Pros of Medcottage
1. Emotional support
It is very difficult to leave your loved one in the old-age home with whom you have spent all your life. Research has shown us that up to 50 percent of the elderly living in old age homes suffer from depression. This high reason is due to a lack of family support, reduced interaction with others, and social, economic and health problems.
By keeping your elderly in the backyard of your house, you can monitor their health and safety as well as provide companionship while still respecting their autonomy.
2. One-time Investment
People find nursing homes very expensive. Better services are available at extra cost. The majority of old age people pay for the services from their pensions and get the remaining amount from their children. Most of the time their children don’t have enough money to pay for the services. Medcottage is a one-time investment. There aren’t cheap investments but can prove money savers over a couple of years. Medcottage has a one-time cost of around $85,000 to $125,000.
3. Save time
Due to the busy routine and increased workload, children are unable to visit old-age homes frequently. Sometimes, old age homes are far from their homes. By keeping the elderly in the medcottage in the backyard of your home, any member of the family can visit them anytime and check on them.
4. Solution for a shortage of space
In large cities, people always have a shortage of space in their houses. Medcottage is a portable pod that can be placed in a certain area of the house not consuming much space. You can also customize the cottage according to the availability of space in your house.
5. Freedom to live
At this stage of life, the elderly want to live their life independently. Living with families under the same roof can limit their freedom. Unwillingly, they have to live in the house according to the laws and regulations of the family. These separate pods can give them all the independence they want. Moreover, they can also design the cottage according to their requirements.
6. Can be used as a guest house
The investment you did in building the medcottage will not go in vain later. You can use the cottage as a guest house and collect good profit.
7. Equipped with the latest equipment.
Unlike the nursing home, medcottage is fitted with the latest equipment to monitor health. Smart home features are installed to control everything remotely, a health monitoring system keeps the
track of your health, a virtual assistant reminds the elderly to take medication on time, sensors and cameras are installed that can alert you about the occupant’s fall and many more.
8. Increase the resale value of your house.
The addition of medcottage in your house can increase the resale value of your house.
Cons
1. Not ideal for frequently relocating families.
The medcottage isn’t ideal for families who frequently relocate themselves either due to job purposes or some other issues.
2. Legal permission
Some states have set some rules and regulations to build the medcottage on your house. If your house fulfill those regulations only then you are allowed to build the cottage on your home. For example, some states allow medcottage to be built on property that is at least 1200 square feet in size. While other states give permits only if you have lived in the house for more than 3 years.
3. People who live in rented houses or apartments.
Not all the rental properties have medcottage, if you are living in a rented house or apartment you will find an attached medcottage less likely. In a family, you have to raise your children and also look after the elderly. As a landlord, you should understand the needs of your tenants and provides a safe and comfortable living situation.
4. You can’t build a gym or pool.
If you have limited space available in your house, and you want a medcottage in that space then you can’t build other outdoor facilities like a gym or a pool in that space.
5. Huge Investment.
Even though you get a return on your investment, a lot of upfront money is required to create a medcottage. However, the upfront cost might vary based on some variables, such as whether you want to build one from scratch or restore an existing building.
