Dan's Story: How a sale-leaseback helped Dan and his wife build their dream retirement

Many people have a vision of their ideal retirement. The Truehold team talked to Dan, a Truehold resident in St. Louis, who used a sale-leaseback to fund his and his wife’s dream retirement.

Customer Stories
June 20, 2023
Dan's Story: How a sale-leaseback helped Dan and his wife build their dream retirement

Benefits of Being an Empty Nester

Dan and his wife are finally empty nesters, with only their dog Gracie left at home. With newfound free time, they garden, golf, and even go on cruises. “One of the benefits of getting old, when you get to a certain point, you can do those things.” 

Most of all, they love having their five kids and eight grandkids back to the house for family parties. As their family grows, however, these gatherings are feeling more and more crowded. Their home is in a subdivision, so their pool and deck “pretty much eats up the backyard.” 

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A Forever Home

After 34 years of marriage, the couple’s vision for retirement is clear in their minds—they’re going to build a retirement home, a “forever home,” with plenty of space to host their whole family. “It’s gonna be a two bedroom, two bath, ranch style home. We gotta have a big porch because we like sitting outside. We want the ground for the kids and grandkids to come and goof off on and have family get-togethers.”

To actually make their retirement dream come true, Dan knew he had to plan carefully. He was realistic about the challenge of building a new home: “I know everybody says it’s a nerve racking thing.”

How a Sale-Leaseback Fit Their Needs

When they heard about Truehold’s sale-leaseback, they knew it was a great option to ease their building process. “Our goal was to sell this house and use part of the equity to help us find between one and five acres and then put a house on it. While it is being built, we’ll rent from you guys and then go from there.” 

They considered selling their house through the traditional route, but “then you’ve got to go and find a place to stay while your house is being built and all that. With us being able to…just stay without having to worry about moving, multiple times, and finding some place…It just fit our needs really well.” The task of selecting a contractor and finding the ideal plot of land is taking more time than they anticipated. Meanwhile, they're appreciating the ability to remain in their existing home for the duration of the construction period. 

Dan found the sale-leaseback process to be “really, really smooth. Overall it’s been a really great experience. The people have all been professional and really polite.”

Since closing on the sale-leaseback, they have their home equity available as cash to fund the construction project. “With the equity, that’s a big plus, it helps us get started, having more money to put down and do what we needed to do…It fit the best for what we needed.”

"Overall it’s been a really great experience. The people have all been professional and really polite.”

Building Toward Retirement

Now, the couple is relishing in the anticipation of living in their “forever home.” 

“The biggest thing is the excitement of being able to draw up house plans and seeing our overall goal and dream come true and come to fruition. Being able to design it, picking out colors, picking out everything that you’re gonna have in it and finally getting it started and coming to the finish point; when it finally happens it’s gonna be a really good thing.”

This interview has been edited for length and clarity. 

Are you looking for a way to fund your ideal retirement? Truehold’s sale-leaseback can help you unlock your hard-earned savings to enjoy your retirement years without financial stress. 

Request a free, no-obligation offer on your home today.

Róisín Goebelbecker headshot
Written by
Róisín Goebelbecker
Brand Lead at Truehold
Róisín Goebelbecker leverages her background in social impact storytelling, community engagement, and social services to elevate residents’ stories and advocate for the dignity and agency of older adults.
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Truehold's blog is committed to delivering timely and pertinent insights in real estate and finance, purely for educational and informational purposes. Crafted by experts, our content is thoroughly reviewed to guarantee its accuracy and dependability. Although designed to enlighten and engage, our articles are not intended as financial advice and should not be the sole basis for financial decisions. Our stringent editorial practices ensure the integrity of our content, empowering our readers with valuable knowledge.

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