Becoming a Phase 2 Homebuyer
There are three requirements to become a Phase 2 Homebuyer and reserve your spot in Phase 2.
  1. Complete Prospective Member Checklist
  2. Sign and submit Phase 2 Home Purchase Contract
  3. Make Nonrefundable Construction Deposit
    ​(    equal to 10% of home and carport purchase price)

​See details below.
Phase 2 Homebuyers
  1. ​Natalia & Alex + 2 daughters (4 and 2)
  2. ​Rejoyce & Noah + 2 daughters (23 and 13) and a son (18)
  3. Caryl & Patrick
  4. Jenny​
  5. Kaitlin & Andy
  6. Melanie & Michael

​
Two Commitments
​Committing to Phase 2 is really about making two commitments:
  1. Becoming a Member of Heartwood Cohousing. That's what our Prospective Member Checklist (PMC) is all about – giving you enough information about life at Heartwood for you to make a well-informed decision as to whether you're a good fit for Heartwood and Heartwood is a good fit for you. Completing the PMC takes time so you are encouraged to get started on it as soon as you've determined that you are seriously interested in joining Heartwood Cohousing. If you decide to begin completing the PMC, please send an email to [email protected] to let us know and we'll pair you with a Heartwood member who will be available to answer any questions you may have as you go through the process.
  2. Becoming a Phase 2 Homebuyer (P2HB). Based on our home prices (see Phase 2 Homes) and your personal financial situation, you will need to determine whether you can afford to purchase a home in Phase 2 (as demonstrated by a Pre-Approval Letter or a Balance Letter) and make a commitment to do so. You are strongly encouraged to consult with a mortgage lender and get pre-qualified or pre-approved for your home mortgage. Please see the Mortgage Financing section at the bottom of this webpage. Because your Phase 2 Construction Deposit will be nonrefundable and P2HBs dropping out during the development process adds development costs for all of the other P2HBs, it is crucial for you to make sure that buying a P2 home is financially viable for you before signing your Phase 2 Home Purchase Contract.​

10 Day Grace Period
Once you have completed your Prospective Member Checklist and have decided that you'd like to live at Heartwood and buy a Phase 2 home, it's time to choose your home and lot. Because there are times when multiple households may be ready to commit to becoming a Phase 2 Homebuyer at about the same time, in order to be fair to everyone, we will allow a 10 day grace period for interested prospective P2HBs to reserve a lot while they complete their Phase 2 Home Purchase Contract and make their Construction Deposit.

Here’s how the 10 day grace period works:
  • Prospective Member Checklist: To enter the 10 day grace period you must first complete the PMC.
  • Reserving a Lot: After you choose your lot and carport(s), you will make a $10,000 (Nonrefundable) Lot Reservation Deposit to reserve your lot and carport(s). Your Home Purchase Contract will then be prepared for you within 24 hours. The deposit ensures that you have skin in the game so that we can confidently prepare your personalized Home Purchase Contract and remove your chosen lot and carport(s) from being available to others.
  • Getting Under Contract: Your 10 grace period starts on the day you make the $10,000 Lot Reservation Deposit. You then have 10 days to review your Home Purchase Contract, sign the contract, and make your Construction Deposit. Your $10,000 Lot Reservation Deposit counts towards your Construction Deposit so it doesn't cost you anything so long as you enter into a Home Purchase Contract. During your grace period, your lot and carport(s) are reserved for you.
  • Lapse: If you don't sign and submit your Home Purchase Contract and make your Construction Deposit within your 10 day grace period, your reserved lot and carport(s) will be released. You will still, however, retain credit for your $10,000 Lot Reservation Deposit for up to 100 days. If during that time you enter into a Home Purchase Contract for an available lot and carport(s) (if any) and make your Construction Deposit, you will be credited for the $10,000 deposit. If 100 days pass and you haven't done that, your $10,000 deposit will be forfeited.
  • Waiting List: Once all 14 P2HB spots are filled, we will establish a waiting list.

Phase 2 Homebuyer Benefits
Becoming a P2HB sooner rather than later means that you can lock into current home and carport prices. Because of volatility in construction costs, prices will periodically be reevaluated and adjusted accordingly. See more about this on the About Phase 2 webpage.

