Investment in Shares Calculation Worksheet

For the first part of the project group members purchase shares in the development company. The price of the shares changes over time based on the risk on the project, and the minimum share purchase is $50,000 to become an equity member.

Investment Phase Amount Invested Share Price # Shares
Land Purchase
Initial Design
Detailed Design 66,667
Construction 117,647
Total Invested: $150,000   184,314

Home Purchase Price Scenario

Illustrative purposes only‐not an offering for sale or financing. East Van Cohousing is an opportunity to invest in a real-estate development project.

The following calculations are intended to be relative and approximate. You should consult with a mortgage broker or bank to get information tailored to your specific situation.

We reccommend Lysa Dixon as a mortgage broker who is also knowledable about cohousing.

Unit Price Calculation Studio
1 Bath
450 s.f.
Unit base price $584,550 At this stage we don't have a complete design or estimate from a builder so this is an educated guess, also known as a class D estimate.
... Per Square foot $1299 psf You can use the price per square foot to see the price is simlar to other
projects in area.
Add GST $29,228
Purchase Price $613,778
Less estimated GST Rebate $0 Normally this is 0.
Add Property Transfer Tax $10,276
Add Purchase Legal Costs
Add Appraisal $450
Add Title Insurance $250
Total Closing Costs $12,976 A lender is going to want to see that you have that available on top of your down payment, before they will give you financing. This does not count as your downpayment, but as extra costs.
Total funds required $626,753 This includes the price of the unit and closing costs at completion.
Mortgage Estimation
Mortgage Rate 5.5%
Mortgage Amortization 25 years
Effective Down Payment 27.9%
Purchase Price $626,753
Less Payments and Credits $184,314
Add CMHC Fees $0
Mortgage Amount $442,439
Monthly Mortgage Payment $2,749
We have the expectation that you talk to a lender or mortgage broker and get a pre-qualification to assess what kind of unit you can afford. People are often surpurised at how income is determined and ther are a host of other factors that will affect your individual situation.
Monthly Expenses
Mortgage Payment $2,749
Strata Fee $251
Utilities $251
Property Taxes $145
Total Monthly Cost $3,145

Note that the strata fee includes:

  1. Building insurance
  2. Water, sewer, garbage and recycling
  3. Building maintenance and major repairs
  4. Heating for common areas
  5. Janitorial and Landscaping
  6. Hot water

Mortgage Qualification
Mortgage Qualifying Rate 7.5%
Income to qualify per CMHC guidelines $124,036 Based on 32% GDS Ratio.
(1) Assumes no other debt.
(2) This is complicated, talk to a mortgage broker or lender.