So you have decided to relocate. Now the big decision is to where?
There are 4 primary types of Retirement Living options that most of us will want to consider.
Independent Living: Aging at Home
Living in your own home and hiring help as required for tasks such as housekeeping, meals, and property maintenance is the most desirable type of post-retirement living arrangement if health permits. This is the preferred option for the majority of Canadians.
Independent Living: Retirement Home Community
You are living in an apartment within a retirement facility or community. There are typically some support services such as housecleaning to an on-call nurse that are included in the overall package. Typically, you have a full kitchen and dining area.
Assisted Living: Retirement Home Community
Living in a smaller apartment, often a one-bedroom or studio-size space without a full kitchen. The ability to have increased support services such as meals provided, medications monitored, housecleaning, and other services are included in the fees.
Retirement Home communities can be owned by for-profit companies or they can be owned and operated by the government or not-for-profit organizations.
Long Term Care or Nursing Homes
Individuals being relocated to a nursing home require a high level of personal or medical 24/7 care. Having a full assessment completed is often required to be able to be placed within one of these facilities. The costs in these facilities are more fixed and regulated.
Costs
There is a wide range in the type of housing available. To compare ensure you have an accurate list of the levels of services that are included.
Tips:
- Get to know what home support services are available in your community
- With a seniors’ residence, ask what services are included in the monthly cost and what services, if any, you can purchase at an additional cost.
- Consider the location and how easy it will be to get to community facilities such as churches
- Enquire about the availability of transportation for shopping or appointments
- Ask if there are limits on annual rent increases.
