As the world faces an aging population, a trend known as “aging in place” is gaining momentum. A recent Redfin survey found that 78% of baby boomers are planning to stay in their current homes as they age. Factors such as improvements in digital health services, financial incentives like low mortgage rates, and state tax benefits are contributing to this trend, encouraging baby boomers to remain in their homes rather than moving.
It is crucial for individuals to plan and prepare their homes for the elderly years. This movement focuses not only on home modifications like non-slip floors and grab bars but also on utilizing technology for safety and connectivity, along with comprehensive services for end-of-life care.
Larry Carlson, an experienced eldercare administrator with over 45 years of experience and an advisory board member for elder care medtech companies NuAIg and VirtuSense, offers insight into navigating the challenges of aging in place. “Having a plan for care is essential,” Carlson explained. “Financial preparation for future home care needs and deciding who will provide that care are crucial aspects of aging in place.” Planning ahead allows individuals to make important decisions while they are still able to do so.
