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The Top Rated Toronto Retirement Communities and Adult Living Choices for Retirees in Canada

Toronto Hearthstone by the Bay Retirement Community Development Provides Boost for Economic Woes for Retirees

No one is immune to the turmoil of financial markets, yet baby boomers and retirees may be the hardest hit and have the least opportunity to recover. While many people wonder how the retiree Canadian segment of the population will recuperate, the new Toronto Hearthstone by the Bay, an innovative Toronto retirement condo development, is creating a new approach to retirement living in Canada that will positively impact property investment portfolios. The Hearthstone by the Bay Toronto retirement community philosophy demonstrates that there is power in numbers. A monthly luxury rental retirement Toronto apartment based on double occupancy can cost upwards of six thousand dollars in today’s market. Factor in additional food, entertainment, house keeping and utilities and you are spending over $80,000 per year of taxable income on living in a top rated Toronto retirement community for adult living. Alternatively, by taking a capital real estate investment (such as the sale of a family house for $600,000) and applying it to the purchase price of approximately $365,000 for a 935 sq ft residence, living costs are as well as condo and club fees become reduced to $25000 a month for a new Toronto retirement condo community. Even if you purchased the condo with zero down, your monthly living costs and mortgage at the Hearthstone by the Bay retirement Toronto community condo would be approximately $5000 per month. Do the math, the result after 15 years is astronomical when it comes to comparing these numbers. The value of your original retirement living community condo in Toronto real estate market for adult living has now reached over $800,000. The option of renting would result in zero remaining capital after nine years! “The global economic downturn makes it critical to understand the financial impact of buying versus renting a retirement residence and how each option affects total cash flow, estate benefits and asset availability,” says Derek Thompson of Raymond James.

The Best Retirement Communities in Canada include the New Toronto Hearthstone by the Bay Adult Living Community

The Best Retirement Communities in Canada include the New Toronto Hearthstone by the Bay Adult Living Community

Why Owning an Adult Living Condo at Hearthstone by the Bay Toronto Retirement Real Estate Market Makes Sense

Derek Thompson also simplifies further the complex age old debate about owning a retirement home versus renting. “The answer can be found if you understand the Tax Act. If you have capital to invest and then use the capital to rent, the real estate investment income you generate is taxable. As you draw against it, assets are depleted due to the tax and income needed. Alternatively, an owned principle residence cannot be taxed as income and the asset continues to appreciate in value. I’ve matched renting versus owning costs for retirees in the analysis and the advantage sits with ownership due to the structure and costs of the Hearthstone by the Bay Toronto retirement home option.” Hearthstone by the Bay is a new Toronto retirement community of adult living condominiums for sale and will ultimately enhance the lives of retirees. Dog walking, airport pick-up and gourmet room service are only a handful of the luxuries planned for the resort style retirement condo. “The retirement industry is transforming and we are pleased to provide a very unique package that includes condo ownership, a resort lifestyle and health and wellness service as people need them,” says Renee Bourgon, Director of Marketing and Communications at Davies Smith Developments, who are in charge of the construction of the new Toronto retirement community at Hearthstone by the Bay adult living. Located on one of the best remaining sites on the Toronto real estate waterfront district – Hearthstone by the Bay retirement homes offers residents a modern retirement resort lifestyle with one of the most robust amenities packages on the property market for retirees. Residents at the Toronto Hearthstone by the Bay retirement residences will have opportunity to connect in a vibrant community featuring a gourmet restaurant and dining terrace, pub, library, greenhouse and cinema. People can pamper themselves with spa services, indulge at the private dining room, take an exercise class, workout in the resistance pool, or participate in community activities; such as organized trips, theatre and shopping – while taking advantage of supportive services located at the Hearthstone by the By Toronto retirement homes community health and wellness centre staffed by certified health care professionals.

Functional Floorplans, Outstanding Finishes and High Quality Craftsmanship of the Interiors at the Top Rated Hearthstone Retirement Condos in Toronto Canada

Functional Floorplans, Outstanding Finishes and High Quality Craftsmanship of the Interiors at the Top Rated Hearthstone Retirement Condos in Toronto Canada

More about the Hearthstone Toronto Retirement Homes for Sale

Designed by award winning Quadrangle architects and raw design (ongoing), condominium units at the Hearthstone by the Bay Toronto retirement adult living community range from the mid $200’s to the $500’s and feature wide entrances, faucets for arthritic hands and outlets that don’t require bending over. Munge Leung design associates have created sophisticated accents and designer options in the lobby and common areas of the new Toronto retirement living Hearthstone by the Bay community. “Today’s lively communities are definitely not your parents’ retirement home,” says Leanne, hearthstone Managing Director. Many of today’s retirees are more active than ever before and are looking for a community retirement adult living to fit their lifestyle. They want choices.” At the retirement living Toronto Hearthstone condominiums for sale, residents not only have a full menu of service options to choose from but as owners they also have a direct hand in developing them.” Any major life decision is important, and gerontology expert Jane Jones says, “starting the conversation early with parents and family members enables choice for those involved. For instance, connecting with a community while still active can enhance lifestyle and retiree longevity. And while it may not be possible to give the fountain of youth, sitting down and discussing options with family could be the best gift you give them. For more information about Toronto retirement living communities such as the Hearthstone by the Bay adult living, please visit www.HearthstonebytheBay.com or call 416.259.4466.

Retirement Living in Toronto is at its best at the Hearthstone by the Bay Adult Oriented Neighbourhood

Retirement Living in Toronto is at its best at the Hearthstone by the Bay Adult Oriented Neighbourhood

 

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