Operating Costs

Your unit's monthly fee contains two elements: a contribution to operating costs, and a contribution to a reserve fund.

For 2024, your unit's share of monthly operating costs is $664.44.

One of the great things about coliving is that your regular household expenses are shared with others.  In our case, seven units share these operating costs.  Property taxes, insurance, repairs and maintenance, electricity, heating and cooling, cleaning, cable, high speed internet, phone (household landline), supplies, lawn and garden -  your monthly $664.44 covers all of them  

Your monthly reserve fund contribution is $660.

Our reserve fund policy provides for major capital expenditures and emergency repairs. Funds not required to meet those two priorities  are available for renovation and improvements. 

Your total monthly payment, operating and reserve funds combined, is $1,324.44.

There is also a monthly, per-person contribution to food costs which, in 2024, is $400. This provides all meals, non-alcoholic beverages and snacks. Food costs are subject to reduction if you are absent for seven consecutive days or more.

Income from Coliving

Wait. There's income? We operate Oakview Marina, a successful business which provides docking and parking services (no fueling) on Little Hawk Lake. As a co-owner, you also receive a share of profits from marina operations. You don't actually have to do any work in the marina. How cool is that?

How does Oakview Coliving Compare?

Another way to look at costs is to compare Oakview Coliving to other alternatives, such as a single home or a retirement home, based on best available information. (We choose retirement homes rather than condos as a comparison point because the services typically provided by retirement homes, such as meals and cleaning, are a much better match for us). 

		Single Home		Oakview Coliving		Retirement Home
	Capital cost 2024	800,000	(1)	350,000		n/a
	Basic Annual Operating Cost	8,500	(2)	16,200	(3)	55,000	(4)
	Meals	4,992	(5)	4,800		Incl
	Services:
	Weekly Cleaning	7,800		incl		incl
	Snow removal	500		incl		incl
	Cable (Basic)	600		incl		1200
	High Speed Internet (Starlink)	1,680		incl		n/a
	Maintenance:
	Fireplace Maintenance	85		incl		incl
	Home Generator Maintenance	n/a		incl		incl
	Furnance Maintenance	150		incl		incl
	Water treament	n/a		incl		incl
	Repairs	3,000		incl		incl
	Safety
	Generator	No		incl		incl
	Companionship	No		Yes		Yes
	Equity	Yes		Yes		No
	Waterfront	No		Yes		No
	Income	No		Yes	(6)	No
	Total annual cost	27,307		Less than 20,000		56,200
	Use of capital (7)
	Difference in capital cost (avail. for investment)	0		450,000		800,000
	Assume 5% annual return on investment	0		22,500		40,000
	Net annual cost	27,307		-2,500		16,200

Notes:

1  Median list price of single family homes in Haliburton County in April, 2024, was more than $1.1 million. Source
2  Assumes hydro = $1500, taxes=$2000, gas=$2000, insurance=$2000, water=$1000
3  Annual Monthly Maintenance Fee
4  Haliburton Gardens monthly costs range from $3,295 to $6,000 ($40,000 to $72,000 per year), without care services
5  Source: CTV News
6 Co-owners share in profits from marina operations
7 This example assumes that if you sell your $800,000 home, you will have some amount available to earn income from investment.