Is a Housing Co-op Right For Me?
There are many unique benefits to being a member of a co-op. Imagine a living arrangement where your financial investment not only secures a home but also a community. Co-op housing might be the perfect fit for you if you value community connection and shared responsibility. In this model, residents collectively own and manage their building, giving each member a stake in the property and land. By purchasing shares in the co-op you become a part owner with a voice in decisions and a hand in creating a welcoming environment. Enjoy the advantages of lower housing costs and the enriching experience of a tight-knit community where everyone works together for the common good.
Ownership in the co-op is an investment in your future and your community. Here’s how:
-
Lower cost of homeownership: enjoy reduced housing costs and minimal closing expenses.
-
Affordable entry: with unit share prices from $53,000 to $92,000 you have an affordable path to home ownership.
-
Stable costs: mortgage cost increases are capped ensuring affordability for future homeowners.
-
Financing Support: benefit from share financing options provided by Verity Credit Union.
-
Equity growth: homeownership allows you to build future wealth for you and your family.
-
Community Investment: your investment supports a sustainable and inclusive solution for future buyers.
Affordable Living With Lasting Benefits
As an owner at U-lex, you'll play a vital role in fostering a strong sense of community with your neighbors. Everyone shares responsibility and a vested interest in the building and the well-being of the entire community.
The co-op is managed by a board elected by the members. Each household has a voice in major decisions. You'll be part of a community dedicated to creating a sustainable, affordable future.
Building a Future at U-lex
At U-lex, we are committed to ensuring that the opportunity for affordable home ownership extends to future families. To maintain affordability there's a limit on the increase in the value of the shares you own. Should you decide to sell, you'll receive your initial share cost plus a portion of the increase in share value, insuring fairness for both buyer and seller. By moderating resale prices, we ensure that qualified buyers can purchase shares at an affordable price. Plus, there's no pressure to sell. You can continue to reside in your unit for as long as you own your shares.