I'm wondering if I could get your advice. Here's the background, I've been mostly a stay-at-home mom for 14 years, with odd jobs here and there. I've always had the drive to find ways to earn money and have started up a few side gigs that haven't taken off because I haven't put the work in. Currently I'm in the middle of a divorce and I want to keep my house because I see it as long term passive income potential. I have a large unfinished basement that I run a dance business out of. It's large enough that I could finish it and include a studio for my business, and have the other part finished as an apartment to rent out. Here's my question, is it worth it? If we sell the house and split the equity, I would come out with 125 k. The alternative is my ex would allow me to keep all of the equity ($250k) and give up long-term alimony payments. The house is worth 500k. I see this as a potential opportunity for passive income but I have a lot of people telling me to just sell it and it's too much work. Another fyi -- I have four kids, so our house is wonderful for them. I am not making an emotional decision, but taking in all the factors and have come to the conclusion myself it's best to try to stay in the house. Maybe I'm looking for some words of support, but I also want some realism. What do you all think?
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