Are cohousing homes more affordable than other types of housing?
At this point, no. Land, site development, construction, consultants, and financing costs are similar in any new development. Our cohousing homes are comparably priced with other single family and attached houses in the area. How is the community managed? Residents will manage the community through a homeowner’s association. Residents will form committees to carry out the work, much like we do now. What about sweat equity? Can it save a lot of money? In most cases, it is not financially beneficial for residents to do much building themselves. Construction schedules as well as insurance requirements can make resident labor impractical. What has been the response of planners and city officials? The town of Charlotte has demonstrated an openness to working with us. We are working with the town to meet the criteria for preliminary subdivision approval. What about pets? Pet owners are responsible for keeping their pets away from people who have debilitating allergies or other reasons for wa
Some cohousing homes incorporate approaches to maximize affordability but so far, most homes tend to be comparably priced with other homes in the area. However, on-going costs tend to be less than in a typical home. Reduced living expenses result from living collaboratively. For example, community meals can save money, as can other practices such as energy-efficient design and building, or commonly-owned equipment, such as lawn mowers, car pools, group purchases, child care, etc.
Affordability varies. Some cohousing neighborhoods now incorporate approaches to maximize affordability, but most often construction, consultants and financing costs are similar to those in any new development. Cohousing homes tend to be comparably priced with other single-family houses, townhouses or condominiums in the area. In addition to your new home, however, you also will benefit from a custom-designed neighborhood and extensive common facilities, as well as ongoing costs that tend to be less than in a typical U.S. home. Reduced living expenses result from living collaboratively. For example, optional community meals several times a week can save money, as can other practices such as energy-efficient design and building, or commonly owned equipment such as one lawnmower per neighborhood. Driving expenses tend to be lower because many social activities occur in the neighborhood and carpooling is common. Residents also often make group purchases of food and home maintenance items,
At this point, not typically. Land, construction, consultant, and financing costs are similar in any new development. Residents can save money by doing their own landscaping or taking on some development tasks. However, they may incur extra expenses owing to a more lengthy design and approvals process, a high level of customization, or any of numerous possible delays or setbacks. Without some type of outside subsidies, cohousing homes are usually comparably priced with other homes in the area.
