Senior Coop Benefits
Realife Cooperative of Faribault, MN offers independent senior living. The dynamics of our coop community creates opportunities for expanding your circle of friends while being as independent and socially involved as you choose.
Independent Living means having choices
The Realife senior living cooperative delivers maintenance free living, security, and a worry free lifestyle. Maintenance free because all the building, grounds, appliances, heating, cooling and home repairs are taken care of by a maintenance staff for all our senior living residents. Secure because there is no fear of being home alone. Our secure entry system, 24 hour emergency call system, fire protection and alarm system throughout the building gives our independent seniors the security they deserve. Worry free because as an independent senior you can travel for a weekend, month or the entire winter, knowing your home is taken care of and is in secure hands.
Cooperative Living Advantage
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Realife independent senior living members can take advantage of a re-sale procedure that is simple and low cost. You avoid all of the high realtor commissions, real estate transaction fees, title insurance and closing costs of market rate properties like condominiums or townhouses. Our Resident Service Director will handle the transfer of your share as a service to you, the member.
Senior coop members also enjoy guaranteed equity in their home. The share value of your unit is guaranteed to increase each year so you have certainty in your investment and security of profit.
Realife members receive the same tax advantages as a single family homeowner. This means you can make annual deductions on your income tax for the property taxes as well as your share of the cooperative mortgage interest. These deductions can equate to nearly half of your total annual monthly charges.