Each member: minimum pension of $2000 per month and $35,000-$45,000 for downpayment, legal and land transfer tax.
,Cooperative housing, also known as a housing co-op, is a type of residential housing where the residents (you and me) own the building collectively. The residents form a corporation and each member owns a share in the corporation, which gives them the right to live there. This means that residents don't own their spot outright, but rather have a share in the entire building. The corporation (which is you and me) manage the building and make decisions about its operation, such as setting monthly cost and making repairs. Coop retirement is far more affordable than anything else, as we share the costs of ownership and maintenance.