Rental retirement rates in the Kitchener Waterloo area can range from widely depending on the type of building and services provided. Prices for retirement living confuse many because in most cases, it’s more than just rent.
At first glance a monthly price may seem high- especially when compared with other rentals, however a closer look at monthly rates at retirement homes typically include a lot of extras such as meals, housekeeping, laundry and more.
In Kitchener Waterloo Region, seniors can access different types and levels of senior living. These are categorized from the most independent – seniors’ apartments and progressing to serviced retirement living and then to assisted living suites. Prices generally increase as care and services increase so it’s important to choose the right option for you or your family member.
At Hygate on Lexington, Waterloo’s newest retirement residence, there are three levels to choose from – Senior Apartments, Independent Living PLUS and Assisted Living. Hygate offers numerous amenity areas for residents to gather and enjoy including an oversize gym, hair salon & spa, Bistro, fitness centre, craft room, chapel, and games room.
Senior Apartments offer more active seniors a lifestyle where they may stay independent. These suites are generally larger and feature full kitchens so residents may opt to continue to prepare their own meals. Two-bedroom, one bedroom plus den and studio suites offers a range of sizes to accommodate singles and couples. At Hygate, monthly rates start at $3750 which include all appliances, and access to Hygate’s daily programs.
Independent Living PLUS (IL) at Hygate includes a well-designed suite includes a kitchenette with fridge, dishwasher, and microwave, and a 3-piece washroom with step-in shower. Other features include individually controlled heating /AC, in suite washer/dryer and window coverings. All meals are included each month, as well as access to daily activities and outings on the private bus. Safe and secure building. Bi-weekly housekeeping and laundering of linens is also a great feature of this lifestyle option. Pricing starts at $2995 per month.
Assisted Living (AL) features private suites within a self- contained floor complete with dining, activity room and nursing station. 24-hour staffing, medication administration, assisted bathing, visiting physician, weekly housekeeping, and laundry. Rates are higher for assisted living as there is a full-time Director of Care managing the care and support for all residents each day. Rates begin at $4335 per month.
If you are a couple, you should factor in a charge for a second occupant. At Hygate an additional ‘companion fee’ for couples ranges from a modest $395-$595 per month depending on the suite level you choose. The Sales Team and Hygate’s Director of Care can make recommendations as to the best fit for you.
When comparing the cost of retirement living versus living at your existing home, you need to factor in all the costs associating with home ownership. Monthly bills for heating, utilities, property taxes and insurance can be costly as well as larger unexpected repairs and upgrades line a new roof.
As well home maintenance can be costly and requires a lot of on-going effort. Inflation and food costs are continuing to rise, and it can be a much simpler solution to pay one, all-in rate each month.
An all-inclusive retirement home rate leaves less chance of unexpected surprises that you are exposed to as a homeowner. It’s a good way to manage expenses when you have a fixed rate and budget. Snow removal and yard maintenance can be a thing of the past, freeing you up to enjoy new pursuits.
Some seniors worry about managing the monthly rates at retirement homes. Krystie Zolnai, Sales Associate at Hygate on Lexington says, “Most seniors who are selling a home to make a move with us have adequate funds to live their full retirement years with us”.
Kitchener Waterloo region is a wonderful place to retire and boasts a large senior population. Retirement living allows many seniors to remain in the community they love while getting support as they age. Hygate is in an excellent area of the city, just blocks away from the region’s two world-class universities, as well as Conestoga Mall. Hygate is also close to St. Jacobs and Elora, and an hour out of the GTA.
Hygate on Lexington offers trial stays so you can experience the lifestyle to help you make the right decision. To book a tour of Hygate, email info@hygateliving.com or call 519-501-1131. Hygate is located at 215 Lexington Road in Waterloo.
Article Published on August 22, 2023. Rates are subject to change. Please inquire for current pricing.
