FAQs

/FAQs/

What does it mean to purchase a membership?

In cooperative housing you purchase a membership, not a deed to the property. The buyer does not need a separate mortgage because one master mortgage covers the entire building. The buyer does not pay the closing costs normally associated with the purchase of a home. The monthly housing charge is a share of the operating costs [...]

2017-10-17T17:31:02+00:00October 17th, 2017|Categories: , , , |0 Comments

How do I select and compare senior housing?

Compare our financial advantages: Ownership with deductible mortgage interest and real estate taxes, no landlord or outside investors, affordable down payment, and predictable housing expenses with a reserve fund for major repair and replacement. We're happy to provide details, an easy comparison worksheet and more. Buyers are encouraged to compare other senior housing options with the [...]

2019-02-13T17:56:23+00:00November 27th, 2012|Categories: , , |0 Comments

About Nokomis Square Cooperative

Nokomis Square Cooperative offers apartment style senior living in the Lake Nokomis area of South Minneapolis, MN. With a variety of features and amenities on site, many nearby conveniences, and exceptionally maintained senior housing units, you’re sure to find activities and comforts to enhance your daily living. Contact us today for more information!