The Dangers – and Benefits – of Renovations During Marriage

According to Statista, 75% of all Americans attempt DIY renovations. Often, these renovations prove extremely cost-effective, increasing both quality of living and home values. In other situations, however, they prove to be total disasters. If you or your spouse carried out these DIY renovations during your marriage, they could become an issue if you ever get divorced in Orlando.

A Spouse Who Increases Their Home’s Value May Be Rewarded During Divorce

If a DIY renovation successfully increases the home’s value, the spouse responsible for these improvements may leave the marriage with a greater share of the property. This is due to Florida’s “equitable distribution” system. Under this system, family courts in Florida consider various factors when determining how to divide property – and they may reward spouses who increase the values of their marital estates.

For example, a spouse might carry out a DIY renovation of the guest bathroom. This renovation may increase the home’s value by $25,000, and the spouse who is responsible for these improvements may therefore receive a greater share of the property during divorce.

Assuming that the total value of the property is $500,000, the spouse who carried out the bathroom renovation may receive $275,000. In contrast, their ex may only receive $225,000. Normally, both spouses would receive approximately $250,000 each.

An Unsuccessful DIY Renovation Can Cause Issues During Divorce 

On the other hand, an unsuccessful DIY renovation can decrease the value of the home. Many of these DIY projects go terribly wrong, and renovation horror stories are relatively common. When trying to improve something, it is all too easy to damage an important component of your home.

Examples include severing a gas line, rupturing a plumbing pipe, or causing a flood. Inexperienced spouses may even cause structural collapses after cutting through a load-bearing component.

Spouses who engage in this behavior may be punished during divorce. For example, a spouse might cause $100,000 of damage while attempting a simple bathroom renovation. In the event of a divorce, a family court may subtract these losses from their share of the property.

Assuming the home is worth $500,000, the “guilty” spouse may receive just $150,000. In contrast, the other spouse may walk away with a share of $350,000.

These examples are oversimplifications, and it always makes sense to discuss property division with an experienced divorce lawyer in Orlando.

Can an Orlando Divorce Lawyer Help With Property Division? 

The family home is usually the most high-value asset in a family’s estate, and it makes sense to fight for this property during a divorce in Orlando. DIY renovations may affect the equitable distribution process in Florida – but there are many other important factors to discuss as you approach divorce. To continue this discussion alongside a legal professional, schedule your consultation with Tampa family lawyer Steve Marsee, P.A. today.

Sources:

statista.com/topics/9439/diy-home-improvement-projects-in-the-us/

theinvestorsedge.com/blog/10-home-renovation-nightmares