Why Do Life Care Communities Have Entrance Fees, and Are They Worth It?
Springmoor is the premier Continuing Care Retirement Community (CCRC) in Raleigh, North Carolina. It offers a gorgeously landscaped campus located a stone’s throw away from William B. Umstead State Park, as well as a vibrant community of active seniors looking to nourish their minds and enjoy all 43 acres of natural beauty. With a wide selection of apartment homes and villas, you will live a comfortable, maintenance-free lifestyle in this warm and welcoming Life Care Community. Life is good at Springmoor.
Like many Life Care Communities, Springmoor is an entrance fee community. When it comes to choosing a retirement community, it is important to understand the purpose and benefits of entrance fees.
What is an entrance fee?
In Life Care Communities, an entrance fee refers to a one-time payment that gives you access to all of the community’s services and amenities, from housekeeping to dining. Moreover, it opens the door to the full continuum of healthcare that a CCRC has to offer, and thus secures your future.
In addition to the entrance fee, residents pay an all-inclusive monthly service fee. This monthly service fee will cover maintenance, housekeeping, fitness instruction, concierge services, scheduled transportation, security, dining and much more. Both expenses will vary depending on your contract with the CCRC and the exact residence you choose.
Are entrance fees worth the cost?
Think of an entrance fee as an investment in your healthcare and lifestyle. In your house or in a rental/55+ community, the costs are unpredictable. Your house might suddenly require additional maintenance, your personal health needs may change, or property taxes and utilities might raise. All of these things are difficult to control and even harder to anticipate.
What if you didn’t have to worry about any of these things? What if your cost of living didn’t change even if your needs did? This is the kind of relief that Life Care Communities offer, thanks to the entrance fee model. Should your health needs ever change, you don’t need to move or pay significantly more money. Everything you need will be close, convenient and cost-effective. For life.
Ultimately, what an entrance fee offers you is peace of mind. Although you may never require healthcare or assisted living services, the future can always be a source of stress and “what-ifs.”
At Springmoor, you can rest easy knowing that any and all of your needs will be met.
Additionally, many Life Care Communities offer refundable or partially refundable entrance fees. Refunds can range from 50 percent to a full 100 percent. The refund arrangements act as safeguards so that no one ever feels “stuck” in his or her community. The goal of Springmoor is to take care of all of the necessities in your life so that you can continue living an active lifestyle today with the peace of mind for tomorrow.
If you are interested in learning more about Springmoor, call today at 919-651-4844 or click here to request a free information packet.