The decision to move a family member into hospice care from their home they’ve probably lived in for a long time is a hard decision to make. The process of moving is difficult both emotionally and physically, and family member’s are mostly focused on the wellbeing of their loved one.
Moving a loved one into hospice care or long term care can also create a large financial burden for their families. There are many options to pay for a family member’s care, but one of the simplest options is to leverage the equity in that family member’s home to cover the cost of care.
If a member of your family has moved into a care facility, you can sell their home for cash and use that money from the sale to cover the costs associated with their care.
The Cost of Long Term Care
The high costs associated with long term care can be a big concern for families, especially since it can be difficult to predict how long a person needs hospice care.
In some cases, it is possible to use the proceeds from the sale of your family member’s home to cover all of their costs depending on the type of long term care your family member requires, the value of their home, and whether or not they own their home outright.
Hospice care is expensive – it can cost anywhere from $20 per hour on average, up to nearly $7,000 per month. The average cost of long term care services per year is $138,000 in the United States.
Not everything can be fixed with cash, but in this one instance, a cash buyer can help.
Selling a Family Member’s Home For Cash
Many families worry about the costs associated with long term care, especially in cases where care is required for several years. Most seniors can’t cover the costs of long term care out-of-pocket.
Selling a home for cash is, by far, the easiest way to take advantage of the value of your family member’s home. While other options exist, like home equity loans or reverse mortgages, selling for cash is the quickest and easiest way to sell a home outright.
If your family member needs long-term residential care and they own their home, selling the home and using the proceeds to help cover the costs of long term care is a great option, especially if they do not have anyone else living with them.
The Process of Selling a Home for Cash
Many cash buyers have similar processes. Once you contact them, they will come to your loved one’s home for a walk-through so they can determine a fair cash price for the home.
They will assess the state of the home, as well as determine whether they will need to do any repairs. Cash buyers buy homes as-is and handle repairs themselves, from small cosmetic changes to weather damaged roofs, and much more.
Soon after the walk-through, you will receive a cash offer. If you choose to accept, the cash buyer will present you with the contract and handle all the paperwork on your behalf – you don’t have to handle anything on your own!
The process of selling a home for cash is quick and convenient. You don’t have to hire a realtor, wait for months for a potential buyer, or negotiate the sale.
Sell Your Loved One’s Home to Trusted Cash Buyers
If you are looking for a reputable company who will buy your loved one’s house for cash quickly and efficiently in Metro Detroit, our team at 4th Dimension Development is here for you and will work with you every step of the way.
With 4D2, there is no pain, no waiting, and no regrets. Contact us today to see how we can help you.
Give John a call today at (248) 622-8244 to have all of your questions answered and begin the selling process. We work quickly to buy your home for cash. That’s our motto – the right way, the right price, right now!