Smart Homes: The New Age-In-Place Industry for IT
Are you a grandparent who has lived in the same house since you were 22 and bought it with your first spouse? The idea of aging in place has become especially attractive for a variety of reasons: the cost of living, skyrocketing healthcare costs, and the attractiveness of continued independence all factor into the equation.
Nowadays, many millennials buy homes with the intention of renovating them. They may eventually sell them or keep them as investment properties, then move to a larger property or new city. Aging in place is more popular than ever, and there is a new connection between older generations and younger ones: although millennials may not be living in age-in-place homes, they (along with Gen-Xers) are the ones building and developing the technology for them.
Smart homes have taken the place of age-in-place homes for the last several years as the internet of things (IoT) expands into everyday living. Aging doesn’t happen quite the same way that it used to in this age of advanced technology. We now have smart homes that come equipped with technology that allows seniors to actually live at home, rather than being confined to a few rooms in the house. And because of this, technology now plays a massive role in the United States’ increase in life expectancy.
Homes that used to be dangerous and lonely now come rigged with emergency responder technology, inclusive developments like ramps and single levels, and everyday tech that make living your life easier, like refrigerators that tell you when you’re out of eggs and remote controls that manage every electronic in the house.
A common misconception about smart homes is that they are expensive. Technology is surely expensive but with the help from renovation mortgage loans, turning your bland home into a genius home is easier than ever. Not to mention, companies have been doing everything they can to make updated, energy-efficient, smart technology available to everyone, rather than to those in the upper 20 percent of wealth. Because of these advancements, careers in the age-in-place industry have been growing as the dream for a smart home becomes more achievable for more people.
For millennials, careers in tech and IT are easy to come by as the demand for technology continues to grow. Smart homes and the age-in-place market are excellent industries for technologically-savvy retirees to invest their time and talent: not only does it allow them to work with the most advanced tech on the market; it also introduces them to an industry that has gained a lot of momentum in recent years.
This year was critical in the development of smart home technology. More and more people are adopting the technology in smart homes, creating a shift in the way homes are constructed, lived in, and renovated. This shift also created a change in the ways families interact, making their lives easier and more connected with IoT.
What does this mean for the future? This means that people will have access to IoT from anywhere in the home, from any device, at any time. There will be a network of connectivity happening between your refrigerator, your A/C unit, your fireplace and your cellphone. Maintaining your home will no longer be the daily duty of one individual. Now, managing your home is as simple as the press of a few buttons.
Tapping into the genius of this industry is good not only for retirees, but also for younger people trying to gain their footing in the new gig economy complete with ever-skyrocketing real estate prices and utility expenses. As long as the cost of living continues to rise, we’ll have to put our heads together to figure out how smart living arrangements can work for all of us. An app like Nesterly, with its vision of multi-generational living, makes paying the monthly mortgage bill easier than it used to be. Furthermore, the age-in-place industry features modified bed, porch, and shower designs that cater to the needs of aging adults who intend to reside in their homes for as long as possible.
Whether you’re a Baby boomer, a member of Generation X, a millennial, or a member of “The Greatest Generation,” you can get involved with an age-in-place based business. All you have to do is start studying smart home technology. Who knows? You may stumble into a new configuration for your home or a career that never falters.
Author: Daphne Stanford