The housing market has been scorching in Colorado for the past few years. The state has experienced significant population growth, impacting its real estate inventory. As of the end of 2021, the median home prices have increased by 16% compared with the prior year. While the number of Vail luxury homes and Avon houses sales may decrease when mortgage rates increase later this year, the demand for Colorado homes will remain high. Considering this, it’s easy to see why people are buying land in Colorado and commissioning their own homes built.
Investing in land has its considerable advantages as the buyer has the freedom to decide exactly the type of home they want to build. Whether you intend to develop your land into a primary residence, rental property, or vacation home, an empty plot of land bursts with potential.
While some are certain buying land is the right path for them, others are hesitant to get involved. Let’s take a look at some of the factors to consider when buying land in Colorado for residential construction.
It’s also essential to assess the land’s terrain — if it’s rugged, anticipate more work and time to build the home’s foundation. Take note of the closest water and electricity sources, as it’s much easier to hook up these utilities than to pay to have them run to your property.
Where to buy land in Colorado
If luxury homes in Vail are your style, take inspiration from their Swiss-inspired or contemporary styles when you build your own home. Homes in Edwards showcase sprawling, luxurious designs which you can put your twist on when you buy land and build your home.
You can buy plots of land in all sizes, from under one acre to upward of seventy in Edwards, so the sky’s the limit on the size of your home. You can also build Avon houses upon large parcels of land, and the town offers trails, festivals, and water sports on the lake in addition to views of its signature mountains.
Price of land in Colorado
Property taxes on land
If you’re looking to buy property in Colorado, land can be an exciting alternative to buying a pre-built home. Many Vail luxury homes and Avon houses started as a parcel of land — with capital, time, and effort, your piece of land can become one of them as well.
Whether you’re looking to construct your own home or consider pre-built homes for sale in Vail Valley, contact Caroline Wagner today for expert assistance. Caroline and her team are well versed in the sale of local properties and parcels of land and can help you through each step of the process to ensure your acquisition is as smooth and easy as possible. Contact Caroline today to get started!