How Much Does It Cost To Buy A Ranch?

Now more than ever, Americans are flocking to buy their very own piece of land. The idea of owning a ranch is increasing in popularity, and so is the demand. But buying land isn’t as simple or as easy as buying a typical single-family home. There are many things to keep in mind, and one of the most crucial factors of buying a ranch is the cost. Here are some of the extra costs to keep in mind when buying a ranch.

Property Value

The most important thing you want to establish is the baseline cost of the property itself. How much can you expect to pay for your own piece of land? This cost will obviously vary depending on your purchase location (think Texas vs. California), property features, land improvements, zoning rights, the intended use of the land, and property acreage. All of these factors can affect land valuation. Other aspects of the property’s location, such as road access, proximity to town, elevation, weather, and the growing season will also contribute to its value as well. You can expect to pay more for a property that has already been built upon, has access to natural resources such as streams for fishing, and is in a high-demand area.

Because ranches can vary greatly in size and cost, the best option is to talk to a qualified real estate broker who specializes in ranches to narrow the field. Smaller ranches can often be purchased for under $1million while large ranches with desirable features can pull in tens of millions of dollars.

Site Development and Site Improvement

In addition to the potential costs of adding your own site improvements, such as a home and outbuildings, you will typically need to budget for plans, permits, and other legal costs or local fees. These fees can run anywhere from $10,000 to $20,000 in some areas such as Colorado or California. Some communities add impact fees as high as $100,000 in order to discourage development. In addition to the costs of building the structures themselves, keep in mind the potential costs for land surveys, soil testing, utility hookups, septic system costs, excavation, land clearing, well drilling (if needed), landscaping or paving, and more. You will need to work with your realtor and other professionals to have a good idea of the costs involved before making your land or ranch purchase.

Appraisal

Rural appraisals are typically acquired by the buyer of a property in order to determine the true land value and negotiate a deal. Due to federal law, all lenders will require an appraisal before closing a real estate deal. Rural appraisers may run a cost analysis of the land value along with the buildings and any needed improvements, perform a sales comparison with comparable properties in the area, or configure a property value using the projected net income of the site. It is highly recommended that you hire a rural appraisal specialist who is familiar with the area and property type you are looking to buy. According to HomeAdvisor, the average cost of a land appraisal is $1,000 to $3,000, but you can expect to pay as much as $8,000 for an expert opinion in some areas.

Closing Costs

Closing costs are the typical expenses incurred by both buyers and sellers during the sale and purchase of a property. The closing costs can be a large chunk of change, and ranch or land purchases are no exception. When using a lender, there will be many fees and charges, including origination fees, credit report fees, attorney fees, document fees, land surveys, title search costs, title insurance, inspections, and escrow account funds. In addition, there are some statutory costs involved, even if you are paying for your property entirely in cash. These include transfer taxes, deed recording fees, pro-rated local taxes, and other state or local fees. Generally speaking, you can expect to pay anywhere between 3 and 5 percent of the total purchase price in closing costs.

Final Thoughts

Choosing to invest in a ranch property is a wise decision that can bring many rewards to you and your family for generations to come. With the right research and considerations, you can make an informed purchase decision that will add to your legacy and result in enjoyment for many years. At Mirr Ranch Group, we are experts at buying and selling all types of ranches across many U.S. states. If you need assistance with purchasing your new dream ranch, don’t hesitate to give us a call today!

Things To Consider Before Buying Colorado Cattle Ranches

When purchasing a cattle ranch, there are many considerations to keep in mind as you embark on your real estate journey. A cattle ranch in the great state of Colorado will bring you not only the potential for income opportunities but will also give you many years of enjoyment and deliver a wonderful family legacy.

Location

As the saying goes, “Location, location, location!” The location of your future home and property investment is arguably the most important point to consider. The right location can make or break your success. In addition to thinking about property values and future demand, you will need to keep several other factors in mind when purchasing a rural property such as a cattle ranch. Variables such as climate, natural resources, growing season, elevation, land use rights, property access, and more all make a difference in your purchase decision. For cattle ranching, you will want to be sure you are in an area where cattle markets, feed lots, and other resources are easily accessible.

