Many people find understanding the costs associated with assisted living confusing and frustrating. As a Senior Real Estate Specialist, I have experience and a network to help older adults and their families plan for this transition.
I often get asked what the “average cost” is, but there isn’t an average cost because each property can differ in location and level of care being offered, so the comparison isn’t apples to apples. In this blog, we will dive into what you need to know to make informed decisions that best suit your loved one’s needs.
Should I Move My Parents to Assisted Living?
As our loved ones age, their needs and requirements change. Assisted living is a care option available in retirement residences that provide as much care and support as required based on individual needs.
In many cases, people who require assisted living still live independently, but they also get the support needed for aspects of their lives where it’s necessary. Some common areas where older adults want support are meals, housekeeping, and social.
Helping a loved one sell their home? Explore these related blogs for more helpful advice.
- How Long Does Probate Take in Ontario?
- When Can You Sell A Parents’ Home After They’ve Passed Away?
- Preventing Family Conflict When Selling Your Parent’s Home
What Are the Benefits of Assisted Living?
Assisted living offers comfort and security to the residents as typically, there are staff on site 24/7. Also, if a resident needs support taking medicine, staff can assist with this. Something else that I see when touring assisted living residences is social calendars. Clients are often offered the opportunity to participate and enjoy the community before deciding to move in.
My clients and their families feel better knowing they’re in a secure and healthy environment. People often underestimate the value of the mental health component. Many of my clients are transitioning from a house where they have lived for 40 years, and the thought of moving is scary and overwhelming.
Often the goal is a supportive environment that allows seniors to live safely and comfortably without giving up their independence.
What Are the Costs of Assisted Living?
The cost of assisted living can vary significantly based on several factors, including location, the level of care required, and the amenities offered. In most cases, a second occupant is charged a premium.
In Toronto, the range for assisted living has a base price of $5,000 per month up to $17,000 per month. I see the second occupant premium range from $1,000 to approximately $1,300 per month.
In some of the suburbs surrounding Toronto, you can find assisted living residences from $3,000 per month to $5,500 per month. The figures I’m including here are for privately owned homes.
There are provincially operated facilities that will be less expensive, but depending on the circumstances, there could be a long waiting list.
Most assisted living residences offer all-inclusive living, but some services will cost extra. Here’s what’s commonly included in assisted living costs:
- Meals and snacks
- Medical Alert Systems
- Utilities
- Laundry service for bedding and linens
- Weekly housekeeping
- Daily recreation, with transportation for special events
- Emergency pendant
- Security/concierge 24 hours a day, 7 days a week
Notable: many include nursing services, like once-a-day wellness checks, bathing assistance once a week, 30 minutes of personal care a day, and medication management. This is where I see the difference in fee structure.
Budgeting For Assisted Living
Understand the fee structure: Some facilities charge a flat fee, while others offer a la carte fee. Ask for a complete cost outline.
Downsize Strategically: Selling a family home can provide a financial boost to support ongoing assisted living expenses.
Explore Financial Assistance Programs: You pay for the entire accommodation cost in private homes. However, if you have the support of a PSW through a publicly funded program,
you can generally continue bringing that support worker with you to an assisted living residence.
Plan for Future Needs: Consider homes that offer graduated care services so that your loved one doesn’t need to move if their level of care requirements change.
Looking to downsize from your current home? Explore these related blogs for more advice.
- What Seniors Need to Know About Downsizing for Retirement
- Should I Buy a Home or Sell First as a Downsizer?
- 5 Signs It’s Finally Time To Downsize
Choosing the Right Community
Choosing the right assisted living community is more than just comparing costs-it’s about finding the right fit for your loved one’s lifestyle, comfort, and needs. Make sure you take the time to tour the facilities, speak with staff, and ask detailed questions about what’s included in the monthly fee. Here are some factors for choosing assisted living:
Services Offered: Be sure to find out what services the residence offers included in its fee. Different levels of care are usually available, and each has its own fee structure. Know what level of care your loved one requires.
Accessibility: Do they have access to equipment that will keep you or your loved ones safe? Is the property well-maintained, accessible, and secure? What types of amenities do they offer?
Food Concerns: This can be vital to your loved ones’ health and happiness. Are meals at a fixed time, or is there flexibility? Is the seating arranged, or is it first come, first serve? Don’t underestimate the social anxiety your loved one may feel as a new person not knowing anyone in a new environment. Will residents have a meal selection, and will the meals be healthy? What happens if your loved one has dietary restrictions or is a picky eater?
Medical Support: Are residents equipped with medical alert systems in case of an emergency, and are there medically trained nurses and support staff on-site to handle these emergencies? Is there a good hospital nearby, and are staff there to remind or assist residents about taking medications?
Caring Staff: Is the staff warm and friendly? Are they professionally trained in the services they offer? I like knowing the staff turnover rate. Continuity is a sign of a great environment. Also, does the staff address the residents by name?
That level of personal interaction goes a long way. Knowing the residents on a first-name basis shows that the staff takes the time to get to know everyone. It contributes to the sense of community.
Policies: Are the assisted living residence policies aligned with your loved one’s lifestyle and health? What are the policies around visitors, and can they have overnight guests? What if they still like to cook or bake occasionally?
Is there a safe area for them to do this? Is the residence pet-friendly? If so, are there restrictions? Most people with a pet aren’t willing to choose a pet over where they live.
If you have questions about transitioning to assisted living or downsizing for your next chapter, let’s talk. Give me a call at 647.283.2127 or email stuart@stuartnodell.com to get in touch.
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