How to Buy a Ranch – Buying a Slice of America
The great American West has captured the imagination for almost as long as there was the United States. In the early 1800s, President Thomas Jefferson acquired a huge portion of land with his Louisiana Purchase and commissioned the Lewis and Clark Expedition to explore the West and report on its opportunities. “Go West, young man” has almost become a command to the American people.
It’s no wonder that owning a private ranch is a dream of so many people. They see themselves riding off the range to a smoked brisket dinner after leading their steed to the barn. But making this a reality takes more than a few home tours and a trip to the local animal fair; buying a ranch requires careful consideration of the important factors which go into buying and owning a ranch.
However, we get many questions about the steps and how to buy a ranch in the state of Colorado. The first step is to really examine your motivation and purpose in buying or selling a ranch property. Everyone is different. Some want to enjoy the great outdoors and perhaps own a few horses to ride the local terrain. Others intend to use it as a business venture and need to fully vet the land and its usability.
Here are a few unique tips on how to buy a ranch in Colorado:
• Ranches classified as Class A are those in the best locations with profitable cattle operations in place. These can weather market downturns more easily.
• Water rights are a critical component of owning a ranch. Learn about the right to use water on or adjacent to the property.
• Mineral rights are also important to the use of your ranch property. Just as with water rights, mineral rights do not automatically go with the purchase and must be investigated as well.
• Are there easements or “right of use” to the property? These can include the right to pass through the land, fishing or hunting rights held by others and/or conservation easements, among others, which could impact your ability to develop the land.
• Ensure the property can be used for your specific purposes, such as cattle land or horse breeding.
These are just a few of the considerations that a potential ranch-owner should investigate when searching for the right property. Owning a ranch can be a rewarding experience; the fresh air and open space have always appealed to the American spirit. By spending a little time investigating your options, you can ensure that you find just the right ranch for your needs. Choosing the right Realtor® with in-depth experience in ranch properties can save you time and money.
The internet is a great way to find a good agent or buyers can contact Jim Bineau at 970-688-0609 who can help you with any questions on how to buy a ranch in Colorado. Jim has the Elite Accredited Land Consultant (ALC) designation from the Realtors® Land Institute.
The ALC designation is only conferred to those real estate professionals who achieve the highest level of education and experience and is recognized throughout the industry as the pinnacle of achievement. Jim works with his clients to achieve their unique goals for buying and owning a ranch. As one of only 470 land specialists who hold the prestigious ALC designation, he has the expertise to help you properly assess ranch properties to ensure you buy the right property for your needs.