What you need to know to find the best retirement home
To find the best retirement home for yourself or your parents you need to know what questions to ask. That sounds simple but it isn't easy when you've never moved to a retirement community before.
Check out this video for advice from experts at retirement homes including Diversicare Retirement Homes, The Lord Dufferin Centre, Signature Living and the Ontario Retirement Communities Assocation (ORCA).
They'll give you insight on issues such as:
- financing your stay
- the importance of the 'vibe' at a retirement community
- aging-in-place vs. moving as your care needs increase
Your main considerations
You will also want to consider factors such as location, type of accommodation, your interests, your health and your finances.
Start thinking about moving to a retirement residence by asking yourself the folllowing questions. You'll soon discover your wish list and your individual requirements.
Location:
- where would you or your mom or dad like to live?
- Would you prefer to own, rent or have a life lease?
Type of accommodation
- Would you prefer an apartment, a townhouse, a suite within a condominium?
- What community have your friends retired to?
Interests
- What are your hobbies and favourite activities?
- Do you want to be actively involved in the wider community as well?
Health
- How healthy are you and what illnesses if any, do you have?
- What medications do you take?
- Where do your current doctors practice?
- Could your doctor treat you at the retirement community or would you have to go to his or her office?
Finances
- How much money and what investments do you have?
- How much money can you afford to spend per month now and in the future if your care needs increase?
- How much will your preferred type of residence cost now and how much will it cost in the future if you need more care?
- Do you have insurance to cover any of your costs or can any of your costs be subsidized?
Your big picture:
Now you know the location and type of accommodations and the services and activities you want. You also know how much this will probably cost and how much you have to spend. It's time to visit some communities!
More resources for your retirement home search:
For a comprehensive list of questions to ask at each residence you visit, download: The Ultimate Retirement Tour Checklist.
And don't forget to download the Retirement Living Locator App for your smartphone so you can find homes easily when you're on the road!****
Related articles:
Five retirement savings tricks
Is retirement home living a positive thing?
Can't afford to move to a retirement community? Here's help
Independent Living retirement homes
Discussing a home with your parents
Considering a move to a retirement community? Share your questions and tips in the comments section below!
