May 8, 2024

Envisioning Your Perfect Co-Ownership: What Do You Truly Want?

Co-purchasing offers a spectrum of possibilities for shared living. You and your potential co-purchasers get to decide where you fit on that spectrum and develop your own shared goals for your home. Whether you’re teaming up with friends, family, or even new acquaintances, you have the chance to shape a unique living arrangement that suits everyone.

Regardless of how close your existing relationships are, it’s valuable to pause and reflect on your own expectations for co-purchasing. This is the perfect opportunity to clearly articulate these expectations with your potential co-owners. Recognizing any differences in your vision now—even with close friends or family—will only benefit you in the long run.

Reflecting on Your Co-Ownership Preferences

As you start to form your purchasing group, think about what your ideal model for your shared home could look like. You might want to share everything except bedrooms, creating a vibrant community in common spaces, or you may prefer to have individual private units while sharing ownership of the property. Imagine a spectrum: on one end, fully private units, and on the other, a completely integrated home. Where do you see yourself?

Consider these aspects to help define your co-ownership preferences:

  1. Why are you considering cooperative living?
    • Example: “I want to live in an intentional community with like-minded people, secure a safe and welcoming home, and build my equity together.”
  2. Who do you want to live with, and why?
    • Example: “I’d love to live with eco-conscious individuals. Creating a garden, minding our carbon footprint, and enjoying organic produce together appeals to me.”
  3. What do you hope to share as a household? What activities would you like to do together?
    • Example: “Cooking and gardening would be fantastic. Sharing meals and a love for food while having a private bedroom and bathroom is my ideal setup.”
  4. Do you have needs that cooperative living might fulfill?
    • Example: “Being around people passionate about sustainability makes it easier to reduce my environmental impact. Plus, I enjoy company and sharing financial responsibilities.”
  5. What can’t you live without?
    • Example: “I can’t live without my garden. Growing fruits, vegetables, and herbs for cooking is a must for me!”
  6. What questions would you like to discuss with your co-purchasing group?
    • Example: “How do we handle significant life changes? What are everyone's thoughts on shared furniture and appliances?”

Personal Wants and Dreams

To find compatible co-purchasers, it’s crucial to dive into your own expectations for this exciting venture. Picture this as a creative brainstorming session where you map out your needs, wants, and dreams for your future home. Be as imaginative and detailed as possible. Use the table below to check off and visualize what truly matters to you. This is your moment to sketch out your ideal co-owned home, balancing practicality with aspiration.

Once you’ve completed this exercise, get ready to get creative about co-ownership!

How Do You Establish Your Purchasing Group?

Click on the sections below to learn more.

  1. Kickstarting Your Co-Ownership Adventure: How to Find and Build Your Ideal Home Team
  2. Envisioning Your Perfect Co-Ownership: What Do You Truly Want?
  3. Thinking Outside the Box: Creative Ways to Form Your Co-Ownership Group
  4. Connecting with Co-Owners: How to Find Your Ideal Group
  5. Designing Your Dream Home: How to Sketch Your Ideal Home
  6. Moving Forward Together: Summary and Next Steps for Your Co-Ownership Group