Your retirement home can be resort-like, if you can afford it

Costs vary greatly, as do amenities and services, for assisted seniors housing.

Diana Cawfield 1 June, 2018 | 5:00PM

If you are looking for a retirement home for a parent, factor in plenty of time for doing your homework. Laurie Johnston, CEO of the Ontario Retirement Communities Association (ORCA), says the research process can be lengthy, including visits and interviews for comparison among a growing choice of residences and amenities.

In Ontario alone, there are 723 licensed retirement homes, says Johnston, who is based in Oakville and previously managed two retirement homes. "It's a very diverse sector with myriad accommodations offering different amenities and services." The broad sector includes small retirement homes with only six residents to ones that accommodate more than 300.

Some homes are luxurious, others are more basic, and there are also mid-range alternatives. "It's just like people choosing a hotel," Johnston says. "There's a bed-and-breakfast type, a Best Western Hotels & Resorts type, and there's also the Four Seasons Hotels & Resorts type. So it really is important that you do your research and make sure that you're getting what you need and what you want."

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Chartwell Retirement Residences12.19 CAD0.08

About Author

Diana Cawfield

Diana Cawfield  Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto StarAdvisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.

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