all right this is just a quick one because I'm running behind I certainly need to get ahead of things lately because the days are going too quick I'm just sorry to get this to you earlier um I'm out all weekend as well because I'm in sydney for my daughters flying overseas so um I'll quickly do this one for today and then obviously just touch up wherever possible I'm just waiting as usual for the timer to start just in case hopefully you can get rid of the um crap on the ground there sorry I don't do it for school pickup so come on come on come on I'm gonna check the timer yep okay that's slow enough Okay. Hi, everyone, and welcome back to the Stacey M Show. Today I want to talk about a question that comes up a lot during separation and divorce. Oh, God, sorry. It's going too quick. Okay. Is my speed slow? Oh, because I'm doing it on my phone. Sorry. That's why. Doesn't show as much. Pause going. Hi, everyone. Welcome to the Stacey M Show again. Today, I want to talk about a question that comes up a lot during a separation or divorce, and it's should you take the house or should you walk away? Now, that's a huge decision. And for many families, the house isn't just... And for many families, the house isn't just bricks and mortar. It's the kids' bedrooms, the backyard, the memories, but it's also one of the biggest financial decisions that you will ever make. So first, let's separate the emotion from the practicality. Emotionally, the house feels safe. It's familiar and it can feel like the one constant thing. Emotionally, the house feels safe, familiar, and it can be... Emotionally, the house feels safe, unfamiliar, and it can feel like the one constant when everything else is changing. Practically though, you need to ask yourself a few questions like, can I afford to keep it in the long term? Hanging onto a house that stretches you financially can create more stress than it's worth. On the other hand, letting it go can sometimes open the door to a fresh start. Here are the main things I encourage you to weigh up when you're making this decision. Affordability. Can you take over the mortgage, the rates, the insurance, and the ongoing maintenance on your own income or with support? Now it's gone too slow. Borrowing capacity. Speak with us early. Even if you want the house, you need to know if a bank will finance it into your name. Borrowing capacity. Speak with my team at Confetti Finance early. Even if you want the house, you need to know if a bank will refinance it into your name. Equity and settlement. Often, keeping the house means having to pay your ex-partner out some sort of share. That might mean taking on more debt than you expected. Suitability. Is this home still right for your new life? Sometimes it's too big, too far from work or school or too full on. Sometimes it's too big, too far from work or school, or too full of memories that make it harder to move on. Stability for the kids. For families with children, staying in the home can offer stability during the tough time. But kids also adapt well when they're safe and loved, no matter the roof that is over their heads. So remember, there is more than one path when you're making this decision. You might decide to sell and split the proceeds. You might refinance and stay. or sometimes one partner keeps a house short-term before a sale later. The right choice is the one that balances emotional wellbeing, financial reality and long-term goals. So if you're facing this decision, please don't rush at it. Look at the numbers honestly and ask yourself, is this house a stepping stone for your future? Or is it going to be an anchor that is going to keep you stuck? And if you're not sure what your numbers actually look like, please do reach out to my team at Confetti Finance. We can run the figures on your borrowing capacity, repayments and options so you're not making this decision in the dark. Please note, there is no right or wrong way of doing it. It can be as simple or as creative as you like. And I've definitely seen that over my course of being a lawyer. So, Thanks for tuning in. If this episode hit home for you, I'd love for you to share it with someone else who might be making this same decision. And until next time, take care. All right. I don't think that was bad. Sorry, Jim.
