FINANCIAL INFORMATION –
ElderSpirit Community, Abingdon, VA
At the present time the charge for a 2 BR rental is $500 a month; a 1 BR rental $373, and a smaller apartment is $335. Renters also pay their own utilities. Because our rentals were built with government funds, they are restricted to renters who meet government income guidelines. The maximum annual income at this time is as follows: 1 BR, 1 person, $17,750; 2 people $20,300. 2 BR 1 person $21,300, 2 people $24,360, 3 people $27,420, 4 people $30,420.
When a home is for sale, the seller sets the price. Most recently homes have sold for $140,000 to $170,000. Owners pay a monthly maintenance fee of $180 to ElderSpirit Development Corporation, and a fee of $10 per month to the Owners Association. Owners also pay real estate taxes which amount to about $700 a year for a 2 Bedroom home.
The sizes of the homes are as follows:
All two bedroom (both rentals and owners) are 960 sq. ft.
All one bedroom (both rentals and owners) are 760 sq. ft.
Apartments in the Common House are 590 sq. ft.
An enclosed deck at an owner's home adds 100 sq. ft.
Some have asked about the cost of utilities.
For a 1 bedroom home, electricity, water, and sewer would be about $120 a month. However there are many variables, depending on weather and use of equipment, etc.