We aren’t divorced yet, but we will be making our way towards it in the near future. Amicable.
We have a house east of Seattle. Bought for 325k in 2018. We owe 293k. Zillow says 500k estimate (two neighbors with almost identical houses sold for 450-500 as well)
Our two options are to sell the house, split the cash and be on our way….. We have a 3 year old, and it’s important for everyone that I stay in or near the city where she will be. Renting is slim out here, and they go for 1700-2400. Mortgage is 2250. The second option is for me to keep the house (I make more) refinance it in my name, and buy her out. Still need an appraisal and everything, but playing with the 500k number she would get 100k to be bought out.
So…I don’t know what to do. Keeping all of the emotional aspect out of this, I’m wondering if I’m putting myself in an ok financial situation. I will no longer be owing 293 on a house, I’ll be owing 400. Eventually the market will slow down and I don’t want to be screwed with a majorly depreciated house.
I’d really prefer not to deal with moving (esp into an apartment) for a few years until the ‘bubble’ pops to buy again. Even then, I’ll still be buying a 400+ house.