Choosing the right retirement community is one of the most important decisions you’ll make. With numerous senior living communities available, understanding retirement community pricing—especially entrance fees—is essential to making an informed choice. Not all retirement living options are the same, and the differences can significantly impact your future financial security and peace of mind.

A Life Plan Community, also known as a Continuing Care Retirement Community (CCRC), offers more than just the active, maintenance-free independent living lifestyle you want today. These communities provide a continuum of care designed to address your needs as you age, delivering peace of mind you won’t find living at home.

UNDERSTANDING RETIREMENT COMMUNITY COSTS

Category

Key Information

Sandhill Cove Example

Contract Types

Type A (LifeCare^®), Type B (Modified),

Type C (Fee-for-Service), Rental

Type A LifeCare^® Contract

Average Regional Entrance Fee

$40,000 to $2+ million (AARP)

Starting at $218,000

Factors Influencing

CCRC Entrance Fees

Residence size, number of occupants, contract type, location, refund options

Apartment home or villa options available

Monthly Costs (CCRC)

Covers services, amenities, care access

Starting at $5,627/month

Additional CCRC Fees

May include care transition fees, community fees (varies by contract)

Predictable monthly fees with LifeCare^®

Important Considerations

Tax benefits, refund options, care guarantees, monthly service fee inclusions

Potential tax deductions on entance fee and monthly fees*

*Consult your financial advisor or accountant for eligibility based on your individual portfolio.

WHAT ARE ENTRANCE FEES FOR RETIREMENT COMMUNITIES?

An entrance fee is a one-time payment made prior to moving into Continuing Care Retirement Communities (CCRCs). Senior living entrance fees are determined by several factors:

Residence size—Larger apartment homes or villas have higher entrance fees
Number of occupants—Single or double occupancy affects pricing
Type of contract—LifeCare^®, Modified, or Fee-for-Service options
Location and market rates—Retirement community cost typically reflects area home prices

Understanding the Range

According to AARP, entrance fee amounts can range from $40,000 to over $2 million. The cost of senior living typically reflects the prices of homes in the surrounding area, making location a significant factor in retirement community pricing.

Potential Tax Benefits

Many people don’t realize that CCRC entrance fees may offer tax advantages. In some Life Plan Communities—particularly those with LifeCare^® contracts—you may deduct:

A portion of the entance fee paid in the first year
A portion of monthly costs paid each year

These are considered prepaid medical expenses. Your accountant or financial advisor can provide guidance on eligibility based on your individual financial situation.

**Sandhill Cove’s LifeCare^® Approach**

At Sandhill Cove, a Life Plan Community offering LifeCare^® in Palm City, Florida, the entrance fee starts at $218,000, ensuring seamless access to higher levels of care if your needs change. Our on-site health services include:

Most significantly, care is delivered at predictable monthly fees that offer protection from rising senior care costs, financial predictability, and asset preservation.

ARE ENTRANCE FEES REFUNDABLE?

The simple answer? It depends. Life Plan Communities may offer refundable entrance fees or non-refundable entrance fees, each with distinct advantages.

Refundable Entrance Fee Options

Pros:

A portion of the fee can be returned to the resident if they choose to move
Funds return to their estate if they pass away
Example: Sandhill Cove offers 10% or 75% return-of-capital plan options

Cons:

Higher refundable rates require higher entrance fees up front
Less initial affordability compared to non-refundable options

Non-Refundable Entrance Fee Options

Pros:

Significantly lower entrance fee
More accessible entry point for many seniors

Cons:

Money is not returned to the resident if they choose to move
No funds returned to their estate after passing

Important Considerations: When evaluating refund options, consider your estate planning goals, liquidity needs, and long-term financial strategy. Many families find that refundable plans provide peace of mind for estate preservation.

FACTORS INFLUENCING CCRC ENTRANCE FEES

Multiple elements determine retirement community prices beyond just the residence itself:

Location and Regional Market Rates

Communities in high-cost areas typically have higher entrance fees
Florida’s Treasure Coast offers competitive pricing compared to major metropolitan areas
Local real estate values influence retirement community cost structures

Level of Care Included

LifeCare^® (Type A) contracts command higher entrance fees but provide unlimited care
Modified and Fee-for-Service contracts offer lower entrance fees with different care structures
Priority access to skilled nursing and assisted living facilities varies by contract type

Amenities and Services

Resort-style amenities increase value and entrance fees
Fitness centers, multiple dining venues, and waterfront locations affect pricing
Communities with extensive wellness programs may have higher costs

Residence Features

Square footage and floor plan layout
Villa versus apartment home living
Views, location within the community, and customization options
Balconies, patios, and outdoor spaces

Refund Structure

Higher refund percentages require higher up-front entrance fees
Non-refundable options provide lowest entry point
50%, 75%, or 90% refund plans available at many communities

OTHER CCRC FEES: UNDERSTANDING MONTHLY COSTS

Beyond the entrance fee, understanding monthly service fees is crucial for budgeting your retirement living expenses.

