So you have decided to invest in vacant land but don’t know where to start. Today, we will give you three steps for your journey.
1 – What do you want to do with the land?
Your first decision when purchasing vacant land is deciding what you want to do with it. Do you want to build a residence on it? Do you want to have a farm or ranch? Do you want to camp on the property and not build a residence, or maybe camp while you build? Do you want to do commercial activities on the land?
Once you decide what you want to do with the land, then it’s time for step 2.
2 – Check the Zoning on the Property.
After you decide what you want to do with the land, you need to check with your local zoning department to see what can be done about it. You may also want to review the local jurisdiction’s comprehensive plan to determine the local government’s long-term plans. You may have an idea of what you want to do with your investment, but the property may not be zoned for it.
3 – What is the water situation on the Property?
In Colorado, water is everything on the property. Depending on the size of the property, location, and local jurisdiction, you may need to drill a well. You might also have water provided by a metropolitan district or a local water district. How much water will you need for your activities on the property?
If water rights were conveyed when you were purchasing your property, you would want to have a water rights title opinion to make sure that you have a clear title to the water rights and usage on the property.
Call Cynthia Daughtrey at 3D Real Estate, and we will assist you in purchasing vacant land. Call 303-548-9659 or email at Cynthia@3drealestate.co
