Why retire in London?
Located in southwestern Ontario, London is one of the largest urban municipalities in the province. It is nicknamed “The Forest City” because it is an urban area with plenty of love for greenery. It is home to many parks, conservatories, and other green areas. With the Thames River running right through the heart of the city, this a fun blend of nature meets modern city. The river itself dominates the city, which is one of its most exciting features to those who come from near and far.
Population and Demographics
One of the most interesting features of London is its senior population. With many London Retirement Homes available to choose from, the population of London contains 16.9 % senior citizens (those age 65+). As in many cities, this number is expected to increase in the next census. The population of the city of London, Ontario is steadily rising, coming in at 383,833 people on the 2016 census.
With such a high percentage of seniors, it is loaded with features that are designed for the older population and its needs, including excellent medical facilities and many activities and programs designed just for older adults. With a great, stable intercity transport, as well as public transport within London itself, driving isn’t required in order to enjoy many of the city’s greatest features.
Features of London
With its nickname “The Forest City”, there is a strong connection to green living in London. Many protest the removal of trees, deeming that it’s important to keep the spaces as green as possible by removing only what is absolutely necessary.
Another feature of London is its incredible dedication to celebrations. London is home to many different events, including Pride, multiple arts and music festivals, and the beloved Rib Fest.
Enjoyed by kids, adults, and seniors, London boasts an interconnected, impressive bike network system that spirals through many of the city’s main sights. Great for those who wish to bike safely and contribute to less carbon emissions -- furthering the green focus of the city -- this is a great outdoor adventure.
Lastly, this is an affordable place to live compared to many larger cities. From expenses to access to medical facilities, to overall quality of life, London Retirement Homes are popular simply because seniors can enjoy life in comfort and security with access to many resources.
Historical Relevance
Founded in 1826, London was named by Lieutenant-Governor John Graves Simcoe. London had its fair share of disasters in its early years. Of note was the fire of 1845 and the Victoria Day Disaster of 1881.
In 1845, a large fire destroyed 20% of London, including 150 wooden buildings, when one of the first things to burn was, ironically, the city’s only firetruck.
On Victoria Day in 1881, a ferry capsized in the river resulting in the death of 200 passengers. Everyone in the community was directly impacted because the young village had a very small population at the time.
Between 1961 and 1993 London annexed a lot of its surrounding communities. This was partially to help increase its population, but it also wanted to spread its limits further. As a result of the significant amalgamation of outlying areas, London’s size has it ranking as the sixth largest city in the province.
(Some information on this page has been sourced from https://en.wikipedia.org/wiki/London,_Ontario)
Costs of retirement living in London
Retirement Homes vary in price depending on many factors including ownership, location, size, type of room, and amenities. In general, because London is a significantly sized-city compared to some of the nearby regions, Retirement Homes in London will cost more than Retirement Homes in smaller, less populated areas. CMHC’s 2020 data indicates that the average rent in Ontario for a 'seniors' residence' is just under $4,000/month. That being said, there will always be those that charge less, and others that charge more, than what is deemed to be the average cost per month. Retirement Homes in a city like London, will average between $3,000 and $6,000/month depending on many factors. In general, smaller, independently owned homes will cost less than large, corporately owned homes or even boutique-style homes which may be located in the more exclusive areas of the city.
Retirement Homes are governed by both the Retirement Homes Act (RHA) and the Residential Tenancies Act (RTA) in Ontario. As such, the rent portion of what you pay is under 'rent control guidelines' and the related legislation for 'care homes' under the RTA but, the care portion is not regulated because there no legislation governing what you pay for care in a private residence. This has resulted in Retirement Homes creating two separate price schedules – one for room & board, and a separate one for different types of care packages. It is of utmost importance when you are researching Retirement Homes, that you ask about charges for care services, and other costs that you may be responsible for (e.g., cable, TV, internet, activities, etc.). In order to understand how much to budget for future care increases, make sure you ask about when and how much the last few increases were for the care packages if you are seriously considering a specific home.
If you are interested in comparing the cost of living in a senior’s residence with the cost of aging in place in your own current home, you can visit our cost calculator page on SeniorCareAccess.com to print off a comparison chart that you can complete when you are researching Retirement Homes in London.
For homes in nearby areas, click on any of the links below:
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