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We are pleased to be New Hampshire’s first Cooperative and because we are the first we feel it’s important to explain the advantages a Cooperative offers our residents over retirement communities that are not Cooperatives. Sugar Hill Retirement Community is unique to New Hampshire because of its financial structuring. Some communities require a large investment be made up front and then a portion of that money is lost each year the resident remains, until the initial sum of money is exhausted. Sugar Hill Retirement Community is a Cooperative selling shares of stock. As with the purchase of any share of stock this purchase is an investment and has the potential to increase in value over time. Historically, retirement communities in other states that are similar to Sugar Hill Retirement Community have done just that. You retain control of your investment now and in the future. You have the potential, should you decide to sell your share of stock, of recouping 92% of your investment and possibly more, if the value of the community appreciates. The Management Company retains 8% of the selling price to cover refurbishing and handling costs. As a shareholder in the Sugar Hill Retirement Community Association you will receive an accounting of your portion of the property taxes, which you may then use as an IRS deduction. Unlike other facilities, the residents have genuine in-put into the community’s future because residents are shareholders and are involved in the decision making process which will determine how the community evolves. There are five resident members on the Sugar Hill Retirement Community Board of Directors. All residents receive both routine and major maintenance both inside and outside their apartments or cottages as long as the maintenance is not the result of abuse. Inside maintenance is what sets a Cooperative apart from a condominium. The Cooperative is registered as a “for profit” organization, in order to permit residents to benefit from any profit related to an increase in the value of their stock. However, Huggins Senior Housing, the Management Company, is committed to managing the complex as a non-profit, again passing on savings to individual shareholders. There are many exciting reasons to choose New Hampshire’s first Cooperative over other types of retirement communities including those mentioned above. You will also want to consider our location, in The Oldest Summer Resort In America, our views, superior construction, and our genuine concern and interest in helping our residents enjoy a retirement lifestyle that encourages them to be active, happy participants in retirement the way they dreamed it would be.
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Sugar Hill Retirement Community
83 Rolling Wood Drive Wolfeboro, New
Hampshire 603.569.8485 Website designed by Excelsior Graphics © Copyright Sugar Hill Retirement Community, Wolfeboro, NH. All rights reserved. |
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