Seabrook Financial Information

The Seabrook has three (3) financial components: one-time Membership Fee, the one-time Real Estate Expense and the Resident’s Monthly Fee. Like all independent retirement communities, prospective residents need to meet certain financial guidelines as it relates to annual income and overall liquid assets to qualify for Membership.

The Seabrook offers an exceptional real estate value. Compare our overall costs to the local competition and you'll see a significant difference. The Seabrook is the only Hilton Head CCRC that offers the Entry Fee Contract as well as an annual rental in a Studio apartment. No other retirement community provides as many choices as The Seabrook.

The Seabrook has three residential options: Equity Purchase, Entry Fee Contract or Studio Rental – all in a beautiful garden-like setting just minutes from Hilton Head’s famous beaches.

Becoming a Member of The Seabrook

In becoming a Member of The Seabrook, interested parties will need to submit a financial statement which includes monthly/annual income and overall liquid assets. In some cases, prospective Members are approved “subject to selling their home”, in that the Seabrook does not recognize "home equity" as a liquid asset. Financial Guidelines have been established for Membership and are available upon request.

A Medical Evaluation application will need to be completed by your family physician, which acknowledges you (and spouse) are healthy enough to live independently*. (*Prospective residents who can live independently “with some care” can be approved as well.)

Once both applications have been approved, a meeting is arranged with the Executive Director, Rob Lee, who will help answer any outstanding questions and verify your ability to live independently.

Membership in The Seabrook is open to persons who are at least fifty-five (55) years of age. In the case of couples, at least one must be fifty-five (55).

There is a one-time non-refundable Membership Fee - $17,500 (single) and $20,000 (couple) that is paid prior to taking occupancy. This Membership Fee is the new resident’s contribution to the Seabrook’s capital reserve fund which provides the financial resources to maintain the "Seabrook House," the Seabrook Clubhouse facility.

Resident Options

Option #1 – Equity Purchase

Buying a condominium at The Seabrook is no different than purchasing any other real estate. Units are listed for sale and prospective new Members make an offer to buy, negotiate the price / terms and take ownership (deed/title) after a cash closing. Purchasers can make improvements and modifications to their property if desired. Owner is responsible for the Resident’s Monthly Fee which commences at closing.

Key Points:

  1. Potential for Appreciation
  2. Great Values Offered
  3. Responsible for Repairs and Replacements
  4. Obligation to Pay Monthly Fee until Property is Sold

Pricing:

  • 1 Bedroom / 700 sq.ft. – From the $50’s
  • 2 Bedroom / 1167 sq.ft. – From the low $100’s
  • 2 Bedroom (Large) / 1400 sq.ft. – From $150,000
  • Erskine 2 Bedroom W/ Den / 1453 sq.ft – From $200,000

Inventory changes consistently, so please call for a current price list.

Option #2 – Entry Fee Contract

The Entry Fee Contract is where a new resident enters into an agreement with the Seabrook, which is enforced until such time the resident no longer wishes to live in the condominium or cannot for health reasons, etc. The new resident makes a one-time Entry Fee payment upfront and has no additional real estate expenses attributed to the condominium. Resident is responsible for the Resident’s Monthly Fee which commences upon “move-in”.

Key Points:

  1. Condominium Completely Renovated – Kitchen, Bathrooms, Flooring, etc.
  2. Upon leaving, 50% of Entry Fee Payment is refunded to Resident
  3. Not responsible for Repairs / Replacements / Property Taxes / Closing Costs
  4. No Obligation to Pay Monthly Fee once contract is Terminated
  5. Monthly Fee $175-$300 Higher than Equity Purchase; includes 2 House-cleanings/Month

Pricing:

  • 1 Bedroom / 700 sq.ft. – From $55,000
  • 2 Bedroom / 1167 sq.ft. – From $90,000
  • 2 Bedroom (Large) / 1400 sq.ft. – From $135,000

Inventory changes consistently, so please call for a current price list.