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Looking at buying some property in Southern CO - any realtors/lenders have advice?

2,044 Views | 6 Replies | Last: 2 yr ago by Mortgage Man
ChoppinDs40
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AG
Looking at buying a small piece of property in a neighborhood in Rio Grande County, CO. Has utilities already ran but no building.

Ideally, we'd buy the lot and sit on it for a number of years until we're ready to build (or not).

Any advice or pointers on buying something like this out of state? I know CO property taxes are some of the lowest in the country and their HOA includes plowing and a few other things.
bkag9824
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I take it you have visited several times and have a very good sense of the community, development plans, etc., etc. etc.?

You are correct re. incredibly low property taxes in Colorado. It's fairly straightforward, and taxes are easily calculated by by checking out the appraisal district info. As an example, my effective tax rate on a home in far NW CO was ~0.75%.

Biggest concern in any smaller city/community/undeveloped lot in Colorado is water. Closely followed by water. Then that is closely followed by water. It is incredibly expensive to drill a water well, and a huge PITA to haul water if that's what you're forced into.

Obviously look at fire hazards, etc. Keep in mind that values in southern CO typically do not appreciate at a similar rate to areas along the front range. Very rough generalization though, and each locale is different. E.g., Pagosa Springs appreciates differently that Pueblo, etc.

As a disclaimer, I own a condotel in Crested Butte and owned a primary residence in NW CO. I've given rough generalizations, but I would strongly emphasize having a very clear understanding of your utility situation in a smaller community.

Edit - I realize you said utilities are already run, so the water issue may not be that big of a deal. All the better. I would suggest a whole home water filter and softener.
ChoppinDs40
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Great info. This is in South Fork, CO. The water is an "owned" water district by the community so it seems that's covered. As is waste/septic.

The reason why it's so desirable to me is because that area will be much slower to develop but isn't in the middle of nowhere. Skiing is close enough and surrounded by Gold Medal fishing. Not entirely up in the trees and close to a golf course so hoping my value is somewhat insulated.
Bob Knights Paper Hands
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ChoppinDs40 said:

Great info. This is in South Fork, CO. The water is an "owned" water district by the community so it seems that's covered. As is waste/septic.

The reason why it's so desirable to me is because that area will be much slower to develop but isn't in the middle of nowhere. Skiing is close enough and surrounded by Gold Medal fishing. Not entirely up in the trees and close to a golf course so hoping my value is somewhat insulated.

Plus it's close enough to the Broncos.
ChoppinDs40
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Cowboys fan here so I'll need to get satellite at some point
Ol Jock 99
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https://www.beaumeyer.com/

Beau is an Aggie, realtor, and based in South Fork. I don't know him other than we did an AirBNB of his last year, but seems like a nice guy.
ChoppinDs40
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Ol Jock 99 said:

https://www.beaumeyer.com/

Beau is an Aggie, realtor, and based in South Fork. I don't know him other than we did an AirBNB of his last year, but seems like a nice guy.
awesome - thanks for the reference.
Mortgage Man
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PM me and I can assist with the Mortgage.....
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