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Friday, 01 September 2017 13:40

Money Matters: How Discounts Make a Difference

The financial side of retirement community living can be difficult for anyone to understand. With different pricing models, discounts and other factors, it can be overwhelming at times. Here, we’ll show you examples of the cost savings you can achieve by choosing Highpointe at Rebecca before our current discounts expire.

We offer three pricing options – 1) 6-year amortizing, 2) rental, and 3) 75 percent refundable – to allow people with different financial situations the ability to afford an apartment. The three options are designed to be mathematically equivalent based on averages.  Below is a breakdown of how each pricing option works and how much you can save by making the decision before our 6 percent pre-construction discount expires.

The 6-year amortizing option was designed for those of you who prefer lower monthly costs. If you choose this option, your higher entrance fee essentially pre-pays a portion of your monthly fee so that your monthly costs stay down, regardless of how long you reside in the apartment. A portion of your entry fee is refundable, and it decreases each month that you occupy your apartment. After six years, you will no longer be eligible for a refund on any part of your entrance fee – but your low monthly fees will not change (except for the minor annual inflation adjustment).

If you apply the 6 percent pre-construction discount to a TWO BEDROOM APARTMENT using the 6-year amortizing pricing option, your savings would be $16,320 over 10 years:

• Regular entrance fee and monthly fee: $142,000 and $1,080

• With the 6 percent discount applied: $133,480 and $1,015

• Entrance fee savings: $8,520

• Monthly fee savings over a 10-year period (without adjusting for inflation): $65 per month, $780 per year, $7,800 savings over 10 years

• Total potential savings over 10 years: $16,320

The rental pricing option was designed for those of you who have a higher-than-average monthly income and want to keep your money invested during your retirement. If you choose this option, you pay the absolute lowest entry fee (which is non-refundable) but a higher monthly fee.

If you apply the 6 percent pre-construction discount to a TWO BEDROOM APARTMENT using the rental pricing option, your savings would be $20,700 over 10 years:

• Regular entrance fee and monthly fee: $25,000 and $2,650

• With the 6 percent discount applied: $23,500 and $2,490

• Entrance fee savings: $1,500

• Monthly fee savings over a 10-year period (without adjusting for inflation): $160 per month, $1,920 per year, $19,200 savings over 10 years

• Total potential savings over 10 years: $20,700

The 75 percent refundable option was designed for those of you who want financial backup no matter how many years you live at Highpointe. If you choose this option, you or your estate will receive a refund of 75 percent of your entrance fee within 60 days of your apartment being vacated, regardless of whether your apartment has been reoccupied.

If you apply the 6 percent pre-construction discount to a TWO BEDROOM APARTMENT using the 75 percent refundable pricing option, your savings would be $24,060 over 10 years:

• Regular entrance fee and monthly fee: $181,000 and $1,830

• With the 6 percent discount applied: $170,141 and $1,720

• Entrance fee savings: $10,860

• Monthly fee savings over a 10-year period (without adjusting for inflation): $110 per month, $1,320 per year, $13,200 savings over 10 years

• Total potential savings over 10 years: $24,060

If you are a veteran or the spouse of a veteran, these potential 10-year savings can be even greater with our 3 percent veteran’s discount on your entrance fee (ask about our eligibility requirements).

Another early-bird incentive was announced in August: a 10 percent discount on future health care services at Concordia at Rebecca Residence, located on the same campus. This new discount could save you thousands if you are ever in need of a higher level of care in the future. Concordia at Rebecca Residence offers short-term rehabilitation, personal care and long-term nursing care, and the discount would be applied to your Daily Rate and Level of Care fee – generally the two major costs for these types of care.

And making the move to Highpointe is even more cost-effective when you consider all of the expenses the monthly fee includes: electric, natural gas/ heating expenses, water and sewage, garbage, basic cable, dedicated internet, continental breakfast, personal transportation (limited), scheduled transportation (limited), concierge services, property taxes, activity programming, use of common spaces, valet services (limited), snow removal and landscaping, routine maintenance, 24 hour electronic surveillance and emergency response system. And you can't forget the priceless worry-free lifestyle

Many of our new residents have told us that they will be able to live at Highpointe for less than living at their current house. We think you’ll find that Concordia’s quality, security and value make it the best option for you. If you have questions or would like more information about Highpointe, one of our admissions counselors would be happy to help. Call 724-444-1521 to schedule an appointment or click here to use our simple contact form.

Click here to view pricing and floor plans for our one-bedroom, two-bedroom, and large two-bedroom apartments.