Boomers Want to Age in Place: How Will This Affect Senior Housing?

Senior Housing Market

It isn’t uncommon for aging seniors to need extra care.

In many cases, it means seniors must move out of their homes and into a care facility.

Things are changing, though. While a care facility seemed like the fate of seniors of the WWII era, Baby Boomers are doing all they can to age in place. In other words, they want to stay at home.

Thankfully, tech companies and healthcare innovations are making this possible for Boomers. Unfortunately for real estate investors, seniors staying at home means a loss in profits.

Real Estate Investors and Builders Might’ve Made a Pricey Gamble

Real estate investors and builders do their job based on future projections. In order to make those projections, they look at the current trends and anticipate whether the trends will continue or not.

For years, investors and builders have been putting money into new senior housing projects. It made sense since so many seniors were leaving their homes and moving into these types of facilities. Money has continued to be invested in these projects as investors figured more facilities would be necessary as Boomers age.

Anticipating Boomers would follow in the footsteps of the Depression and WWII era seniors is a huge gamble – one that might not pay off.

There are nearly 79 million Baby Boomers. If they decided to move into senior care facilities, real estate investors and builders would make a mint. However, due to technological innovations and modern healthcare, more seniors can stay at home longer – some are able to stay indefinitely.

Are You Interested in Aging in Place? Tips, Tools, and Technology Which Can Help

Are you interested in ensuring you or an aging loved one are able to stay at home for as long as possible?

Here are a few tools which can help make this happen.

AI Innovations, Like Alexa, Google, and Siri

You’re probably aware of how helpful Siri can be when you need to make a shopping list or have a random question you’d like answered. But this technology can do so much more.

Siri, Alexa, and Google can help seniors who have reduced mobility – including those in wheelchairs – accomplish things around the house. Instead of having to rely on someone to turn on the lights or lower the thermostat, seniors can take care of this themselves. These tech tools can also remind seniors to take their medications or call a loved one or doctor for help.

Other Innovations Help Reduce Senior Loneliness

Loneliness can be dangerous to seniors. Thankfully, it’s easier than ever to keep in touch with loved ones – even with everyone’s busy schedules.

Google Home, Amazon Echo, and HomePod allow seniors to digitally connect with friends and family whenever they want.

In-Home Care

Sometimes, seniors need some practical help at home. Home care aides are a great resource for seniors. They can take seniors on errands, help with chores around the house, and provide some much-needed human contact on a daily basis.

Senior Adult Day Centers

Adult day care facilities give seniors the opportunity to interact on a regular basis with people of all ages, including their peers and the senior day care staff and volunteers.

Regular attendance can help to significantly reduce feelings of loneliness.

Will aging in place be in your future?

Most seniors would rather stay in their own homes than move to an assisted living facility. Will aging in place be in your future?

We all want to retain our independence for as long as possible. It doesn’t matter what age we are.

With modern technology and the right assistance – like home care and adult day services – aging in place is becoming a more and more attainable future.

Leave a Reply

Your email address will not be published. Required fields are marked *