What will Ensō Verde cost?
The question people often—and understandably—ask is how much it will cost to live at Ensō Verde. Ensō Verde is a Life Plan Community, which means residents’ fees pay for both their current and future needs. We have provided basic information below, but we welcome you to visit the Preview Center and discuss the options more fully. We also welcome questions from your family members or financial advisors.
No matter where you live, there are costs involved, from rent or a mortgage to utilities and taxes. By offering a range of living and contract options, we believe we offer value and peace of mind for you and your loved ones for years to come.
Are there tax advantages?
Tax laws are, of course, constantly evolving and always subject to interpretation, but recent legal precedents have introduced favorable tax benefits for seniors residing in a Life Plan Community who have sought to deduct portions of their deposits and fees. Of course, you and your tax preparation professional should consult closely to determine the best strategy for your circumstances.
Life Plan Community Model
There will be an entrance fee and monthly fees that will range based on the size and configuration of each residence, and there will be variable options for repayable percentages of the entrance fee, which have yet to be determined.
The costs of creating Ensō Verde are comparable to what you might pay to build your own comfortable and beautiful home in Ventura County. Ensō Verde will benefit from the construction of so many new homes, which will assist with the land purchase and building of additional community spaces including multiple dining venues, a gymnasium, pool and numerous other amenities.
The fees will reflect the costs of the services and amenities provided to the members of the community. A portion of these fees may be tax deductible. As the community nears completion, we will offer more guidance regarding the percentage of expenses related to health care that may enable one to take a deduction for a small portion. Please consult your tax advisor for more information.
What is an entrance fee?
With payment of the entrance fee, residents have opportunities to move to other levels of care as their needs change. The amount of the one-time fee is based on the size and location of the residence chosen. Ensō Verde offers a 75% repayable contract, meaning that 75% is repayable to the resident or their estate upon the death or relocation of the resident.
What is a monthly service fee?
Combined with the entrance fee, the monthly service fee is an inclusive charge that varies with residence size and number of occupants. Monthly service fees cover the cost of a variety of services, such as:
- Chef-prepared gourmet meals
- Interior maintenance
- Exterior maintenance
- Utilities (heating, air conditioning, water, electricity, cable television, WiFi and internet access)
- Housekeeping
- Scheduled transportation
- Concierge services
- Community amenities
- Comprehensive Wellness Programs
- Most activities and events
- Fitness center