Cohousing-L Mailing List: Re: Quantifying the value of community

[Robert Heinich (robert]

cameron rabe wrote "In the process of pricing units has anyone tried to
quantify the value of cohousing?"

Cameron,

The pricing of a house is only loosely determined by an algorithm.   
That is why the prices of houses vary so much in this country.

People are willing to pay a premium if there is a perceived shortage  
of a feature they want.  Here at Eno Commons, we only only two house  
designs, A, 3BR /1486 sq ft, and B, 4 BR / 1976 sq ft.  It has been  
easier to sell the larger B house.  Recently, folks were willing (and  
paid) a premium for the smaller A house ... this was even more amazing  
as this was at a time at the start of falling house market.

Part of the reason why there people were willing to pay for a premium  
was there was a preceived shortage.  There will people who wanted to  
move in but could not as there was no houses available.  Once a House  
A was available and it did not seem likely that there would any other  
houses available, several people bid on the one available house.  The  
price went up several times during the bidding process.

Just a few years earlier, the same house took awhile to sell.

Pacifica, a nearby cohousing development in Carrboro, sold out before  
they started building.

So long as folks put a value on community, cohousing will sell at a premium.

-Robert Heinich
 Eno Commons Cohousing Neighborhood
 www.enocommons.org
 Durham, NC
 where the committees are preparing for the busget party
 and the kids are excited about EnoWeen.