If you are thinking of buying land in Colorado there are some things you should look in to. I field a lot of questions and ideas from people that are hoping to buy land and build. I find once we start digging into the ins and outs that there are a lot of unknowns. This post is all about those major things that people just don’t know about.
Things to know when Buying Land in Colorado
- 🏞️You need to think about how you will pay for the land. Land is riskier for mortgage companies. The ones that will lend on land will likely want 20% down. They will also give you a specific time frame as to when you need to start and finish building by. If you are looking to buy land and not build you will need to pay cash for that land.
- 🏔️ If you are looking for land in the mountains you will want to consider a few things when looking at the lot. Is the lot level or are you going to have to create a level spot. Is the soil decent enough to build on as it is. Are there any restrictions in the county as to what you can and can’t build. Is it part of a HOA and do they have separate restrictions. Keep reading to see more things you will need to consider.
- 💰The cost of land often surprises people. Land is a valuable resource here in Colorado, so it is expensive. If you go way South you will find cheaper acreage then if you are building closer to one of our major cities. More populate areas you will likely find lots starting at $250,000 and upwards.
- 🚽Where does your poop go? You definitely need to think about this. Can you connect your home to a public sewer? If not you will need a septic tank and system. Septic Tanks need to be pumped out regularly. You will also need a leach field installed.
- ❄️If you are in the mountain areas or in one of our regular snow paths, access is important. Will you have to clear roads and driveways yourself? If so you will need the equipment to be able to do that. You may find yourself snowed in often.
- 💡Utilities are to be considered too. Can you easily get electricity, sewer and water to the property. Are there water rights on the property? If you can’t easily access these things from your property you will have to pay to have them installed. This can be costly
- 🔥In the mountains and even the base of the mountains, wildfires are a concern. It’s better to have a clear spot around your house that is not full of trees. That way if there is a wildfire your house doesn’t catch on fire. You will need to consider additional insurance too.
Looking for more information on Buying Land in Colorado. Check out my video below or contact me at info@haleybartlett.com.
