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Understanding the Cost
Predictable fees for unpredictable needs. We're here to help.
While on the search for your picturesque senior living destination, you’ve probably heard about all the different community models available to choose from. Sterling Park at The Osborn is an entrance fee community. We are not a rental community.
Figuring out the differences between community models can be confusing, but you deserve to understand what you’re paying for, when you’re paying for it, and why you’re paying for it so you can make an educated decision about your future.
That’s why, here, we’ve broken down our entrance fee pricing model in plain, straightforward language for you to review – everything from the entrance fee, to monthly costs, tax advantages, and all the in-between. We hope you’ll find it helpful.
If you have additional questions about our pricing model after reading this page, please contact us via phone or email. Our Sales Counselors will guide you and provide any specific answers and details they can regarding your situation.
What is included in the entrance fee?
The entrance fee is a one-time, 100% refundable fee you pay when you move into The Osborn that offers you (and your partner, if applicable) a secure future backed by multiple levels of on-campus care here in our community.
The price of the entrance fee you pay depends upon the size and type of residence you select. As a Sterling Park resident, you will have lifetime availability and priority access to everything that is available at our community. Your entrance fee also covers the cost of yearly maintenance and upkeep for the community and allows us to grow our already-long list of amenities and services that we provide here.
With a 100% refundable entrance fee, residents can rest easy knowing that all of their entrance fee is refundable to them, their children, or their estate in the future.
At The Osborn, entrance fees start at $638,311.
What is included in the Monthly Fee?
The monthly fee is a predictable, ongoing monthly payment that, for most residents, is equal to or less than the monthly costs you paid while living in your former home. This fee covers day-to-day costs for things like campus amenities, weekly housekeeping, linen service, most utilities, weekly transportation program, campus upkeep, 24-hour security, daily activities, a food plan that includes approximately 30 meals a month and more.
As a resident of Sterling Park at The Osborn, you also avoid the burden of home ownership and all the negative aspects that come with it: property taxes, home maintenance, yardwork, the fluctuating prices you find at the bottom of your utility bills – even a new lightbulb or doorknob. It’s all covered under the price of this monthly fee.
Although there is a monthly fee, The Osborn is not a rental community. At The Osborn, monthly fees for Sterling Park entrance fee apartments and garden homes start at $5,467.
Let us help!
If you find yourself with additional questions about our pricing model after reading this page, please contact us at (914) 925-8243 or fill out our form below.
Frequently Asked Questions
The entrance fee is a one-time, 100% refundable fee you pay when you move into The Osborn that guarantees you (and your partner, if applicable) a secure future backed by multiple levels of on-campus care here in our community.
The price of the entrance fee you pay is dependent upon the size and type of residence you select upon move in. The entrance fee gives residents lifetime availability and priority access to everything that is available at our community. It also covers the cost of yearly maintenance and upkeep for the community and allows us to grow our already-long list of amenities and services that we provide here.
Most residents fund the cost of the entrance fee using the proceeds from the sale of their current home. With a 100% refundable entrance fee, residents can rest easy knowing that all of their entrance fee is refundable to them, their children or their estate in the future.
The monthly fee is a predictable, ongoing monthly payment that, for most residents, is equal to or lesser than the monthly costs you paid while living in your former home. This fee is meant to cover the day-to-day costs required to run The Osborn – things like campus amenities, upkeep, 24-hour security, daily services, and more.
As a resident at The Osborn, you also avoid the burden of home ownership and all the negative aspects that come with it. Property taxes, home maintenance, yardwork, the fluctuating prices you find at the bottom of your utility bills – even a new lightbulb or doorknob. It’s all covered under the price of this monthly fee.
Although tax laws tend to evolve from time to time, most legal precedents tend to be favorable for residents of senior living communities, allowing them to deduct a portion of their community fees during tax season. These tax laws vary from state to state and can be interpreted in different ways as a result, so we recommend discussing the details with your tax advisor to help you determine the right course of action for you and your family.
Your long-term care policy will work hand-in-hand with The Osborn. In instances where residents are part of the health-related sectors of care such as Assisted Living, Memory Care, Skilled Nursing and Home Care, they can even be paid the earned benefits as the policyholder. Long Term Care Insurance does not typically cover Independent Living costs.
If you are unsure about the details of your specific policy, it’s best to speak with a staff member at your insurance provider’s office to make sure you have a good understanding of your policy and, in turn, the benefits you might be eligible for if you make the move to The Osborn.