As you approach retirement, perhaps you are considering the option of moving into a private retirement home that offers all the services you need? Or maybe an elderly parent is requiring special care, and you are looking for a perfect living environment, well adapted to his or her needs. In all cases, a very legitimate question inevitably comes up: what is the actual cost of living in a retirement home in Quebec?
It is important to realize that the cost of renting an apartment or a room in a retirement home can vary greatly depending on several factors: geographic location, services offered, size of the rental space, etc. When possible, it is therefore recommended to take the time to properly plan this transition, especially by targeting your real needs. Whether your search is for yourself or for an elderly relative, Visavie’s team will be happy to carefully guide you through this important step, helping you make the best possible decision without compromising your actual budget!
Exploring the different types of retirement homes in Quebec
To fully understand the average cost of living in a retirement home, the first important thing is to be able to make a distinction between the different types of living environments available to seniors in the province of Quebec.
1. Independent Living Retirement Homes
Among all retirement home types, independent living retirement homes are certainly one of the most common. The purpose of these establishments is to provide a welcoming environment for the elderly in Quebec whose autonomy does not require any specific care or supervision. Residents can then fully enjoy life, without having to worry about the responsibilities and tasks required when living in a house, such as maintenance or meal preparation. In addition to benefiting from a wide range of services, seniors can also choose from a vast selection of leisure activities!
2. Assisted Living Retirement Homes
For a variety of reasons, often related to some kind of health condition, an individual’s autonomy may diminish over time. Even if these changes often impact the ability to carry out some daily tasks, an interesting option for semi-autonomous seniors is to consider moving into an assisted living retirement home. This way, seniors can maintain their maximum autonomy in a safe and supervised environment, while receiving the care they need to maintain this independence.
Typical services offered in assisted-living residences for seniors:
- Assistance with eating and meal preparation;
- Accompaniment during transportation and outings;
- Personal hygiene assistance;
- Housekeeping services;
- Nursing care;
- Social activities and entertainment;
- And much more, according to the needs of each resident.
3. Continuing Care Retirement Homes
Did you know that a special type of retirement homes is specifically designed to evolve at the same pace as your needs? This is indeed the mission of a continuing care retirement home. By considering your current reality, but also your future needs, these facilities offer progressive care for seniors through a personalized approach. All this, while offering all the advantages of greater stability within the same living environment.
4. Private residences for seniors living with cognitive disorders
If an elderly relative in your family is showing signs of memory impairment or has recently been diagnosed with a neurodegenerative disease, you may be interested in finding the best environment, specially adapted to his/her needs. When choosing a retirement home specialized in cognitive disorders such as Alzheimer‘s or Parkinson‘s, you can be sure that the personnel working there have been properly trained to provide the best possible care and support for your elderly loved one.
5. Intermediate resources and CHSLDs
In addition to the various types of private retirement home, the province of Quebec can also rely on other types of establishments like intermediate resources and long-term care facilities (CHSLD).
Interested in learning more about the different types of living environments available to seniors throughout Quebec? Please feel free to contact the Visavie team at any time for more information !
Understanding the cost of living in a retirement home
The price associated with each of these types of accommodation previously listed can, of course, be quite different from a place to another. It is then important to identify the major factors that influence the cost of a retirement home Quebec.
Although quality of life and individual needs should always be a priority when choosing a retirement home, the actual cost of living also represents an important consideration. Depending on your situation and your income, you will need to respect a budget that is realistic for you while looking for the ideal retirement home according to your own specific reality!
Factors that influence the cost of living in a retirement home
To properly understand the cost of a retirement home, it is important to consider the main factors influencing the price you will pay for the leasing:
- location of residence (town, area, proximity to amenities, etc.);
- types of services included (meals, activities, housekeeping, etc.);
- health care access, as needed;
- size of the apartment and number of rooms (studio, 3 ½, 4 ½);
- and much more !
Taking these factors into account, the next step should be to determine your own priorities. Choosing to move into a retirement home is one of the most important decisions of a lifetime. To ensure a positive experience, it is therefore important to be well prepared. In this way, the transition to a retirement home may become much smoother.
