Finance and Affordability
Can I afford Brandon Oaks?
On average, our residents save about $1,000 each month when compared to their previous houses. Our monthly fee covers the bills and expenses you would have paid in your own house and much more (unless you had a professional chef prepare all your meals!)
Will I be renting my apartment home, or am I buying it?
You hold a lifetime lease on your apartment home. Brandon Oaks maintains it and upgrades it as needed. You enjoy the advantages of owning a home, but without the work, upkeep and hassles.
What kinds of fees do residents pay?
Like most not-for-profit communities, Brandon Oaks residents invest in a one-time entrance fee when they move in. The entrance fee is based on the type and size of the residence. An additional entry fee is charged for a second resident in the same home. Residents also pay a monthly fee that covers services, meals and maintenance. The monthly fee varies depending on the type and size of the home and number of occupants.
Is the entrance fee refundable?
Once you pay the entrance fee, you hold the exclusive right to occupy your residence and enjoy the amenities, common areas and services of Brandon Oaks.
Our traditional plan allows for departing residents to receive partial reimbursements. Reimbursements are available to those leaving Brandon Oaks — for any reason — within 50 months of moving in. You would be reimbursed the full entrance fee minus 2% for each month you live here. You would also have to pay a one-time charge equal to 4% of the entrance fee.
For those who want a return on their investment past 50 months, Brandon Oaks offers two Refundable Entrance Fee Plans — a 50% Refund and a 90% Refund. These plans have higher entrance fees, but they provide at least the indicated refund (50% or 90%) upon departure, regardless of length of stay.
Under the 50% Refundable Entrance Fee Plan, your reimbursement decreases by 2% each month for the first 25 months. After that, you will receive 50% of the entrance fee back if you leave. (You would still have to pay the 4% one-time charge.)
Under the 90% Refundable Entrance Fee Plan, your reimbursement goes down for only one month. If you leave any time after one month, you will receive 90% of the entrance fee back and pay the 4% one-time charge.
Will I have to add to my entrance fee if it increases?
Absolutely not. Once you make your one-time deposit, your home at Brandon Oaks is secure. If the entrance fee goes up, it won’t affect you because you locked in at the amount you paid.
Will my monthly fees ever increase?
Your monthly fees may adjust annually to reflect changes in the costs of food, labor and utilities. Adjustments are typically minor and are decided by the community’s Board of Directors. We will notify all residents 30 days in advance of any change, up or down. Changes, when they occur, generally occur only once a year. Remember we do not operate for profit, and work for the benefit of our residents.
What happens if I run out of money? Will you evict me?
Brandon Oaks is committed to the care and support of our residents, including those who run into unexpected financial hardship. We maintain an assistance fund for residents who qualify, and are happy to report that in our seventeen years, no one has ever been asked to leave because of finances. It’s our mission to care for all our residents regardless of their situation.
What are the Brandon Oaks homes like? Can I personalize them?
Your home is yours, so feel free to decorate as you wish. However, if you wish to make structural changes (like knocking down a wall or cutting a pass-through), Brandon Oaks must approve them. Residents bear the cost of any customization that is not a repair. Click here to explore our different residences.
What amenities does Brandon Oaks offer?
Brandon Oaks offers luxurious amenities and community spaces that cater to our residents’ needs and lifestyles. Click here for a complete description.
What sort of meals are served at Brandon Oaks?
Our independent living residents may enjoy up to three meals a day, with menus designed by our professional chef featuring the freshest, finest ingredients.
The Brandon Oaks Grille offers dining in an informal café-style atmosphere, with convenient hours, buffet service and take-out meals. Dine in our Main Dining Room and be served by our professional waitstaff for a truly fine experience. Residents may bring guests to meals as often as they wish (with reservations). Outdoor dining is also available, as are private dining rooms for special occasions and entertaining.
One meal each day is included in the monthly fee — which meal is up to the resident!
Who plans the activities?
We have a full-time Director of Activities who plans and coordinates a daily schedule of activities. Residents can also take part in planning and hosting events and activities.
Does Brandon Oaks allow pets?
Pets are welcome at Brandon Oaks, subject to management approval and our pet policies. We recognize pets as valuable and beloved companions that also benefit our health and well-being. Our health center offers a program of pet therapy for our residents, in addition to a lovely aviary where residents can relax and rejuvenate with our feathered residents.
What is LifeCare at Brandon Oaks?
Brandon Oaks’ LifeCare offers residents the finest in healthcare that’s there when you need it, for as long as you need it. Brandon Oaks residents know that assisted living or long-term nursing care is available to them with no increase in their monthly fees. The resident only pays for two additional daily meals during their stay. LifeCare means security for our residents — for life.
What are the tax advantages of LifeCare?
The IRS lets you deduct the portion of the entrance fee and the monthly fee that covers medical expenses. You claim the entrance fee deduction the year you pay the fee, and claim the monthly fee on an ongoing basis. Brandon Oaks provides a statement showing the deductible amount each year — this statement is available no later than January 31 of each year. You should always consult your accountant or tax advisor for the full tax implications of residency at Brandon Oaks.
What accommodations are there for emergency medical treatment?
Brandon Oaks is right down the street from Lewis Gale Hospital and a short drive to Carilion Roanoke Memorial Hospital. These facilities provide first-rate emergency medicine and specialized services.
The Roanoke Valley, being the “capital of the Blue Ridge,” has an unusually high concentration of hospital beds and medical services per resident. Carilion Roanoke Memorial Hospital is a certified level 1 trauma center, and Roanoke is also home to the new Virginia Tech Carilion School of Medicine.
Can a resident be admitted straight to health care, bypassing independent living?
Brandon Oaks accepts residents who need to be admitted directly to our Assisted Living or Skilled Nursing centers. However, there must be space available and the admission cannot compromise the needs of our current residents. Direct admissions are not eligible for LifeCare and would incur the current fees for health care at Brandon Oaks. In addition, all admissions should follow the standard procedure for applying for residency.
Is there a waiting list?
Brandon Oaks does have a waiting list. We would wonder what we were doing wrong if we didn’t! Being on our list guarantees you priority for the home of your choice, and also allows access to our facilities, meals, activities and admission to our health care center if you need it before you can move in.
(To meet the admissions requirements for LifeCare, you must be 62 years of age or older, ambulatory, in general good health and able to live independently without assistance. You must also be free of communicable diseases.)
What is the cost to get on the waiting list?
The waiting list fee is $1500 and is applicable to the entrance fee. However, paying the waiting list fee does not guarantee the entrance fee price.
Is Brandon Oaks “exclusive?”
Absolutely not. Brandon Oaks does not discriminate based on sex, race, religion, ethnicity or national origin.