Canada 16 May 2022

A Guide to Senior Rentals: How to Find Options for Active or Independent Housing

Are you a senior looking a retirement home? Are you looking for active or independent residences in your area? You can read through our guide about your options.

Senior Living Residence Options in Canada

A senior living residence is a retirement facility created to cater for older individuals. Residences like this offer accommodation and activities that are suitable for seniors who wish to live among people within the same age group. Typically, only individuals who are at least 55 years old are eligible for residency, but this may vary.

A senior living residence, also known as a retirement home, often comes with features and activities (indoor and outdoor)that engage and entertain their residents in many ways. In addition, these facilities usually permit residents to have a younger individual (a lover, spouse or significant other) live with them.

A 2013 study shows that Canada has one of the highest average life expectancies for men and women. It is also expected that the already aging population will quadruple by 2051, with more Canadians living past 80. Due to this, the number of senior living residence options has grown exponentially.

With so many options around, the search for a perfect retirement home can be quite overwhelming. This article will provide information that will help you make informed decisions in your search.

Most Suitable Housing Options for Seniors in Canada

As you age, your housing needs and need for nursing care will change. For instance, you may need assistance doing mundane house chores. Basic day-to-day operations will seem more tasking and it’s natural to seek help.

There are many senior living options available to you. You can either receive assistance while staying in your own home, or you may live in a retirement community where you will be cared for. Your choice will depend on your needs at the time.

Choosing to move to senior living will typically leave you two options

  • Active housing for seniors
  • Independent housing for seniors

Basically, these two options are similar in the sense that you don’t receive full time care, but there are some differences.

1. Active Housing for Seniors

Active housing can be divided into : - active living options - Active retirement communities

Active living provides independent living situations for active and healthy seniors. They are basically like regular neighborhoods but with age limitations (typically 55+). They also come with features like home keeping, gyms, security and social activities.

Active retirement communities are a bit bigger. These are communities where seniors with similar interests coexist. Each individual has as much privacy and independence as needed in their own home or apartment. In this instance, you will be engaged in different programs, join clubs, go on yours, and take part in different activities with like-minded seniors.

2. Independent Housing for Seniors

Like active housing, independent living offers residents the opportunity to engage in different activities and programs in a community of people their age with similar interests. This option presents an opportunity to stay active as you age, while eliminating the need to worry about caring for your own home.

The cost for active and independent housing will differ depending on the area you live in and the features available to residents. The average cost for independent housing in different cities, as shown by a 2019 survey, is seen below

  • Toronto –$4,050
  • North Vancouver –$3,868
  • Vancouver –$3,565
  • London –$3,367
  • Kelowna Area –$3,153
  • Mississauga –$3,150
  • Calgary –$2,953
  • Ottawa –$2,865

On average, it will cost you $3,347 per month to get an independent apartment for seniors in the major cities of Canada. Exclusive Apartments and Rentals for Seniors

Apartments for seniors are mainly for individuals over 55 who are capable of living independently. Many apartments available today offer comfort and luxury for older individuals. In senior rentals and apartments, you pay a monthly fee that takes care of all your needs.

Generally, monthly fees can range from $1,900 to $5,000 depending on location, size, features available and utilities. The fee will typically cover basic health care, housekeeping, food, light and room.

The difference in price also depends largely on location. Different cities have different senior apartment prices on average. Some of the best examples include

  1. The Briton House (est. 1976) - Located in Mount Pleasant and Eglinton, Toronto - 400 resident capacity - Independent living, assisted living, dementia and memory care, among others. - Costs from $2,795

  2. Forestview Retirement Residence - Located in Finch Avenue, Toronto, Ontario - 127 resident capacity - Independent living, assisted living, respite care, etc - Costs from $3,224

  3. Granville Gardens - Located in West 49th Avenue, Vancouver, British Columbia - 72 resident capacity - Independent living, assisted living, guest stays available - Costs from $3,888

Things to consider before choosing a senior apartment

When choosing a place to live upon retirement, there are certain important things to look out for

  • The services and utilities should be suited to your needs and demands.
  • Location matters. Consider proximity to family members, and the surrounding sites. Go for something that meets your desires.
  • Health care service is key. Do proper research so you can make an informed choice.

Low-cost Housing Options for Seniors 55+

Making crucial life changes is never an easy task, and this is the case with retirement also. It may seem like planning your retirement will not demand much but this isn’t necessarily true. If you want to have a smooth transition you will have to pay attention to important details.

There are different options for seniors over the age of 55 to consider when planning for retirement and some of them include

Government Subsidized Housing

Supportive Housing— Supportive housing tenants pay a fixed portion of their annual income to receive assistance from staff whenever they need. This type of living is usually subsidized by the government.

Long-term Care Homes— this type provides intensive care over a long period of time. This is a heavier form of assisted living.

Adult Day programs

Home Care

Respite care

Low Income Housing

Low income housing is an option that comes with features such as government rental assistance, income based housing, senior living centers and senior rentals, among others. These options are suitable for seniors 55+

Low Cost Senior Living

If you wish to cut costs during your retirement years, there are certain options you may have to consider.

Staying at home– this option is perfect if you are an independent senior. The provincial and federal governments have several assistance programs you can benefit from if you fall under a low income senior.

Assisted living– if you are not independent or active, getting assistance such as supportive housing may be the best option for you. This option is usually government subsidized. On average, this option will cost you $1,500 to $5,000 monthly, depending on how much assistance you need.

Long term care homes– seniors with dementia or Alzheimer’s require intensive care. For low-income earners, the provincial government provides funds to cater for healthcare. Generally, options that involve demanding health care needs cost more, about $3,000 to $7,000 monthly.

Final Words

Planning your retirement can be pretty overwhelming. Studying different available options and discovering what will work best for you is a crucial part of your plan. As you get closer to retirement age, paying attention to crucial details will help you get the best out of your retirement.