January is "Divorce Month"

Guest Post by Dion Beg, Kanga Mortgage

I know 'divorce' is not the happiest of subject matters, but it's VERY relevant at this time of year.

See, each year, approximately 55,000 divorces occur in Canada, with a notable surge in January as couples hold off from making this decision until after the holidays (to avoid disrupting family celebrations).

That’s the reason that January is referred to as "Divorce Month". 

If you or someone you know is dealing with separation, there’s a big question that often comes up:

What do we do with the house?

Here’s a quick breakdown of the 3 main options we see people choose:

1. Sell It

• Sometimes, the cleanest option is selling the home, splitting the proceeds, and starting fresh.
  
• This can help both parties avoid ongoing financial ties but the need to know what's possible after the sale BEFORE they sell.

2. Keep It (with a Twist)

• One person buys out the other’s share of the home equity, often by refinancing the mortgage.
  
• This is called a “spousal buyout” and requires qualifying for the mortgage solo (or maybe with the help of co-signers, usually parents).

3. Co-Own It (Temporarily)

• Some couples choose to keep the home jointly for a period of time, especially if kids are involved.
  
• This can be tricky, so clear agreements are essential.

What’s the best choice for you? It depends on your finances, your goals, and your emotional readiness. The key is to make a decision that sets you up for long-term financial health.

We’ve helped many separating couples navigate through all of this. If you’re unsure about what’s right or need help understanding your options, we’re here to make this process easier.

Let’s figure it out together—book a call with us here.

Here’s to starting the new year on solid ground,

~ Dion

P.S. Divorce isn’t just a legal decision—it’s a financial one. Let’s make sure your real estate choices work for you.