Question for construction expert in CO

[stugray]

Sorry to add a horror story about a HOA, but my brother lives in a condo in Aurora.

His roof/outsidewall leaked during a heavy rainstorm. It destroyed the drywall in his bedroom, all of the parkay wood flooring in the entire house, and the kitchen counter.

He contacted the HOA ( they are responsible for the insurance if the exterior of the house is at fault ) and they looked into it, and said that they were not responsible, the recent siding installer was ( which the HOA couldnt even say WHAT contractor - they werent the management company at the time of the siding install). So the HOA said that the damage to the interior will have to be paid for by the Homowners insurance company.

He had the Homeowners ins. company come and look, and they say they are not responsible since it was water damage from the outside.

After my brother complained to the HOA, they just said "Oh well, we are bankrupt so we cant pay for anything... Sorry!". So my brother has to repair the house himself and THEN take the HOA to court ( whose management company has probably changed three times in 5 years ), so he's probably just screwed.

Stu

[roadracn]

I know there are houses in my area, Hampten and Chambers area, central aurora, for 170's. Take your 15 and add a HOA payment and youd actually save money on the monthly payment, not to mention if you are a good fix it guy, Colorado almost leads the way in Forclosures, I know you can get a great deal on a house that needs a little TLC

[Jar*Head]

TLC that is my favorite word... I will do more research on the HOA and will keep you all update on the new home when i get back from Aurora in March. I hope i will enjoy CO instead of frustrating with the HOA folks...

[sscherin]

Roadracn has a good point.. there are tons of foreclosures out there right now.. One guy I know got a house that sold last year for $450,000 for $375,000.

Finding good home in the aurora area with no or low HOA shouldn't be to hard.

[The Grim Reefer]

This is a good site to search with JH

http://gerry.milehighrealestate.com/

You can search a list of homes that are Fixer uppers or a list of Bank Owned houses. If you find something you like just give the MLS number to your agent and they can get you details.

[Jar*Head]

Thank you so much for the great info The Grim Reefer. I am so excited about the move. I cant wait.

BTW, do we have any electrician in the house? I have a few questions....

[FishnWishn]

Cherry Creek area could mean either the townhouse is in the Cherry Creek Reservoir area or the Cherry Creek School District. Both are good places to be. The latter being the best for your kid to grow up in. Both are located in South/SE Aurora.

Give your agent some parameters on a wish list and let him look for the house. It is hard for you to know what area you are looking at with most websites since you are not from Colorado. Besides, that is what he is being paid to do.

I just did a quick search on homes in South Aurora with min. 3 bedroom 2 bath, from $150K-$160K and came up with 88 homes. for instance you can get a 4 bed,3 bath, corner lot that backs to open space, 2100 S.Ft. tri-level home for $155k. It even gets better, NO HOA, in the Cherry Creek school District. Another home I saw listed was $200K when it went on the market in Aug. and has been dropped every mth to $155K in Dec. It is a 2400 S.Ft. home 5 bed 3 baths/680 s. ft. basement. So put that agent to work. Have a few homes ready to show you when you do come out in march.

[Jar*Head]

I am falling in love with the community. Colorado folks seem so nice and helpful.

Thank you so much fishnwishn. I talk to my Realtor every other day and she promise to get me at least 20 houses to look at when i get to Colorado...

No HOA? That is the magic word....

[bmb527]

I would look into a stand alone house. There are many that are dirt cheap compared to a couple years ago. It would be worth going over w/ Theresa, the agent I sent you to.
As for HOA's, I was on the board of the HOA at my old townhome, they MAY allow you to install a retractable awning, but they would not allow a shed or addition to the structure of their building. The idea behind an HOA in a townhome community is to keep the buildings uniform, if you build an addition, it makes the building your unit is in different from all the rest and the board won't have it.
As for if the place needs major repairs or improvements, a certain portion of your monthly dues goes into what is called a "reserve fund" which is what covers most of those issues. If your HOA is broke, they can take out loans, do a 1 time assessment, which means every owner in the community pays an equal amount 1 time. Once a year, the HOA has an annual "general meeting" which you NEED TO ATTEND! This is where you vote on board members as well as vote on budgets and whether or not to raise dues.
An HOA is ok if you know what you are getting into, make sure you read the by-laws well and ask lots of questions. If I was planning on setting up a tank of the size you are looking at, I would look at a single family home. You won't be able to do what you want in a townhome.
Bill

[Jar*Head]

Bill, thank you. I have been working with Theresa on that matter. She has been very helpful and knowledgeable. Thank you for the tips. I already kiss the thought of building addition sun room good buy yesterday. I am new in town. I want to stay away from all that trouble. I will find room in my own home to fit the tank. Consider the building cost.... My wife will kill me before i even finish the project

[bmb527]

Another thought is to build a new house. There are some in the Green Valley Ranch area that are very nice that start in the mid $100's. They are built on a stressed slab and you could put your tank anywhere. We were in the process of building one when I got a job out of state, so we backed out. The website is listed below.
http://oakwoodfindahome.com/webconfi...dwgrid=567#571

They are nice homes in a brand new area.
Bill

[Jar*Head]

The website said starting $200. That sound like my wife uncle new home. He has his house build for $450K. We plan to stay in that house for couple years till my wife back to work for a year or so then will buy a new single home.

[bmb527]

When you click on the lnk, click on the "celebration collection" on the map. It is the one furthest to the left. That area is the easiest commute to Buckley you will find as well. It is just down the road.
Bill

[Jar*Head]

Exactly, from her uncle house. I can see Buckley AFB. I think i know what you talking about. When i was there, he is the first person who live there.