“If they’re going to keep the house, which is usually the biggest, if not one of the biggest assets, they’re going to be giving up other things,” Moonay explained.

To protect their financial future, Moonay urges individuals to look past their emotional ties to the property. She advises clients to project their expected income, child support, and alimony over the next three to five years to ensure maintaining the home is genuinely viable.

“They’re not thinking ahead,” she said. “I have clients come back later, like when they’re wanting to modify child support, and they’re like, ‘Oh, you were right, I should not have kept that house. It’s just a money pit, and now I’m going to have to sell it because my alimony is ending.’”

Ultimately, Moonay emphasizes that divorce-related financial decisions should be based on long-term affordability, not emotion. 

“With the house, “a lot of your wealth is stuck in an illiquid asset,” Moonay counsels clients. “It could appreciate, but it’s not making money in the market. You can’t easily pull money out of it. People don’t consider the opportunity costs.” 

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