Property Rights, Easements, and Zoning

There are several aspects of rural real estate land sale that don’t typically come up during the conventional home buying process. However, these are some of the single most important factors to consider when buying ranch land for purposes such as cattle ranching. Water rights, mineral rights, and access rights are all critical to the future success of your property. Legal regulations and restrictions can make or break the sale. Access rights determine how you and others will access your property. They can include frontage road access or the use of deeded easements. Water rights allow for the legal use of the water on your property without actually owning it (which is important for cattle ranching), and mineral rights regulate property owner access to natural resources below the surface such as coal and natural gas. Every property will have its own terms and conditions that you will need to determine and consider before making a purchase.

Land Development and Improvements

Some ranchers enjoy developing and improving upon the land themselves, while others prefer to purchase a turnkey property that is ready to get up and running. If you will be improving the property after your purchase, it is important to configure those additional costs into your budget and consider the extra time that it will take to make the necessary land upgrades. These improvements can be very time-consuming and, in some cases, a legal headache as you deal with land surveys, soil tests, connecting utilities, land excavation, and other hassles. However, purchasing a turnkey property can be more expensive than “doing it yourself,” which is another factor you will need to consider in making your purchase decision.

Accessibility and Livability

You will want to find out important details about your property’s accessibility and livability before you make your purchase decision. For many people, a large piece of property is the biggest investment they will ever make. It is, therefore, important to know if some or all of your property will be flooded, blocked by snowfall, or otherwise inaccessible 90 percent of the year.

Harsh climates, short growing seasons, and frequent droughts can similarly be a dealbreaker when it comes to locating the perfect cattle ranch property in Colorado. Do you need to be close to town? If being located next to the big city is important to you, expect to pay more and experience possible competition for your purchase.

Final Thoughts

At Mirr Ranch Group, we have the knowledge and expertise necessary to help you buy your dream Colorado cattle ranch. Give us a call today to learn more about rural land purchases in the Rocky Mountain State.

Types of Wyoming Ranches for Sale

Wyoming is one of the top states with available acreage for sale to those wishing to invest in ranch ownership. Residents enjoy the state’s natural beauty, breathtaking mountain ranges, and abundant wildlife, offering unrivaled fish and game opportunities. But what kinds of ranches are available to those wishing to move to the Cowboy State? When you’re looking for a place to call your own in Wyoming, there are a few different property types to consider.

Hunting Ranches

Common big game found on Wyoming hunting ranches include whitetail deer, mule deer, elk, bear, and moose, while the most common small game hunting includes ducks and geese. The best hunting in the state is in the area surrounding the Yellowstone and Jackson Hole areas. Other attractive hunting habitats include the Green River and the Bighorn Mountains. Many recreational properties also offer convenient access to natural bodies of water for fishing.

Fishing Ranches

Fishing ranches offer unparalleled recreational opportunities for fishing enthusiasts. With private water access and the ability to add your own custom home and land improvements, the investment in a fishing ranch will be an investment you won’t regret and one that your whole family will treasure. Wyoming offers many teeming waters for fishing, including the Snake River and Green River, as well as the Bighorn River and Wind River, where fly fishers can find an abundance of cutthroat trout.

Cattle Ranches

With an ideal climate and a drive of less than three hours to Denver, the southeastern portion of Wyoming is becoming a hotspot for cattle ranches. Wyoming is home to more than 1 million cattle, especially in the southeastern counties of the state, including Albany, Platte, Goshen, Laramie, and Converse. The area also offers access to everything you need to run a successful operation. Cattle markets, feedlots, feed crops, and natural water sources are all easily accessible in southeastern Wyoming. Some cattle ranches also offer recreational opportunities for hunting and fishing.

