Let’s Talk About Value
Here’s the first thing you should know about choosing Penick Village: we’re a not-for-profit mission, so all of our fees are for the benefit of our residents. In exchange for a one-time Entrance Fee and a Monthly Service Fee, you’ll enjoy:
- A comfortable home, cottage, or apartment
- Access to all Penick Village services and amenities
- Dining allowance
- Guaranteed lifetime access to a continuum of on-site health services, should you ever need them
- A vibrant community of neighbors who quickly become friends
We understand that one size does not fit all
Entrance Fees are based on the size and location of the residence you choose, but here are the nuts and bolts of how they work:
- The Basic Entrance Fee is a 48-month declining option that entitles you to a partial refund within the first 48 months of residency. Your initial Entrance Fee amount will be reduced by 6% on the first day of your first month of occupancy, then 2% per month for any portion of each month the residence is occupied for the next 47 months. After the beginning of your 48th month of occupancy, the Entrance Fee is fully amortized and not refundable.
- Our 50% Refundable Option* entitles you to a partial refund of your Entrance Fee of not less than 50% of your initial Entrance Fee. Your initial Entrance Fee amount will be reduced at the rate of 5% during your first month of residency, 4% for each of the next 11 months, and 1% during your 13th month of residency.
- Our 90% Refundable Option* entitles you to a partial refund of not less than 90% of your initial Entrance Fee. Your initial Entrance Fee amount will be reduced at the rate of 5% during your first month of residency, then 1% for each of your next 5 months of residency.
Any refunds will be paid only after you have permanently left the campus, and your residence has been re-occupied.
*Our 50% and 90% Refundable Options are only available to residents under the age of 85.
Try Penick Village on for size! To learn more or to schedule a tour of our extraordinary Life Plan Community in Southern Pines, NC, please fill out the request form or call 910-692-0300.