Cohousing-L Mailing List: 50+ and affordable - money

[Marganne (marganne]

At 10:07 AM -0400 6/28/07, Ruthpoet [at] aol.com wrote:
> I'm new to the list, but was interested by this topic. My partner and I are 
> 47 and 45, no kids. So the host of new elder-cohousing projects happening out 
> there are probably 15 years premature for us, but the majority of other
> co-housing seems to be focused on raising kids, which also doesn't fit for us.



Absolutely! I'm not ready to throw in the proverbial towel yet, even 
to the wonderful new elder-cohousing projects. Maybe ... Someday ... 
I vacillate between seeking people like myself (50+, no children, 
single) to wanting the advantages of a multi-generation project. 
Realistically, since I wasn't raised with siblings or around 
children, adapting to a project filled with young families could be a 
challenge.


> (Also, we  are lesbians, and a lot of communities seem to be 
> designed with a very hetero  focus, though "open to" others. Then 
> there are the communities that are  exclusively LGBT. We'd prefer 
> more like a half and half mix. Anyone else like us  out there?)


My hand is up. The sexuality, political persuasion, color, religious 
beliefs of someone isn't as important as finding people who share my 
goals.


> I'm wondering though, Marganne, why the aversion to having a  mortgage? Not
> expecting an answer - your way of managing money is your own 
> business - but it struck me as interesting.


One of the things I liked about the Caer Coburn project in Vermont 
was it's members can build their own houses their own way, giving 
them control over costs. This fits a variety of incomes.

Mortgages are an entirely different thing. I live on a fixed income 
and but don't qualify for public housing or HUD homes, etc. If I'm 
going to spend less than $100,000 for a home less than 1,000 square 
feet, paying up front is an advantage. If I can do this, I can avoid 
trying to get a loan for such a relatively small amount from places 
who feel there isn't sufficient resale value in a home with less than 
three bedrooms. I probably would feel differently if I was still 
employed.

I get a lot of security knowing I'm debt-free. It's also possible 
renting rather than buying is a better financial choice for me long 
term.

> Ruth, in Massachusetts (but formerly from California - and I wish it  weren't
> so expensive out there!)

Ditto. I grew up in Los Angeles, then moved north to the Sierra 
foothills and never looked back. As attached as I am to California, I 
will consider other moving elsewhere to achieve my goals.

Cheers!
Marganne