Equestrian Ranches

The state’s scenic views and mild climate make Wyoming an ideal place for equestrian lovers to call home. A rancher can turn their horse property into an income-producing guest ranch, boarding facility, or breeding operation. Or you can simply enjoy the views and the trail rides with your own family. In your property search, try to find a ranch with existing stables and other land improvements, a place to call home, and lots of scenic trails for riding. Ranches in the southeastern portion of the state have the benefit of being close to the big city (Denver, Colorado), although the best views will be found in the northwestern sector.

Agricultural Ranches

More than 30 million acres of Wyoming ranch land is used to produce crops and livestock. The main crops are hay, wheat, barley, sugar beets, beans, and corn, with wheat and barley production bringing in tens of millions of dollars annually. If you’re looking to start an agricultural ranch in Wyoming, search for a property with large acreage, sufficient rainfall, and other favorable conditions for farming.

Final Thoughts

Ready to take a look at available offerings and buy your dream ranch home? Let Mirr Ranch Group help you locate and purchase the perfect piece of property for you and your family.

Finding the Best Ranches for Sale in Utah

The state of Utah is known for its natural scenery and beauty. Ranching opportunities abound in the areas of hunting, fishing, equestrian activities, cattle ranching, and farming. Any land purchase in this beautiful state would make a great investment opportunity, but how do you find the best ranch for you? What factors should you be looking for? Let’s review some of the considerations to keep in mind when finding the best ranches for sale in Utah for your family.

Most Popular Locations

The northeastern portion of the state is perfect for those wishing to live near Salt Lake City and is home to many cattle, equestrian, and agricultural ranches. In addition, picturesque fishing ranches are available near the Provo, Logan, and Green Rivers, and world-class hunting is available near the Wyoming and Colorado borders.

By contrast, the southwestern part of Utah (near Zion National Park) is ideal for those seeking out a more secluded ranch property surrounded by natural beauty. Southern Utah is less developed than the northern regions of the state, and ranches in the southwestern portion of the state are ideal for hunting and fly fishing.

Wherever you choose to purchase your Utah ranch, you will want to consider important factors such as land elevation, regional climate, the growing season, and availability of natural resources.

Accessibility

You will also need to consider if you prefer to live close to a more populated urban area (such as Salt Lake City) or if you feel more at home in the seclusion of a more rural ranch property. Those who purchase land in the northern portion of the state will have much easier access to medical care, supplies, and other amenities of the big city.

Those who choose a more remote property will need to pay special attention to factors such as access rights, land development, and property access. Are there roads leading to your property? Are those roads accessible 365 days of the year, or are there times when they are flooded or blocked by overgrowth? These are all important questions to ask before making a purchase decision.

Investment Quality and Land Development

It is best to purchase a rural property that has already been set up or used for the same use you intend to utilize the ranch for. But many ranchers buy untouched land with a plan for development. Do you plan on developing your ranch land? Whether you’re looking for a great investment that will stay in your family for many generations to come or are planning on creating an income-generating business, you’ll want to pay extra close attention to current and future property values. Making your own improvements can be a lucrative way to increase your land value and create instant equity in your property.

Final Thoughts

There are many things to consider when looking for the best ranches for sale in the great state of Utah. At Mirr Ranch Group, we help you make the decisions that matter. Give us a call today to consult with us on your Utah ranch purchase!

Best States to Find Turnkey Ranches for Sale

Buying a turnkey ranch may cost you a bit more than developing the land yourself. In fact, you may encounter some steep competition during your purchase process, but you will likely save yourself a large amount of stress. A turnkey ranches allow you to realize your rural property ownership dreams without all the headaches of land development and improvement. No need to worry about improving paved road access, hooking up new utilities, or digging water wells.

So, where are the best states to find properties that have had all the work done for you? Let’s review the options.

Colorado

Colorado offers many opportunities to own your own recreational or income-producing ranch property. With quick and easy access to major cities like Denver and nearby Salt Lake City or Albuquerque, many ranches in Colorado have already been developed and are ready for you to move in and begin your new life on the open range. In addition, due to the state’s unique ecological diversity, scenic landscapes, and ideal climate, you can’t go wrong with a gorgeous rural property in the Rocky Mountain State. Popular offerings include cattle ranches, equestrian ranches, fly fishing ranches, and agricultural ranches for crops such as corn, hay, wheat, and potatoes. Lastly, the mountains of Colorado offer fine opportunities for outdoor lovers looking to pursue additional recreational endeavors such as hiking, skiing, and snowboarding.

