Cost of Exterior Maintenance/ HOA question (Littleton: apartment, lease, mortgage)

[harrison21]

I was looking at a townhouse in Littleton and at first got really excited because the HOA fee was so low. Then I realized it doesn't include exterior maintenance. It does include grounds maintenance, snow removal, water, and trash, but every other listing I've seen has said "exterior maintenance-including roof." The HOA is an average of about $100 cheaper per month than other places I've seen that do include the exterior maintenance/roof. How much in general are people typically spending on that type of stuff? Are the places that say it's included really just doing special assessments every time something major comes up, so in the end, you're still paying extra for it anyway? I'm trying to figure out if saving the extra $100 per month but occasionally having to pay for my own repairs is okay or a really stupid financial move.

I've never owned before, so I don't have the slightest idea. My parents said they've done very little to the outside of their house in the past 20 years, BUT they have all brick and they live in an area where hail and severe weather doesn't really happen, so I figured locals would be better to ask.

[Arya Stark]

I am on an HOA board. That stuff is expensive.

Roof is about 10K per unit to replace.

We just completed an exterior carpentry and painting project and that was about 8K per unit.

We did assessments but they weren't more than 500 per year.

Not sure if you have a deck or balcony but that can be up to $500 for staining.

[davebarnes]

What does the reserve fund look like today?

[alloo66]

Pay now or Pay more later. You can't skimp on maintenance. Look what is in your budget and live near work and what you can afford. They're nothing worst than being house poor. The right deal will come around and work out well. In the meantime, get ready for the mortgage paperwork.

[Dreaming of Hawaii]

OP, for any place you are looking at that is in an HOA, you have the right to request copies of Board meeting minutes, members meeting minutes, and financial statements. That will give you an idea of what they are spending their HOA dues on, and also if there are major issues within the community.

Personally, I can’t imagine a townhouse where everyone is responsible for their own outside maintenance, especially roofs.

[Mike from back east]

Originally Posted by Dreaming of Hawaii

... Personally, I can’t imagine a townhouse where everyone is responsible for their own outside maintenance, especially roofs.

Agree. It would be an unholy mess, especially with half the people being utter cheapskates who'd do a lousy job of whatever.

As we boomers advance in age we're going to see more community HOA deals where they do all the outside maintenance to include mowing. I've seen a few single family home HOAs that now do this and I'd be happy to live in such a place.

[emm74]

Originally Posted by Dreaming of Hawaii

Personally, I can’t imagine a townhouse where everyone is responsible for their own outside maintenance, especially roofs.

Originally Posted by Mike from back east

Agree. It would be an unholy mess, especially with half the people being utter cheapskates who'd do a lousy job of whatever.

As we boomers advance in age we're going to see more community HOA deals where they do all the outside maintenance to include mowing. I've seen a few single family home HOAs that now do this and I'd be happy to live in such a place.

My neighborhood has lots of paired homes - side by side duplex. We are each individually responsible for our own side. From what I can see, people do coordinate when the roof needs replaced or for exterior painting but otherwise we can each do what we want, as can the owners of the hundreds of similar units throughout Stapleton.

I can't think where I saw it, but I know I saw a picture of a paired home just in the last day or two where the halves were different colors. It wasn't in Stapleton and was a modern style that had a visible demarcation between the two halves that went up the entire facade. I couldn't tell whether it was a design feature by the builder to paint each half a different color or if the individual owners had done that at some point, but it looked interesting. That would be less of a good idea in my area, at least with the houses that are like mine in style because the facade is more integrated between the two sides.

But in almost 5 years of living here, I haven't heard of a single horror story where the owners of each half of a paired house couldn't agree when it was time to do exterior work in common. A townhouse may bring another couple of owners into the mix (most of the ones in my area are 3 or 4 units) so obviously the more people, the more the chances of someone not agreeing, but I think as long as people stay fairly neutral, most people are able to work things out, with no unholy mess ensuing.

I realize that may seem like anathema to someone who has only lives in a stand alone single family but I think people who buy a townhouse or paired home go into it knowing that they will have to be flexible enough to find common ground with their neighbors in these matters.

[davebarnes]

Originally Posted by emm74

My neighborhood has lots of paired homes - side by side duplex. We are each individually responsible for our own side. ...but I know I saw a picture of a paired home just in the last day or two where the halves were different colors.

I live in a duplex.
Our 13-page Party Wall Agreement states:
"In the interest of maintaining the architectural and aesthetic integrity of the improvements, neither Owner shall modify or change the color, texture or general appearance of the exterior of its Unit, its Garage or the Patio Party Wall (including, without limitation, the external structural components, the roof covering, the exterior walls or exterior hardware and trim), unless the other Owner consents in writing to such modification or change. The exterior trim of the Units, the Garages and the Patio Party Wall shall be painted no les s often than approximately once every six years and more often, if necessary. The rest of the exterior shall be painted whenever necessary to maintain a pleasing appearance."

[harrison21]

This is really helpful, thanks! I will cross that one off my list. I'm just getting frustrated because there has been a major issue with almost every place I've been semi interested in. I did put an offer on one place, but mine didn't get picked. My realtor warned me that would probably happen because she thought they probably under priced it just to get a bunch of people in there. Everyone else I know seems to have found something in just a few weeks. But, it doesn't make sense to me to pay MORE per month for something that's not any better than my apartment. Or maybe the interior is slightly better, but the location is worse. And I also have to factor in that I don't currently have to deal with or pay for any repairs, which is another big cost with owning. For now I'm going to keep looking, but I'm wondering at what point I should just stop and sign another lease with my apartment. I'm currently paying $200 extra per month to be month to month while I'm house hunting.