Cohousing-L Mailing List: Re: Paying for the common house

[Sharon Villines (sharon]

On Apr 12, 2005, at 1:28 PM, Frank Antonsen wrote:

> We wonder how other cohousing groups have dealt with the issue of
> how to divide the construction costs of the common house between
> the households.

You should have your legal structure in place before you invest large 
sums on land, etc.

If you are structured as a condominium then each household owns a 
percentage share of the common elements. You use the same percentage to 
apportion the costs of all the common elements (parking, lawns, walks, 
etc.).

If you are a lot development model and don't have common elements (is 
this possible?) you would apportion the CH costs equally amongst the 
lots or in some proportion to the number of square feet owned if there 
is a great variation.

It is a great advantage to homeowners to have the commonhouse financed 
and built at the same time as homes because this allows everyone to 
include these costs in their mortgages.

Don't forget to include commonhouse furnishings and equipment in this 
cost. It was a great help to us when we had $40,000 for furnishings 
when we moved in instead of years later.

Sharon
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Sharon Villines
Building Community: A Newsletter on Coops, Condos, Cohousing, and Other 
New Neighborhoods
http://www.buildingcommunitynews.org