Ricky McMountain Housing Co-operative Canada.

What is Co-operative Housing?:

It is a type of residential housing where the resident-members own the building collectively and are their own landlords. The resident-members manage the building and make decisions about its operation, such as setting monthly membership cost and making repairs. And you build equity in the house you live in wheras with rent you have zero return. Additionally you must live in the co-operative house and make it your primary residence. You cannot rent it out to anyone.

Benefits of Co-operative housing:

You become your own landlord.
No big yearly membership increases. Ever.
No risk of eviction by N13.
In 5 to 10 years your monthly membership will be $200 or less.
You build equity in your co-op house.
You preserve your money: Your monthly membership builds equity in your own house rather than being forever lost as rent.
Less money than renting.
The value of the house can increase over time, giving you a higher equity stake.
You can travel and not worry about your house. Resident-members look after the house when you are travelling.

The four scenarios you will encounter when buying a house for your co-operative.

All calculations based on a house costing $1,000,000

Scenario 1: real estate agent involved with existing mortgage.

Scenario 2: real estate agent, no existing mortgage.

Scenario 3: Private sale, existing mortgage.

Scenario 4: private sale, no existing mortgage.

Another big advantage

As your monthly expences are far lower, you can buy better food. By cooking together you can easily eat superior full nutrition meals which have many advantages! According to science a superior diet can help you live longer, keep your skin, teeth, and eyes healthy, support your muscles, boost your immunity, strengthen your bones, help reduce weight and lower your risk of heart disease. It can also help you prevent other diseases, boost your mood, and give you the energy you need to grow and repair your body. Science says that people who eat superior diets rich in vegetables and fruits have a significantly lower risk of obesity, heart disease, stroke, diabetes, and certain types of cancer.

Requirements

To become a resident/member/couple in a co-op house you need a minimum pension or salary of about $2000 per month, and money for the deposit, legal and land transfer tax. Amounts depend on the house purchased. This money is only needed when the house is purchased! Seniors also need to be in reasonable health and capable of looking after yourself. Co-op's are not nursing homes.

My name is Richard Hirtle also known as Ricky McMountain and I will be joining one of the co-operatives personally!