Ready to retire worry-free while safeguarding your future?

Oak Crest offers exceptional living at an affordable cost

Created date

April 28th, 2020
Two women go for a walk around the beautiful campus at Oak Crest.

Oak Crest 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 2020 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 myriad amenities and services, residents of Oak Crest, an Erickson Living-managed community in Parkville, 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. 

“When it comes to retirement communities, there are a variety of different business models out there,” says Colleen Stafford, director of finance at Oak Crest. “We offer a fee-for-service model, which simply means you only pay for the services you use.” 

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 Oak Crest.

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.

“The thing about living in a life care community is there is no way to predict how long you will be in each level of living or if you’ll ever need another level,” says Stafford. “If, for example, you are able to live independently for the rest of your life, then you would be paying over and above the level of care that you need for years. That can add up to be a big difference.” 

In contrast, because Oak Crest 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. 

Safe bet

There are two basic components to Oak Crest’s financial structure: a onetime entrance fee and a monthly service package that covers property taxes, utilities (including cable and phone), 24-hour security and emergency response, flexible dining plans, scheduled shuttle service, trash collection, and recycling 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 expenses 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. 

“In addition to being affordable, there’s a worry-free aspect to choosing Oak Crest because your apartment is maintenance-free,” says Stafford. “If something breaks, we are going to take care of it for you. Knowing that you won’t have any unexpected repairs makes it easy to budget for the year and financially plan for the future.” 

Not only do Oak Crest residents enjoy planning their budgets with confidence each month, but they also have access to a wide variety of amenities you likely won’t find in your home. An all-season swimming pool; fitness center; putting green; bocce courts; and nearly 200 different clubs, classes, and volunteer possibilities, as well as access to conveniences such as a bank, hair salon, store, on-site medical center, and computer lab, are all just a few indoor steps away. 

“Our mission is to make sure Oak Crest stays affordable for the average middle-class person. We have looked at our competition and what we offer for our price point compared to similar communities,” says Stafford. “We definitely have a much better value for what you pay when you factor in the incredible amenities and lifestyle offered at Oak Crest. It’s a smart investment.”

Oak Crest offers more than 20 floor plan sizes and styles, resulting in a wide range of affordable entrance fees and monthly service packages from which to choose. To find out more about your financial options, call 1-800-584-5929 to receive your free brochure and speak with a sales counselor.