Medical emergencies happen when we least expect them, leaving us with financial hardships that last years if not decades. You’re probably strapped for cash if you’re facing a medical emergency. After all, the average American has to pay thousands of dollars just to meet their deductible. You could deplete your emergency fund, making your situation even riskier. The best way to fund a medical emergency is to sell your home for cash. Want to learn more? Here’s why a medical emergency can cause you to sell your home:
You Have a High Deductible
The average annual deductible in the United States is over $4,300 for individual plans and $8,400 for family plans. If you can’t pay your deductible, you may need to sign up for a payment plan with your healthcare provider. These payment plans generally charge interest (albeit not as much as credit cards). Nevertheless, it’s always a good idea to avoid going into more debt if you have the opportunity to do so. The best way to avoid going into debt is to sell your home to a cash buyer like RHED Key Properties. We buy homes in any condition, making it easy to sell your home as is.
You Can’t Work Anymore
Whether you suffer a stroke or heart attack, a medical emergency can put you out of work for months or longer. The average American worker only receives eight paid sick days annually, which is hardly enough to overcome a minor injury, let alone a major medical emergency. While you may qualify for disability benefits from the state and federal government, these benefits generally don’t replace your entire income. Losing all (or a portion) of your income can make it difficult to pay your mortgage and put food on the table, especially if you’re the main breadwinner. Therefore, you may need to tap into your home’s equity to keep you afloat until you can return to work. Renting an affordable apartment, living with family, or purchasing a cheaper property are all viable options during this transitionary period.
You Can No Longer Access Parts of Your Home
A medical emergency can leave you with a permanent disability. A disability can make it challenging (if not impossible) to access parts of your home, such as the basement or upstairs. While installing a chair lift is always an option, these devices can cost up to $8,000. Buying a ranch-style home is the best option if you’re suffering from mobility issues after a medical emergency.
You can sell your house in Alabama to RHED Key Properties to get a home accessible and accommodating to disabilities.
Facing a Medical Emergency? Sell to a Cash Buyer
If you’re facing a medical emergency, selling your home to a cash buyer is the best way to get funds to pay for living expenses and medical bills. RHED Key Properties is the leading source of cash home offers in Alabama, and there are zero fees to sell your home. We also buy all kinds of property, including homes with liens, houses facing foreclosure, and inherited property. If you’d like to sell your home in Alabama, please get in touch with our team today.
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