|Re: lot pricing||<– Date –> <– Thread –>|
|From: Lynn Nadeau (welcomeolympus.net)|
|Date: Tue, 17 Nov 1998 17:11:19 -0600|
We valued our buy-ins at from $28-38,000 if I recall correctly. This bought a home site, as well as a share of the commons, common house, infrastructure, and such. We decided to vary the lot price because the objective real estate value of the lots differed. Some were larger, and-or more elevated, and-or had street impacts, or more or less frontage on commons vs shared property lines with other home sites. We had a challenging task because at the point we set lot prices, the 8 or so families had already long held "their" lot choices. We had to deal with all the different viewpoints about what made a lot attractive or unattractive (You have the thicket next to you! Yeah, but it's a fire hazard...) , as well as some folks being very laid back and generous in attitude, and others who were afraid of not getting a fair deal. We hired an outside faciliatator, paid cash to him out of our wallets at the meeting, and got the job done. Now we are down to our last several lots, and are adding in the factor that we want to encourage young working families, and so need to keep buy-ins as low as we possibly can, balanced against the money we "need" to realize from those lot sales for our common house budget. Those last-lot buy-ins are probably all to be $20-30K. I imagine your range of buy-in prices will be affected by similar factors. Re-sale value, in effect. So, how much range depends on how much range there is, measured in market values. Plus whether you want some lots to subsidize others, for income diversity. Lynn Nadeau, RoseWind Cohousing
lot pricing Barry Goldberg, November 17 1998
- Re: lot pricing Lynn Nadeau, November 17 1998
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