Cohousing-L Mailing List: Valuation and cohousing

[Peter Scott (ps]

Long title: How valuers get their heads around cohousing for the first
time.

We are about to embark on unit pricing, and the great common cost share
debate. From the literature it seems that there are bank funding
constraints on common costs arrangements. ie people having difficulty
gaining home mortgages on a unit that values up differently to what its
priced at.

My question is how do bank valuers get their head around cohousing in new
towns / countries?. Are bank valuations still a constraint to unit pricing?

I understand that we can work with these people and explain the benefits of
the common facilities. Our project manager suggests that we ditch the
formulas (eg 0.25 per unit + 0.75 per unit value) and just price them
according to what we can sell. This may be a little difficult to establish
given that the only market that exists is the one that WE have created. How
have other groups approached this.

Regards
--
Peter Scott
Waitakere Eco-Neighbourhood Cohousing Project
Auckland New Zealand
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WENCP website <http://www.cohousing.pl.net/>
EcoVillage and Cohousing Assoc of NZ <http://www.converge.org.nz/evcnz/>