Solterra Co-housing Ltd. offers an innovate alternative to shared housing options available to seniors. Our ownership is simple; each owner has an undivided freehold interest in the home and each co-owner is registered as Tenant in Common on the title/deed. Co-owners control all aspects of operating the entire home, and each resident contributes to, and is accountable for household decisions. We have multiple owners on one residential dwelling unit, or some people refer to it as a single family home. Either way, it is one home with multiple co-owners, and each interest is sellable on the open market. “Shared Home Ownership” is growing in popularity, both abroad and throughout North America. At Solterra, we have adapted this concept to the unique requirements of senior citizens, people with disabilities, students, and anyone else who wishes to create an intergenerational home.
Owners each have a private bedroom, sitting room with en suite, and everyone has full access to the common areas of the home. The shared amenities often include a kitchen and dining room, workshops, guest rooms, home office, arts and crafts area, laundry, and more—depending on the design of the home.
Today’s seniors are re-evaluating their priorities, seeking housing options that balance their wish for independence, with an increasing desire or need for day-to-day support. A Solterra shared housing solution provides support similar to an “Assisted Living Facility” combining personal privacy with the advantages of shared resources and community living. Traditionally, residents share the ownership of the home and all relative costs, rather than paying rent. However, there may be rental opportunities within a shared home depending on the decisions of the “House Committee”.
There are various cohousing models (without the hyphen) practiced around the world each a little different based on the ownership component. While they all mirror the original model developed in Denmark, the cohousing models in Canada and the USA are based on the purchase on one large property, and the construction of multiple 30-50 single family homes. There are common buildings used for gathering or congregating a couple of times a week for meals and activities. Ownership is based on a condo agreement, or in western Canada, they refer to condo ownership as a strata agreement.