The Unique Advantages of Equity Ownership
Springton Lake Village is a small senior housing cooperative owned by the residents and governed by an elected all-resident board of directors. New residents purchase an equity ownership share and belong to the housing association, which manages the Community. There are modest closing costs without the need for title insurance or appraisals.
Equity ownership promotes carefree, maintenance-free living.
The monthly fee covers a range of premier, personalized services, including chef-prepared meals four nights each week, a dedicated wellness coordinator, and concierge services. The Community takes care of two-hour weekly housekeeping, handyperson services, lawn, leaf, and snow removal, and other maintenance services.
Here is how equity ownership works at Springton Lake Village:
- There are no entrance fees.
- The new owner purchases a share in the Community.
- A monthly maintenance fee provides services for each resident and the entire Community.
- The Association maintains every home’s exterior (window washing, lawn, and garden, snow removal, roof repair or replacement, stucco, driveways, etc.) and the interior systems (heating and air conditioning, home security, gas fireplace, and Community shared spaces).
- Group buying power allows the Association to provide services for the whole Community at favorable costs.