It’s easy to get caught up in the romance of the self-sufficient Colorado life. The idea of working outdoors in the fresh air, finally giving up your commute for good and living off the land, can be highly appealing — especially in a place like Colorado, where the natural world is truly special.
If you’re determined to buy a hobby farm, though, know that it’s crucial to look before you leap. Whether you’re interested in personal homesteading or turning a profit from your new venture, make sure to do your due diligence before signing on the dotted line.
1. Understand the Zoning
If you’ve found an ideal farmhouse with several acres of fertile land, first check that it’s zoned for agriculture. Local bylaws will determine everything from the number of chickens you can have to whether you can sell vegetables on a farm stand at the street.
2. Know Your Water Rights
If you plan to farm in earnest, you’ll need access to plenty of water to irrigate your crops and keep your animals healthy. Make sure you understand the ins and outs of Colorado water rights for any property you consider, since this could make or break your hobby farm.
3. Plan for Storage
You have your eye on a gorgeous piece of land, but are the outbuildings sufficient for your needs? Consider the number and condition of sheds, barns and outbuildings to protect both livestock and equipment.
4. Get Ready to Negotiate
Be sure you know exactly what parts of the farm come with the sale of the land. Are there machinery components or animals that the seller is willing to part with? Negotiating a farm sale can be complex: make sure to work with an experienced real estate agent to guarantee the deal is spelled out clearly.
5. Don’t Forget the House
When you’re looking for a hobby farm, don’t focus so much on the land that you forget all about the house. Is it in good condition? Will you be able to live there comfortably while you wait to turn a profit? Don’t forget your daily quality of life when considering a major move.
When you are ready to look for your ideal hobby farm or homesteading real estate in Montrose, CO, be sure to work with an agent experience in farm sales. This is a special transaction that — when done right — can put you on a path to a whole new life.
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Copyright 2017 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017. All Rights Reserved.