|Re: I'm frustrated- diverse finances||<– Date –> <– Thread –>|
|From: Lynn Nadeau (welcomeolympus.net)|
|Date: Wed, 8 Jul 1998 00:45:21 -0500|
Matt: We want diversity, we say. But it can be challenging. And income diversity is part of that. At RoseWind in Port Townsend, it helps that we are a "lot development" model. At buy-in, a buyer pays a sum that covers their building site, the commons, the infrastructure (roads, utilities, etc) , and the common house. If, when, and what a person builds is up to them. We have building envelopes with setback requirements, and an advisory architectural review process, but people can build, and have built, a home of 800 sq ft or 2800 sq ft., with lots of custom work or none. Common expenses still require the concurrence of all lot owners, so I imagine if some folks here wanted a swimming pool and others didn't have money for it, they'd have to form their own pool fund somehow. Isn't there some way that a family like you describe can have their lower-cost, lower-quality, home, and those who want more can pay more and have it? Why are you all tied together? Even in groups where all the units were built at once, and "to match" , there have been arrangements whereby a standard was set, but that people could adjust what they got at their own expense, and have more space or more custom work or fancier appliances or flooring. If you break out your common house and other non-home items, then you can set a firm price for that, evenly divided. The differences in homes could be reflected in the other part of the payment. Here, we coexist pretty smoothly amongst a great variety of income levels. We just looked at doing something that could possibly end us temporarily in debt. Could we as a group guarantee the amount in question? Certain individuals couldn't guarantee a proportional share, but we concluded that -- as a group-- we had adequate resources that if it came down to it, we'd be able to individually loan the group enough to cover it, without each and every member needing to do that. Another possibility seems to be that those with more money can gift some to certain projects: say to pay for an upgrade to a wooden floor in the common house dining room. That way you can even influence what it's spent on. The group does have to come to an understanding of what level of assessments and obligations is expected. A low-income family can get help to buy in, but are they prepared to pay annual assessments and so forth? There are also cohousing groups that have a much higher average home cost and level of amenities than others, if you are willing to relocate. Good luck to you. Lynn Nadeau, Port Townsend WA
- Re: I'm frustrated- diverse finances Lynn Nadeau, July 7 1998
Results generated by Tiger Technologies Web hosting using MHonArc.