Elise Waldron, Peak to Peak. In the current mountain market, many buyers are frustrated with the high price tag of homes in the area. Shaking their fists in frustration, many are considering buying land instead, to build their own homes in hopes of spending less and getting more. If you are included in this fist shaking movement, here are some important things to consider before purchasing land.
Access- There are three main considerations when it comes to accessing land in the mountains. First (and most importantly), figure out if there is legal, deeded access to the property. This can usually be verified when reviewing title work. Second, you’ll need to determine the distance between the building site and the road. This will impact or determine how long the driveway will need to be to cut in and maintain moving forward. Lastly, find out if the road to the property is town/county maintained or privately maintained. If the road is private, the responsibility and cost to maintain and plow the road falls on the property owners located off said road. Be sure to verify if there is a verbal or written road maintenance agreement in place.
Grade/slope- Steep lots are often more affordable and may have better views, but the cost to excavate a level building site can quickly eat up the money you thought you were saving.
Exposure- Which way does the property face? The slope and facing direction of a property can have a big impact on your way of life. For example, North facing lots have great views of the divide, but can feel cave like and hold snow/ice most of the winter months. South facing lots, get great sun year round, but you may have difficulty finding one with divide views. Another important consideration: if you can see the divide, it is going to be windy.
Utilities- When searching land for sale online, you may have come across listings with obscure statements like, “utilities nearby,” which could mean they’re at the end of the road or a mile away. Determining the exact distance to utilities is very important because the cost to run them to a building site can vary widely depending on how far the nearest source is located. In some situations, you may even find that living off the grid (i.e. solar w/propane generator back-up) may be your best and most affordable option.
Price - If you want a level lot that is south facing with divide views and backs up to National Forest, it is going to be very expensive. If you want a south facing level lot with divide views, a water feature and backing up to National Forest, it is going to be very, very expensive. If it is cheap, it is likely very steep, very narrow, north facing and lacking access/easement.
In the end, knowledge is power my fellow fist shakers! When looking for land, do your due diligence and hopefully you will end up spending less and getting more.
Elise Waldron is a realtor and broker associate with Coldwell Banker and can be reached at 303-250-2771 or by email at elise.waldron@coloradohomes.com.
(Originally published in the October 18, 2018, print edition of The Mountain-Ear.)
