Cohousing-L Mailing List: RE: Cohousing Costs and Budgets

[Rob Sandelin (robsan]

>I'm looking for estimates or information (privately or on the coho
>network) of what sorts of costs your project had up to the point of
>negotiation at P&S as well as how you spread those costs among your
>members.  That is, how much of your total house cost did you all put in
>in this phase.?  Did you share costs equally or in some other way?

>I'm also interested in costs for the next phase--from P&S to actually
>owning the land, too, if anyone has that data.

At Sharingwood, the original purchase cost, planning costs, and all the 
costs up to and including the rezone and development permit were 
carried by 1 individual.  Later, as the property went from private 
ownership to corporate ownership she was given 10 of the 18 "shares" 
which represented future homesites.  She then sold those shares to 
those who came later, and out of her own volition, sold the shares at 
what they cost with no profit.

Once shares were set up,  the future costs were equally divided by 18, 
one per share.  Of course the original investor had to pay on each 
share, but these costs of each share were added to the selling price of 
the shares,which much  later became titled lots.  So for example those 
who bought a share early paid about $25,000 for a lot.  Those who 
bought later, after the legal costs, road paving, surveying etc. paid 
$40,000 or so for a lot.

So in Sharingwoods case, one person took all the original  financial 
risk and burden  and then was later repaid financially.  No doubt 
unique in the cohousing world, but not uncommon in the Intentional 
Community world where communities are founded by a visionary.

I know of other groups (Puget Ridge, Nyland) where the original 
financial burdens were unequally divided so a few members invested very 
large sums and others invested much more modest sums.  This seems to be 
a pretty typical case.  Folks for example who have lots of home equity, 
cash that in to forward the capital of the group.  Those who do not, 
can't and don't and that is OK also.  Also some groups have used 
outside investors, such as parents, as partners.

Rob Sandelin
Sharingwood