NEWS - WHY SAFE:
We take the current situation as an opportunity to explain the special features of this new "ESPADEVIDA-cohousing PLUS" implementation model in much more detail than is usual with an exposé.
In contrast to a normal property purchase, many additional questions naturally arise in this complexity, where it is not only a question of an attractive apartment and building, but also of a long term housing environment quality. As a result of all these questions, we have summarized all the key points that go beyond the scope of a project exposé.
It is by far not just a flat with additional attractive common rooms for a low-cost, privately designed living together of a 50+ generation residential community. Important, additional advantages lie in the special kind of the project realization process. This approach aims to ensure a high degree of security and transparency for serious interested parties during the entire process.
An interested party should therefore not only be able to get an impression of the special features of the housing project, but should also be able to get an idea of the composition of the future neighborhood.
With co-housing projects, according to the ESPADEVIDA co-housing PLUS model, the future residents do not have to pay certain preliminary costs for the project, e.g. planning, searching for a plot of land and then financing it, etc., as is usual with traditional co-housing. This way it is possible to continue and follow the development even in times of crisis, without risk, just with paying the reservation fee.
All interested parties can still secure their apartment in the ESPADEVIDA APARTMENT GALLERY with only 500 € reservation fees. Nevertheless, as if they were buyers, they can actively participate in the construction of the private residential community, as one of the future neighbors or exchange information and suggestions with other interested parties.
An additional financial commitment, beyond this reservation fee, is not required, until shortly before the start of construction. ESPADEVIDA gives you the opportunity to be an active member of the project and you have the status of a purchaser without having paid a substantial amount of money in advance.
You can change your mind at any time before the start of construction.
Even if the negative effects of the crisis continue, the ESPADEVIDA model offers a more stabile establishment procedure. In the following we would like to explain this in more detail.
We are asked all the time why we do not start construction earlier. Of course, just like with traditional co-housing, this would have caused initial costs and early obligations for prospective buyers. In this case it would have been necessary to make an immediate down payment of minimum 10% from the purchase price.
Additional an investor would have to be involved for the overall pre-financing. This would of course have significantly increased the very favorable apartment purchase price.
An ESPADEVIDA model does not require a large and early financial commitment other than the small reservation fee of 500,- €.
Everybody should be able to inform themselves and start to actively create their ambiance as freely as possible without pressure and risk. One must get a feel for the special advantages of co-housing PLUS and the possible future neighbors. Whoever does not feel comfortable can leave the project at any time, even shortly before construction begins.
This is an essential core of an ESPADEVIDA residential home, which is why it differs from traditional co-housing. We have called it co-housing PLUS because of its greater flexibility and lower risk.
Of course, ESPADEVIDA still has the high flexibility that you can freely choose whether you want to join the co-housing group. It is also possible to use only the additional comfort of all common areas and rooms in the Gallery building. You still have the advantage that you can switch to the co-housing club at any time.
Only those who take the time to exchange ideas with their possible future neighbors can make the right decision for a community project to create a living environment that is positively enriching in the long term.
For a faster way, as is usual in standard real estate projects, an investor would have been needed. Nor would this lead to the goal of harmoniously forming a group of 50+ year old in the long term, as is desired in the case of the ESPADEVIDA APARTMENT GALLERY.
The ESPADEVIDA project team is responsible for all pre-financing. Until the start of construction is secured for everyone, this includes the acquisition costs, other preliminary costs and furthermore the services of the ESPADEVIDA marketing team, which has been taken over by Mojacar Estates for the time being.
An ESPADEVIDA community can therefore be build, similar to any private initiated project - very cost-effective, with full transparency and management.
From the start of construction to completion, everyone is fully covered by a guarantee or insurance from the construction company - in accordance with the current, strict legal regulations in Spain. Before that, no company can start a new building project in Spain anymore.
The current, solid situation is as follows:
> The land has been bought and paid for by the ESPADEVIDA project team (the construction company).
> The building structure has already been built and paid for by the construction company
> The planning has already been done and paid for
> All current and future marketing, advertising and sales activities, as well as the staff are paid and will continue to be supported by the ESPADEVIDA project team (Mojacar Estates). These costs will be paid by the construction company after the start of construction. Your contract, before building start and your payment steps, will be direct with the builder and not with a project-developer or project-investor. It is the same, as if you would build your private house and would engage your builder directly.
All these preliminary project costs would normally have to be paid by a project investor, as they start very early with the construction of the project.
We were asked again and again why we do not start. Now, at the latest, everyone will surely become aware that an investor would then have been required for the pre-financing.
However, this can very quickly lead to negative consequences in a crisis such as the current one. Since an investor bears more risk for pre-financing an earlier start, the involvement of a project investor naturally increases the purchase price of the apartments considerably. This is usually about 20% and more.
In crises such as this, project investors can very quickly run into financial problems and projects can then easily end up in the hands of a bank or perhaps even be stopped.
The only advantage of involving a project investor is the earlier start of construction. However, this would have to be paid for with the disadvantage of higher house prices and an earlier down payments, which creates a further risk in a crisis like this.
The ESPADEVIDA APARTMENT GALLERY is not affected by such negative consequences.
Furthermore, the freedom of forming the individual community would be restricted by an investor, especially if a bank would have to intervene. This would also completely contradict the principles of a privately managed community housing estate.
The only investment needed is a little time and patience, to gather the required number of neighbors. Then, without investor and the connected disadvantages, you can move into the ESPADEVIDA APARTMENT GALLERY together with peace of mind.
The longer project preparation phase is normal in co-housing anyway. It needs certain time to get to know each other to start forming a community. In the age of new media this is possible without a lot of travel, time and costs via "ONLINE ROUND TABLES".
Since the beginning of the crisis, by the way, the first tendencies have already become apparent that people are now looking for safer community housing and financing options.
For those who cannot or do not want to buy, we even have SEGUDEVIDA, a special new type of beneficial ownership (usufruct) as a favorable, alternative long-term lease variant.
The thing that could be lost is your invested time, in case later you decide against it. But even then the ESPADEVIDA project establishment model might still have offered an advantage to the interested parties and protected them from making the wrong decision.
The ESPADEVIDA Team Spain
Part of Mojacar Estates S.L.
We would be happy to welcome you to our next ONLINE ROUND TABLE
VIDEO explaining why cohousing PLUS: