Cohousing-L Mailing List: Tips for selling/moving from own home to senior cohousing

[Katie Henry (katie-henry]

Most of our members/future residents own their homes and will be selling to 
move into cohousing when construction is complete in about a year and a half. 
Does anyone have any tips for managing the timing? If a house sells quickly and 
construction is delayed, some members could end up living in a hotel for too 
many months. The housing market in Tulsa is currently very healthy and 
short-term rentals are scarce and expensive. This is causing a lot of stress 
for some members.

Have any communities done anything as a group to mitigate this risk? A few of 
us have tossed around the idea of buying two or three units in a nearby condo 
community. They're affordable enough that individual members could pay cash and 
the HOA fees aren't bad. The other members (either all members or just those 
with houses to sell) would chip in to reimburse the buyer for the monthly 
expenses. It would be like an insurance policy. Whichever members need housing 
and stay there would pay market rent. Once everyone has moved in, the condo 
units could be sold or kept as the buyer prefers, with no further reimbursement 
from the community.

Is this nuts? There are obvious risks - big special assessments, unable to 
sell, etc. - but also potential upside. 

The other issue is getting rid of a lifetime of stuff, but that's a different 
thread. 

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Katie Henry
Heartwood Commons - Tulsa
A senior cohousing community in lively, progressive Tulsa
Construction starting in September!
Reserve your home now!
https://www.facebook.com/HeartwoodCommonsTulsa
https://www.heartwoodcommonstulsa.com/