Re: Creative financing of individual portions of the common house?
From: Mabel Liang (
Date: Mon, 21 Jul 2008 17:43:03 -0700 (PDT)
Just looking for some clarification

1) Sounds like a lot development model, yes?
2) You can't possibly mean that each household will be paying $18,000 per
month for the common house.  Is that the portion which they need to come
up with somehow, for a total of $21,000?

We are apartments and townhouses, so the cost of our common house was
figured into the cost of the unit, and thus, into people's individual
mortgages.  There was at least one case where a group of people chipped in
to invest in a unit, with a complicated payback scheme depending on how
long the resident-owner stays in the unit.

We also had some internal loans for our down payments.

-- Mabel :-)

Mabel Liang
mabel [at]
Software Engineer turned Gardener
Cornerstone Village Cohousing
Cambridge, MA

---------------------------- Original Message ----------------------------
Subject: [C-L]_ Creative financing of individual portions of the common
From:    "Maggi" <maggi [at]>
Date:    Mon, July 21, 2008 8:12 pm
To:      "Cohousing-L" <cohousing-l [at]>

We are starting to plan our common house for the third time.  =P  As  
part of this process, we have a subcommittee looking at creative ways   to
help our members finance their individual portions of the common   house,
both a) the down payment (very roughly $3k each household) and   b) the
monthly payment toward a total portion (very roughly $18k each  
household).  This does not include monthly payment of taxes,
insurance and utilities.

Of course, there are the usual home equity loans and gifts from Uncle  
Joe, but we know we have at least a few members who will not be able   to
manage either (a) or (b).  We are wondering how other communities   have
helped their own members with this kind of additional cost.


-Maggi Idzikowski
Touchstone Cohousing
Ann Arbor, Michigan
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