Once you become a P2HB, you will have entered a contract to buy a Phase 2 home. You will also be invited to participate in:
  • Phase 2 Homebuyers email chat group where lots of information is exchanged about Phase 2 development, life at Heartwood, and other P2 Homebuyers.
  • P2 Homebuyers Zoom gatherings where the latest construction and development news is shared and discussed. You will also get access to recordings of previous P2 Zoom gatherings.
  • P2 Zoom Happy Hours where we have fun getting to know each other and current Heartwood community members.
  • Onsite P2 Homebuyers gatherings giving you the opportunity to have fun getting to know Heartwood and its members and provide input into various aspects of the P2 planning.​

​Lot Selection
As you enter your 10 day grace period, you will be able to select your home, lot, and carport(s) from those available at that time. You can see a map below showing which homes, lots, and carports have been selected and by whom, which are still available, and which model home will be built on each lot (Juniper or Ponderosa). Because the Ponderosa model comes with an unfinished or a finished basement, the basement type is also indicated on the map (UFB: Unfinished Basement; FB: Finished Basement).
​
Prices for available homes (black font) vary based on home model, whether the home has a finished or unfinished basement, and lot quality. The relative quality of each lot is based on such things as lot size, backyard and side yard privacy, backyard views (e.g., road vs. forest), proximity to parking, etc.

When you select your home lot, you also select your carport lots (if any). You can buy as many carports as you want. In order to ensure that P2 Homebuyers' homes are reasonably close to their carports, P2 Homebuyers choosing lots 1 - 7 may only select carport lots in the north parking lot and P2 Homebuyers choosing lots 8 - 14 may only select carport lots in the south parking lot.

P2HB Cash Requirements
  1. $10,000 Nonrefundable Lot Reservation Deposit
       (reserves lot and carport(s) during 10 day grace period – see above)
  2. Nonrefundable Construction Deposit: 10% of home and carport(s) purchase price
       (your $10,000 Lot Reservation Deposit counts towards your 10% Construction Deposit)
  3. Home Purchase Balance
       (paid at closing and equal to your home purchase price minus all deposits previously made)

Nonrefundable Deposits
Nonrefundable deposits will be used to finance the development of the Phase 2 homes. That is, they will go towards paying for engineering, design, roads, water, sewer, home construction, and all the other costs related to developing Phase 2.

If you drop out for any reason, you will forfeit your deposit. You will not be able to sell it to someone on the waiting list. We're sorry that P2HBs have to shoulder that risk, but risk is a reality of the development process. The high disruption cost of members leaving during the development process was one of the lessons we learned the hard way during Phase 1 development 25 years ago. We allowed members to sell their spots and found it to be very disruptive and costly to the community.

We want P2HBs to be fully committed to buying a home and living at Heartwood. We understand that life circumstances may get in the way. That would be unfortunate for all involved. When a P2HB forfeits their deposit, that money goes towards covering the costs of the disruption to the other P2HBs.

The only reason that your deposit would be refunded would be if we fail to get your home built, which is now very unlikely since we are under construction, have insurance and financial backing in place, and are fully committed to completing the project.

How to Pay Deposits
Mail a check, pay via PayPal, or contact Mac if you'd like to arrange a wire transfer. Checks should be made out to Tara Development and mailed to Mac Thomson, 800 Heartwood Lane, Unit 16, Bayfield, CO, 81122.

Our PayPal address is: [email protected] (Tara Development). Before finalizing your PayPal transaction, you’ll be given the opportunity to choose "Purchase Protection" (it might say "payment for goods and services") or "Personal" (it might say "Send to someone you trust" or "payment to friends or family"). Make sure to choose "Personal" (or "Send to someone you trust" or "payment to friends or family"). If you accidentally choose "Purchase Protection" (or "payment for goods and services"), there will be a fee charged at our end so you’d need to pay extra to cover the fee. When making a $10K deposit, the "Purchase Protection" fee is ~$300. To have no fee charged, make sure to choose "Personal" (or "Send to someone you trust" or "payment to friends or family"). Sorry this is a bit complicated. We've tried to simplify it with PayPal, but without success.

