Home to four seasons and some of the best mountain ranges in the U.S., owning a piece of recreational property in Colorado is a dream for many outdoor enthusiasts. If you’re buying land for sale, Colorado offers the opportunity for residential and agricultural development, and you shouldn’t overlook the recreational benefits either.
A recreational property lends itself to recreational uses, such as hunting, camping, fishing, skiing, ATVing, and more. These benefits are intriguing for people who love Colorado outdoors because they can enjoy all their favorite activities in their own backyards.
However, in addition to the personal benefits, owning recreational property for sale in Colorado offers savvy income-producing opportunities. If you’ve been looking at recreational properties, the investment benefits might push you over the edge to pull the trigger on a purchase.
1. Tax Deductions for Vacant Land
You can deduct investment expenses as personal itemized deductions on Schedule A. When you purchase recreational land, you most likely will not begin renting it out to make money right away. But, even if you’re holding onto a recreational property for personal use or waiting for it to appreciate, it still offers numerous tax benefits.
2. Recreational Land is Easy to Rent
Recreational land is a hand-off investment opportunity compared to managing a rental house. You don’t have to worry about difficult tenants, lawn care, fixing fences, leaky roofs, faulty plumbing, or any other tedious tasks of a landlord.
Instead, you only have to maintain a recreational property to the extent the recreational activity requires. For example, if you purchase a Colorado hunting property for sale and intend to let others hunt on the land, you most likely only have to maintain the gates and fences.
3. Recreational Land is a Long-Term Investment
Recreational land has the power to make you money while costing you very little in the long run. Whether you purchase recreational property for sale in Colorado with cash or a loan, you still get a break on utility bills, property insurance, and property taxes (in some locations).
Plus, Colorado land almost always appreciates. If you purchase a recreational property now and decide to sell it in 20 years, it’s a near-guaranteed profit.
As Mark Twain famously said, “Buy land. They’re not making it anymore.”
4. Buying a Recreational Property for Personal Enjoyment
Maybe you don’t want to purchase vacant land, but rather a recreational property that you can live on too. Then, you can walk out your front door into a Colorado outdoor paradise.
There are many recreational properties for sale that have a dwelling and land. You can still enjoy the benefits of using or renting your land for recreation; the only difference is that you live on the property too. It’s a win-win for many investors!
Explore Recreational Property For Sale in Colorado
Colorado is the place to make your dreams of owning recreational land come true! To learn more about buying and selling recreational properties in Colorado, contact me at United Country Real Estate Western Land & Lifestyle Properties or explore my current listings here.