If you like what you’ve seen here, and you want to find more about cohousing and buying a property, please see the steps you need to take outlined below. Currently all remaining properties are reserved. Please contact us for additional information on how to join our waiting list. You cannot be a member unless you live on in the development.
To join and reserve a property you need to:
- See Savills website for all available properties and ensure that you are “purchase ready”.
- Meet us one to one or come to an event, a meeting, or a social.
- Ensure you know what cohousing entails.
- Understand your obligations as a Member of our company, Cambridge Cohousing Ltd, and agree to be bound by the Articles of Association.
- Ensure you understand the financial commitments (see below).
- Contact Jess O’Sullivan at Savills for the reservation process for your selected property.
- Please note that you cannot become a member unless you are able to reserve an available property.
The financial commitment:
Our company, Cambridge Cohousing Ltd has contracted professional support (legal and project management services) to help us progress the project, at a cost of around £51,000. All members who reserve a property are required to pay their share of these costs, along with the cost of fitting out the Common House Kitchen. The amount is set by the board of directors of CCL, informed by a consensus decision by members. It stands at £2100 per property.
This investment is non-refundable and incorporated into the price of the property you reserve.
- The CCL the membership fee is £250 per household and forms part of your £1250 property reservation fee. The membership fee gives you ONE Directors vote per household.
- To reserve a property at K1 Marmalade Lane you will be required to pay the reservation/membership fee of £1250 to Savills, followed by a 10% deposit on exchange of contracts generally four weeks after reservation. Balance on the completion date, estimated to be 31st August 2018 (subject to change). Both the £1000 portion of the reservation fee and the deposit are deducted from the agreed sale price of the home.
- Before moving in, all members will be billed for the first year’s service charge in advance. This will comprise of a portion for all households (around ££350-£400pa) and an additional portion for the leasehold households which covers the building insurance for leasehold properties (around £450-£500pa). In addition a £1000 (estimate) will be required in the first year only. This is to equip and furnish the common house and other communal areas.
- Don’t forget to budget for stamp duty on your chosen property.
Please contact us if you have any questions.