6 Myths About Senior Living Costs
With modern senior lifestyles residences in Canada’s finest neighbourhoods and a personalized approach to meeting residents’ unique and changing needs, Amica is challenging dated perceptions about senior living. Here’s how to sort through the realities and myths around the costs.
Myth #1: If a residence doesn’t publish costs, it must be hiding something.
“How much does it cost?” The truth is there’s no single, across-the-board answer to that popular question. The fee generally depends on three factors:
- Where do you wish to live? All Amica residences are located in desirable neighbourhoods close to services and shops, although a one-bedroom suite at Amica London will be priced differently at Amica Balmoral Club, near Toronto’s Forest Hill Village.
- What size suite would you like? Like all prime real estate, costs rise with square footage: a studio costs less than a two-bedroom.
- Which lifestyle suits your care needs? Amica offers Independent Living, Assisted Living or Memory Care, which provide personalized care based on every resident’s preferences. Higher care needs are reflected in pricing for Assisted Living and Memory Care.
Myth #2: Once I move in, I’ll have to pay for extras
Actually, Amica is about giving seniors the freedom to enjoy life, so we’ve simplified the financials. The monthly fee at Amica includes:
- Rental fees
- Property taxes
- Hydro, heat, water, sewage, garbage collection
- Daily meals, snacks, coffee and tea
- Housekeeping, flat linen laundry
- Gardening, lawn care, snow removal
- Home security monitoring
- Scheduled transportation
- Home repairs and maintenance
- Fitness centre membership
- Entertainment, recreation, social events
- 24-hour emergency response
Myth #3: I’ll be paying for services I don’t need
Amica residence only pay for services they use. If your health changes, you can request temporary care (to recover from an operation, for example) or customize care services to suit your needs.
Myth #4: I’ll be wasting money on something I may not like
Consider booking a trial stay to see if you like senior living. A stay includes a furnished private suite, concierge/security, daily meals, housekeeping, amenities, entertainment, and activities.
Myth #5: It makes no sense to rent
It may be hard to imagine how renting could possibly top living in a beloved house. Yet thousands of residents feel they’re getting good value and a wonderful quality of life at Amica. Without the hassle of cooking and chores, residents are free to pursue their passions and interests with like-minded people at activities and amenities designed to enrich the mind, body and spirit. With in-house staff specializing in culinary, health, recreation, maintenance and security, you’ll feel supported by an expert team.
Myth #6: The cost is too high for my budget
Visit the Tools & Resources tab at Amica.ca to download our complimentary planning worksheet to see how your expenses compare. You can also find other information on senior living planning, like our downsizing guide, tips for moving, and even what to ask on a residence tour to ensure you’re getting the information you need to make the best decision.
To learn more about Amica Senior Lifestyles, visit Amica.ca.