Cohousing-L Mailing List: Re: Development Phase

[Sharon Villines (sharon]

On 20 Sep 2011, at 7:52 AM, S. Kashdan wrote:

> 
> A few of our founding members were generous and trusting enough to provide 
> loans to some other members that made it possible for them to move in and 
> become long-term residents and participate in creating the cohousing 
> community.

This is one of the ways diversity provides advantages to everyone. Those with 
disposable income and savings can help those who have no cushion. Those without 
are helping by stepping up to buy those units and making future commitments. 
One of the problems of purchasing a home is that up-front money. Many 
households don't have it. 

In cohousing there is a greater opportunity for one household to help another 
with private loans. Today it is easier (I think) to get mortgages in cohousing 
than it was in the 1990s, but people still have to have the contract deposit 
and downpayment. The contract deposit is required every early in the process. 
People who own their own homes will have all their money tied up until they 
sell. This is a chicken and egg problem that few have to face when they buy 
homes that are already built.

When people talk about a low-income cohousing community, this is one advantage 
that is lacking. Those with higher incomes who can facilitate purchases. One 
solution would be for a current cohousing community to facilitate a low-income 
community the way some facilitate affordable units in their current communities.

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