Retiring And Downsizing? What To Do About Your Minneapolis House…

Retirement is the new reality here in America and there’s a powerful financial strategy that families are using to help make retirement a reality for their aging parents and grandparents. Learn how your Minneapolis home can be part of your retirement plan…

Across America, thousands of people are retiring every single day. Many are discovering, though, that their IRAs and 401ks aren’t always adequate to cover the high cost of retirement living (even when their monthly budget is topped up with social security). In fact, one of the biggest worries that retired people have right now is that they’ll outlive their retirement savings.

Do you have a family (like a parent or grandparent) looking to retire? Perhaps they’re also looking to move into a retirement community or just downsize into a smaller home that’s easier to take care of or closer to the kids. At Quick Home Offers, we’re seeing a lot of that right now – as retirees and their families navigate the complicated step of retiring from a lifetime of work and also trying to figure out the real estate, financial, and even health/safety/convenience factors of retired life.

In many cases it makes sense to sell the house. Rather than leave the retired parent to care for it themselves, or get caught up in a complicated estate situation when they pass away, many retired people are selling their homes now (they’re often larger homes that they raised their families in) and extracting the equity to supplement their retirement income.

In fact, the reality for a lot of family is: the equity from the home may even be more valuable than the retirement savings. (We’re seeing a lot of that too).

So, selling seems like a good option but there’s an added challenge that these families are facing – the house itself… it’s sometimes old, outdated, or in need of a lot of TLC. Maybe mom and dad have not been able to keep it up as well as they thought they could; maybe the basement still has the same shag carpet, wood panelling, and that orange floral-print couch that was there when you grew up in the house… and this is where it gets tricky for many families because updating the house takes time, money, and effort, and can be a huge inconvenience to any family members living there… and which family member will take on all that expense and effort to get the house updated?

That’s where our Minneapolis Retirement House-Buying Service comes in. We specialize in helping families navigate this challenging new stage of life. We buy old, out-dated, and even run-down homes. We always do it respectfully because we understand that your parents or grandparents still have a lot of pride and wonderful memories in these homes… but at the same time, we’re all realistic about saving you the money, time, energy, and hassle that someone in your family will have to endure to update the house.

So, we buy houses from retiring homeowners (and we always do it in a way that is respectful, comforting, and helps to make the transition easy for everyone). We’ll buy it even with the shag carpet and floral-print couch in the basement… no need to haul it away! We’ll pay you a fair price and take the house off your hands.

One question we’re asked a lot is, “will you pay the high market price that we could get by selling through a real estate agent?” That’s a great question and the answer is: people come to us because they want to sell their out-dated house quickly and easily. For those who are hoping for a higher price on the market, you’ll need to invest time and money into updating the house and then dealing with an agent. If you want to do that, that’s totally fine… but a lot of our clients come to us because they realize that they don’t have the time or the money to invest up-front in the hope of a higher market price. We pay a fair but discounted price and save you the costs and time. Our clients are still happy with what we pay because in many cases these homes have grown in value over the years and there’s still plenty of equity for the seller.

So, if you’re the child or grandchild of someone who is retiring, and if you’re trying to figure out how to help them with their real estate, you do not have to do it alone. We are Minnesota specialists in helping people navigate the real estate aspect of retirement, and we’d love to help you by making you an offer to buy your parent’s/grandparent’s house.