Want to Keep the Family Home After Separation? What You Need to Know -Insights from Craigieburn Lawyers
Separation or divorce often brings uncertainty especially when it comes to who gets to keep the family home. For many people, the home is more than just a financial asset. It is a place tied to memories, children, and stability. In our experience as family lawyers in Craigieburn, this is one of the most common and emotionally charged questions we are asked:
“Can I keep the family home?”
The short answer is possibly. But it depends on a range of legal, financial and practical considerations. This article outlines what you need to know if you are hoping to retain the family home after separation. We also explain how our team at Craigieburn Lawyers can help you achieve the best possible outcome.
Understanding the Legal Framework
Under the Family Law Act 1975 (Cth), the family home forms part of the asset pool to be divided between separating couples, regardless of whose name is on the title. That means even if the property was purchased solely by one party or owned before the relationship, it will likely still be considered in the overall property settlement.
Family law courts do not apply a strict formula when dividing assets. Instead, they consider what is “just and equitable” based on factors such as:
The contributions (financial and non-financial) of each party
The future needs of each party
The presence and care of children
Each party’s earning capacity and health
Keeping the home is not automatic. It must be negotiated or determined by the court as part of a broader settlement.
Key Considerations When Wanting to Keep the Home
1. Can You Afford It?
This is the most critical question. Keeping the home usually means you will need to:
Refinance the mortgage in your sole name;
Pay out the other party’s share of the equity;
Cover all ongoing costs of the property, including council rates, utilities, maintenance and insurance.
You will need to demonstrate to a lender that you have the income or support to take on this responsibility alone.
At Craigieburn Lawyers, we often work alongside financial advisers and mortgage brokers to help our clients assess the feasibility of retaining the home.
2. What is the Home Worth?
Before negotiating a settlement, you need to know how much equity is in the home. This is usually done by obtaining either:
A joint valuation agreed upon by both parties, or
A sworn valuation by a qualified property valuer.
For example, if your home is valued at $800,000 and the mortgage is $400,000, then there is $400,000 equity. If the parties are splitting property 50/50, you may need to “buy out” the other party’s $200,000 share, usually by refinancing or giving up other assets.
3. Children and the Home
If you are the primary carer of the children, the court may consider the benefit of them remaining in the family home, especially if it provides continuity and stability. This can be a relevant factor in negotiations or court proceedings, but it is not decisive.
The court still must be satisfied that the proposal is financially viable and fair overall. You cannot keep the home just because you are the parent with care, you still need to demonstrate that you can afford it and that doing so would not unjustly disadvantage the other party.
4. Offsetting Other Assets
If you wish to retain the home, the other party may receive a greater share of other assets, for example:
Superannuation
Vehicles
Bank accounts
Shares or business interests
We often help our clients negotiate these trade-offs to preserve the asset that matters most to them. The key is a balanced overall outcome that reflects contributions and future needs.
5. Emotional vs Financial Decisions
We understand the emotional pull of wanting to keep your home. But emotions alone are not a basis for good legal or financial decisions.
Ask yourself:
Can I afford the mortgage, rates, maintenance and unexpected costs?
Will I be better off downsizing or relocating for a fresh start?
Am I sacrificing long-term financial stability for short-term comfort?
At Craigieburn Lawyers, we offer practical advice to help you weigh these considerations with clarity, not just emotion.
6. What if I Cannot Keep the Home?
Sometimes, keeping the home is simply not practical. In such cases, alternatives may include:
Selling the home and dividing the proceeds: This is often the cleanest solution, particularly where neither party can afford to retain the home.
Deferred sale: One party may stay in the home temporarily (for example, until children finish school), with a sale agreed at a later date.
Co-ownership arrangements: In rare cases, parties may agree to retain joint ownership temporarily, but this can be risky and is not recommended without strong legal advice.
How Craigieburn Lawyers Can Help
At Craigieburn Lawyers, we have extensive experience helping clients across Craigieburn, , Greenvale, Donnybrook, Beveridge and the northern suburbs resolve family law property settlements.
We can assist you with:
Initial legal advice on your rights and options
Financial disclosure and negotiating property division
Referrals to brokers and valuers to assess affordability
Mediation or collaborative law to resolve disputes
Court representation if negotiation fails
We also understand the local property market, the pressures on families in the Craigieburn region, and how to approach matters with empathy and realism.
Final Thoughts: Protecting Your Future
Keeping the family home after separation is not just about legal entitlement it is about making a smart, sustainable decision that supports your future. Whether you are seeking to remain in the property for the sake of your children, your mental health, or your long-term financial position, it is critical to get early legal advice.
At Craigieburn Lawyers, we have successfully helped many clients retain the family home after separation through careful negotiation, strategic planning, and a clear understanding of their legal entitlements. Whether through consent orders, financial agreements, or court proceedings, we work tirelessly to achieve outcomes that protect our clients' long-term security and peace of mind.
Contact us today for a initial consultation with a family lawyer in Craigieburn. Let us help you protect what matters most.