|Re: COHOUSING-L digest 670||<– Date –> <– Thread –>|
|From: Raines Cohen (coho-Lraines.com)|
|Date: Sun, 15 Nov 1998 17:12:55 -0600|
cohousing-l [at] freedom.mtn.org <cohousing-l [at] freedom.mtn.org> wrote on 11/15/98 8:33 AM: >$246 a MONTH?? Wow. Unless that included property tax, I'd consider >that quite high-end Actually, we're looking at Condo Assn. dues of at least that much (adjusted slightly for unit size), in line with other cohousing groups and condo associations, based on unit prices of $150K-300K. (we just got a proposed Assn. budget from the developer, created by a knowledgeable consultant, and are in discussions/negotiations over what's actually needed/prudent and what's missing). In our case, that includes heat and hot water for all units, utilities for the common house, power for and replacement of lights all around, and maintenance on the common house elevator, but the biggest part is the state-mandated reserve fund that assumes, for example, that we have to entirely replace our 20-year roof, in full, in 20 years. Yes, highly conservative, but also quite prudent and a great way of keeping from encountering unexpected mandatory assessments down the road. Interesting conservative approach it takes: assume interest = inflation, and factor in neither. BTW, no taxes on the common house - each unit is assumed to own a share of it and so it factors into the total unit value for sale and tax purposes. Raines (taking advantage of the urban milieu: heading off this AM to brunch with the Swan's web team at the Happy Belly Cafe at Jack London Village, then stopping at the year-round farmer's market at Jack London Square, followed by a regular group meeting at the hotel across the street from our site, and then a group visit to the Circus Chimera ... all within walking/biking distance!) Raines Cohen <coho-L [at] raines.com> <http://www.swansway.com> Member, Swans Market Cohousing - Old Oakland neighborhood, CA Our construction loan/investment finally in escrow this week; Demolition complete; foundation well along; Occupancy Fall '99
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