Retirement Costs British Columbia

Budget your Retirement in British Columbia

How much does it cost to retire in British Columbia? The answer will depend on the type of retirement community or home care service you choose and the level of care you need. Once you have determined these factors, start researching the associated costs and find a home care service or retirement community that works with your budget.

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Closer look at BC senior care costs

According to the CMHC’s Senior Housing Report, in 2018, the average cost of renting an independent living seniors’ housing space in British Columbia was $2,250 per month, one of the lowest averages in the country. The province had the highest average cost for "heavy care spaces" in all of Canada, with average cost being $6,011. Amenities are included quite often in the monthly rent, such as the cost of meals, utilities, and on-site medical services and a registered nurse.

Looking for budgeting and financial tips? Read Easing Your Financial Stress

Ages and stages of retirement

BC's 55 plus communities come in a wide variety of styles, including gated communities to ocean-front spots to secluded resort-like bungalow developments nestled deep in the interior. Costs range from $300,000 to more than $1 million for an investment in this carefree lifestyle.

British Columbia retirement residences, as surveyed below, range in cost between $1,500 and $6,000. If you choose to try and stay in your own home, home care costs in BC average between $15 and $75 an hour, depending on the type and level of care required.

The following tables provide a more detailed look at some costs based on care required. This is only an overview, and you will need to consult with individual BC retirement homes to find out what care and services are included, how their rates vary, and what your final costs will be for the suite and care type that you require.

When considering the cost of moving into a retirement home, remind yourself that all monthly costs are covered under one umbrella, including housing, maintenance, food and more.

Independent living seniors' care costs in BC

The following list surveys what retirement homes cost in a variety of locations in BC.

City	Suite	Sq footage	Cost/mo (starting)
Duncan	1 br	617 sq ft	$2,775
Kelowna	studio	350 sq ft	$2,690
New Westminster	studio	416 sq ft	3,160
Surrey	Studio	400 sq ft	$1,954
	1 br	539 sq ft	$2,475
Victoria	1 br	555 sq ft	$3,500
	2 br	669 sq ft	$4,760
Vancouver	Studio	380 sq ft	$3,700
	2 br +	964 sq ft	$8,370

Assisted living costs

The minimum monthly rate you will pay for assisted living care in BC is $921.40 per month, as determined by the provincial government. For couples, the minimum monthly rate for living together is $1,485. However, the monthly client rate is based on the income of both you and your spouse, and this is subject to a minimum and maximum monthly rate. For families who can afford more, though, private care offers a variety of features and amenities you will not find in many other homes.

On a separate page, we take a fuller, more detailed look at assisted living costs in BC.

Listings below give specific rates:

Click here to refine this list

Wisteria Place

4388 Garry Street, Richmond, British Columbia, V7E 2V2

Wisteria Place, beckons to active seniors seeking vibrant and satisfying daily life. Majestic views, park greenery, a Zen garden and Koi pond, bring nature, beauty, and peace. Let us welcome you home to life in harmony.

Type of stay	Daily - Monthly Rates
Long-stay basic	$54 – $1620
Long-stay semi-private	$62 – $1863
Long-stay private	$72 – $2167
Short-stay	$35 – $1053

Retirement Costs British Columbia

Budget your Retirement in British Columbia

Ages and stages of retirement

Independent living seniors' care costs in BC

Assisted living costs

Listings below give specific rates:

Long term care costs

Can we afford it? Can we afford not to?

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