Land in Western Colorado is in high demand. There are numerous attributes that add significant value to property. These include developmental value, water value, forage value, recreation, and not to mention some seclusion and privacy. Each of these listed aspects include several subcategories in which a land owner can capitalize on.
There are two very-opposite aspects to developmental value. Conservation Easements offer landowners the opportunity to realize some of their development value, without actually developing their land. In the case where property is placed under Conservation Easement, certain funding entities will pay landowners to distinguish their development rights. There are also some tax advantages involved with Conservation Easements. On the other hand, some land in western Colorado is opportune for development. These parcels are typically smaller and lie closer to population centers. A landowner could go in any direction with development, dependent on parcel location.
The Values of Water
Water is valuable in itself, especially on a year like 2020. However, there are ways to further increase the value of your property through the utilization of water. Water can be used to irrigate any crop permissible in the area, whether that be sweet corn, peaches, or timothy and
alfalfa hay. Irrigation is vital to the success of nearly any forage and/or crop. Fisheries are also a great way to utilize water on property. Fly fishing and other sports fishing, offer great recreational opportunities, as well as business opportunities. Lastly, water holds great future value. Western Colorado is currently drought stricken, and water will only become more scarce. Looking at water rights of property is largely important when it comes to analyzing both present and future land value.
Forage & Crop Opportunities
Forage can be harvested in multiple ways; whether that be livestock grazing, hay production, or other crop harvests. Proper grazing provides value by decreasing the amount of excess forage on rangeland. This excess that is eliminate by grazing, decreases the risk of fire by decreasing its fuel. Here in western Colorado we see the relevance of that this year. Besides decreasing fire risk, proper grazing benefits wildlife. If grazed correctly, mature grass is grazed allowing fresh, and more nutrient regrowth to present itself. This regrowth is ideal for deer and elk that come down from higher elevation public lands down to private land. Forage also presents opportunities when it comes to raising crops. Western Colorado allows opportunities for farming crops as well as hay crops. Local areas are optimal for peaches, sweet corn, other produce, and hay (alfalfa & timothy hay).
Recreation in Beautiful Colorado
Colorado land offers a multitude of recreational opportunities including fishing, hunting, mountain biking, hiking, camping, and many more. The colorful state offers great landscapes and beautiful scenery. With the growing demand for out-of-town activities, this land is becoming more and more sought after by those living in urban areas; even if it is just for the weekend. Landowners can create business opportunities through this growing demand, as well as provide others with the opportunity to see the beauty that lies in our part of the state.
Seclusion & Privacy is in High Demand
Having space between us has become a temporary normal. Western Colorado land offers seclusion as it is more sparsely populated than other areas of the state. With the increased concentration of people in cities and urban areas, as well as the current pandemic, Colorado land presents a great opportunity to get away from it all. What is better than being surrounded by wonderful scenery and wide open space. What a wonderful place to breathe some fresh air and enjoy the company of the outdoors.
Until next month,