HAMILTON – Housing cooperatives are popular throughout the country and now Montana is getting one of its own.
The Riverside Crossing Housing Cooperative will be the first of its kind in the state and is reserved for those who are 55 years and older.
Living in a co-op means that instead of purchasing the deed to your home you buy the value of your home from the cooperative.
The co-op assumes the responsibility for maintaining the home, lawn care and appliance maintenance included while the occupant maintains the equity in the property.
The property sits behind the Daly Mansion and the Ravalli City-County Council on Aging in Hamilton. The cottages range in size from just over 680 square feet to 1,800 square feet.
Property owner Paul Travitz said this kind of lifestyle is a valuable opportunity for people who are getting to an age where maintaining a home is difficult but they still hope to keep their independence.
“Say your mom and dad are getting older and they can’t take care of their home. Maybe you don’t want them up in there, up on a ladder cleaning their gutters. This is an option for them,” said Travitz. “We want people to stay in their homes as long as possible.”
Click here for more information about the Riverside Crossing Housing Cooperative.
By Lauren Heiser – MTN News