The Value of Senior Living: How Does Holland Home Compare?The greater Grand Rapids area has one of the highest geographic concentrations of Continuing Care Retirement Communities (CCRC) in the country. Each has unique pricing, entrance fee modeling, monthly fees, and varying amenities, making it difficult to evaluate your choices. To help you through the decision-making process, we have made many comparisons and crunched the numbers to give you a better idea of the value that Independent Living at Holland Home has to offer. (It comes in 3-18%* less annually than other communities in our area, but more on that later.)
Choosing the Right PlanWhen you move into our community, one of the first financial decisions you’ll have to make is which entrance fee plan to choose. There are three different options, and it really is just based on your personal preference and circumstance. Each option is made up of a refundable and non-refundable portion. The non-refundable portion is what pays for what we call our Lifecare Promise (which guarantees higher care to residents for the rest of their life, even if they outlive their financial resources). Remember, when you move into senior living, rather than buying property or real estate, you are buying into this agreement of lifelong care and housing. Should you ever move out of Independent Living to a higher level of care, the refundable portion will come back to you to spend as you wish. Here’s how the three entrance fee options break down (nonrefundable portion/refundable portion):
- 35/65 - Saves you money upfront and gives you a larger tax reduction.
- 50/50 - Our middle ground is also the most popular option.
- 75/25 - Saves you money in the long run.
Independent Living for LessIf you have already started looking into senior living communities in our area, you may already be aware of how different the pricing structures and offerings are. For example, some have meal plans included or weekly housekeeping. Holland Home’s offerings are more a la carte to maximize choice for our residents. But, this can make it difficult to compare what exactly you are getting for your money. Our Independent Living offerings include access to our award-winning Vibrant Living model, Lifecare Promise, modern facilities, energetic campuses, and expert care should you ever need it. We also have restaurants and cafes on campus, as well as take-away options, and our residences come with stylish kitchens where residents can continue cooking their favorite meals.
- A 1 bedroom w/ double occupancy costs: 18% less annually and 39% less/sq. ft.
- A 2 bedroom w/ double occupancy costs: 3.4% less annually and 35% less/sq. ft.
- A 3 bedroom w/ double occupancy costs: 17.4% less annually and 45.6% less/sq. ft.