Fee Descriptions
Independent Living
Choose the Plan That's Right for You
The best way to know which of our financial plans is best for you is to meet with your marketing counselor. We will help you evaluate your personal situation and present you with your options and a recommendation. We understand everyone has different goals, so once we understand yours, we can provide you with the right information to consider.
Fee Description
There are two types of fees associated with a CCRC: Entrance Fees and Monthly Service Fees. The Entrance Fee is a one-time, upfront cost for the residence and the agreement that guarantees lifetime residency and access to the continuum of care. The entrance fee is based on the size of residence, number of occupants, the refund plan and whether the LifeCare or LifePlan agreement is chosen.
Monthly service fees are based on the size of the residence, number of occupants and whether the LifeCare or LifePlan agreement is chosen.
Compare the Value
The value of calling Warwick Forest home is greater than the fees alone: it is represented in the freedom, peace of mind and security offered by the active retirement lifestyle within a Continuing Care Retirement Community.
Very often people assume that once their mortgage is paid off it is less expensive to stay in their current home throughout their retirement years. However, maintaining a home, at any stage of life, is not without costs. Use the comparison chart below to see how your current costs of living in your home can compare to living at Warwick Forest.
Refund Options
- Standard Declining Refund Entrance Fee: This plan allows for a declining refund over a 50-month period. The amount available for a refund declines by 2% per month over the first 50 months of residency. This offers the lowest initial investment.
- 50% Refundable Entrance Fee: This plan allows for a return of 50% of the original Entrance Fee paid upon residency. This plan is not available to those over age 85 and has a higher initial investment than the Standard Declining Refund plan.
- 90% Refundable Entrance Fee: This plan allows for a return of 90% of the original Entrance Fee paid upon residency. This plan is not available to those over age 85 and has a higher initial investment than the two other refund options.
Refunds are paid per the terms of the Residency Agreement. For those choosing the LifeCare agreement, a portion of your Entrance Fee and monthly service fee maybe tax deductible as a prepaid medical expense; you should consult your tax advisor for eligibility.
To learn more about our financial options and which is best for you, please contact us at (757) 886-2200.