Owning a ranch is part of the quintessential “American dream”. It is a place to call home that puts you, literally, in nature’s backyard. Beyond the satisfaction that comes with ranch living, you can also make a small profit if you use it to raise livestock. It’s true that everything is bigger in Texas, and land is no exception. There’s a lot of it, and if you want a piece of it to call your own, it’s there for the taking. However, it’s important to know that it will be different from other real estate endeavors, both in scope and breadth.
A Few Things to Consider When Buying a Ranch in Texas
Many Americans long to own a large piece of land to call their own, but learning how to buy a ranch can be a steep learning curve – not because it is an impossibility, but because it is an unknown venture, one that has its own set of considerations. Carefully thinking about these things can help you as you move forward through the process of buying a ranch in the great state of Texas.
If you are buying a ranch, chances are there will be a stream or waterway of some kind meandering through your property. It is important to know the laws about that piece of the waterway and your rights regarding it.
Many times, ranches will have easements that exist to open the door for future development or roadwork. You will want to make sure you investigate any potential easements on the property before purchasing.
Survey issues can present themselves even when buying a small piece of land in town, and it’s only compounded when buying a ranch. It’s important to make sure you are aware of the property lines, restrictions about land-use, zoning, flooding issues, and more. Before you buy a ranch in Texas, you should know the ins and outs of the land and all that has happened (or is authorized to happen) on it and to it.
4. Find A Realtor You Trust
This is huge. You need to find someone who will be honest about issues that need to be addressed and who knows the current market. A good realtor is communicative, honest, and on your side. Arguably, the biggest advantage you can give yourself when embarking on this new endeavor is having someone knowledgeable in your corner who knows exactly how to buy a ranch and is willing to walk you through the process.
5. Start Small
The size of ranches can vary greatly in Texas, and nationwide. A small ranch is usually around 100 acres, and they only get bigger from there. The sky’s the limit when it comes to owning a Texas ranch, but most gurus agree to start on the smaller side, and then working your way up is a good way to ease into the ranching lifestyle.
6. Think Through All of the Costs
It’s easy to underestimate the cost of something like buying, owning, and operating a ranch – especially if you are new to the business. It’s wise to talk to your realtor and banker to ensure that you don’t get in over your head. Owning livestock and land can be expensive, so starting small and knowing your risk are two ways to make sure that you land on your feet.
It seems the scariest step for most people when they are making big life decisions, and that’s totally understandable. Calling a realtor should be your first step in the right direction so that they can walk you through the steps needed to buy a ranch in Texas, setting you on your own path to ranch ownership.