Co-op Costs

There are two costs: a one-time share payment and a monthly fee.

New members buy a share in our non-profit cooperative, which owns the land, building, and common areas. Each share price is determined by the value of the unit and the amount the original purchaser put down.

The separate monthly member fee covers all costs of operating the cooperative: the principal and interest on the cooperative’s master mortgage, property taxes, building insurance, and all required reserve fund contributions. It also provides for other expenses, including staff salaries, upkeep of common areas, lawn care, snow removal, trash, recycling, and an extensive internet/Wi-Fi/TV package. 

Each home comes with a parking space in the underground heated garage and a separate storage unit. A second parking space can be reserved for an additional monthly fee when available. Members cover their own electricity/natural gas, and telephone service, and are required to carry an HO6 insurance policy.

Tax benefits are similar to those of a single-family home. The real estate taxes and mortgage Interest payments associated with the monthly fee are tax-deductible.