If you’re considering a move in Port Perry, Oshawa, or Whitby, we’re here to help you understand your options and make informed real estate decisions.
Stay connected to the market.
Sign up to our digital newsletter community.
