Buying & Selling a Cooperative: Maximize Your Senior Housing Investment
October 23, 2024The next chapter in your retirement journey means so much more than simply finding a “place to live.” Rather, it’s a once-in-a-lifetime opportunity to meet your people, engage in an ideal lifestyle and relocate to a walkable community where members call the shots.
When deciphering your top picks among a sea of housing options, a senior co-op is the right answer if you’re seeking a new, tried-and-true social network and a place to let your voice be heard — for co-op governance as a whole, as well as hobby- or interest-based clubs.
As a valued member of community cooperatives, explore the many ways to get as involved as you want.
So, What Is a Senior Co-Op?
Simply defined, it’s a place where members ages 55+ or 62+, depending on the location, collectively own and control the community cooperatives where they reside.
Members buy a share in the management corporation, which owns the land, buildings and common areas. They also receive the exclusive right to occupy and own a private residence.
While there’s a member-elected board of directors and professional management team on site to direct and assist ongoing operations, those who live in senior co-ops reap several advantages as the true “activity directors” of the community, along with:
- Financial advantages similar to traditional homeownership
- Membership in a like-minded community with like-minded folks
- Maintenance-free living, where community upkeep is covered (and you can say goodbye to lawn-mowing and show-shoveling)
- Equity options crafted to fit your price point
Now, let’s take a look at the critical role members play in community happenings.
Stay Involved in Community-Wide Decisions
Whether it’s sharing laughter with friends, volunteering as a group or spending quality time with family, members come together in meaningful ways to forge meaningful relationships. Artessa’s next-level cooperative communities put you and your neighbors in control of your lifestyle.
This gives you a say in things like…
- Cooperative Upkeep: Whether you have a new community landscaping idea or noticed the pickleball court could use some sweeping, the on-site management team will work with you and your neighbors to make it happen.
- Renovations: Maybe you think another TV in the entertainment area would be a good investment, or the courtyard grill has been unpredictable lately. We work swiftly to ensure the community you’re proud to call home meets your wants and needs — and stays in tip-top shape year-round.
- Policies: From security and operations to the rules governing the senior co-op, members are the core decision-makers for the community’s safety, sustainability and setup.
Engage in Member-Run Committees
There’s no shortage of ways to get involved, meet new people and let your voice be heard — for the most outgoing members and the more “to themselves” alike.
Some member-run committees and clubs encompass essential core pillars for maintaining quality, operations and security. Others form and grow organically out of genuine interests, which is where the real co-op magic happens.
Have a talent? Here, you’re encouraged to share it!
Help your neighbors learn a foreign language, pass on your birdwatching skills, host an art class, or show friends how to land a foolproof birdie. Whichever hobby you’re into, Artessa community cooperatives make it easy to find others who are into it, too.
Here are just a few groups our members have formed in the past:
- Gardening
- Volunteering
- Arts & Crafts
- Cards
- Golf
- Hiking
- Education
- Fitness
- Security
- Finance
Retreat to Your Private Residence Within the Senior Co-Op
We get it — after a long day of socializing, you might crave some relaxation and alone time. While many people associate community cooperatives with a hostel-like setup, surrounded by (for lack of a better term) roommates 24/7, this is far from the case at Artessa.
In our co-ops, you can be as involved or hands-off as you want to be. Your home, is your space. Yet, we often find that members who are initially reserved start to find a new social circle, form clubs and host their own gatherings within just a few weeks or months.
Artessa’s governing documents also ensure that cooperative homes remain affordable and marketable long-term. What’s more, cooperatives like ours have significantly low unit turnover, plus a waitlist of future members ready to move in, creating a stable community for years to come.
Experience More Autonomy at Artessa Community Cooperatives
Artessa communities give you a say in the things that matter most to you.
Enjoy maintenance-free living, ample amenities, member-led clubs and groups and so much more. Ready to start your next chapter here? Contact the team and find a dynamic senior co-op near you.