Do you dream of escaping the day-to-day rat race and leaving your urban life behind?
Since the housing crisis has resolved and the economy continues to recover, luxury ranch investment has regained its popularity. Ranch life speaks to the American dream of wide open spaces, connection with the land, and the ultimate in freedom.
As these properties grow in popularity, they are quickly being snapped up by young investors and wealthy retirees alike. There are several advantages that come with owning a luxury ranch. Here are the top 5 reasons why new owners are falling in love with their ranch life.
From winter sports like skiing and snowboarding to warm-weather activities like hiking, biking, and boating, living out west means never having a shortage of things to do in the great outdoors. In the fall, residents enjoy cooler weather, breathtaking foliage, and gorgeous views of the open night sky.
Other popular outdoor activities include:
Ranch ownership is an attractive alternative investment for high-end portfolios. Agricultural land has historically offered steady returns and working or private ranches are considered a safe alternative to AAA-rated or government bonds.
Ranch property comes with the additional benefit of being a tangible asset that you can use and enjoy throughout your lifetime.
Thanks to IRS regulations, ranch owners may also be eligible for special tax treatment. Potential deductions include:
A qualifying 1031 exchange can also be a major tax saver when buying and selling ranch properties.
Colorado continues to grow in popularity as a vacation spot. Many visitors prefer to rent a private home rather than staying in a traditional hotel. Often, they are willing to pay top dollar for exclusive luxury accommodations.
This creates a fantastic opportunity for ranch owners who choose to use their homes as part-time vacation rentals. The convenience lies in the ability to choose when you are willing to rent out your home and to set ground rules for the renters. This may include prohibiting pets, smoking, or overly loud parties.
The rental proceeds are often used to defer upkeep costs. In some cases, the income is used for savings or diversifying into other investments.
Many luxury ranch properties feature waterfront locations, exceptional views, and access to a diverse variety of wildlife. The exquisite floor plans are often comparable to a five-star hotel, and the decoration options are virtually endless.
In addition to a sprawling main lodge, many luxury ranches include amenities such as:
It's important to know that it takes more than a substantial portfolio to successfully purchase a ranch property. Here are some of the most important considerations.
Owning a large piece of land does little good if it can't easily be accessed or enjoyed. Consider distance from private airstrips and airports, hospitals, and attractions like ski resorts or other vacation spots. Ask your broker about the area's climate, views, privacy, and security.
To ensure you purchase the best f property for your needs, you need to have a vision of what it will be used for. Will it be a private retreat for hunting and other outdoor activities, a working cattle ranch, or will it be used for conservation purposes? Each of these scenarios might dictate purchasing a very different piece of property.
Understand that your financial obligations don't end when you sign the deed. There are many ongoing expenses related to ranch ownership. In addition to basic expenses like utilities and taxes, ranch properties require specialized maintenance. In many cases, there will be payroll expenses to cover the costs of property managers and on-site staff.
When purchasing ranch property, it's important to have a clear understanding of your property rights. This includes:
Working with a professional broker who understands the ins and outs of these real estate transactions will help to ensure that you don't run into any unpleasant surprises.
There are few things that make you feel more powerful and significant than purchasing a massive piece of land. Investing in a ranch property allows you to follow the American dream while creating a legacy that you and your family can enjoy for generations.
At Ranch Sellers, we're not just brokers, we're also ranch owners. We have the largest listing of luxury ranches in the American West and can help you find the perfect property for your needs.
With over 40 years of experience buying and selling ranches, we will guide you through the complexities of purchasing your luxury ranch property. Are you ready to start enjoying the ranch life? Contact us today.
If you're looking to buy a ranch, it's best to work with a…
Establishing family traditions is important for families to bond. Find…
Are you in the market for a new ranch to call home? If so, click here…
Are you unsure if buying a ranch is a good long-term investment? Click…
There are many reasons why people are flocking to living on a ranch.…