Personal Finance

How Truehold Helped Alfonso Build His New Home, Stress-Free

December 5, 2022
How Truehold Helped Alfonso Build His New Home, Stress-Free
Few life events are more exciting than building your dream home. Living in transitional housing while it’s under construction, however, can be aggravating. 
The Truehold team talked to Alfonso, a Truehold resident in Cincinnati, who is using a sale-leaseback to stay in his current home while building his new house. 

A Home Big Enough for Six

Alfonso’s house is busy. With 4 kids between the ages of 14 and 21, 2 mini schnauzers, and a guinea pig, there’s always some activity in his home. 

Meanwhile, Alfonso runs his own business; he flips properties and uses his art to upgrade the interior design. He’s often “scattered everywhere across the kitchen” trying to get his work done. 

He and his wife decided to move to a new home where everyone can have their own space. They found a builder, chose a neighborhood, and started designing: a private bedroom for everyone, an extra loft and a “wine room” for hanging out, a walk-out basement with a laundry room, storage room, and exercise room, and an office for Alfonso so he won’t have to work in the kitchen. They made bold artistic choices around the features, dreaming their ideal home into reality. 

A Smooth Move

On average, it takes 7 months to build a home from the ground up. Oftentimes, however, families need to sell their current home to unlock the equity they need to fund the build. Many families have to live in temporary housing until their new home is ready for them. 

Alfonso’s family is too familiar with the discomfort of temporary housing. In 2006, there was a devastating fire in their home and the entire family had to move into an uncomfortable apartment while their home was rebuilt. When he heard about Truehold’s Sale-Leaseback, he thought, “Man, that would be great if we don’t have to move from here to an in-between place that’s way too expensive and too small for our family." 

"The concept of Truehold seemed like it would be amazing for us because we could stay in the house that we’re used to,” Alfonso added. “We could be here until we’re ready to move and just move from here to there and not to a storage unit and then in-between and then on top of each other for months while this house is being built…It just seemed like a great process.”

“The concept of Truehold seemed like it would be amazing for us because we could stay in the house that we’re used to. We could be here until we’re ready to move”

Avoiding the Hassles of Listing

Alfonso's concerns about Sale-leasebacks were all resolved with Truehold. He got a fair price on his home and avoided all the additional fees and hassles associated with home sales. He didn’t have to endure the process of showing his home to potential buyers, like inviting strangers to walk through his personal space or having to leave his home for “weekends on end” for open houses. He even avoided the “fear of wondering how long it would take, the back and forth between us and a buyer.” With Truehold, Alfonso never had to wait long for a response. 

A New Option

Above all, Alfonso is grateful that he doesn’t have to move to temporary housing while his home is under construction. As a real estate professional himself, he knows that many people are not yet aware of how this new product may work for their unique situation. “Everyone I’ve talked to, family friends, are like, ‘Hold on, you sold your house but you’re still in it? You don’t have to move anywhere until the new one is done?” As one of Truehold’s first customers in Cincinnati, Alfonso is excited to spread the word about this new option he’s discovered to help home builders. 

“Hold on, you sold your house but you’re still in it?” 

Thank you to Alfonso for sharing your story! You can find Alfonso’s art at https://alfonsohuckleberryart.com/

* This interview has been edited for length and clarity.

Do you want to stay in the comfort of your current house while building your next home? Truehold’s Sale-Leaseback can unlock the equity you need to build while helping you avoid the many struggles that come with listing your home. 

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