Rough Timeline of Home Purchase Contract Milestones
Your Home Purchase Contract includes three important milestones:
  • MEC: Mutual Execution of Contract
  • NFP: Notice of Final Plat
  • CO: Certificate of Occupancy

This is a rough timeline of these milestones and other important construction milestones. Please understand that the future is uncertain and construction timelines are difficult to nail down precisely.

MEC: Mutual Execution of Contract
That refers to when the buyer(s) and seller both sign the contract. This happens when you become a P2HB.

NFP: Notice of Final Plat
In June 2024 we received Preliminary Plat Approval from the County. That was the BIG approval that gave us the green light to build Phase 2. With that approval there were numerous conditions to obtain Final Plat Approval, such as paying school fees, obtaining a stormwater permit, and the big one: installing infrastructure (roads, water, sewer, etc.). Infrastructure was completed and inspected by the County in October 2025. We are currently working with the County to complete paperwork which will allow us to receive Final Plat Approval and then record the final plat. That makes the P2 lots official and legal. Hopefully that will happen in early November.

At that point I will notify all P2HBs of the recording of the final plat.

That is also the time when the HOA and Sandy & Mac will execute the land swap. Sandy & Mac will receive title to the Phase 2 lots. The HOA will receive title to the Outback land. The community will at long last own all of the open space. Sandy and Mac will at long last get our money back out of our original land purchase by selling P2 homes and lots.

Construction of Buildings
The County won’t issue building permits until after we record our final plat. We are working diligently with the County to streamline that process so we can get building permits ASAP and get started on construction to avoid delays. We will build carports first to serve as materials storage during home construction.

Our plan is to build all 14 homes to the point of having them dried in ASAP. The order of construction will be in whatever order is most efficient.

After the homes are dried in, we will prioritize completing homes of existing homebuyers and wait on unsold homes. Within the sold homes, we will prioritize homes for people that want to move in ASAP. The primary reason to complete unsold homes after sold homes is to allow future homebuyers to make more selections within their homes (cabinets, counters, flooring, etc.)

CO: Certificate of Occupancy
As our home construction schedule gets firmed up, P2HBs will be updated on when they can expect their home to be completed. That will give them time to arrange for their big move and finalize mortgage financing, etc.

At this point, very roughly, we expect P2 homes to be completed throughout 2026. The first home could be completed as early as March.

When P1 homes were completed, Beth (P1 Assistant Project Manager) and Mac (P1 and P2 Project Manager) conducted a detailed walkthrough of each home with the builder, creating a detailed punch list of items to remedy. Then we repeated that walkthrough with homebuyers so they could make sure that their new home was all OK. Another punch list was created. We will follow a similar process in P2. Bottomline is that we want to make sure that every home is very high quality, built according to plans and specs, and that the new homeowners are completely happy with it.

Once a home is basically complete, the County Building Department will inspect the home and issue the Certificate of Occupancy. This will probably happen before all of the punch list items have been remedied since those items tend to be fairly minor, like paint drips on the baseboard.

We will plan to close on the home sale within a week of CO. Homebuyers must have all of their financing together before then so they can buy the home.

The Heartwood Membership Team will assist new homebuyers so their move-in goes as smoothly as possible and they enjoy a comfortable and joyous arrival to Heartwood.

​Communication & Consensus Training
In preparation for P2HBs working together on home designs and moving to Heartwood, we held nine sessions of Communication & Consensus Training on Zoom in 2021 and 2022. Those were very well received and we now encourage new P2HBs to view the recordings.

The sessions below are labeled as:
  • Most Highly Recommended - sessions that we feel have the best content for living in community and working collaboratively
  • Highly Recommended - excellent content
  • Recommended - good content, but maybe not the best for video learning due to participatory breakout sessions and dependence on homework

​Please watch the Most Highly Recommended videos (and as many others as possible).

Click on the name of the session to watch the video on YouTube. Some of the sessions include participatory breakout sessions that you may want to fast forward through.


​Mortgage Financing
To ensure that the project is financially sound for everyone’s benefit, all P2HBs are required to get either a Pre-Approval Letter (for your chosen model) or a Balance Letter. You can view the presentation on this here. The part of the presentation which specifically addresses Pre-Approvals or a Balance Letter starts one hour and 30 minutes in. There are examples of both in the presentation.

Here's a list of mortgage lenders recommended by P1 members:
Phone Contact
Julie: 970-759-4209‬