Average cost of rent for a retirement home in Quebec
Although the cost of living in a retirement home varies from one establishment to another, it remains possible to estimate the average rent paid across the country. Through their Seniors Housing Survey, CMHC (Canada Mortgage and Housing Corporation) has taken the time to collect those interesting information for each province across Canada. For the year 2021, this survey indicates that the average monthly price paid for a retirement home in Quebec was estimated at $1922.
Helpful tip: Once your needs and priorities have been established, it is then important to take the time to compare the different residences. Make sure you gather all relevant information, such as detailed rates and all the services included. When an interesting facility is identified, we strongly recommend visiting it in person, if possible. We truly believe that this is the best way to feel the pulse of the location. During your visit, you will have the opportunity to meet the staff on site, experience the atmosphere, and maybe even discuss with some of the residents already living in the residence. This way, you will then be able to make a well-informed decision based not only on the cost, but also on the surrounding factors and conditions.
Tax credits and financial support for seniors
Did you know that many sources of financial assistance are available to seniors in Quebec? From specific programs to tax credits, there are many ways to help seniors financially cope with the cost of living.
Tax credit for home-support services for seniors
Whether you still live in your own home or in a private retirement home, this program is available to you! Indeed, even seniors living in residence can benefit from the provincial tax credit for home support.
To qualify for this financial assistance, you must:
- be 70 years of age or older;
- be a resident of the province of Quebec at the end of the taxation year.
In order to figure out how much money you are entitled to, the first step is to list all the services you use that qualify for the credit. According to Revenu Québec, here are a few examples of those services :
- hygiene and dressing assistance;
- nursing care;
- meal services provided by the residence;
- help with mobility and transportation;
- and much more.
Whether they are already included in the cost of your basic rent paid to the retirement home, or are additional, you can still claim a tax credit for the portion used. In other words, there is no reason not to take advantage of the many amenities available, especially if they can contribute to improving your quality of life and well-being!
⇾ Looking for more detailed information? Then we invite you to read our special Visavie article dedicated to this topic : Tax credit for home support for seniors.
Shelter allowance program
Are you familiar with the shelter allowance program? Designed to help seniors for whom the cost of rent represents a high proportion of their total family income, his goal is to ensure that access to housing (or a residence for seniors) remains possible for everyone, whatever the budget.
To qualify for this financial assistance program, you must meet the following criteria:
- Be a single person aged 50 or over, or a couple with at least one spouse aged 50 or over;
- Must reside in the province of Quebec;
- Officially rent (or own) the dwelling in which you live ;
- Have an annual family income that is below the maximum eligible income.
** To obtain more information about this program, please visit the Shelter Allowance Program section of the Revenu Québec website.
Senior assistance tax credit
Another interesting financial measure for older adults in Quebec is the Senior Assistance Tax Credit. Available to seniors aged 70 or over, or whose spouse is at least 70 years old, this refundable credit is available to Canadian citizens (or permanent residents) residing in Quebec. Since the credit is calculated in relation to income, prioritizing seniors with lower incomes, the amount granted varies from one individual to another.
⇾ Ready to find out more about financial assistance programs available to seniors across Quebec and Canada? Take a look at our blog post covering this topic in more detail : Government grants for seniors in residence.
Planning and budgeting for retirement
Preparing for retirement is never too early! When possible, planning for this important stage in your life is always a good idea. Whether for yourself, or for an elderly relative you care about, every retirement project is unique. And there are plenty of factors to consider. In every case, good budget planning generally helps to ease this transition.
- Make a list of incomes (job income, pension plans, RRSPs, etc.);
- Define all fixed expenses (groceries, car, phone, personal care, etc.);
- Identify your real needs (special medical requirements, geographic location, social life, etc.).
By doing so, not only will you be able to choose a comfortable living environment that suits your needs, but you’ll also be able to figure out what the cost of living may realistically be based on your financial situation.
In conclusion, whenever the time comes to find a retirement home adapted to your particular situation, or the one of an elderly relative, make sure you first understand what the cost of living in a retirement home actually implies. Compare prices, take the time to visit the facilities, examine the impact of the different factors on cost, and make sure you have all you need to make a well-informed decision by choosing the best available residence in accordance with your needs.