In Canada, we are very fortunate to have access to many amazing retirement communities that offer residents the best that life has to offer. The cost of these communities varies and depends on a number of factors, including its size, location, accommodations, the type of community and the number of amenities.
According to Comfort Life, Ontario has the widest range of costs for retirement homes, including the most affordable and most expensive rates across the country. Retirement home costs average $3,038 per month in Ontario with many retirement homes covering a wide range of specialized needs and forms of care. In Mississauga, the average monthly rent is $3,150, according to a Comfort Life client survey in 2019, while Toronto is slightly more at $4,050 per month.
These monthly costs typically include three meals a day, utilities, on-site medical services and a registered nurse. However, for some communities with more amenities and services, you can expect to pay more.
If you are considering transitioning to a retirement community, it’s best to visit a number of residences to see firsthand what they offer in terms of accommodations, services, care options and amenities, and to learn more about the associated costs. Some even offer overnight stays for up to a week, which allows you to experience what life is like in a retirement community.
Better yet, consider speaking with an Accredited Senior Agent (ASA). We have the necessary specialized training and experience to help mature buyers and sellers with their unique real estate needs. With many connections within the senior housing market, we can also recommend the best retirement communities in Mississauga and the Greater Toronto Area (GTA) to suit your needs and desired lifestyle.
If you or someone you love is in need of a caring, compassionate and patient realtor, contact me, Deborah Clerk, Real Estate Sales Representative and Accredited Senior Agent (ASA) at Keller Williams Real Estate Associates, Brokerage, for more information.
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