Selling Your Minnesota Home Because Your Aging & Debt Time Is Running Out
In this article we will cover the idea of you selling your minnesota home for those thinking of retirement.
For those are feeling pressed for time when it comes to their rising debt and increasing age where you desperately feel your time is running out.
We will get to the bottom of and explore some of the many thoughts and emotions that you have tied to your debt and to your aging and current health as you plan a sale for your future.
Retirement is in the back of most people’s minds as it gets to imagine into our future about how healthy we will love, how long we will live and will we outlive our money? Will our bank health fail and drain our retirement savings at an accelerated rate,
With the cost of inflation and the ongoing rise in healthcare, health insurance and long-term nursing homes being over $100,000 per year as a cost now. That’s a lot of money and you can really burn through your retirement savings quickly.
All homeowners, like yourself, have to think about your current level of debt and your current health condition from mental to physical. Your future health is uncertain the older you get and your health insurance only covers so much of the overall costs.
Your Minnesota house is emotionally attached to both your debt and aging as it relates to your daily lifestyle habits.
All ages and all debt levels can actually relate to their Minnesota house and retirement decisions. There may feel like a lot of pressure to get it right.
As we discuss aging and debt below I will let you know how people relate on almost all levels.
I will also give you an opportunity to text me and reach out to me by text to ask questions and get help with selling your home and looking for your next place to live. To get access to my personal cell phone number Look for the link below to the Minnesota home seller article link to click
Also you can reach out and discuss buying a home in the future even if you have bad credit, past foreclosures, past bankruptcies, short sales or loan modifications.We will take it one step at a time so let’s discuss you taking the steps to sell your home first and what steps you need to think about.
Motivated to Sell your Minnesota Home because of your aging
If you are concerned about a Retirement crisis of broken dreams, such as if your equity, 401k, stocks etc are at risk you can consider renting out rooms or buying and investment property after you sell this Minnesota Home. Focus on lowering your price of your monthly payment. Focus on monthly cashflow for your future because you could use that dependable income stream.
Due to advanced technology with hospitals, we are expecting the life expectancy to be very high into the future, so there is a real concern of outliving your remaining retirement savings based on living longer.
There are 76 million baby boomers with 10,000 baby boomers retiring every single day. Some are calling this a demographic timebomb. They believe a lot of baby boomers will all be selling at the same time based on spending down their retirement funds.
As you get older or someone what you know gets older we will need to look into assistant living homes, or long-term care nursing homes and set up insurance for this. Expenses really add up with medications and Doctor visits.
It’s a lot to emotionally go through and sometimes are mental health suffers also like dimentia, Alzheimer’s and rekk L steps illnesses.
Soon the home is no longer practical because you may be empty nesters with the kids having moved out of the house, or possibly the house actually doesn’t suit your failing physical health.
This can include parts of the house aren’t designed or wide enough to support a wheelchair or crutches.
Often stairs to the basement or the 2nd story become too much for your legs, hips, legs or feet which are in just too much pain. So this is when it’s time to sell your house and find something one level.
After the kids move out you may also find that you need to downsize to something much smaller.
You may even want to live in a group home with a nurse or PCA part-time or full-time.
You may want to move to a place that’s very close to the hospital, as you get older this will just make a lot more sense for your safety and health where an ambulance can be there in a couple of minutes.
Aging and health is a part of life, it’s e optional, out family is a big part of it and part of the decisions that we make in our lives based on everyone’s lifestyles, budgets, work loads and the size of each of their families.
When you get physically old you can fall and hurt your hip or be completely dependent being helped back up by someone that’s there. You aren’t always by a phone, so that’s why you need a house for your future health conditions.
When you downsize it’s quite an experience because you’ll need to make the tough decisions of donating a lot of your things that you’ve emotionally become attached to over the years.
You may give your personal items away to friends and family, you may throw the items away, sell your items on Craigslist or Facebook marketplace, or pay for some storage somewhere until you have more time to figure it all out on what you want to do with it.
Often you’ve had these personal items for years and you’ve grown quite an emotional attachment to these personal items and you may have a lot of memories growing up with each thing, or they were part of the memories with your families and help you remember a younger time.
