Participation in Home Design
In October 2024 the P2 Homebuyers worked with Matt Worswick, our architect, to refine the P2 home designs.

In the coming months, the Spec Review Team (SRT), which is made up of P2 Homebuyers, will work with Matt, Mac, the builder, and other P2 Homebuyers to decide on the finish details that will go into our P2 homes. Those details include such things as doors, windows, trim, etc. The SRT will decide which details will be part of the standard home package and which details we can offer as optional upgrades.

​Lot Selection
When a new household commits to being a P2 Homebuyer, they get the next spot on the lot selection queue. The first household to commit got the first spot. The second committed household got the second spot, and so on. There are now 10 households in the queue. The next household to commit to being a P2 Homebuyer will get spot #11.

This is important for you because P2 Homebuyers will select lots in the order of the lot selection queue. The P2 Homebuyer at the top of the list will choose their lot and carports first, then the P2 Homebuyer that's second on the list will choose next, and so on until all 14 lots have been chosen. If you commit to being a P2 Homebuyer sooner, you'll be higher up on the lot selection queue and you'll have more lots to choose from when its your turn to choose.

Lots will be selected once all lot development costs are known and lot pricing has been determined. 

Lots will be priced based on the cost to develop all of the lots and the quality of each lot. The average cost of each lot will be determined based on the total cost to develop all of the lots divided by 14. Lot development costs include water system, septic system, parking lots, engineering, county approval, etc. Basically, any costs that aren't related to the cost of building homes or carports will be lot development costs. Then a premium or discount will be determined for each lot and applied to the average lot price to determine the lot price for each lot.

Lot premiums and discounts will be determined based on the relative quality of each lot, considering such things as lot size, backyard and side yard privacy, backyard views (e.g., road vs. forest), proximity to parking, etc.

We are hoping that any home can be built on any lot, but it may turn out that certain home models may only be allowed on certain lots. For example, some models may have basements and it might be possible that basements can only be built on certain lots because of soil type. We will determine which home models can be built on which lots before selecting lots.

When a P2 Homebuyer selects their home lot, they will also select their carport lots (if any). Each P2 Homebuyer can buy as many carports as they 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.

We may hold a mock draft of lots before the actual selection so P2 Homebuyers get a sense of which lots other P2 Homebuyers are considering selecting. This could create an opportunity for P2 Homebuyers to discuss their possible lot selections and possibly revise their selection to accommodate other P2 Homebuyers' lot preferences.

​$12K Phase 2 Homebuyers Nonrefundable Deposit
The $12K Phase 2 Homebuyers (P2HB) 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 a P2HB drops out for any reason, they will forfeit their deposit. They will not be able to sell it to someone on the waiting list. We're sorry that P2HB's 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 20 years ago. We allowed members to sell their spots and found it to be very disruptive and costly to the community. When you become a committed P2HB, you will have real skin in the game and therefore you'll be invited to participate in the design of your future home. The home designs will reflect the needs of specific members. During P1 development, we found that when those members left, the architect had to spend extra time trying to accommodate the needs of the new member. This is just one example of the cost and disruption.

We want P2HB's 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. The $12K deposit that would be forfeited would cover the costs of the disruption to the other P2HB's.

The only reason that the $12K deposit would be refunded would be if we fail to get someone's home built by the construction deadline in 2027. The plan is to complete construction of all P2 homes in 2025 and 2026, but given that unexpected delays can sometimes happen, the construction deadline isn't until 2027. The whole project would be in jeopardy if we were in the middle of construction, the construction deadline passed and we had to refund deposits to P2HB's rather than sell homes to them.


​P2HB Cash Requirements
  1. P2HB Commitment: $12,000
       (upon becoming a P2HB)
  2. Periodic Additional Deposits: $1,000
       ($1000 every 8 months to ensure P2HB is still committed)
  3. Nonrefundable Construction Deposit: 10% of home purchase price
       (within 7 days of entering Home Purchase Contract)
  4. Home Purchase Balance: home purchase price minus all deposits previously made minus Early Bird Credit
       (at closing)

The cash requirement at the time of the Nonrefundable Construction Deposit will equal the Nonrefundable Construction Deposit amount minus any deposits already made so that the total of all deposits required on P2HB's will be the Nonrefundable Construction Deposit​ amount.


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 $12K deposit, the "Purchase Protection" fee is ~$360. When making a $3K deposit, the "Purchase Protection" fee is ~$90. 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.

​Home Design Collaboration
Phase 2 Homebuyers are required to complete four sessions from our Communication & Consensus Training before participating in home design collaboration. The Communication & Consensus Training consisted of nine sessions, which happened live on Zoom in 2021 and 2022.

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

Please watch the Required videos (and as many others as possible) and inform Mac when you're done.

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.


​Early Bird Credits
Early Bird Credits are rewards that households receive for becoming P2HB's early in the development process. We recognize that making a $12K non-refundable deposit is a risky proposition. That’s one of the big reasons that anyone making the commitment to become a P2HB before we break ground will receive an $5K Early​ Bird Credit to be applied towards the eventual purchase of their home.
​
The other main purpose for Early​ Bird Credits is to incentivize people to get off the sidelines, get into the game, and make the commitment to buy a home. Without sufficient committed homebuyers at each major development investment milestone, we cannot safely move forward.

​Mortgage Financing
To ensure that the project is financially sound for everyone’s benefit, all P2HB’s 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