|Re: Cohousing as Investment?||<– Date –> <– Thread –>|
|From: Lynn Nadeau (welcomeolympus.net)|
|Date: Thu, 14 May 1998 16:56:38 -0500|
Buy-in at our project (RoseWind in Port Townsend WA) is not "trendy, over-priced", but it is market rate. The same amount of money (about $38,000) would buy you a double lot in a so-so part of town. If it wasn't already on city utilities, you'd have to fork over another $12,000 or so for city-required road improvements, drainage, sewer cleanout valves, fire hydrants, etc. By comparison, what you get here is a single lot (about 5000 sq ft) of your own, and four and a half acres of commons. It's like everyone bought a double lot, but the second lots are all pooled. You also get roads, sewer, water, buried power and phone, all to your lot corner. Money for the common house (about $8000) is also part of the buy-in price. And of course you get the value of being in a community. So, for a similar amount of money, you get what seems like quite a few advantages. Ongoing costs (pre-common-house) are $200-400 a year per household, with payment plans available. So far that hasn't been an obstacle. Once you own a lot, you are free to spend as much or little as you choose, to build on it. Homes have been built for $80,000 and up. It's pretty easy to spend twice that. In theory, one could build a very small house at local building costs, for $65,000. Manufactured homes are also OK: perhaps they would be less. We keep trying to find ways to hook up with some way of increasing affordability on our remaining unsold lots --- presently exploring Habitat for Humanity and a self-help program through a neighboring county's housing authority. So far, limiting criteria, a not-very-together local housing organization, or inscrutable funding cycles or sources, have gotten in the way of a solution. We keep trying.
Cohousing as Investment? Gretchen, May 14 1998
- Re: Cohousing as Investment? Denise Meier and/or Michael Jacob, May 14 1998
- Re: Cohousing as Investment? Lynn Nadeau, May 14 1998
- RE: Cohousing as Investment? Rob Sandelin, May 14 1998
- Re: Cohousing as Investment? laura willits, May 14 1998
- Re: Cohousing as Investment? Cheryl Charis-Graves, May 15 1998
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