|Affordable Cohousing||<– Date –> <– Thread –>|
|From: Susan Adams (sadams430gmail.com)|
|Date: Sat, 20 Aug 2016 12:41:44 -0700 (PDT)|
Hi all, I just can't wait any longer! Even though I don't have a great deal of data to offer yet, I do have links. Floyd Cohousing currently doing business as Jubilee, is en route to becoming a housing cooperative. If you want cohousing and affordability, I urge you to investigate the CoOp option. If you become a market equity Co-Op you can make some money when you sell your home. If you choose to become a limited equity Co-Op, you will only recoup what you have spent, but your community will remain not only affordable, but, depending on the market, often extremely affordable. Construction loans, blanket loans, and share loans are all available to Co-Ops. Check out these links http://www.rd.usda.gov/files/sr45.pdf (very readable) http://coophousing.org/resources/owning-a-cooperative/buying-into-a-housing-cooperative/#paragraph14 http://sharedcapital.coop/about/ (very impressive lending institution) http://www.uwcc.wisc.edu/pdf/Cooperative%20Equity%20and%20Ownership.pdf I was a little daunted by the possibility of complicated book keeping, so followed a recommendation to call a CPA in Wisconsin who specializes in Co-Ops. It wasn't the first time (or the second) that a professional offered to spend several hours with us in a conference call without charge! I commented on that to him...and his reply was "anyone who works with co-ops wants to help more co-ops happen." Not the first time that co-ops sounded like cohousing! You probably won't be the first cohousing co-op, but you might be the second! Susan -- *www.jubileecoho.com <http://www.jubileecoho.com>* A great place to grow a family!
- Re: affordable cohousing, (continued)
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