FAQ Part 1: Answers to Your Questions About Lakeside at Waterman Village
June 29, 2022
Now that Lakeside at Waterman Village is open, we are getting more questions from seniors who are curious about the community and excited to make the best plan they can to stay independent and active as long as possible throughout life. To help everyone learn more about the growing opportunities here, we thought we’d answer some of your frequently asked questions (FAQs) about Lakeside at Waterman Village. Our sales team is also available anytime to answer individual questions about Mount Dora’s newest waterside community.
Is Lakeside at Waterman Village a rental community?
No, Lakeside at Waterman Village is not a rental community. Like most communities across the country that offer multiple levels of living, Lakeside at Waterman Village requires a one-time entrance fee and a monthly service fee. These fees help cover the beautiful residences, fantastic amenities, delicious dining and other services available on campus. Most rental communities do not offer independent living, assisted living and skilled nursing facilities all on one campus, making it very inconvenient for residents and their family if higher levels of care are needed in the future.
How is Lakeside at Waterman Village similar to a Continuing Care Retirement Community (CCRC) or a Life Plan Community?
Moving to a Waterman Village community means you’ll have access to four types of living on one campus: independent living, assisted living, assisted living memory support and a nursing home. Although CCRCs and Life Plan Communities typically offer at least three levels of living, individuals at a CCRC or Life Plan Community typically pay higher monthly fees and receive less of their original entry fee back when they move out.
CCRCs and Life Plan Communities usually offer a reduced rate or discount for use of their on-site nursing home; however, most individuals only use these services for a limited time. Short-term stays in a nursing home are already covered by the residents’ Medicare and supplemental insurance plans. At Waterman Village, very few of our nursing home residents formerly resided in independent living. This means that for the majority of people, Lakeside at Waterman Village is a much better value in comparison to a CCRC.
Do I get a refund on my entrance fee? How does it work?
Like other communities with multiple types of living at one location, Lakeside at Waterman Village requires a one-time entrance fee. Residents who pay an entrance fee are sometimes eligible to receive a refund between 75 percent to 90 percent of the original amount, no matter how many years they live at Lakeside at Waterman Village.
Is parking available, and are there costs involved?
Every Lakeside resident receives a covered parking spot at no extra charge. Garden homes have a garage, lake houses have parking underneath the building, and lakeside grand apartments have a covered carport. Plus, Lakeside at Waterman Village will be installing charging stations for both golf carts and electric cars. Additional charging stations will be added as needed.
What makes Lakeside at Waterman Village so unique?
Waterman Village is one of the few full-service retirement communities in Florida, and it’s central Florida’s only multi-level living community that is not owned by a corporation or managed by an off-site company. We are truly a local, community-based, mission-driven organization. Decisions are made on-site by leaders who are close to residents and staff’s day-to-day happenings. According to Jeff Bassett, Waterman Village community information director, based on his 35 years of working in the senior living industry, residents and staff are much more satisfied in communities like Waterman Village than those who live or work at a community that’s corporate owned or managed by an off-site company.
Plus, Lakeside at Waterman Village is in the ideal location. Jeff Bassett explained that it’s important for a retirement community to be located near healthcare professionals, hospitals, emergency response providers, banking, shopping, recreational/cultural opportunities and more. According to Jeff, this helps residents be more engaged with the local community longer and feel less isolated, and it also makes it easier for family and friends to visit, which has many health benefits. Lakeside at Waterman Village is centrally located in Mount Dora, Florida, the number one small town to retire according to USA Today. With easy access to the downtown area for exciting festivals and nearby restaurants, you’ll have plenty to see and do at your new community.
Have more questions? Keep an eye on our blog for FAQ Part 2, where we will discuss things like available floor plans, storage and access to The Oaks community at Waterman Village. If you’re interested in becoming part of our exciting lakeside community and thriving with seniors like you, contact us at 352-385-1120. We only have a few available residences remaining, so make sure to schedule your tour today!