Most co-housing communities start at the emotional-social level vs the architectural level. Everything matters from treading lightly on the land, positioning building for maximum community interaction. Often the houses face each other with sidewalks and open space with parking on the peripheral. Maintaining the privacy of home vs the sense of community and togetherness are keys to success. It is the balance between social time and alone time and respecting it that creates harmony and success.
Co-housing units are usually harder to exit and also might charge a ‘flip tax’ if there is a sale within a designated period time. Renting and subleasing are also discouraged or prevented in many co-housing communities.
It is turning out that many of the co housing communities were not built with aging in mind. As one ages it is difficult to participate in workdays for example, or social isolation sets in.
The origin of intentional communities is in Denmark during the 1960s. Essentially it is resident participation and design of their community. It appears that privacy and individualism become a sticking point because of the close involvement of people in one another’s lives, respecting privacy and avoiding backbiting are some of the issues.
Co-housing communities are popping up around the country. Nearly every state has at least one. Learn more how this concept of community living is meeting changing needs of an aging population.
Here is a list of 58 questions to help answer the legal, financial and some aspects of co-housing living arrangement concerns.
It is easier to find out how to invest your money through an IRA than it does on how much and when to withdraw money upon retirement. Let’s say you are 70 1/2 and with $100K in an IRA, according to the IRS your life expectancy is at 27.4 years. You would divide your IRA total $100K by 27.4 and have an amount of $3,650 that at some point during the year you would have to withdraw, this works out to about $305 per month.