Re: 50+ and affordable - money
From: Stuart Joseph (
Date: Sat, 30 Jun 2007 10:37:12 -0700 (PDT)

Marganne wrote:

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 agree. I also want to find folks that I can create a sense of community and good neighbors.

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.
Thank you for the compliment and the plug.
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.
We don't want a mortgage either, for reasons that i explained in another email, but we might have to get a small one if we don't get enough for the sale of our current house to pay for the new one. However, i think that there are banks that would be willing to lend money on places with less than 3 bedrooms- after all, they lend money on studio condos or co-ops, as well as 1-2 bedrooms. It just might take some searching to find that type of bank or lender.

Keep up the discussions, Marganne. i am glad you started this, it does seem to be a topic that a number of us are interested in. Of course, affordability will interest everyone regardless of age.
I get a lot of security knowing I'm debt-free.
I can relate.

Have a great weekend.

Stuart Joseph, 802-463-1954
Project Director
Caer Coburn, a traditional village based upon cohousing  and intentional 
communities in
Rockingham, Vermont, USA
Mail to:
36 Front St.
Bellows Falls, VT 05101 USA

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