Renovating a home is a dream for many couples. The opportunity to live in a space that is completely yours — down to every minute detail — is thrilling in the least. For some couples, a renovation is a symbol of their life together. Renovations, however, take hard work, money and a lot of compromise. Although the end of a renovation is often looked forward to as a new beginning for a couple or family, for some, it signals the end.
For some couples, a renovation starts as a fun project but turns into a serious pain. Sometimes one spouse checks out of the process, refusing to offer input or opinions on the decisions that must be made to complete the renovation. For others, it becomes a financial nightmare. If the ultimate result is divorce, couples then have to determine how to handle their brand-new space.
Having to deal with a newly renovated home during divorce can make property division negotiations contentious. Sometimes both spouses feel strongly about holding on to the piece of property that they invested so much time and money in. For others, the renovated home is a symbol of what used to be, but selling a renovated home can be challenging if the style is too particular.
Of course, not all couples who choose to take on a renovation project end up divorcing. However, learning from the experiences of others may be beneficial. Making sure that your investments will add value to the home is extremely important. Not only that, but ensuring that the style is versatile enough to please potential buyers is also a good approach, even if you never plan on leaving.
No one plans for a divorce, but making smart choices during a renovation can help ensure that you have options if you do end up deciding to divorce.
Source: New York Observer, “Until Decorating Do Us Part: When Renovations End in Divorce,” Kim Velsey, March 12, 2014