Ready to retire worry-free while safeguarding your future?

Charlestown offers exceptional living at an affordable cost

Created date

April 16th, 2019
Charlestown operates on a fee-for-service basis, making it an affordable and secure choice among senior living communities.

Charlestown operates on a fee-for-service basis, making it an affordable and secure choice among senior living communities.

Real estate’s prime selling season is upon us, and if 2019 is your year to consider vibrant retirement living, no doubt financial considerations are at the top of your list.

Thanks to a solid financial structure that includes a predictable monthly service package, a refundable entrance fee, and a myriad of amenities and services, residents of Charlestown, an Erickson Living community in Catonsville, Md., can balance their budgets with confidence. They know, with certainty, that no matter what the future holds, their investment is safe and their future is secure.

“There are many different options when it comes to retirement communities,” says Pamela Stiner, director of finance at Charlestown. “Here at Charlestown, we operate on a fee-for-service model. This ensures that you are only paying for the services you receive and generally requires a lower upfront entrance fee as well.”

Explore your options

In Maryland, you’ll find 55-plus communities with detached homes and neighborhood amenities, senior apartments that operate on a rental basis, life care communities, and fee-for-service continuing care retirement communities like Charlestown.

Those who live at a senior rental community don’t buy into the property. They pay one monthly fee to cover their rent and use of on-property amenities.

Life care communities, another option, require a long-term, upfront financial commitment. Residents pay a substantial fixed monthly payment that remains the same as they progress through higher levels of care.

In contrast, because Charlestown operates on a fee-for-service basis, residents pay for advanced levels of care only if and when they need it. It’s a financial model that’s both affordable and secure for most retirees.

There are two basic components to Charlestown’s financial structure: a 90% refundable entrance fee and a monthly service package that covers property taxes, utilities, 24-hour security and emergency response, flexible dining plans, scheduled shuttle service, and trash collection at your door. The 90% refundable entrance fee secures an apartment home for as long as you live at the community and can be accessed to cover qualified continuing care health services if your health needs change (carefully read the Residence and Care Agreement for the conditions that must be satisfied before the provider is required to pay the entrance fee refund).

Maintenance and repairs, as well as services like professional landscaping and snow removal that typically would be additional expenses when living in a house, are also included, helping residents plan for their expenses with confidence.

More for your money

“We strive to provide the best value for price paid in the senior living market. To do this, a balanced approach is necessary to ensure short- and long-term financial stability,” Stiner explains.

“We invest in routine capital projects to address our infrastructure, lifecycle renovations, and modernization of apartments,” she adds. “As a not-for-profit 501(c)(3), we truly embrace the idea that we must be strong financial stewards of our residents, and each year we develop a business plan that requires the board of directors’ approval to ensure we maintain that overall balance,” she says.

Charlestown residents also have access to a wide variety of amenities. An all-season swimming pool; fitness center; bocce courts; 300 different clubs, classes, and volunteer possibilities, as well as access to conveniences such as a bank, hair salon, on-site medical center, and computer lab, are all just a few indoor steps away.

“Charlestown has so much to offer its residents and truly is worry-free living,” says Stiner. “You can enjoy your retirement and the comfort of knowing that should you need a higher level of care, home support, assisted living, memory care, and long-term care services are all available within the community.”

Francine Ashby has called Charlestown home for the last six years. For her, the move from her house in Catonsville made good financial sense.

“I spend much less here than I was in my house,” says Francine. “I didn’t realize how good the monthly service package actually was until I got here. I have more money to spend on myself because my day-to-day expenses like gas and electric, the water bill, even telephone and cable costs were much higher in my home than they are here.”

Francine warns people to avoid assuming they can’t afford Charlestown’s amenity-rich, worry-free lifestyle.

“Because Charlestown has so much to offer, I think people are under the misconception that they can’t afford it,” says Francine. “But it’s actually very affordable. The lifestyle is so stress-free here. I have found lots of people who enjoy the same things I do. I’m glad I made the decision to move. I think most people will tell you they wish they had moved sooner than they did.”