There’s no place like home. It may be a cliche, but the simple statement holds a lot of truth; however, for many older adults, homeownership can become more of a burden than a comfort. Truehold is dedicated to offering an innovative solution to allow seniors to age in place as long as possible. Its sale-leaseback model provides an option to access home equity without moving or taking on debt, all while removing the weight of property maintenance.
The inspiration for Truehold came from CEO and founder Brian Hardecker’s personal experiences with his grandfather. “Our family had to navigate the questions around how to keep him in his home longer,” he says. “His finances became more strained, and we looked at financing options and government programs, but ultimately, the solution was to sell the house. While there are many great senior living options, for him, it was an isolating experience and a pretty costly one. He likely would have been happier if he could have spent his remaining years in his own home.”
As a certified senior adviser, Hardecker wanted to introduce a solution that could help meet the evolving needs of older adults. He started by talking to seniors and their families about their most pressing concerns and the roadblocks they encounter. “Many people would like to stay in their home as long as they can because it’s a source of happiness and health, but they also have a lot of equity tied up in the property,” he notes. “There are options like reverse mortgages that allow people to access their home’s value, but it often is a confusing and complicated process that is difficult to navigate.” With Truehold, the goal was to create an option that was fair, simple and transparent.
Through its leaseback program, Truehold purchases the house at a fair market value verified by third parties and comparable transactions in the area. Then, the previous homeowners are welcome to rent the property for as long as they wish. Truehold covers property taxes as well as all maintenance, allowing seniors to maintain their independence with less stress. “We start every conversation with what is best for the client,” Hardecker says. “Our goal is to try and present them with all of the options available. Approaching every scenario from that perspective ensures a better experience for everyone.”
Along with the leaseback model, Truehold also offers seniors the option to rent other properties it owns. “It’s great for people who want to downsize but still stay in the same community and remain close to family,” Hardecker says. “Each house is fit to be a safe environment for older adults. We want to work with our clients for as long as possible, so our goal is to provide a pleasant and comprehensive experience that evolves with their changing needs.”
Hardecker notes that while Truehold is new to St. Louis, the company is looking forward to creating connections with the community. “We want to ensure that people’s homes remain a source of comfort and joy, rather than becoming a burden,” he says. “We view this as a community endeavor. We’re focused on building relationships and hope to be a partner to folks as they embark on the journey of their golden years.”
Truehold’s innovative sale-leaseback model offers seniors an option to access their home equity without moving or taking on debt. The program also removes the burden of maintenance, allowing them to age in place comfortably. For more information, call 314.353.9757 or visit truehold.com.
Cover design by Julie Streiler
Cover photo courtesy of Truehold
Pictured at top: CEO and founder Brian Hardecker with his family
Photo courtesy of Truehold