When you’re deciding where and how to spend your retirement years, you know you want several things from this new, exciting step in life. For most people, at the top of the list are typically: a worry-free lifestyle full of opportunities to enjoy your well-earned free time; financial stability and security; and peace of mind for yourself and your family. Fortunately, Woodlands in Huntington, WV, stands out among the other retirement communities in WV as an affordable, secure and enjoyable option.
Ideal living at a modest cost
Many people who consider living at one of the retirement communities in WV often wonder, “Can I afford one of those places?” If you’re skeptical, it will be helpful to know that choosing to live at Woodlands is an excellent value for many reasons.
First, when you do the math, your monthly bills at Woodlands will likely be less than they are at your house. This is because at Woodlands, you never need to worry about property taxes or paying for home maintenance, repairs or utilities. Plus, your monthly service package also covers dining, activities, amenities, and a lot more. The numbers add up: It’s a strong value.
Next, the one-time entrance fee that you pay when you move in to Woodlands completely covers the cost of your customizable residence. The cost of the entrance fee directly corresponds to the residence that you select, and many members of our community have found that the sale of their house covered their entrance fee with room to spare. That means moving to Woodlands could free up some funds to splurge a little more often. Maybe spoil the grandkids (even more) or enjoy a meal in town at one of your favorite restaurants—isn’t that what retirement is made for, after all?
Lastly, choosing to retire in West Virginia makes Woodlands affordable because West Virginia is already an affordable state in which to live. The cost of living in West Virginia is reasonable. At Woodlands, that translates to modest fees especially when comparing rates with communities in the tri-state area, especially given the LifeCare aspect.
The value of LifeCare
At Woodlands, our LifeCare contract means that your health care costs will remain stable. A LifeCare arrangement ensures that there will be no increase to the monthly service fee if you need a higher level of care, such as assisted living. LifeCare also guarantees access to on-site health care services, if the need arises, at a substantially reduced, controlled cost. Typically, an entrance fee for a LifeCare contract is higher, but with it comes invaluable peace of mind and financial security for the long term.
There are also the tax benefits to consider! With your LifeCare contract, your entrance fee is classified as a one-time health care cost and is partially tax deductible. This is an advantage unique to Woodlands, because among the retirement communities in West Virginia, it is the only one in the state to offer comprehensive LifeCare.
Additionally, with LifeCare, a portion of your monthly service fee is also a tax deduction, so living at Woodlands can provide a good amount of tax relief. In some cases, your tax liability can even be reduced to zero. Of course, always be sure to consult your tax advisor, as they will be able to provide an exact look at the benefits available for your specific scenario.
Priceless peace of mind
Of course, upfront affordability is important when considering a retirement community, but your long-term financial security and stability are just as crucial. In choosing your retirement destination, you want peace of mind, which has no price tag. Here are a couple notable ways that Woodlands weaves in peace of mind to your retirement lifestyle.
Choosing Woodlands, as mentioned earlier, means that your living expenses will remain stable. Your monthly fee will not substantially increase year to year. There aren’t any surprise bills for home repairs or appliances to replace; it all stays steady and it’s all covered by your contract.
Perhaps the most secure element of living at non-profit community like Woodlands is that you will always have a home here, even if you outlive your financial resources. Our Foster Foundation makes this possible, and ensures that members of our community can stay where they’re comfortable and surrounded by caring friends and staff.
When taking it all into account, living at Woodlands, one of the premier retirement communities in West Virginia, is more than simply affordable—it’s a good decision!
We hope that you keep Woodlands in mind as you continue searching for your retirement destination. If you have questions about anything in this article or would like specific pricing information, simply click here or call our helpful team at 304-697-1620 today.