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Old 11-23-2013, 01:07 PM
 
Location: Durham, NC
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Is anyone familiar with this community? I know what it is, I'm just trying to research a little deeper than what I get off of their website and brochures.
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Old 11-23-2013, 01:52 PM
 
Location: Raleigh, NC
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What would you like to know?

Vicki
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Old 11-24-2013, 12:39 PM
 
Location: North Carolina
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I really can't tell you much about them other than I am the DJ for their holiday party for the last 5 years now and there is very little turnover with their staff, so that's always a good thing! Seems like they treat their employees well, which would indicate to me that the employees take care over the job they do.
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Old 11-25-2013, 12:48 AM
 
Location: Sneads Ferry, NC
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Was the OP asking whether anyone had a relative living in the Cypress?
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Old 11-25-2013, 08:54 PM
 
Location: Durham, NC
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I'm asking at a general level, for now, for my parents. I noticed that the properties are not rentals, that they have to be purchased by the residents (or a trust or some other entity). I'm curious as to what kind of price range these would be in. Are they meant to be for the wealthy or very well-off, or are they more for the average retired couple on a fixed income?
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Old 11-25-2013, 09:25 PM
 
Location: Raleigh, NC
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One of the agents in my office was talking about a wait list to get one of the cottages. She said they were going for about $800,000. And, the monthly fees were $4900 per month.

I think they have one or two buildings left to build but they are already filling up and plan to be finished in the next 2 to 3 years.

I've heard that the people that live there love it! Part of the $4900 per month includes a dining room with a chef. I've heard the food is wonderful. You also get weekly maid service.

Vicki
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Old 11-26-2013, 05:16 AM
 
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Here is a short overview. They have 1 & 2 bedroom villas (like an apartment or condo) and cottages (like a single family home). The only thing that is available at this time would be resales as they come up. There are plans for an additional building to be built and you can be put on a waiting list for that. Prices for current villas (as they come up) would probably start in the $400's, with an average price of around $600K. The villas would probably go over $800K. You can go to the Wake County Property records are see the most recent sales along with the square footage. Just look up property on Cypress Lakes Drive. The monthly fees will vary depending on the unit/square footage you have. A starting level would be around $4K/month for a couple (ballpark) and would go up from there with the highest monthly fees associated with the cottages. The monthly fee covers most of your costs, including a food allowance, utilities, maintenance and weekly maid service. You would still have to cover property taxes and insurance. The service and facilities are top notch. There are plenty of activities and you can choose to be very active while living there, or you can keep to yourself if you are not as social.

To your question, you can see that you would have to some solid financial means to live there. As to being wealthy, it depends on your definition of wealthy. In short, you need to be able to cover the purchase price and afford the monthly fees. Further, you need to be able to keep up with inflation, so figure that the monthly fees will rise accordingly as costs do go up.

If you can afford it, your parents will be well cared for.
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Old 11-26-2013, 09:19 AM
 
Location: Durham, NC
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Thanks. My questions have been answered. 4K a month would be way beyond their means.
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