Renting vs. Owning - Cost Comparison Tool

In addition to other lifestyle benefits of renting Independent Living Apartments at Schlegel Villages, there can be significant financial benefits

 

  • Ability to unlock the value of your current home
  • Long-term predictable rental costs
  • No unpredictable maintenance costs – they are all included in rent
  • No more utility bills
  • Many included services and benefits: for example; linen service, housekeeping, recreation or club memberships, storage locker
  • Flexibility – freedom to end your lease on 30-days notice
  • And easy access to additional optional services as you may need them

 

Use our cost comparison tool to help you decide if renting an Independent Living Apartment is right for you.

Tips:

  • You’ll need your utility bills for the last year handy
  • When considering your home repairs and maintenance costs, consider what they have averaged over the last several years, and any significant expenses coming up (any home modifications required in order to live more comfortable at home?)
  • Have your banking and financial statements at hand
  • Fill in the spreadsheet, and then discuss with your own financial advisors

Resources:

Cost comparison tool

Monthly household expenses

Mortgage or rent payments

Homeowner insurance premiums

Property taxes

Monthly expenses today
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$
$
Schlegel Villages Independent Living
$

Content insurance only

Included

Utilities

Hydro

Natural gas/heating

Garbage collection

Water and sewage

Condo fees

Security monitoring

Phone

Internet

Cable

Monthly expenses today
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$
$
$
$
$
$
$
$
Schlegel Villages Independent Living

Included

Included

Included

Included

Included

Included

$
$
$
Maintenance and home services

Snow removal

Gardening/landscaping

Housekeeping

Laundry (Linen and towel laundry included)

Parking (if applicable)

Monthly expenses today
$
$
$
$
$
Schlegel Villages Independent Living

Included

Included

Included

Plans available (Personal laundry)

Included

Home repairs and maintenance

Appliance repair/replacement

Furnace/AC maintenance

Repairs and replacement (roof, driveway, landscaping, painting, carpet, tile, etc.)

Plumbing and electrical

Storage

Renovation costs

Monthly expenses today
$
$
$
$
$
$
Schlegel Villages Independent Living

Included

Included

Included

Included

Included

Included

Recreation and fitness

Gym/fitness membership and classes

Entertainment, clubs and recreation

Snacks, coffee, etc.

Monthly expenses today
$
$
$
Schlegel Villages Independent Living

Included

Included

Included

Care and support services

In-home care

24-hour emergency alert monitoring and response

Monthly expenses today
$
$
Schlegel Villages Independent Living

Plans available

Included

Total

Total

Current Monthly Expenses Total
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Schlegel Villages Monthly Expenses Total
$