Interested in buying a ranch in Colorado? Ready to fulfill your dream and get the best ranch that is out there? A lot of people dream about this property since it is so universal, large & extravagant. There is a lot of fun activities for you to do + you can customize the space & use it per your preference. We have all the needed information & the inside scoop on how to buy properties that meet your goals, finances, as well as your personal style & preference. Keep on reading and have the best experience!
How long can it take to buy a ranch?
Depending on the nature of the property, it will usually take you around as little as 30 days or as long as 90 or more days. This will also depend on the owners, your budget, as well as the season. Heads up since many ranches will have existing grazing leases between the ranch and a tenant operator, which can make the transfer slower than usual. Once you seal the deal just know that most sellers will have 30-45 days after closing to finish moving the personal property of the ranch.
7 Tips for buying a Ranch in Colorado
1. Budget-friendly
Before you purchase any property you need to check your budget and see if it falls within your financial goals. You can talk to a financial advisor and see what is the right & tactical way on how to approach this property. Make sure that you let them know if you are:
- Buying this for yourself (if you are single) or for the entire family
- If you plan on living there as your primary residence
- Is this your little Summer house & getaway spot
- Referred areas & size
2. You can find yourself a broker
Once you have your goals and budget, you can begin with your search for the right help & proper assistance. You should look for a land broker that shares your values and understands your goals. A local broker will know all the latest homes & properties that have been out in the market, as well as their prices.
3. Location of the property
The top priority for every owner is the location of your chosen ranch. What is the climate & soil-like, and is the property practical for animal owners, or those who plan on having livestock? Here are your key points:
- Go for a larger ranch only if you have the right level of manpower & resources that can cover all the additional expenses
- Livestock and a bigger ranch is a must-have for those who plan on working with horses
- Different zones in Colorado might come with a different set of rules. There may be restrictions on building construction and agricultural use, so make sure that you find something that fits you
4. Water usage & rights
Water rights are one of the most unique aspects and something that you need to think through. If you plan on owning a piece of land in Colorado, make sure that you’re satisfied with its water configuration system. If you need the water only for some basic everyday tasks such as showering & dish-washing you will easily have your wishes & goals fulfilled. If you are planning on working with livestock heads up since this can get quite pricey.
5. Ranching = profit
For a lot of people, ranching is a way to make a profit & enjoy a new management plan. You can add so many new interesting features to your ranch that are considered innovative & profitable solutions. You’ll need to consider all aspects of the land before you begin the process of creating your little oasis and before you start making money. This is why it is good to talk to a financial advisor before you make any big moves.
6. How accessible is it
When it comes to owning land, remote access can mean miles and miles away, which is why it is best to check out the property in person. If you plan on living there or visiting a couple of times per month, make sure that you go for a piece of land that is well planned out & easily accessible. This also has a huge impact on your privacy. Are you a loner, or someone who loves to socialize with your next-door neighbors? Think about accessibility & its exterior before you make a deal.
7. Recreational + improvement features
Recreational ranches are a common theme and are highly loved & appreciated for fishing & hunting. However, what is the state of your current ranch, and does it need some new improvements + do you need to invest in it? Recreational properties are fun, but they can be quite pricey + their maintenance is not simple either.
So, what are some things for you to consider before you decide to buy a ranch?
In conclusion, make sure that you follow & look into these aspects:
- Water system & water rights
- How accessible is the property
- Leases
- The size & your preferred budget
- Livestock trailing agreements
- Leases from state and other government
- Structures and buildings
- How isolated it is/ if it is too busy
- If it is your permanent residence or just a summer getaway home
Ready to seal the deal & find your perfect ranch?
If you’re ready to browse through and look into some properties, make sure that you check out Harrigan Land. They can help you find your ideal ranch + they have loads of different options for you to choose from. Look into their hunting ranches, fly fishing properties, horse properties, or cattle ranches – they have a little bit of everything for everyone!
They have over 30 years of experience and different properties throughout Colorado, Wyoming, Utah, Montana, and New Mexico. Browse through their pictures and find the best property that suits you and that meets your requirements. You will enjoy their selection.
