Cohousing: A Better Alternative to the Single-Family Residence and a 30-Year Mortgage

Cohousing: A Better Alternative to the Single-Family Residence and a 30-Year Mortgage

#Cohousing is gaining popularity as a more #sustainable and community-oriented form of #housing.

Unlike traditional single-family homes (#SFRs), which typically come with a 30-year mortgage, cohousing communities offer a more affordable, social, and environmentally conscious way of living.

One of the main advantages of cohousing is affordability.

By sharing common spaces and resources, residents can significantly reduce their monthly expenses, freeing up more money for other priorities. Residents can connect with their neighbors on a deeper level and build a sense of belonging and interdependence across generations.

In comparison to the 30-year mortgage on an SFR, cohousing offers a more flexible and customizable housing option.

Cohousing is not a condominium. It is cooperative, so you are buying shares in a corporation.

Residents can still qualify to be part of a community if they don’t have 20% or more to put down on a property.

Cohousing can offer additional savings through financial instruments and incentives:

- Community Loan Funds — Fund members may have additional capital to invest to allow members of the cooperative get the assistance they need.

- Tax Credits — Because of the non-profit nature of a coop, cohousing can qualify for additional tax credits that a traditional SFR would not.

- Closing costs are cheaper since you aren’t required to obtain title insurance for your individual unit.

If you, your parents, or other family members are looking for alternatives to traditional housing that saves costs and solves loneliness, post a comment.

Our team has identified a property to propose cohousing using an adaptive reuse framework on an old church in Southern California.

If our math is correct, we will produce 20–24 units at 65–70% of the cost of traditional housing in a middle/high-income area near the water.

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