The advancement of semiconductor fabrication technology and smart algorithms has allowed us to design and develop intelligent sensors with cognitive ability. Statistics reveal that in recent times the number of elderly people is increasing rapidly around the world and the situation is not going to ease in the foreseeable future. In this paper, we report a novel home monitoring system which is based on cognitive sensor network and is intended for elder-care application. The smart system consists of an optimum number of cognitive wireless sensors which are used to detect usage of electrical devices, bed usage pattern, flow of water, etc., and also incorporates a panic button. The cognitive sensors provide information that can be used for monitoring the elderly by detecting any abnormality pattern in their daily activities around the house. The system will generate and send an early warning message to the care giver, when an unforeseen abnormal condition occurs.