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5 Frequently Asked Questions and Answers: Everything You’ve Ever Wondered About Planning Your Move to Lakeside at Waterman Village

December 10, 2020

With construction well underway, active older adults like you are getting more and more eager to move to this exciting lakeside community. In fact, more than 100 individuals and couples from all over the country have already reserved their brand-new, customizable residences around the lake here in Mount Dora. Their plans are taking shape for this fulfilling next step!

Planning to move to a retirement community in central Florida—especially a brand-new one—is an empowering experience, and we’re sure you have questions about the process. So, we compiled this helpful list of five frequently asked questions, plus a few extra tidbits, to help make sure you have the info you need to feel confident about becoming a future resident at Lakeside at Waterman Village.

If the answer you’re looking for doesn’t appear here, don’t worry! You can dig deeper in our full FAQ blog archive or simply call our knowledgeable and friendly team at 352-385-1120.

  1. What is the Lakeside at Waterman Village deposit process like?

The first step toward securing your future at this lively neighborhood is to make a deposit on the residence of your choice and thereby become a Lakeside Depositor. The many benefits of becoming a depositor go far beyond just securing the home of your dreams, and you can learn about them all here.

Once you coordinate your appointment at our Lakeside Information Center, a member of our team will review the key details about this new neighborhood and answer any specific questions you have. Then, once you confirm your intent to deposit, you’ll complete a short application and proceed with the reservation process. This includes choosing your specific residency agreement—and your brand-new home!—which we’ll elaborate on in a second. For the full article detailing our deposit process, simply click here.

  1. What are the residency agreements and contract options?

Lakeside at Waterman Village was designed to be accessible to individuals and couples with different financial situations. Like most other retirement communities in Florida, we structure our residency agreements around an entrance fee.

The entrance fee is a one-time fee that covers your new home and guarantees access to on-site healthcare if the need ever arises. Its exact cost also completely depends on the residence and contract type you choose.

Of those contract types, Lakeside at Waterman Village will offer three primary plans:

  • The high-refund (75 percent to 85 percent) agreement ensures that upon leaving your residence, you or your estate will receive 75 percent to 85 percent of the original entrance fee you paid—guaranteed. This plan has the highest upfront cost, but assures maximum preservation of your financial assets and estate.
    • Special note: Until January 1, 2021, these high-refund plans are 80% and 90% refundable, so you can lock in the best estate preservation option before the new pricing takes effect. Click here to get in touch for details!
  • The reduced refund agreement has been a popular choice for many who have already chosen Lakeside at Waterman Village. It lets you move in for less cost upfront, keep control of a significant portion of your assets and guarantees that your estate will be refunded a large portion of your entrance fee when you leave.
  • The traditional declining balance agreement is simply the most affordable way to move to Lakeside at Waterman Village. It allows the absolute lowest upfront cost and flexibility for those who do not want their move to depend on the sale of a house. Over time, the refundable amount of your entrance fee will decline, so this agreement does not guarantee a refund to your estate, but its key benefits are affordability and flexibility.

Again, it’s important to note that any entrance fee (and refundable amount in the future) also depends on the specific residence size and style you choose, so keep that in mind when considering the contracts. Get more details on this by clicking here.

  1. Will I be able to customize my new home?

Yes! Once you’ve made your reservation deposit and completed the contract process, the fun really starts with not just choosing, but also customizing your new home. A range of both standard and upgraded finishes will be available for selections such as:

  • Countertops
  • Cabinets
  • Paint colors
  • Flooring

As construction progresses, customization options will become limited, so if you really want to make a splash with how you design your Lakeside residence, it’s best to get in touch now! For the full story on the customization options we offer, click here.

  1. What is the monthly service package, and what’s included in it?

When it comes to the actual experience of living at Lakeside at Waterman Village, which people will start to enjoy in early 2022, the monthly service package is a big part of it. The monthly service package is what enables the maintenance-free, amenity-rich lifestyle to be reveled in each day around shimmering Lake Margaret.

The monthly service package is covered by a monthly service fee (the cost of which also depends on your choice of residence and contract), and it covers all of the services, programming, amenities, events and restaurants that will make this retirement community in charming Mount Dora so desirable.

For example, the monthly service package includes all home maintenance, repair and upkeep, most utilities, services like trash removal and water, housekeeping, 24/7 security and a dining allowance that can be used at any of the restaurants at Lakeside at Waterman Village or the existing Waterman Village community.

Plus, the monthly service package includes access to all the amenities that will make this retirement lifestyle feel like a stay at a tropical resort—but it’s where you live! To see all the amenities and the life-enhancing benefits of our monthly service package, click here.

  1. Are pets welcome at Lakeside at Waterman Village?

For those who would be lost without the presence of a wagging tail or feline friend, we have good news. Lakeside at Waterman Village will be a pet-friendly community! In addition, the neighborhood will also include a dog park and plenty of safe, paved walking trails for daily strolls near and around the lake with Fido.

Our hometown of Mount Dora is also a notoriously pet-friendly small town, so you can explore its friendly streets with your pet. Just don’t forget the leash!

We hope that this article shines some light on what is sure to be a bright future for all who come to call Lakeside at Waterman Village home. We invite you to check out more commonly sought-after answers in-depth in our FAQ blog archive. There, you’ll find other helpful articles such as “Why choose Lakeside at Waterman Village over a 55+ community?” and more to be added regularly.

Again, with any questions you have, you can also rely on our friendly marketing team for help! Get in touch with the team by calling 352-385-1120 or clicking here. We look forward to hearing from you soon!

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