Utah

Nearby Utah is another great option for developed rural land, particularly in the region surrounding Salt Lake City. In a beautiful state full of national parks and forests, the area’s natural resources make ranching efforts a breeze. With many acres available at bargain deals, you would be hard-pressed to find a better state in which to begin a hunting ranch or cattle ranch. Deer and elk are the most popular big game available for hunting, and developed hunting land should be easy to find. In addition, many turnkey agricultural ranches are available for growing hay, wheat, barley, and corn. The demand for locally grown cattle feed makes agricultural ranches a worthwhile endeavor in this fine state.

Wyoming

Turnkey offerings in the great state of Wyoming include hunting and fishing ranches, cattle ranches, and agricultural ranches. In particular, the southeastern portion of Wyoming is becoming an increasingly popular area to buy and sell various types of ranches. With close access to Denver, an ideal climate, and high demand for cattle ranching and feed crops, the area offers everything you need to run a successful operation. Those looking for recreational opportunities will be delighted with the natural resources, fly fishing opportunities, and big game available for hunting/fishing ranches. These lucrative opportunities attract many to the Cowboy State each year, making Wyoming a great place to pick up a turnkey ranch property.

Final Thoughts

At Mirr Ranch Group, we’re experts in the unique rural property considerations that come with buying and selling turnkey ranches for sale in many U.S. states. Give us a call today for help finding the right property that is move-in ready and meets your family’s needs!

Best Areas To Find Idaho Fly Fishing Properties

The state of Idaho offers premier trout waters for fly fishing, particularly in the southeastern part of the state. More than 40 game fish species can be found in the state, including the giant white sturgeon, cutthroat trout, catfish, smallmouth bass, salmon, and kokanee.

Whether you’re looking to buy a ranch as an income-producing opportunity or simply as a recreational property for your own personal use, the purchase of an Idaho fishing ranch makes for a great investment and an excellent family legacy. While excellent fly fishing properties can be found all over the state, there are a few distinct areas that make the best fishing grounds. Let’s take a quick look at the available offerings.

Blaine County

Located in the southern central portion of the state, Blaine County is home to more than 140 natural fishing spots, including Magic Reservoir, Little Wood River, and Fish Creek Reservoir. Also known as the Wood River Valley, the region is also home to the Big Wood River and the Little Wood River. The area of Silver Creek is also known for being one of the most spectacular fly fishing spots in the nation. In this region, brown and rainbow trout up to 30 inches in length can be found.

Eastern Idaho

The eastern portion of the state is home to legendary fishing waters including Henry’s Fork and the South Fork of the Snake River. The area’s reputation for excellent dry fly fishing makes the purchase of a fishing ranch in this part of the state a great investment. Local fish populations include the Yellowstone Cutthroat and Snake River Fine Spotted Cutthroat, which are available year-round, as well as a large population of cutthroat, brown, and rainbow trout that typically range from 15 to 25 inches long.

The Panhandle Region

Due in large part to the flowing waters of the Saint Joe River, Idaho’s panhandle region is an excellent choice for fly fishing enthusiasts. Dry fly fishing is available most of the year for native West Slope Cutthroat trout. Part of the river is officially designated as a Wild and Scenic River. Also located in the panhandle is the famed Kelly Creek, which flows into the North Fork of the Clearwater River. Here, anglers can expect to find premium West Slope Cutthroats, as well as crystal clear waters containing native cutthroat trout.

Final Thoughts

With more than 26,000 miles of natural moving bodies of water and more than 3,000 lakes, the great state of Idaho is an ideal place for fishing enthusiasts to call home. Mirr Ranch Group can help you find that perfect fishing property in the right location for your family.