WATER: Water in Colorado is controlled by the state and the state's water rights. Water is divided into two separate considerations, live water on the property, like a stream or pond, and water to drink, from a water association system or a well. The state still controls both. First, drinking water. Many subdivisions within Teller County have water associations. You pay a tap fee and then monthly water bills. It is still well water, but the association is in charge of monitoring the well and insuring the quality of the water. If there is no association, then you will need to drill a well. The state will issue either a household or domestic well permit. If it is less than 35 acres you will be issued a household permit. Literally speaking you can only use that water inside the house. No washing of the car, no watering the garden, no watering the horse or other animals. If you buy more than 35 acres then you can get a domestic well permit, which will allow the watering of domestic animals. There are a few exceptions, and there are ways to get around the regulations, but there are not many exceptions and the alternatives are expensive. Second: Live water on the property. Live water is owned by the state. A stream may pass through your property, but it is still state owned. The water in the stream belongs to whoever owns the water rights down stream. Technically you should not allow a horse to even drink from the stream. You also cannot dam the stream to create a pond. Some property will come with a pond. This does give value to the porperty. Water is not plentiful in Colorado. What is called a stream in Colorado might be called a ditch in another state. What we label a lake could be called a pond somewhere else. We have seasonal streams here, which may have been dry for years. Water is a critical issue in Colorado and should be considered seriously. Our water laws may not be what you are used to.

BOUNDARIES: Every owner wants to know what they are buying. However, some owners do not know exactly where those boundaries are. A survey may be needed to determine the exact lot lines. This can be time consuming and expensive. A contract should spell out how the boundaries will be determined and who will pay for that determination.

ACCESS: Most access will be by public road, but Colorado has a lot of private roads. Who maintains that road and at what cost? Is the road on a north face? If so, it may be very icy in the winter months. Some access may only be seasonable. Is it a paved road or gravel? How do you feel about long stretches of gravel?

PERK & SOIL TESTS: If you are planning on building soon, or it is a small lot, a perk & soil test should be a contingency of any contract. The perk test will be used for the septic determination, the soil test for the foundation. The two tests together cost between $500-600. That expense is usually born by the buyer as an inspection cost.

FINANCING: There are a few lenders who do land loans, however most vacant land purchases are by cash, or owner financing. If a seller is going to carry the note, first they have to own the property free and clear so they can carry the note. Then they need to clear enough cash to cover the costs of selling plus put some money in their own pocket. Otherwise there is no motivation to sell. Commission is normally about 10% of the sales price; plus a seller has the cost of title insurance, and a few other odd charges. 25% down payment, 10% interest, for a period of time, with a balloon payment in 3 to 5 years is typical. The seller will also want credit information in order to make a sound business decision.

COVENANTS: Many subdivisions have covenants, which can control what kind of dwelling is allowed on the property. It will usually also control whether horses or other animals will be allowed. It may control fencing. Depending upon what you want to do with the property, covenants can play a major role in your decision.

PRIVACY & VIEW: Most people looking for vacant land want both. Privacy can be anything from not seeing another living soul, to not being close enough to listen to your neighbors argue. Views are another ambiguous quality. Is it a view of Pikes Peak? Or a view of a tree covered hill? When telling an agent you want privacy and views, be specific. If you really don't know, drive around and see how different areas make you feel. Also realize that the trees or hills that give you privacy may also hide the view. Sometimes a choice has to be made. Which is more important?

HORSES & OTHER ANIMALS: Colorado and horses seem to go together. Many people find it hard to believe that in some areas horses are not allowed. Teller County allows horses provided that you own at least one acre. Covenants will determine if horses are allowed within a subdivision. The state will determine if those horses can be watered. If your are considering other animals, decisions will need to be made on a case-by-case basis. Don't assume that anything goes.

MOBILE HOMES, MODULARS, AND STICK BUILT HOMES: Many subdivisions have architectural control committees. Before building you must submit plans for approval. This is to ensure the standards of the community. The covenants will determine whether mobile homes are allowed. Many areas in Teller County do not allow mobile homes. Modulars on a permanent foundation qualify as regular homes. However, there are areas that are trying to keep modulars out.

LOCATION: The location of the subdivision and the location of a particular lot within the subdivision can vary greatly. South facing and north facing slopes can make a huge difference in the value and usability of a lot. If you have never lived rural, then you should consider what the impact would be on your style of living. If you are not familiar with Teller County, I suggest driving around in different weather conditions and at different times to get a real feel for the area and pay attention to how it makes you feel.

I suggest only buying land because you want to live on it someday. Buying land for investment purposes is not necessarily the best place to make your money grow. Selling land can be a slow process.

I hope you have found these comments helpful. If you have further questions not covered here, I would be happy to talk with you. Please call for an appointment. These thoughts are only my opinion based upon my experience and education since beginning my real estate business.