It may seem counterintuitive, but entrance fees can ultimately make retirement communities more affordable—and provide greater predictability.
The entrance fee is a sum of money paid upfront to secure a place in the community. This upfront investment can actually lower your monthly fee, which covers services such as maintenance, cleaning and transportation.
“People who are planners want security and peace of mind,” says Robbi Hogan, director of sales at Redwood Terrace. “They want to be a part of a community for the rest of their lives. In a month-to-month, it can be a revolving door of people moving in and out. There’s a sense of stability in an entrance fee community.”
Clickhere to learn more about entrance fees and how they work.