| Hearthstone |
Retirement Residence |
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Ownership – Pride of ownership and equity. |
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Rental – No equity. |
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Can keep all personal belongings (may need to downsize according to space in unit). |
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Limited with personal belongings, furnishing
and linens. |
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Pay a monthly fee for basic services and purchase additional services as you need them. |
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Pay one all inclusive fee for a variety of services, whether you need or want the service. |
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Condo is self-contained unit, with kitchen, bathroom, laundry, storage and parking stall in garage. Overnight guests can stay in the same unit (space permitting) with the resident. |
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Retirement Residence typically consists of one room without its own kitchen or laundry. A parking spot may or may not be provided. Overnight guests are often not permitted in the
same room. |
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Can add services for a short term need and then reduce them again. |
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Services and fees are the same every month. Limited or no flexibility. |
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Hearthstone can customize services and packages to best meet needs. |
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Retirement Residence cannot customize services and most don’t have packages. |
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Dining room has a la carte menu that residents may choose from daily. |
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Daily menu is pre-determined, typically with only two choices per meal. |
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Services can be added so resident can truly “age-in-place” eliminating the need to move to Long Term Care. |
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Services are restricted to what is published in the Care Home Information Package (CHIP) and not easily changed without adequate notice – at least 30 days. |
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Flexibility with scheduling of services such as personal care and housekeeping. |
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Less flexibility with scheduling of services. |
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Privacy for residents assured with ownership of suite – staff are only permitted to enter if an emergency or with written permission. |
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Environment is institutional – staff enter suites day and night to “check” residents. |
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Homeowners choose Hearthstone – Hearthstone does not select, assess or decide who moves-in or out of the community. |
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Residents must go through lengthy assessment and approval process and are “admitted” when they move-in. If health declines to a certain level, resident will need to move to Long Term Care. |
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Personal laundry can be done by the resident or by the staff in the privacy of the resident’s own suite, with the detergent of their choice, when the resident wants to schedule the service. |
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Personal laundry labelled and washed in a central laundry (on a specific scheduled date) with several other residents’ laundry. |
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Monthly Meal Credit used at the discretion of the resident/member throughout the month. |
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Meals are often packaged in the monthly fee. |
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Hearthstone Communities Services Limited collects the Club Fee ongoing once the unit is originally sold by the developer – to sustain Club operations. |
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Marketing efforts ongoing to ensure rooms are occupied and not unrented – no rent, no revenue. |
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Average Monthly Club Fee: $899.00 |
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Average Monthly Fee: $3,000 - $5,000 |
