Building costs are comparable to what you would pay for a similar but slightly larger unit in Ottawa. What you lose in the size of your own unit, you gain in generous common spaces and community living. The real savings are realized after move-in with an increase in disposable income of $200-1000 per month due to sharing of common resources (e.g. Cars, care providers, etc.) and the natural things people do for each other rather than having to pay a stranger for them.
HOW MUCH DOES IT COST?
When a unit is sold, it's sold on the open market, but the group decides in its by-laws any conditions for resale or transfer of property.
WHAT ABOUT RESALE OR TRANSFER OF PROPERTY?
Legal organization and shared liabilities requires the group to pool equity and form a limited liability corporation with by-laws that include provisions for the group’s general intentions; membership requirements; financial liability; legal representation for the group; members leaving the group; settling financial accounts when someone withdraws; amendment procedures; and more. There are generally three stages at which legal agreements need to be drawn up. Standard agreements that are tried, tested and proven with existing cohousing communities over the past 25 years provide solid guidance.
WHAT IS THE LEGAL STRUCTURE?
Aging in place is a life style concept commonly used for seniors and retired individuals defined as “the ability to live in one's own home and community safely, independently, and comfortably, regardless of age, income, or ability level”.
WHAT DOES "AGING IN PLACE" MEAN?
For more frequently asked questions about cohousing, visit the Canadian Cohousing Network.
Co-housing is an intentional community of private homes clustered around shared space. Each home (townhouse or apartment) will be self sufficient, with living, dining, kitchen, bath and bedrooms. Shared spaces will include a large kitchen and dining area, laundry, bike room, recreational spaces and underground parking. Shared outdoor space will include walkways, open space and gardens. Neighbors will share resources like tools and lawnmowers.