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reSpace Buyers own through Co-Homeownership, a shared property model. Each buyer has a private suite within the home and shares common areas like the kitchen, living room, and outdoor spaces. This allows buyers to enjoy the benefits of homeownership in desirable locations at a fraction of the cost, making it a great option for those priced out of traditional homeownership in high-demand areas.

As a reSpace Co-Homeowner, you have exclusive ownership and use of your private suite, typically including a bedroom, bathroom, walk-in closet, wet bar or coffee station, and en suite laundry.

You also share access to beautifully designed common areas, including:

• Living & Dining Room: Fully furnished with designer-selected furnishings.
• Kitchen: High-end stainless appliances, a six-burner gas stove with hood, granite countertops, tile backsplash, designer fixtures, pendant lighting, and bar stools.
• Pantry: Walk-in pantry with custom cabinetry and ample storage.
  Outdoor Spaces: Landscaped gathering areas for relaxation and community connection.
• Parking: Options for dedicated parking spaces, often with EV charging availability.

Absolutely! Co-Homeowners may sell their share at any time, independent of other Co-Homeowners.  They can either sell if FSBO, or call their broker and list it for sale.  Before they accept an offer, they have to give their other co-homeowners a chance to buy it at the same term.

As a reSpace buyer, you have several options, similar to traditional home purchases. You can pay in full or use reSpace’s competitive in-house financing.  No large down payment required, just a one-time reSpace membership fee and low monthly mortgage payment.  All in, your cost to own will be equal to, or less than, the cost of renting a new one bedroom apartment in the same area.  …Think what you’d pay for first, last and deposit, and your monthly rent…for what it would have cost you to rent, you can now OWN your home in the neighborhoods where you really want to live

Buyers don’t need perfect credit but should meet traditional creditworthiness standards, including credit scores and debt-to-income ratios. Our reSpace Concierge Team can assist with the pre-qualification process.

Yes, each suite may have up to two individuals, and friends and family can purchase suites in the same home. In fact, we find many people already know who they want their Co-Homeowners to be.  Additionally, they can sell their suite independently. This allows for privacy in individual suites and a sense of community in shared spaces—making the dream of owning with friends a reality.

dreams of owning a friends a reality with reSpace.

The mortgage payment and HOA dues cover principle, interest, property taxes, and insurance; professional house cleaning in the common areas, landscaping and grounds maintenance, reserves for repairs, handyman services, and professional management. However, personal items of value, like jewelry, should be insured separately, and utilities are not included.

Utility costs are submetered, when possible, and each Co-Homeowner pays for their usage.  When not possible, utility costs are billed to the reSpace Ownership Group and divided proportionately by the square footage and occupancy of each Co-Homeownership suite.

Cleaning services and landscaping typically occur every two weeks, or as needed. The frequency of these services can be adjusted based on Co-Homeowner preferences, which may affect HOA dues.

Property expenses, including property taxes, insurance, and maintenance costs, are divided among the Co-Homeowners based on their proportional share. Each owner’s share of the expenses correlates with the portion of the property they own, ensuring a fair distribution of costs. This approach ensures that all Co-Homeowners contribute proportionally to the upkeep and management of the property, maintaining its quality and value.

While owners can help manage costs like landscaping and cleaning by adjusting service frequency or practicing responsible care, some costs, such as property taxes and insurance, are beyond our control. As a result, HOA dues may change over time based on actual expenses.

House rules (including ways of changing the house rules) are outlined in the reSpace Co-Homeownership Agreement. Generally speaking, decision-making is based on ownership percentages, with deadlocks being resolved by the management company. There is provision in the reSpace Co-Homeownership Agreement for the owners to replace the management company.

The reSpace Co-Homeownership Agreement sets clear guidelines for the fair use of common areas and outlines the consequences if rules are broken. The professional management team is responsible for enforcing the agreement and helping ensure that the home stays respectful, harmonious, and enjoyable for all co-homeowners.

The private suites are unfurnished. They are your canvas to create your own personal space.

Furnished common spaces include practical and stylish items provided for everyday use, such as couches, dining tables, and kitchen essentials like pots and pans. While they may reflect the home’s staged look, these furnishings are meant to be functional and enjoyed by all Co-Homeowners.

Common areas come fully furnished and professionally decorated by reSpace. If you’d like to add additional items or décor, you’ll need approval from the other Co-Homeowners and must follow the guidelines in the reSpace Co-Homeownership Agreement.