|Ratio of least to most expensive unit in, cohousing?||<– Date –> <– Thread –>|
|From: Joani Blank (joaniswansway.com)|
|Date: Wed, 15 Jul 2009 14:05:32 -0700 (PDT)|
Date: Wed, 3 Jun 2009 08:17:10 -0700 (PDT) From: Bonnie Fergusson <fergyb2 [at] yahoo.com> Subject: Re: [C-L]_ ratio of least to most expensive unit in cohousing? Bonnie said:"Since the largest units are also more than 3.5 times the square footage of the smallest this makes sense. Real Estate is generally priced more or less by the square foot and so are cohousing units for the most part, since they are essentially real estate with extra benefits." I say: I beg do differ a little with my dear neighbor and friend, Bonnie. The straight square footage proportionality comparison works well for some commercial spaces because of the small number of bathrooms and kitchens.
A 5000 square foot warehouse, manufacturing plant or retail store might have two bathrooms and perhaps a single rudimentary kitchen for the use of the workers. But if that same 5000 sq feet were divided into five 1000-sf. residential units there would be five kitchens and probably ten bathrooms. Or if it were ten 500 sf studios there would be 10 bathrooms and 10 kitchens in the same 5000 sf. In any residence, kitchen and bathroom square feet are much more expensive to build than the square feet any other rooms, so that the proportion of kitchen and bathroom sf to the entire square footage of the unit is relevant in setting the price. In other words, the per square foot cost of a larger unit is going to be less than than the per square foot cost of a smaller one.At Swan's Market Cohousing (where both Bonnie and I live) way back in 2000 when we moved in, the largest unit was 2.4 times larger than the smallest, and the original price was 2 times as much. (BTW both of these units had one bath each).
Joani Blank Oakland CA
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