What you need to know before buying a farm

Interested in buying a farm in or around the Colorado Springs area but don’t know where to start? Let me help guide you on what you need to look into before you make the big move to purchase.  I am a real estate agent in Colorado Springs who has over 10 years of experience in the horse industry. Buying a farm is going to be very different from buying a home on a lot in a city.  There will be a well, septic and land to inspect. Make sure you choose the correct agent to help guide you along the way.  Let me walk you through what you will need to know before buying a farm.

Inspect the septic system and well

After making an offer and getting under contract, be sure to get a well and septic system inspection.  In a typical single family on city water and sewer, you only need to worry about a home inspection.  The typical farm however is not on the usual city amenities like these, you will usually have to worry about a septic system and well.  Ensuring they are in working order and that the well provides adequate water for both the house and any livestock is vital.  It could be costly to discover that the septic system isn’t working properly or the well is too dry to provide enough water after purchasing.

Walk the full property

Walking a half acre lot in a neighborhood is easy, walking a 10 acre parcel of land is a bit more time consuming.  Will your agent go the extra mile and walk the land to inspect with you or for you?  Walking the land can ensure that lot lines are clear, any flaws or concerns are addressed and that the property will meet your needs.  Does the property have holes but you want to have horses on it? Clearly this would be a dangerous situation and could be easy to miss if you don’t walk and inspect the property.  Speaking from personal experience, I have seen land that wasn’t inspected be the site of previous logging operations with holes all over it.  It was incredibly dangerous for the horses on site and could have been avoided.  

Research Zoning 

Before even choosing to make an offer on a place, make sure zoning rules and ordinances are looked into.  How would it feel to make an offer on a place or get under contract, only to realize they don’t allow horses or limit the amount or type of animals allowed? It would be problematic, to put it lightly.  Make sure your agent is helping you to research the zoning of whatever property you are interested in.  

Look into whether there’s an HOA

If there’s a Home Owners Association in place, this could make it so that there are limitations on what you can do on your own property.  Ask your agent if they have looked into whether or not there’s an HOA, if there is, make sure you get a copy and do a thorough read through of any rules or ordinances in place.  Typically, an HOA might limit the number of horses or type of animals allowed. I have personal experience of living somewhere that didn’t allow chickens, limited the number of horses and even limited the number of dogs allowed.  Sounds crazy, doesn’t it? You buy land to have the space to do what you want and they limit you this much.   If this is the case, you may choose to steer clear of a certain property.  

Look into the monthly maintenance

Make sure research is done beforehand on the required maintenance and costs associated with owning a larger parcel of land. I have worked on farms for years and know how much mowing is required and how often fixes to things like fencing and outbuildings is required.  Before making a big purchase like this, please look into how much work you think you might have to put in, as well as the costs associated with it.  Don’t want to mow yourself? Plan to pay someone to help with this then.  Don’t own a vehicle like a tractor yet? Maybe plan to purchase one once you purchase property.  

In Conclusion:

Buying a farm is very different from buying your typical home.  The importance of have an inspection done of both the septic system and well can not be downplayed.  Equally important are walking the property to inspect, researching zoning and looking into any HOA rules and information.  Be sure to account for any maintenance and maintenance costs required for a property before making an offer.  Make sure you have the assistance of an agent who knows how important each of these aspects of buying land is.  Missing even one of these can be a costly mistake.  If you are in or around the Colorado Springs area, give me a call to help you find your dream farm.

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