Why Coops?

Financial Security

Home Ownership – Value based, shared ownership in a community with reasonable share prices and monthly fees.

Tax Advantages – Approximately 50–60% of the monthly fee is deductible for mortgage interest and property taxes.

Equity – Low share prices offer flexibility with use of remaining equity from the sale of a home: cash to invest reduces monthly costs, additional savings, ability to purchase investment property, vacation planning or for personal enjoyments, etc.

Limited Equity Concept – Preservation of equity or return on investment, plus appreciation, keeps units affordable over time, and promotes ease of re-sale through established waiting list.

Re-sale – Affordable re-sale procedures. No high real estate transaction fees or closing costs. FHA Master Mortgage has a low interest/fixed rate for 40 years. Future buyers will retain the same benefit.

Reserves – Security of required reserve accounts allows for investment planning and for future building replacements for the cooperative.

Shared Services – Reduce costs to individual owners by negotiating bulk rate discounts for contracted services as a group.

Security in Community

Security – There is safety in numbers—no fear of being home alone or concern about safety and security. Security walks of the building are done by members daily.

Adult Community – There are advantages of living in a community of peers with similar interests. Cooperatives offer a caring, neighborly environment which promotes development of new friendships and support.

Participatory Lifestyle – Socialization and involvement in leisure activities with others enhance enjoyment of life. Catered dinners, card groups, crafts, books clubs, golf groups, exercise groups and special outings are just a few of the activities you might experience in a cooperative.

Personal Health – The participatory nature of a cooperative community enhances the social, mental, emotional, physical and spiritual health of individuals; potentially reducing health care incidents and illnesses, therefore increasing life satisfaction.

Future Planning – ‘What if something happens to me or my spouse?’ Community support, a safe environment and freedom from the worry of maintaining a home also offer a sense of security.

Maintenance Free Living

Simplicity in Maintenance Free Living – General home repairs and maintenance of appliances and heating & cooling units are included and taken care of through a simple work order process. Lawn care, landscaping and snow removal are also included. Ease of Owning a Smaller Home– A larger home can become too much to take care of, while cooperatives limit daily upkeep and housekeeping. Accessibility– We offer one-level floor plans, centrally located elevator, handicapped-accessible common areas and adaptable individual homes.

Worry-Free Traveling – No need to fear leaving your home unattended. Cooperatives offer a complimentary While You’re Away Vacation Service.

Weather Conditions – You don’t have to worry about battling inclement weather. Cooperatives provide heated underground parking, and have internal mail boxes.