Cohousing-L Mailing List: Re: COHOUSING-L digest 670

[Raines Cohen (coho-L]

cohousing-l [at] freedom.mtn.org <cohousing-l [at] freedom.mtn.org> wrote on 
11/15/98 8:33 AM:

>$246 a MONTH??   Wow. Unless that included property tax, I'd consider 
>that quite high-end

Actually, we're looking at Condo Assn. dues of at least that much 
(adjusted slightly for unit size), in line with other cohousing groups 
and condo associations, based on unit prices of $150K-300K. (we just got 
a proposed Assn. budget from the developer, created by a knowledgeable 
consultant, and are in discussions/negotiations over what's actually 
needed/prudent and what's missing).

In our case, that includes heat and hot water for all units, utilities 
for the common house, power for and replacement of lights all around, and 
maintenance on the common house elevator, but the biggest part is the 
state-mandated reserve fund that assumes, for example, that we have to 
entirely replace our 20-year roof, in full, in 20 years. Yes, highly 
conservative, but also quite prudent and a great way of keeping from 
encountering unexpected mandatory assessments down the road. Interesting 
conservative approach it takes: assume interest = inflation, and factor 
in neither. BTW, no taxes on the common house - each unit is assumed to 
own a share of it and so it factors into the total unit value for sale 
and tax purposes.

Raines (taking advantage of the urban milieu: heading off this AM to 
brunch with the Swan's web team at the Happy Belly Cafe at Jack London 
Village, then stopping at the year-round farmer's market at Jack London 
Square, followed by a regular group meeting at the hotel across the 
street from our site, and then a group visit to the Circus Chimera ... 
all within walking/biking distance!)



Raines Cohen <coho-L [at] raines.com> <http://www.swansway.com>
Member, Swans Market Cohousing - Old Oakland neighborhood, CA
Our construction loan/investment finally in escrow this week;
Demolition complete; foundation well along; Occupancy Fall '99