It’s important to text me, eventually you can talk about selling over the phone, your specific housing situation and just talking through a plan that feels right to you, makes you feel comfortable and gives you peace of mind.
You need to be heard and understood for your perspective and it could help to get some feedback with new ideas and perspective also on how to make the move more seamless and smooth, you’ll have a lot of furniture to move, sell, or donate.
The furniture bed, desks, and dressers will be too heavy for your physical help, so we could guide you if you need some movers to help out.
There is a lot to think about before selling so don’t try to do it all by yourself, ask for help and be open to new ideas.
Anyone that I would connect you with here locally in Minnesota is here to help you out and like it has decades of experience and most I have known well over 10 years.
You may not be the one selling, it may be a relative or a parent having a hard time letting go and these are conversations and decisions that need to be made because they can’t take care of themselves forever they’ll need support to oversee medications and their overall well being.
We look out for people we care about. With covid-19, you are extra susceptible to getting ill with bad symptoms or pneumonia so there is a hightned risk going into the future, so it’s important to really planning your housing for your aging healthy lifestyle.
Please take a moment to read my other articles and click the links or go to my main home page to see what other articles are available.
Motivated to Sell your Minnesota Home because of late debt
One of the fears that many like you may have today is That you have too much debt to ever retire, so you work until you die.
Another challenge is that so many fixed investments for retirement savings have very Low interest rates so it’s got many baby boomers chasing riskier investments for any return or yield. Non of this is investment advice, just be aware what’s out there.
Due to such yields with pensions and other retirement savings a lot of speculation and gambling is happening as many feel it’s there only choice. Some may even do a cash out refinance of their equity.
You are aging and getting near retirement so your clock is ticking and you really can’t afford to lose the next two decades for a rebound from a stock, or real estate crash which leads us all into a recession or worse a depression, And could it last for a decade because some feel that it could.
Your mortgage debt may be late, delinquent, in forebearance or in foreclosure.
If this is the case based on the time remaining left in your foreclosure and the conversation that you had with your bank your time and money may be running out.
If you are behind on property taxes, homeowners association or your mortgage payments you could lose your home.
The property taxes and home owners association have rights superseding that of the lenders.
You may have equity in your mn house and if you are in foreclosure or even the Minnesota redemption period you still have time to sell. Most redemption periods are 6 months in minnesota.
If you are under water on your house and owe too much on your mn home than a short sale with the bank may make sense.
I don’t know how the lenders will treat loan modifications this time around if the housing market were to get really bad.
If you are furloughed, laid off or simply unemployed and income is running out and you are getting behind on your house you may have limited months or weeks.
I know of investors in Minnesota that i could introduce you to that can buy your house for cash based on the price and the work needed or pay a higher price with seller financing in terms.
If you have deferred maintenance on your house or it’s dated and hasn’t been updated in 20 to 100 years you are really behind on debt of maintenance and you can expect your house to sell at a discount.
You may be dealing with probate, a death in the family and have inherited a house and now the bills are getting behind or your siblings don’t want to pay for any of the house expenses.
This is common with a spouse or the same which generation where a parent has passed on.
You may be behind because of property damage from a tenant, a big flood, or fire damage and possibly mold.
There are so many possibilities of why you are short on cash and just need to get our from underneath your debt on the house or sell for some of your equity to pay off your car or credit card bills because the bill collectors are chasing you by phone or mail.
Whatever debt situation you have reach out by text and let me know your housing situation and let’s see if I can connect you with a potential buyer without needing to list it or put it on the market as well as avoiding having all of those others with potential covid-19 coming in.
Remember to click the mn home seller link below for the article with my personal cell phone number.
By reading above you’ve got a lot to think about from the two most important topics with your Minnesota home and lifestyle and that’s debt and aging and if the combine, compound, collide, or clash and what challenges will that leave you with when it times to make the decision of selling your Minnesota home.
Thank you for reading this article to text me with questions please find my cell phone number at this selling your Minnesota home article click here I look forward to hearing from you soon.Follow Me