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Old 07-30-2011, 04:37 PM
 
29 posts, read 39,450 times
Reputation: 20
Default buying property in Waterglen subdivision

My husband and I are thinking of buying a house in the Waterglen subdivision. We'd like to use it as an investment property, and then possibly move into it when we move to Fort Collins in 3 years. Ideally, we'd love to keep it as an investment property and buy another home to move into.

Does anyone have any opinions on this area? We visited Fort Collins and loved it, but did not specifically look at that subdivision. We would go check it out before purchasing it of course, but would love a heads up as to what to expect.

We are looking to buy a house under 200K. It would be our first investment property.

Thank you!
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Old 07-30-2011, 08:42 PM
 
Location: Northern Colorado
611 posts, read 996,949 times
Reputation: 453
The proximity to the interstate is a turn-off to some, but not everyone. There are few homes with basements, so keep that in mind. There are also several differing levels of construction in the subdivision. On the upper end, Richmond built some homes with stucco and concrete tile roofs. On the other end, there are some very small homes with lower level finishes. I believe the HOA dues include trash, basic cable TV and irrigation water for your lawn, but do not include the pool, located at the town homes. However, I think you can by a membership to the pool. A rash of foreclosures went on in the subdivision a few years back, but I have not noticed as many the past year or so.

Good luck in your search,
Mike Weber
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Old 08-01-2011, 07:29 PM
 
Location: Fort Collins
97 posts, read 146,502 times
Reputation: 43
They have an awesome gym. I have clients who like that area but I have had people who do not. Have you looked at Maple Hill? This is a good area as well that would make for a good investment.
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Old 08-02-2011, 08:58 PM
 
29 posts, read 39,450 times
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Good points to know Mike. Alison, Maple Hill has not come up that I've noticed in my searches, but I will keep an eye out. Thank you to both as always!
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Old 08-19-2011, 02:44 PM
 
46 posts, read 66,745 times
Reputation: 21
Be careful with waterglen. Make sure you get a good inspection on the home before making an offer. I am in the construction field here and have seen some pretty shabby/budget construction in that neighborhood. Not all are bad though. There was an issue on a few homes that used A/C units in the attics and they never ran a drain line out causing big mold issues. Also, I have noticed that several homes have become rentals so the owner can try to regain equity when this market changes. I think you can make pretty cheap offers out there and probably get the home, just be patient for the times to change.
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