Re: limited equity co-housing
From: Elizabeth Stevenson (tamgoddesscomcast.net)
Date: Mon, 22 Dec 2003 17:17:09 -0700 (MST)
If I'm not mistaken, you can get a tax break for homeownership too, even
though you don't get the big investment payback. This can be a big savings.

Many people have tried and failed to finance cohousing this way, sadly.

-- 
Liz Stevenson
Southside Park Cohousing
Sacramento, California
lilbert [at] comcast.net

> 
> Santa Rosa Creek Commons, 22 years old, is a limited equity complex
> which has resulted in maintaining low prices.  For less than $20,000
> maximum, people buy a share in the housing cooperative.  That is 1/27th
> of the total 1.5 acre complex with 27 apartments. When they leave, they
> get it back.  They don't lose money but they don't make money either.
> Therefore, we are still offering share values for very reasonable
> prices and monthly carrying charges below market value for local
> apartments.
> 
> This has worked well for us but it goes against the grain of making
> money on real estate.
> 
> We also do much of our own management work .
> 
> At the moment, we have temporarily halted applications for single
> adults and are actively searching for families with children.  10 of
> our units are assisted living units.  H Lewis

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