Frequently Asked Questions
Where will the cohousing community be located?
In the Irvington District of Fremont, California
How big will it be?
We are targeting 20-30 households, which experienced cohousing communities widely regard to be the most efficient number of people—and enough to keep costs reasonable.
Is this considered “affordable housing”?
This is market-rate housing. However, the extensive shared amenities often result in savings for residents in ongoing cost of living.
Will future residents make an investment before the neighborhood is actually built?
Yes. The amount depends greatly on the site we find, the terms of sale, and the number of participating households. Once we secure a site, it will be easier to estimate costs for initial deposit and incremental payments for design, engineering, project management, administration and legal expense, etc. These investments will be applied to each household’s eventual purchase of its residence.
Will I have to come up with money for construction before I sell my current home?
Once planning approvals are in place, our plan is for Mission Peak Cohousing to secure a construction loan. Then after construction, when each household actually purchases its own residence, the proceeds will be used to pay off the construction loan.
What will homes cost?
A lot depends on our site and the decisions we make during the design process. What do we want to include in our common house? Guest rooms? A laundry room? A workshop? A playroom? A media room? And what variety of dwelling sizes do we want? Very, very preliminarily—based on assumptions about a lot of things we don’t know yet—we are targeting a range from $550,000 to $920,000. This price includes ownership of (A) an individual living unit and (B) a share in the common house, gardens, and other community spaces. We predict that the extent of the shared amenities will mean most people will choose to maintain less square footage in their own homes. The earlier you get involved, the greater input you can have on these decisions.
Will there be monthly fees?
Yes. This will be structured as a self-managed condo association, and we will want to set a homeowners fee to support and maintain all our shared amenities.
What about resale?
As with any privately owned home, owners identify buyers for their units. Many cohousing communities have waiting lists of people seeking to purchase a unit, and sellers can start with people on the list if they wish. Other members may refer friends as potential buyers, and the national Cohousing Association offers a place to list units for sale on its website. Experience in other cohousing communities has shown that homes have held their value or have appreciated faster than the market as a whole.
Is this like a hippie commune?
No way. The community is neither a shared economy nor a source of income for its members.
What should I do to get involved?
Where can I learn more?