When searching for Equestrian Property in the Boulder area of Colorado, you have several options of what kind of property to buy. It is prudent to understand the differences and terminology of the different real estate terms while you are shopping for land so that you appear as an experienced buyer. Everyone knows that knowledge is power and there is no need to be ignorant, especially in such a valuable investment as Equestrian property.
Some important realty terms that will be discussed include the difference between types of land that you will encounter for sale. These will include such terms as lots, ranches and farms. Each of these three terms has different characteristics.
One of the first things you must consider when beginning your hunt for equestrian property in the Boulder, Colorado area is the question: will you and your family be LIVING on the premises? This is important because if you WILL be living on the property, you will not only be shopping for a home for your equestrian animals, but you will also be shopping for a residence for yourself as well! This factor is crucial, because it will no doubt determine how much you will be able to invest in buying your equestrian land.
Also, it is important to consider that often the acreage is so large in a spacious state such as Colorado, that the land for sale is not yet fully developed. This is a plus for the potential property owner for two reasons. First of all, the buyer will have extra land to savor the natural beauty of the landscape, and enjoy it with their equestrian companions. Secondly, there is a wonderful potential for the landowner to develop the land when and where they see fit. Since they have purchased the land, there is no hurry to build on it and this fact gives the land owner plenty of time to think about what kind of development they would like to put on the extra land, be it a guesthouse, a training area for horses, an extra barn or two, etcetera.
The opportunities are almost endless (as long as zoning laws are followed, of course). It may be a serious consideration to buy equestrian land that is not fully developed because of the potential of your own development and also, undeveloped land can usually be purchased a wonderfully low price.
The following are some terms that the potential Equestrian land purchaser should familiarize themselves with.
Equestrian / Residential Land: This includes land that has on it barns, stables, training rings and/or trails specifically made for horses and usually other barn animals as well (pigs, sheep, ponies, donkeys, etc.)
Also, on these plots of land, there is usually a dwelling built specifically for people. The close proximity of the residence with the animal’s residence makes it easier for people to take care of their horses and take them on daily rides as well.
This type of property though, is usually the most expensive category of equestrian property, often has the lowest total acreage and the highest development (in other words, least room for potential development by potential new land owners).
Nevertheless, every potential equestrian home buyer is looking for different aspects of land, so this type of developed land (Equestrian / Residential Land) appeals to many potential property owners.
Equestrian Ranches usually devote a majority of their land to equestrian use. This type of land often may be favorable to commercially-related equestrian companies who host trail rides and other equestrian-related tourism and entertainment activities.
These type of equestrian ranches usually have a high volume of barns, stables and training areas / arenas for the horses, as these types of facilities are also known to be training areas for new horses or even top-notch training facilities for race horses.
However, there is so much variety out there, the individual may find an equestrian ranch property that meets their needs and their price and they will opt to purchase this type of property for themselves.
Equestrian Farms: In this type of property, it is not usually dedicated solely to equestrian-related activities. The property is zoned for farm animals, which, of course includes horses, but the function of the farm may be more than what horses can provide, such as breeding, etcetera.
Usually, this type of property is not dedicated to housing human residents, however there may be a small house for a family to keep an eye on things 24 hours a day and in case emergencies occur. Of course, as mentioned before, an individual or an individual family may “fall in love” with a specific Equestrian Farm and like the amenities, the location and the potential for their own development on the property, and they may decide to purchase this type of land.
However, it is always good to know the terminology so that when you are negotiating a price, you are knowledgeable about the property you are interested in. If the realtor knows what you are looking for and what your intentions are for the use of the property, they may just have the property for you.
Undeveloped Lands: Undeveloped Lands have both their pros and their cons. First of all, the pros. Usually, you can purchase large lots of undeveloped lands and amazing bargain prices, which is a great plus to every potential equestrian land buyer. Also, since there is so much room and potential for development, the buyer can use their imagination to basically create their own “fantasy” equestrian land, complete with a house for the family, barns, training arenas for the horses, stables, riding trails, etcetera.
There seems to be no limitations, except of course, financial constraints. However, a savvy land owner can even conquer that obstacle by saving their financial resources and developing their land little by little.
An additional option that buyers of undeveloped lands possess is that they can bring in friends and colleagues to help with the financial resources needed to develop on the land, basically by “sharing the land,” either permanently or temporarily.
Another option that many new buyers of undeveloped land have is to ‘flip’ the land. This is similar to how houses are ‘flipped’ in the housing market. The buyer would buy the land at a low price, fix it up to upgrade the property to a ranch-style or other type of more-developed type property, and put it back on the market for a profit.
There are many opportunities for purchasing undeveloped equestrian land. The purchase of undeveloped land is certainly an adventure upon itself.
There are cons too, however, that the owner of undeveloped land must also be aware of. First of all, there is a LOT of work involved! Also, the land is not developed, so it is certainly not “move-in ready” as many of the developed property lots usually are.
Additionally, even though the acreage of underdeveloped lands is usually vast, they are also often also empty, desolate and lonely. These lands are often hundreds of miles from any major cities, which can make turning the desolate and lonely lands into usable land a major undertaking.
However, many adventurous people would not see these aspects of the property as obstacles or disadvantages, but instead they would see them as interesting challenges and learning experiences.
Also, when all is said and done, a buyer will hopefully have the pride to have transformed his or her desolate and undeveloped land into the equestrian property of their dreams. They will have satisfaction of a job well done and increased pride in the fact that they put the time, energy, financial investment and creativity into making the property the one that they always wanted.