What Would It Cost to Buy a Home in Green Grove Cohousing Community?*

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What would it cost to buy a home in Green Grove Cohousing Community?* Green Grove is unusual in its size (limited to 9 homes), its quantity of shared amenities and its development structure. Member households each own a 1/9th share of the five acres and the shared amenities which include: - 3,700+ sq.ft. high-quality geothermally heated & cooled common house w/ solar electricity, large dining room, guest bedrooms and studio space - Large community wood-working studio and outbuilding - 250 sq. ft. carport/storage unit with green roof for each household - Rainwater catchment system & cistern for irrigation - Cedar gazebo and playhouse - Mature trees, orchard , vegetable garden, chicken coop, landscaping plus open land for expanding permaculture garden (Note that these amenities are far more extensive than most cohousing communities) Each member household can purchase an existing home, purchase a home under construction, or purchase a lot and develop their own design in collaboration with Green Grove’s designated contractor. Current prices for homes range from $450,000 to $540,000. This includes the land and all the amenities listed above. Financing is secured by the purchaser. We have identified a preferred lender who can assist members with this process. There are loan fees and closing costs which depend on the size of the loan. The title company charges fees for handling certain aspects of the transaction which vary depending on individual circumstances. Purchase of a buildable lot, and 1/9th of the 5 acres and shared amenities is $150,000 ($175,00 for Mt. Hood view lot). Custom designs are very welcome but costs to design, engineer and build from scratch will likely be higher than purchasing an existing home. Designs are subject to review by Green Grove’s Design Review committee and must comply with our architectural standards. Households would then contract with our green builder to construct their free-standing high-performance energy-efficient home, on their own lot, ranging from 900-1400sq. ft. of conditioned interior space. The smaller a home is, usually the greater the costs per square foot because kitchens and baths are the most expensive elements. However, though high performance green construction is more costly to build, it will create long-term savings on utility bills. .

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