What Monthly Costs Typically Cover

Home Maintenance and Utilities:

All interior and exterior home maintenance
Weekly housekeeping and flat linen services
Utilities (varies by community)
24-hour security and emergency response system

Dining and Nutrition:

Multiple dining venues with flexible meal plans
Meals and special dietary accommodations
Casual and fine dining options

Wellness and Fitness:

Access to fitness centers with state-of-the-art equipment
Outdoor swimming pool and whirlpool facilities
Group fitness classes and personal training
Wellness programs and health screenings

Transportation and Convenience:

Scheduled transportation for shopping and appointments
Group outings and day trips
Concierge assistance

Social and Recreational:

Planned events and special activities
Use of all community spaces (libraries, game rooms, studios, auditoriums)
Walking and biking areas
Specialized hobby spaces (woodworking shops, art studios)

At Sandhill Cove:

The monthly fee starts at $5,627 and includes all the services and amenities listed above, plus access to our waterfront location with croquet, putting and chipping areas, and our exclusive partnership with the National Institute of Fitness and Sport (NIFS).

Comparing Costs: CCRC vs. Staying at Home

For many seniors, a Life Plan Community makes financial sense. Consider the costs of living in your current home:

Mortgage (if applicable)
Property taxes
Home insurance
Home maintenance, upkeep, and repairs
Utilities, cable TV, and Wi-Fi
Gym membership
Lawn care and landscaping
Security systems
Groceries and meal preparation
Transportation and vehicle maintenance

When you total these expenses, many find that the monthly fee at Continuing Care Retirement Communities becomes very reasonable—especially when considering the added value of freedom from household responsibilities and guaranteed access to care.

IMPORTANT CONSIDERATIONS WHEN EVALUATING RETIREMENT COMMUNITY PRICING

Financial Predictability and Protection

One of the most significant advantages of LifeCare^® contracts is financial predictability:

Residents pay roughly the same monthly fee regardless of level of care required
Protection from rising senior care costs
Minimal annual increases (typically tied to cost of living)
Peace of mind for financial planning

Asset Preservation

For many retirees, protecting assets for their estates is crucial. Consider:

Refund options that return capital to your estate
Tax deductions that reduce overall cost
Fixed monthly costs that prevent depletion of savings due to unexpected care expenses
Florida’s homestead exemption and asset protection laws

Community Financial Stability

When evaluating senior living communities, investigate:
- Management company experience and reputation
- State oversight and certification
- Financial disclosure requirements (such as Florida’s 651 statute)
- Occupancy rates and community longevity

UNDERSTANDING THE TYPES OF COMMUNITY CONTRACTS

Most retirement communities offer one or more of the following contract types:

**Type A LifeCare^®**

This comprehensive option includes housing, residential services, amenities, and unlimited health-related services with minimal annual increases.

Key Features:

Residents pay roughly the same monthly fee regardless of level of care required
Financial predictability and protection from rising costs
Unlimited access to skilled nursing, assisted living, and memory care
Highest peace of mind but higher entrance fee

Ideal For: Those who prioritize financial security and want protection from escalating health care costs

Type B Modified Plan

This mid-tier option includes housing, residential services, amenities, and a limited amount of health care services.

Key Features:

After free health care is exhausted, a modest discount is applied to additional services
Lower entrance fee and monthly service fee than Type A
Some protection from market-rate care costs
Balance between affordability and security

Ideal For: Those comfortable with some financial risk in exchange for lower up-front costs

Type C Fee-for-Service

This entry-level option includes housing, residential services, and amenities; health care services are not included.

Key Features:

Residents may have priority access to health care services
All care is paid at market rates
Lowest entrance fee among contract options
Maximum flexibility with minimal up-front commitment

Ideal For: Those who are very healthy, have long-term care insurance, or prefer to pay for services as needed

Rental Agreement

This option requires no entrance fee.

Key Features:

Month-to-month or lease arrangements
The community may offer care at market rates
No up-front capital investment
Maximum flexibility to come and go

Ideal For: Those who want to “try before they buy” or prefer not to make a large up-front financial commitment

EXPLORE THE VALUE OF A LIFE PLAN COMMUNITY

Are you considering making the move to senior living? Choosing the right retirement community pricing structure can protect your financial future while providing the lifestyle and care you deserve.

As the only LifeCare^® community in Martin and St. Lucie counties, Sandhill Cove offers a resort-like lifestyle with a variety of health service options, if ever needed in the future. Our waterfront location on Florida’s Treasure Coast provides the perfect setting for an active, fulfilling retirement.

Contact us today to talk through your options and schedule a visit to experience the real value of a Life Plan Community for yourself.

What Are CCRC Entrance Fees for Retirement Communities In FL?

UNDERSTANDING RETIREMENT COMMUNITY COSTS