Buying Country Property
If you can swing it, it’s a great time to invest in country property, interest rates are low and sellers are dealing but don’t close on anything without thoroughly checking the water resources. I’m Susan Allen this is Open Range I’ll be back to give you some tips I’ve learned over my years in real estate. In my past life I sold equestrian property and trust me finding good land for horses is a lot tougher than any residential transaction. The most important consideration in the majority of the western US is water resources. Now I’ve had clients who thought they‘d be fine running stock without water tanks if there was a creek on the property only to find out that it became a trickle during the summer, remember a 1,000 pound horse drinks at least four to seven gallons of water a day. If you are making an offer on property with irrigation rights it’s critical to confirm if the seller actually has the ability to convey water rights and typically that is done through attorneys. Most areas dependant on irrigation laws dictate how much water you can use plus they also have the ability to restrict water during drought. This is especially critical if you are buying property in suburbs facing population expansion and prime farm areas as often both can have top water priority during droughts. Finally, both well and surface water can be toxic, tainted by fertilizers, manure or chemicals. Water should be tested for salts, chlorides and sulfates, E coli and other bacteria and blue-green algae on ponds. Pollutants to watch out for are nitrates from fertilizer pesticides, petroleum products and heavy metal. In the end the best advise I have when buying country property is to have competent advisors!
