Buying Land in Colorado

Buying Land in Colorado

Rental Property Investor · Austin, TX · Member since 2015 · 36 posts · 20 votes

Hello! My sister is wanting to purchase land in Colorado and is needing some advice on best location for this (I’m an investor in TX so am trying to help her navigate this purchase). We have found some large acreage listings available in cities like Gunnison and Ouray and are wondering why they have sat on market so long because here in Texas, $350k for 100 acres is outrageously low. We have even seen 40 acres listed for $100k and then a 2,000 SF home nearby listed for $700k on one acre or less. She’s wondering what the catch is; why aren’t more people just buying the land and building? Also- where would you locals with CO knowledge recommend buying land? She wants to eventually build a home on the land and use it as a summer house, so she’s not overly concerned on immediate returns, but I would love for her to buy in a place that would appreciate for her over the next 5 years (instead of 25 years!) and is up-and coming. Any Colorado expert’s opinions would be very valuable! Also any recommendations for local realtors and lenders would be great. Thank you!!

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Contractor · Lewisville , TX · Member since 2019 · 63 posts · 57 votes
7y

@Taylor Philley

I don't know the specifics of the property, but I've been to those areas and some of the land can't be built on. If she is really interested, she should look at the land in person, not photos or relying on someone telling you about it. There is a bunch of land by Alamosa near the Sand Dunes that a bunch of people were scammed on. It's all undeveloped. It looks like the land you see in west Texas that's 10 acres for $500

Some of those areas you're talking about are real nice, but there could be accessibility issues. I guess it all depends on what the use of it would be.

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  • Contractor · Lewisville , TX · Member since 2019 · 63 posts · 57 votes
    7y

    @Taylor Philley

    I don't know the specifics of the property, but I've been to those areas and some of the land can't be built on. If she is really interested, she should look at the land in person, not photos or relying on someone telling you about it. There is a bunch of land by Alamosa near the Sand Dunes that a bunch of people were scammed on. It's all undeveloped. It looks like the land you see in west Texas that's 10 acres for $500

    Some of those areas you're talking about are real nice, but there could be accessibility issues. I guess it all depends on what the use of it would be.

  • Contractor · Denver, CO · Member since 2009 · 399 posts · 166 votes
    7y

    This is a bit of a generalization but land from ft Collins to Colorado springs sells for a premium. Land in the ski towns sells for a premium. Land in tertiary cities sells for a premium. Anything else is rural. Rural land can be bought very cheap just like in Texas... so you really need to get more specific. If your sister wants to live like a hermit in the middle of nowhere with snowmobile only access in the winter, there are plenty of areas that she can buy for under 10,000.... :) I would suggest putting together a list of requirements for her purchase and then It will be much easier to chime in on specific locations.

  • Real Estate Broker · Denver, CO · Member since 2018 · 87 posts · 66 votes
    7y

    I will second what @Emilio Ramirez said here. Property in Colorado is highly localized. For starters, Gunnison and Ouray are very different cities with very different markets. In Gunnison, the closer you are to Crested Butte (Ski town), the more expensive your land is going to be. I would reccomend visiting many of these places and deciding where you would want to buy and build. I know for me and many in Colorado, would rather have a house on an acre near skiing and hiking, than 40 acres in the middle of a windblown mountain valley. 

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