As you begin your home search, creating a list of wants and needs will help you stay focused and make the process less stressful. Think big-picture items like price, location, and amenities. Smaller details like paint colors, window blinds, roof material, etc. can be changed after you purchase; we want to make sure that we aren’t ruling out otherwise perfect properties. Using this guiding list, you and your RealtorⓇ will work together to narrow down your search and find your next home!
Beds, Baths, and Square Footage
A great place to start is the basics: the number of bedrooms, bathrooms, and overall size. Do you need three bedrooms, or would two plus an office work? Would two bathrooms and a powder room feel right, or do you need three full bathrooms? Square footage varies greatly, from 500 SF tiny homes to 10,000+ SF mansions, so consider how much space you want to enjoy and maintain. The goal is a home that fits your life comfortably, not one that feels too tight or too overwhelming.
Single Story & Multi-Level Homes
Some buyers prefer the ease of single-level living, while others want the separation of space that multi-level homes provide. It’s important to consider whether a two-story home with main level living (common areas, kitchen, and primary bed/bath) is adequate or if you truly want no stairs anywhere for accessibility.
Garage Space
Garage space is often much more than just space to park your car. Many use this space for storage, workspace, home gyms, and much more, and there are a variety of features including: attached/detached for ease of access, heated space, electric, water, and other utilities. Think about how you’ll use the space - do you need height/depth for oversized vehicles or RVs, extra room for toys and tools, or would outdoor parking and an outbuilding suffice? There are options like tandem garages (cars park bumper to bumper), pull-through garages, or bump outs for added storage even if another vehicle wouldn’t fit. Instead of a four car garage, would a two car garage and ample outdoor parking space suffice? Or would an oversized outbuilding provide enough room for vehicles and storage/workspace?
Location
Southwest Colorado offers a variety of location options, each providing something a little different. There are many in-town neighborhoods for easy access to downtown and conveniences, while rural properties can offer bigger lots and more privacy. You’ll want to consider school districts, commute time to work, views, etc.; the “right” location is the one that supports how you want to live day-to-day.
Homeowner Associations
HOAs aren’t for everyone, but they can be a great fit for some buyers. They may include services like snow removal, road maintenance, and maintaining the look and feel of the neighborhood, but can also limit property usage and require monthly, quarterly, or annual fees.
Acreage
The desired size of your property will tie closely to your desired location. The majority of in-town residential lots are under one acre. In more rural areas, the acreage increases, which can add more privacy. With the advantages of owning 10 or 100+ acres, the responsibility increases with items such as fire mitigation, wildlife considerations, and insurance. Consider if you are looking for usable land or whether you simply want privacy from neighbors? In Southwest Colorado, we’re lucky to enjoy thousands of acres of BLM and National Forest lands. Some properties border these lands, which can substantially increase the privacy of your property.
Equestrian Property
Southwest Colorado offers a wide range of horse properties from hobby farms - ideal for a couple horses, gardens, and perhaps chickens or sheep - to proper equestrian properties equipped with riding arenas, stables, cross fencing, and more. It’s important to ensure that the HOA or other local governance allows the type of livestock you want to keep and whether there is a limitation on the number of animals you can have on the property.
Water Rights & Waterfront Property
Southwest Colorado has multiple rivers, streams, and irrigation ditches that provide properties with water rights for irrigation, fishing, and other recreational use. Similarly, natural water resources are highly coveted. If you’re looking for water, do you want a specific river or moving water for ambiance and recreation, or will a seasonal creek or pond work? Do you want the ability to irrigate your property? While live water can add great value to your property, it is also important to consider the responsibility and maintenance.
Year Built
A home’s age may hint at style and systems, but it doesn’t always tell the whole story - we have many historic homes that have been beautifully remodeled and updated. It’s important to go in eyes wide open if you are purchasing an older home, as some of the materials used in the original construction may require removal or updating. This could include items such as lead paint, asbestos, outdated electric wiring, and aging systems/appliances (HVAC, boilers, plumbing, etc.). Newer homes are generally priced higher and offer turn-key convenience.
Purchasing Land for a Custom Home
Depending on your wants, needs, and resources, designing and building a custom home to fit your requirements may be the best option. This can be a more time-consuming and expensive option, but will result in achieving your wants and needs. This process begins in much the same way; determining your parameters from budget to location to style of home. From there, build your team of designers/architects, contractors, and RealtorⓇ to help you find the perfect property for your dream home.
Throughout the course of your real estate journey, these wants and needs may evolve. The main goal of this exercise is to avoid confusion, burnout, and buyer’s remorse so you can purchase a home that will provide for you in the current life phase. The Durango Team at The Wells Group is always available to help you through your real estate journey. For more home buying and selling information, please don’t hesitate to contact us.
See our complete buyers guide here.
