Cohousing-L Mailing List: Re: co-buying (was Use of shared equity ownership in Cohousing?)

[Chuck Harrison (cfharr]

The gocobuy site seems to be handholding for split-ownership home buyers.
My romantic partner and I bought our current cohousing unit as split owners
and none of the real estate or mortgage professionals batted an eye. I
didn't realize you need a consultant to do this! (P.S. we later got married
and are raising a 5-year old now.)

In my mind the OP was looking for arrangements where persons with limited
wealth can have full occupancy but fractional equity ownership. Maybe the
HOA, or a different legal entity set up for the purpose, holds the
remaining equity fraction? You can have community land trusts, maybe
community housing trusts? Definitely outside my wheelhouse but would love
to watch this conversation continue.

Chuck

On Tue, May 17, 2022 at 11:45 PM Grace Kim <grace [at] schemataworkshop.com>
wrote:

> @ Gary Hellenga, Bozeman Cohousing
>
>
>
> Re: Our community is considering some form of shared equity ownership, to
> assist members who may need help with home prices rising so rapidly.  We
> would like to hear from any other community that has implemented a shared
> equity approach, or has looked into it!
>
>
>
>
>
> Sunnyside Village in Marysville is encouraging this.  Not sure if they
> have anyone committed.
>
> But here is a site that is supposedly trying to help buyers streamline the
> process.
>
> https://www.gocobuy.com/cobuyer-stories
>
>
>
> Hope you are able to do this.
>
>
>
> grace h. kim faia | schemata workshop, inc.
>
> principal
>
> pronouns: she/her
>
>
>
> 1720 12th avenue
>
> seattle wa 98122
>
> p 206.285.1589   c 206.795.2470
>
> schemataworkshop.com
>
>
>
> Watch my TED talk at TED.com
>
>
>
> Schemata Workshop employees are working remotely given the current public
> health situation.
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>
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