Co-ownership in a co-housing home provides an opportunity for family members and friends to assist in providing a supportive housing solution for their loved one. Although the trend in the past has been to provide for aging family members by building a granny suite in the basement of the family home, co-living in a shared home of like-minded seniors may be a healthier solution.
- each co-owner will own 1/6 of the total property
- investing as a co-owner means you will retain an investment in real estate
- individual shares can be re-sold
- with the anticipated growth in the senior’s housing market the demand for co-housing seems promising
- If the resident should pass while living in the home their co-ownership share becomes a part of their estate and can be sold
- Co-owners families can have peace of mind knowing their loved one has ongoing companionship and interactions in a home designed to age in place at Oak Hill while staying actively involved in daily life
- Professional legal advice has been obtained in establishing the Co-ownership Agreement which will be included in the legal documents of the purchase. Co-owners are encouraged to review these documents with their own attorney and to those they look to for advice and support