Cohousing-L Mailing List: Re: Home prices for cohousing

[aamato (aamato]

Becky,
We have 43 units and I would say we were, and continue to be, at market rate.  I
think this is because real estate in the Washington DC area is so expensive.
That is to say, we didn't really factor in the additional cost of the common
house into our homes. Since we were developer driven, the developer just sold us
units for whatever the market rate was at the time.  If this had been a less
expensive real estate market, we would indeed have had to buy at a higher rate.
I remember visiting such a cohousing community, and their homes were about 25%
higher than comparable-sized homes in their neighborhood.

There are many who say that cohousing adds value to homes, in purely monetary
terms.  I will go out on a limb here and say I disagree with that opinion for
hot real estate markets.  You could take one of our homes and plop it down in a
standard development  in our area and get the same price.
Anna
Takoma Village
Washington DC


                                                                                
             Becky Weaver                                                       
             <beckyweaver@sw                                                    
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                                     Re: [C-L]_ Home prices for cohousing       
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Thanks everybody for your input. To re-phrase my question, in case it got lost
in the shuffle - there a price "premium" on new cohousing homes, due to
cohousing development costs, over other new homes in the area.

Thinking back to when your community sold its brand-new homes for the first time
around, what was that premium? I saw 21 - 27% for one community, which had 22
homes. Would you say that 25% is more realistic than 10%, for the purposes of
setting expectations in a new development?

I am especially interested in feedback from communities in the 34 - 38 unit
range.

Thanks,

Becky Weaver
Central Austin Cohousing


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