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

[David Heimann (heimann]

Hello,

	With all these reports about a premium assessment of cohousing 
units, I'd like to mention a different perspective.  My unit at JP 
Cohousing, and as far as I know practically all of the other units, was 
appraised at just about equal to the selling price, which in turn was in 
the midrange of selling prices for similar-sized condos in Jamaica Plain.

	In fact, many discussions on this list and comments from various 
cohousing professionals have said this; that cohousing is not a way to 
build and buy housing for a bargain, but rather it tends to come out 
costing similarly as comparable housing.  Our experience bears this out.

Regards,
David Heimann
JP Cohousing
where we've spent a wonderful summer and early fall and are now battening 
down for our first winter


----- Original Message -----
Date: Thu, 17 Nov 2005 13:12:19 -0500
From: "Robert" <robert [at] enocommons.org>
Subject: Re: [C-L]_ Home price for cohousing,   over price of
        surrounding comparable houses
To: "Cohousing-L" <cohousing-l [at] cohousing.org>
Message-ID: <02bf01c5eba2$a8c1ce30$6409a8c0@T40p>
Content-Type: text/plain;       charset="iso-8859-1"

Becky,

I believe that part of the answer may be how many units can spread the 
cost of the common area (common land, Common House, infrastructure).  Eno 
Commons, 22 units, had a higher premium.  I believe it was about 21% for 
the small lots and about 27% for the large lots.

As 22 units is on the smallish side of the cohousing spectrum, I guess if 
you have more units, the common carrying cost would be less.

Good luck!

-Robert Heinich
 Eno Commons Cohousing
 Durham, NC
 where we will have Leftovers Movie Night in the Common House West Wing 
the day after Thanksgiving


----- Original Message -----
From: "Becky Weaver" <beckyweaver [at] swbell.net>
To: <cohousing-l [at] cohousing.org>
Sent: Wednesday, November 16, 2005 1:34 PM
Subject: [C-L]_ Home price for cohousing,over price of surrounding comparable 
houses


> Hi all,
>
> My group (Central Austin Cohousing) has been working under an assumption 
> that the initial price (i.e. not resale price) of a cohousing home will 
> be about 10 - 15% higher than the price for a comparable (same square 
> footage & construction quality) home nearby. In other words, we have 
> been assuming that the price for the common facilities and other 
> cohousing-specific costs average 10 - 15% per home.
>
> My question is, what was that ratio for your community?
>
> My goal is to get a handle on we should expect, and what we should aim 
> for, in terms of development costs/home prices.
>
> Thanks,
>
> Becky
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