Frequently Asked Questions
Answers to commonly asked questions about Villaggio at San Luis Obispo
1. What is Villaggio?
Villaggio is San Luis Obispo County’s only Life Plan Community. It’s a carefully designed residential neighborhood for active adults over 60 who treasure their independence yet want the peace of mind that comes with built-in access to a full array of long-term health services if ever needed.
Villaggio residents are relieved of the responsibilities of home ownership and freed from worries about the unpredictable and high cost of long-term care. Residents of Villaggio can focus on enjoying life to the fullest, with fewer worries about the future.
2. How does a Life Plan Community differ from a retirement community?
A Life Plan Community like Villaggio is focused on keeping residents able to live in their own homes as long as possible. A vital component of Villaggio is the services and amenities aimed at keeping residents fit and sharp – such as nutritious dining options, a fitness center, swimming pool, and shops, plus easy access to social and cultural events, on site and throughout greater San Luis Obispo.
As a Life Plan Community, sometimes called a Continuing Care Retirement Community (CCRC), Villaggio’s key comfort factor is that residents have access to Assisted Living, Skilled Nursing and Memory Care services – all on one site.
We like to say that Villaggio residents are buying a life plan, not a floor plan.
3. With all the amenities, particularly the on-site availability of long-term care, how is Villaggio affordable to people who aren’t flat-out rich?
Of the 650+ people who have already made a commitment to living at Villaggio, almost all are current SLO County residents. They come from all walks of life – teachers and nurses, doctors and lawyers, accountants and government workers.
They have made their needs clear: They want to live in a neighborhood that looks and feels similar to their current situation – where they can feel safe and comfortable, enjoy an active and independent lifestyle, yet have access to a range of long-term care if needed, all on one site.
We know exactly what Villaggio needs to provide: Housing choices and medical care in an environment that not only matches residents’ needs, but also their means.
This is exactly what Villaggio provides.
4. What does it cost to join Villaggio?
The cost for joining Villaggio depends on the size of the residential home you want, and whether you are an individual or a couple.
The two key financial costs are an initial one-time Entrance Fee and an ongoing Monthly Fee.
The Entrance Fee is due when you move in. Think of it as the cost of your residency and of your access to all of the amenities and services of the community, including Villaggio’s continuum of long-term care should you ever need it.
5. Will there be a variety of housing prices?
Yes. Villaggio will provide a range of housing options priced consistent with the SLO County real estate market.
6. Is the Entrance Fee Repayable?
At least 75% of the Entrance Fee will be repaid to you or your heirs no matter how long you live at Villaggio. More than 75% will be repaid under the following circumstances:
- 100% is refundable during the first 90 days of residency.
- 95% will be repaid upon resale from 91st day through the first year of residency.
- 90% will be repaid during the second year of residency.
- 85% will be repaid during the third year of residency
- 80% will be repaid during the fourth year of residency
- 75% will be repaid during the fifth year of residency and beyond.
7. What does the Monthly Fee include?
The Monthly Fee covers flexible dining dollars to be used at our multiple dinning venues, utilities, cable TV, Internet, weekly housekeeping including linen service, transportation, activities, maintenance inside and out, property taxes and lifetime access to the Health Center – and more.
8. How can I evaluate the affordability of the Monthly Fee?
We have prepared a handy worksheet to help you assess your current monthly living expenses so you can make an informed analysis.
Many residents discover that the extensive benefits and services included in the Monthly Fee – coupled with the convenience of having so many activities and services available within a short walk from their front door – compare favorably to their current monthly living expenses.
9. How is the Monthly Fee determined and will they increase if I need to utilize any of the long-term care services?
Your Monthly Fee will be based partly on the size of residence you choose. Monthly fees include total cost of residency, long-term care and consumables.
Aside from adjustments for inflation (reviewed annually), and a modest increase required by the State of California for meals if you reside in the Health Center, your fees will not increase based on needing Assisted Living, Memory Care, or Skilled Nursing services in the future.
10. How does the typical resident of a Life Plan Community finance these costs?
Life Plan Community residents often use the proceeds from the sale of their home to pay the one-time Entrance Fee. Some liquidate other assets, acknowledging that they put aside these savings precisely for this stage of their lives.
11. What are the requirements for admission to Villaggio?
To join Villaggio, at the time of entry, at least one resident in the home must be 60 years of age or older. All residents must pass a medical exam, be able to live independently and submit a personal financial statement.
12. What have residents of other Life Plan Communities experienced?
Many residents love the sense of community and the opportunity to focus on activities that enrich their lives, whether it’s making new friends, deepening relationships with longtime friends, or learning new skills.
Many say they wish they had moved in sooner. Few residents move out because they’re disappointed.
13. What if my spouse needs Memory Care and I am able to continue to live independently?
Your spouse will be accommodated in our health center’s memory care unit at no additional housing cost. You can elect to remain in your current home, or, if preferred, opt for a smaller unit.
14. How do I know it’s time to move to Villaggio?
You’re the best judge of your needs. It’s not easy to know precisely when you’re ready. But take some comfort knowing that many residents say their only regret about moving to a Life Plan Community is that they wish they had moved earlier.
Villaggio is all about making life simpler for you so that you can focus on what matters most to you. It’s unlikely that home maintenance gives you pleasure, nor do many people enjoy worrying about whether they might become a burden to their children or friends as they age.
At Villaggio, with access to a continuum of long-term care, home maintenance included, plus ready access to restaurants, outdoor activities as well as other social and cultural events, life is good.
“It’s better to be 5 years too early than 5 minutes too late.”