Cohousing-L Mailing List: COmmonhouse costs

[Rob Sandelin (floriferous]

If you are organizing your legal ownership structure as a condo, then it is
simply added to your mortgage and will look something like, Unit 23 and
1/35th of the common elements, the percentage being divided into the number
of units. This is the most common way condo club houses are funded, which is
how the bank views your commonhouse. It used to be that the high cost of the
commonhouse raised eyebrows at banks, but these days many high end condos
have expensive common elements and it keeps the values up so banks seldom
question it anymore.

Rob Sandelin
South Snohomish County at the headwaters of Ricci Creek
Sky Valley Environments  <http://www.nonprofitpages.com/nica/SVE.htm>
Field skills training for student naturalists
Floriferous [at] msn.com


-----Original Message-----
From: cohousing-l-admin [at] cohousing.org
[mailto:cohousing-l-admin [at] cohousing.org]On Behalf Of don i arkin
Sent: Friday, January 02, 2004 7:39 AM
To: cohousing-l [at] cohousing.org
Subject: [C-L]_common costs


Hi,  At Sonora Cohousing we also used a mixed approach to divvying up the
CH costs and the dues.  Our formulation was based on a loose
determination of what "uses" were affected by the number of users and
which ones were not.  This determination was based on the somewhat
dubious assumption that larger units held more residents as well as the
very debateable decisions that, for example, since the dining
room/kitchen had to be made bigger because more people would be using
them, units with more people should pay more.  Since everyone involved
realized how fuzzy the entire exercise was, the discussion and decision
was very relaxed and one of our best consensus exercises in my memory.
        In any case since all the homeowners own a share of the CH which
passes along with the title to their house, the costs of construction of
it naturally become part of the cost of the house.
        Don Arkin
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