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 We expect the homes price to fall between $440k and $460k. We are still waiting on some estimates which may adjust the price and the costs may go down when the construction goes out to bid. Depending on how many units are constructed simultaneously we may gain efficiencies and cost savings. This price includes construction of the home, membership in the community, and an equal undifferentiated share of approximately 83 acres including the orchard, gardens, pond, marsh, and woodlands.
A home of this size in the area on an acre goes for $200-$275,000. New construction of a similar home (excluding cost of land) built with standard building practices (not Green) today would be about $270,000. A home this size or smaller on 50-100 acres goes from $500,000 to $700,000. This is in a rural area, as you move into town prices soar, even for Vermont. Cohousing units tend to be pricier than similar sized homes in their market because of the many common elements including large amounts of land. Our price per square foot comes in at or lower than most communities in the region reflecting our stream lined process.
The purchase of a unit provides for construction of a single family home. You get exclusive use of the land it is on, immediate vicinity, and space in the parking barns. Finally, ownership includes an equal undifferentiated share of Sweet Pond Eco Community. This means both the decision making and responsibility for the community but also the gardens, pond, open space, and vast woodlands. You are buying a home but receiving a lifestyle.
Membership in Sweet Pond Eco Community is by self-selection but we do wish to lay out some guidelines. Please review our website and learn about the project, ask any questions you may have or for more information. If you think this might be the place for you, let us know! The next step is coming out to Guilford and seeing just how beautiful it is in person. You can schedule a tour or take one at our open houses which are held every month. At an open house you will also get to meet with other interested and committed members.
At this point if you are interested in moving forward there will be a small refundable deposit reserve your unit. After making the initial deposit you should contact your lender to obtain financing. We are looking to organize a stream-lined mortgage process for community members with a local bank but you can of course self-fund or use the lender of your choice. During this time you and your attorney should review our community documents such as the Declaration of Condominium, Bylaws, Public Offering Statement, and any decisions made to date and be comfortable with them. These are available at meetings, open houses, and by request. The next step is to sign a purchase and sale agreement and make a down payment on the home you have reserved. The final closing on your unit will be when the home is completed and approved for occupancy.
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