Townhome in Highlands Ranch - worth it?

[bhcompy]

2bindenver, does that mean if one unit forecloses the other units can be responsible? i remember hearing something a while ago about issues with foreclosing and condos, but i dont recall what it was about. what you said there kind of piques my memory

[2bindenver]

no - the community's property would be only the land, aka common area.

ownership of the air space inside of the walls are privately owned.

I tell my buyers that in a condo if you have 100 units in the complex then you have a 1/100th ownership in all the common area - you cannot say this blade of grass is yours. In a townhome, you usually have a fenced yard, but not always, and you can say this blade of grass is yours.

[RonAriba]

Originally Posted by 2bindenver

The difference in CO on whether the property is condo or townhome is land ownership. Condo owners have an undivided interest in all the community's property.

That is correct. However, there are townhouse style condominiums complexes that have some land/yard associated with the property. Check with your real estate agent before you buy. The declaration of the complex will indicate if it is condo or townhouse.

[.gif]

Originally Posted by mrinc

Do you think it's worth paying in the low $300's for a brand new 2000sf townhome (3br/2.5ba) in the heart of such a family oriented area?

as long as it's not in palomino park.

i dunno... if the home is nice, you could probably find someone to buy it once you decided to move. a lot depends on the market. i won't be able to sell my DTC condo this year without taking a big loss.

[RonAriba]

Originally Posted by .gif

i won't be able to sell my DTC condo this year without taking a big loss.

What difference does it make that you have to sell at a loss if you buy something else whose price also declined? Mortgage interest rates will go up and waiting will not serve you well in the long run.