Cohousing-L Mailing List: Re: So what does it cost?

[Ann Zabaldo (zabaldo]

Fillard and all --

It's really helpful in questions like this to know where the  
cohousing community is located.  $800k in CA is not the same as $800k  
in the mid-West.  is $180s/f "green?"  Maybe in WA state and not in FL.

I reiterate a frequent request for people to post where they are  
located.

Sorry you didn't get any responses, Fillard.  I actually don't  
remember seeing the email.  Also -- 3,000 words is an essay.  Waaaay  
too much for me to read in that format.  Hope w/ the shorter email  
you will receive some responses.

Best --

Ann Zabaldo
Principal, The Cohousing Collaborative
Cohousing Consultant
--Takoma Village
--Eastern Village
--Baltimore City
--Annapolis
--Concord Village

“The Road to Enlightenment is Long and Difficult...
So Bring Cookies and a Magazine.”

Wk  202 546 4654
FAX 202 291 8594

6827 4th St. NW #312
Washington, DC 20012-1945




On Oct 19, 2006, at 1:51 AM, Fillard Rhyne wrote:

> Hey cohousers,
>
> Those of you who saw the message I sent over the weekend (3000  
> words plus a link to a large spreadsheet) may not be surprised that  
> I never heard back from anyone. So allow me to pose a more  
> approachable question:
>
> What are the classic "big costs" that a new cohousing group is  
> likely to be unaware of, or to grossly miscalculate, when its  
> members are still in the "dreaming about properties" stage?
>
>
> In case it'll help, here's an example: My small cohousing group was  
> looking at an $800k property that already had a large house on it.  
> One possible plan would have been to build 5 row houses with a  
> total square footage of 4450, which at $180 per square foot (we'd  
> like to be environmentally friendly) would cost an extra $800k.  
> We'd also pay $60k to retrofit the existing house, $10k for some  
> rudimentary landscaping, $60k for design, permits, and lawyers, and  
> $20k for slush fund/contingency. That's $1,750,000 so far. Add a 5%  
> project management fee and we get $1,838,000. If the construction  
> loan is for 85% of that figure and incurs 2% closing costs and 10%  
> total interest, the whole shebang comes to $2,028,000.
>
> Am I even close?
>
> Please understand that I know you haven't seen the property and  
> have almost no idea how we'd have used it. I know you can't tell  
> me, "Whoa, your plans to retrofit the existing house are pretty  
> elaborate; better up that figure to $100k." But does anything I've  
> written above look completely out of whack? Have I blown past some  
> huge cost item that's incurred by most cohousing groups? (For  
> example, I just realized I hadn't budgeted for project management,  
> so I went back and put that in -- increasing the bottom line by  
> nearly $100k.)
>
> Thanks,
> Fillard
> 503-777-MATH (6284)
> http://www.503777math.com
>
> "How silent the woods would be if only the best birds sang."
> - Dale Turner
>
> (1900 words this time. That's better than 3000, I guess...)
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