Cohousing-L Mailing List: Re: resale of cohousing untis during down markets

[Sharon Villines (sharon]

On May 10, 2005, at 6:00 PM, email4len wrote:
> That's interesting that you say co-housing property values in good
> markets tend to do better than conventional. I was imaginaing that the
> opposite was true unless you had a waiting list which I think is
> rather unusual. In six years my cohousing appreciation has been less
> than half at best, compared to my local market. It must vary in
> different markets and how efficiently you construct in the beginning.
> We always advised people to not buy cohousing as an investment but for
> the lifestyle only.

I think this is very market dependent and greatly determined by whether 
you built to market to begin with . If your units were more expensive, 
then they won't appreciate as quickly as surrounding homes. Rob 
Sandelin has mentioned this in his community with homes that were 
fitted with much technology and fine finishing that people won't pay 
extra for. In rural areas, there may not be enough people willing to 
move out that far.

In DC, our units have more than doubled in price in less than 5 years 
but the market has done the same. We are at market rate. We do have a 
waiting list and have had no problem selling units to cohousing 
enthusiasts at the asking price. The new people who have moved in have 
been as or more committed than those who left.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org