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Comparing costs: Retirement residences versus aging at home

Can I afford retirement living?

The truth is, there’s no “one size fits all” answer to this commonly asked question. Many people experience “sticker shock” when they first hear the cost of retirement living. For many, it’s hard to comprehend paying a monthly fee when you have worked so hard to become mortgage-free.

If you compare the cost of living at home with no support in place, retirement home living may appear expensive in comparison. However, the truth is, most people make the move to a retirement home when a change in circumstance has occurred such as a health concern or a desire for a more convenient, worry-free lifestyle.

If you look at the real cost of adding support to live at home alone, versus the cost and benefits of moving into a Seasons community where all of the costs are included, you’ll see that enjoying retirement home living isn’t as expensive as you may have thought.

Here are six factors to consider when making this important decision:

1. Balanced meal selections

At Seasons, all meals are prepared for you and snacks including juice, coffee, tea, baked goods, and fresh fruit are available from the bistro: Say goodbye to grocery store lines and cooking for one.

2. 24-hour emergency response

Our monthly fee includes 24-hour emergency response, which means you and your loved ones can have peace of mind knowing someone is always there if and when you need them. You should consider the cost of a similar life-saving subscription service should you choose to stay home.

3. Flexible care support

Whether you’re at home or in a retirement community, provincially-funded home care may be allocated to you. Will the amount of time you qualify for be adequate? If you had to supplement with private care, could you afford it? You may be surprised to learn how much private home care costs, especially when you compare it to the cost of care included at Seasons.

4. No more to-do-list

Owning your own home can come with an endless to-do list. What happens when you can no longer manage the tasks? How much would it cost to have someone clean your home weekly? Or take care of grounds maintenance such as landscaping and snow removal? All of these helpful services are included in your monthly fee at Seasons.

5. Avoid home renovations

If you stay at home, will you be able to maneuver the stairs or do you need to have a chair lift installed? Do you need a shower instead of a tub? Are the doorways wide enough for a mobility device? Seasons communities have been thoughtfully designed with elder mobility in mind. There’s no need for costly, messy, and time-consuming renovations.

6. Greater peace of mind

You can’t put a price tag on the help your children, neighbours, and loved ones offer, but what if they suddenly weren’t available? Or you began to feel like a bother? Many residents and families find peace of mind in knowing a whole team of dedicated, caring staff are available 24-7 and happy to help. At Seasons, time spent with loved ones means simply enjoying each other’s company.

Get in touch

For more information, we would encourage you to speak with the Seasons Leasing Manager at your desired location or complete our contact form to arrange a virtual or in-person visit. You can rest assured that all visits will be scheduled following COVID-19 safety measures. For the most up-to-date protocols, see our Company tab.