How to evaluate senior living financial contracts

When reviewing senior living financial contracts, the goal is not just to understand what you will pay today, but to see how costs, services, and care options may change over time. At Londonderry Village, a Continuing Care Retirement Community, pricing depends on the home style and the level of care, so reading the contract carefully can help you compare options, plan with confidence, and avoid surprises later.

Start by identifying the contract type

A strong senior living financial review begins with knowing which level of living the contract covers. At Londonderry Village, rates vary across:

• Independent Living
• Personal Care
• Nursing Care

Each level has a different pricing structure and different services included. That is why two contracts can look very different even within the same community.

Living option	How pricing is typically structured	What to confirm
Independent Living	Entrance fee or no-entrance-fee option, plus monthly maintenance fee	What home style you’re choosing, what monthly costs cover, and what is excluded
Personal Care	Daily rate billed on a 30-day cycle	Which services are included in the daily rate and how room type affects cost
Nursing Care	Daily rate billed monthly	What support services, supplies, and care are included

Review every fee, not just the monthly amount

A common mistake is focusing only on the monthly fee. In senior living financial contracts, you should review the full cost picture.

Important fees to look for

• Entrance fee At Londonderry Village, the entrance fee is a one-time fee paid by the new resident moving to campus. It ranges from $99,800 to $458,300.
• Monthly maintenance fee This fee covers items such as taxes, water, sewer, trash, and more. At Londonderry Village, these fees range from $1,193 to $3,087 per month.
• Application fee For Independent Living, Londonderry Village charges a $200 non-refundable application fee.
• Down payment at signing If you choose the entrance fee option for Independent Living, 10% of the entrance fee is due at contract signing, with the remaining 90% due at settlement. If you choose the No Entrance Fee contract, one month’s rent is due at contract signing.

Why this matters

A contract may look affordable at first glance, but a larger upfront payment, monthly fee increase, or care-transition cost can affect your long-term budget. Ask for the full payment timeline in writing.

Understand what is included and what costs extra

A good senior living contract should clearly define what is included in your monthly or daily fee.

At Londonderry Village, Independent Living monthly fees may include:

• Use of the Wellness Center, including gym, pool, and fitness classes
• Upkeep of appliances supplied in your home
• Priority access to the Health Center if needed

Common costs not included in the monthly fee:

• Your own meals
• Electric usage, except in the Wheaton, Wayland Garden, and Hybrid Villa Apartments
• Telephone
• Cable
• Internet

For Personal Care and Nursing Care, rates include additional services. For example, Personal Care rates include room, meals, personal laundry facilities, laundry labels, laundry service, housekeeping, social, recreational, and spiritual services, plus Wellness Center membership with physician consent. Nursing Care rates include room, meals, nursing care, laundry services, housekeeping, personal hygiene supplies, restorative nursing support when required, and social, recreational, and spiritual services.

Read the refund and credit language carefully

This is one of the most important parts of any senior living financial contract.

If you move from Independent Living to the Health Center or off campus, Londonderry Village’s Entrance Fee Contract provides a credit of no less than 25% or the unamortized equity of your upfront investment, whichever is higher. That credit becomes available when the home is reoccupied by a new resident and can be applied toward:

• The cost of your stay in the Health Center on campus, or
• A refund to you or your estate if you no longer reside at Londonderry Village

If two people share the residency

If you have a joint agreement of residency, refunds are only provided when both people have vacated the home. This is a detail families should never overlook.

Ask how care changes affect your finances

One of the biggest advantages of a Continuing Care Retirement Community is the ability to move between levels of care if needs change. But every contract should explain how that transition affects your finances.

When evaluating a contract, ask:

• What happens if I move from Independent Living to Personal Care?
• What happens if I need Nursing Care later?
• Will my monthly or daily rate change immediately?
• Are there move-in, move-out, or transfer fees?
• Is there a priority process for accessing higher levels of care?
• How does my contract protect me if my health needs increase?

At Londonderry Village, Independent Living residents have priority access to the Health Center if or when it is needed, which can offer peace of mind as care needs evolve.

Confirm whether the no-entrance-fee option is still available

Some communities offer multiple pricing models, and that can make a meaningful difference in financial planning. Londonderry Village offers a No Entrance Fee program for Independent Living, but the community notes that the program may end at any time under its discretion.

If that option matters to you, ask whether it is currently available and whether it fits your long-term goals.

Compare contract details before you sign

A careful contract review is less about finding a “perfect” agreement and more about finding a clear, sustainable one. Before you commit, look for these items:

• Exact fee amounts and how often they may change
• What services are included in the base rate
• What services cost extra
• Refund and credit terms
• Care-transition rules
• Occupancy rules for couples
• Any non-refundable fees
• Any deadlines for deposits or settlement payments

It can also help to bring in a trusted family member, financial advisor, or elder law attorney. A second set of eyes can make complicated language much easier to understand.

Questions to ask before signing

Use this checklist during your review:

1. What is the total upfront cost?
2. What does the monthly or daily fee include?
3. What is excluded from the fee?
4. How and when can rates change?
5. Is the entrance fee refundable, partially refundable, or credited later?
6. What happens if I move to a higher level of care?
7. Are there different costs for different home styles or room types?
8. Is there a non-entrance-fee option, and is it still available?
9. Are any fees non-refundable?
10. What documents do I need before move-in?

For Personal Care and Nursing Care at Londonderry Village, applicants should also be prepared to provide the necessary paperwork, such as a Power of Attorney, Living Will, and health insurance card, along with the required application materials.

A thoughtful financial review supports peace of mind

Evaluating a senior living financial contract is really about protecting your future comfort, care, and confidence. The best contracts are the ones that are clear, understandable, and aligned with your needs.

At Londonderry Village, residents find more than housing and healthcare. They find a community committed to quality services, warm support, and living with purpose. Taking the time to review the financial details now can help you move forward with greater clarity and peace of mind.