For those individuals who want a little more space and elbow room, a 35-acre or larger tract may be your Colorado dream. It’s a wonderful alternative to living in a crowded subdivision. The surrounding beauty and privacy are priceless. This size parcel is becoming increasingly hard to find, especially for those quality properties that have a nice balance of trees, meadows and good mountain views. Therefore, prices are beginning to rise, due to the low supply and increasing demand for these quality properties. 35+ acres with river frontage or lake frontage is increasingly high in demand and is therefore a wonderful investment opportunity. The reason for this scarcity is due to the fact that most of Pagosa Springs is surrounded by the San Juan National Forest and the Weminuche Wilderness Area.
You may also wonder why there are almost no parcels available in the 15 to 30-acre range. Colorado has definite subdivision requirements, which make it impossible to subdivide parcels of land into less than 35-acre size without complying with rigorous state and county subdivision laws.
There are a number of important considerations when dealing with a large real estate tract. Certain conveniences, such as roads, water sources, and septic systems must be investigated. If looking at a property during the summer months, keep in mind and ask questions as to it’s accessibility during the winter months. Winter access may be a problem. Electricity can be quite expensive to bring to a property if it is not already close by. Contact the LaPlata Electric Company to find out the cost involved, and the amount of rebate one could expect for the up-front costs incurred to bring a main line to one’s property. If a well is to be the source for water, contact an expert on the expense of drilling a well, and the probability of good, adequate water. Check out your neighbor’s wells and speak with local well drillers. When considering a large parcel you should probably budget between $10,000 and $20,000 depending on the depth of the well.
Central water, maintained roads, and utilities are a real plus, and really add to the value of a 35+ acre tract. Keep in mind that it is rare that 35-acre tracts are sold with mineral rights or water rights. However, if mineral or water rights are to be transferred with the acreage, the rights really add to the uniqueness and value. If you buy a tract that is considered “agricultural” by the assessor, your taxes will be considerably less.
Historically, we have seen good appreciation of this type of property. In today’s market, the price range for 35-acre parcels is approximately $90,000 to over $750,000 depending on the location and desirability.
Being out on your own beautiful 35 + acre piece of Southwest Colorado is truly as close to being in heaven as possible. The words of John Denver’s” Rocky Mountain High” come drifting into your mind as you gaze at the millions of bright stars high in the dark quiet sky, as the cool pine-scented breeze surrounds you. As you sit back and look out over your land and watch all the elk, deer, turkey, bear, mountain lion, and coyote roaming about, you’ll feel so blessed that you are one of the lucky few that know the joys of being a part of the awesome Rocky Mountains.