So you think you might be ready for independent senior living? Finding a home that removes all the barriers so that you can live a more active, stress-free lifestyle is the first step. Understanding the costs associated with an independent living community will help ensure that your decision is the right one for you.
Take an In-depth Look at Your Current Monthly Expenses
Expenses add up when you live in a home especially when you can’t do it yourself and you have to hire out for every little repair or service. Things like mowing, snow removal, repairs, taxes, utilities, cable, internet, TV, all add up and in the end you might be surprised how much you really are spending on staying in your home. Fill out our Affordability Guide Worksheet for a quick comparison to help see how much you are spending monthly.
Refundable Entrance Fee Model Versus Monthly Rental Fee Model
Ávila, like so many independent communities, offers a flexible and predictable financial strategy with it’s refundable entrance fee model. A refundable entrance fee model is a smart and effective solution to managing your senior living costs. The entrance fees allows Ávila to offer lower monthly fees compared to other non-entrance fee based communities.
Ávila’s 50%, 80% and 90% refundable entrance fee takes a scaled approach that ensures proper long-term utilization of your savings and equity, while providing safekeeping of hard-earned assets while you live here. The fee is due upon arrival and can be transferred to your estate for estate-planning purposes or refunded if you decide to leave the community.
Take the Time to Compare. We did!
We compared our 80% refundable option to another highly respected community right here in Albany. Looking at their 75% option and Ávila’s 80% refundable option, our refundable amount, monthly service fees and total out of pocket expenses combined put more dollars back into your estate. Remember, we offer several refundable entrance fee options and will help you determine which fits your financial planning goals! Read our affordability comparison sheet to see the advantages of entrance fee communities, refundable options and more. Click here to read our Affordability Fact Sheet
Did you know that communities without refundable entrance fee models put residents at risk of higher monthly rental fees and less financial stability as you spend down your liquid assets?
That’s why for many the assurance of a prepaid refundable model is ideal. In fact, in most cases, the fee is considered an asset in your portfolio since it is returned as part of your estate. Ávila’s entrance fee model is a predictable and flexible financial planning tool for those who like to plan for the future. Download our Affordability Fact Sheet to learn more.
So when you compare the data shown, a non entrance fee community over a 10 year period will cost you approximately $704,760. None of those dollars are ever returned to you or your estate! The two Avila scenarios presented show you the savings based on the Bolton model and the custom entrance fee you choose. The total out of pocket savings is significant and the amount refundable is substantial.
Bottom line, an entrance fee based community actually preserves more of your dollars over the long run versus a non-entrance fee based community. Refundable entrance fee models are a smart and effective solution to managing senior living costs. Plus, the entrance fee models helps to keep monthly service fees lower for the entire community compared to other communities! Ávila’s refundable entrance fee model takes a scaled approach that ensures proper long-term utilization of your savings and equity, while providing safekeeping of hard-earned assets while you live here. The fee is due upon arrival and can be transferred to your estate for estate-planning purposes or refunded to you if you leave.
All-inclusive Monthly Fees
As an Ávila resident, you won’t pay property taxes on your home. And you won’t receive monthly utility bills. Ávila’s all-inclusive, predictable monthly fees cover all your monthly expenses, including utilities, meal plans, security, internet, wi-fi, cable, transportation, home maintenance and community services, housekeeping services and on-site entertainment too. The days of surprise repairs and piles of bills to stay on top of are behind you.
Taking a closer look at your financial situation is important. We are here to help you make the best decision you can. Give us a call to get more answers and learn more!