A New Housing Option for Active Adults (62+) is Coming to Longmont
LONGMONT, CO, 80501, July 16, 2019 /EINPresswire.com/ — A New Housing Option for Active Adults (62+) is Coming to Longmont
When Real Estate Equities Development looks to develop a new Village Cooperative housing community for active adults, they carefully select the area using a whole host of data points. But these communities don’t serve data points, they serve real people. That’s why they are so excited about their Longmont community that is currently under construction.
So, what is a senior cooperative? This housing option lives very different from a single-family home, townhouse, condo or assisted living community. When people decide to live here, they’re not only wanting to get rid of the oversized house that doesn’t live comfortably any longer, but also to live better, to have closer ties to their neighbors and families, and to have the little luxuries they deserve.
The Village Cooperative of Longmont offers a unique building design, management style, and ownership structure. Instead of purchasing a unit for $400,000 or more—the going price of age-restricted patio homes in the area—Village Cooperative residents purchase an equity share, typically around $150,000 and then a monthly share of the operating expenses of about $1,500 (based on the size and location of the home) that covers maintenance outside and inside the homes, including replacing your light bulbs.
Residents (aka “members”) own their own building in common through a not-for-profit corporation and share ownership that appreciates at a fixed 3% per year until they leave. Re-selling of their home is facilitated by the Cooperative and eliminates the time-consuming and expensive process that are the hallmarks of traditional real estate transactions.
“We were looking for a maintenance-free lifestyle with an affordable price, spacious living areas, and great amenities. We wanted to live in an active senior community that was close to shopping, restaurants and other activities. We found all of this and more at the Village Cooperative of Longmont. The pricing was reasonable and we also have ownership benefits, including a return on our investment,” say members Carolyn and Hal D.
Their equity share provides that return on investment and keeps equity share values very reasonable for future buyers, which is another reason there are waitlists at each operating Village Cooperative. In addition, members are eligible for the same tax benefits as traditional homeownership but without the headaches of maintenance and repair bills.
While it’s not a new concept, it is new to Colorado. In fact, senior cooperatives have been around for over 40 years, primarily found throughout the Midwest. Real Estate Equities Development, LLC, is the development company behind the Village Cooperative. With 35 locations either operating, under construction or planned for construction in the coming year—including seven locations in Colorado—they are a national leader and believe this is the best option available with all the amenities and at such a great value.
This exciting new Longmont community will include 52 homes in one bedroom, two bedrooms and two bedrooms with den designs built specifically for seniors and retirees. Members choose from several unique and spacious home styles and choose their home’s finishes if reserved early. The homes range in size from approximately 900 sq. ft. to over 1,500 sq. ft. of one-level living space within a safe and secure three-story building.
Standard features of this living community include a club room, reading areas, community area with full kitchen, woodworking shop, fitness room, guest suite, garden plots, while-you’re-away services, underground heated parking with a car wash bay—all wrapped up in a fully secure building. The homes are equipped with all appliances including a washer and dryer, in-home storage, walk-in closets, and individually controlled HVAC systems.
Hal D. adds, “We consider the Village Cooperative a first-class organization and we are looking forward to moving in.”
Contact Pam Ogden today (720) 600-6900 to schedule a personal appointment and get more details.
Visit VillageCooperative.com for additional information.
SALES OFFICE: 2100 Main Street, Suite 200, Longmont, CO 80501 (Great Western Bank building – north side)
+1 (720) 600-6900
email us here
Source: EIN Presswire