Canadian real estate prices have surged in almost every market, with a typical home price doubling in many regions. A median household in major cities like Toronto and Vancouver would need to save over 20 years for just the down payment, more than 3x the historic average. Seems absurd? The outlandish scenario was apparently a […]
Assuming you’re talking about a full service retirement home and not just a 55+ building $5000/mo seems like a good deal to me, at least from a BC perspective. You’d be looking at almost $2000 just to rent anywhere, you’d be lucky to have a meal cooked for you for $10, $20 if it’s decent quality, that’s another $900-1800/month. Once you consider utilities you’re pretty close to what a new renter would be paying if they refused to cook for themselves.