Midlife Marriage: What About The Houses?

Real estate columnist Ellen James Martin tells people getting married in midlife that their housing decisions may not be as easy as they think.

In "Moving After Midlife Marriage" she looks at the unique issues facing people getting (re)married in middle age.

One is that they may both own houses. Choosing which one to keep and which to sell -- or whether to sell them both -- involves financial planning as well as the new marriage relationship. That means the couple must fully communicate their wishes and expectations.

One complicating factor, according to Martin -- middle aged adults may be used to making decisions without involving a partner.

Midlife can provide more choice as well. If the children have moved out, a couple has far more options about how big a house they need, and where they should live. They can be more selfish about finding a neighborhood, town, or city that fits their needs, and not their children's.

Lastly, Martin points out that a midlife housing decision is also in part a retirement planning decision. After deducting costs, housing has not outperformed other investments over the long run. Couples should be careful not to overinvest in a new house at the expense of their retirement savings and investments.

In general, one financial planner told Martin, couples should make these decisions as part of a well though out plan.