Large, Custom and Trophy Houses Around Fremont County Colorado

Custom, Large, Trophy, Homes, Houses, Fremont County Colorado It appears that very large, custom, trophy houses are selling again in Canon City, Cotopaxi, Tallahassee and other Fremont County areas.  Several of the houses that have sat on the market for years are selling. There are fewer 4000+ square foot houses with granite counter tops, hardwood floors and other luxuries going into foreclosure. There will always be a few of these type houses on the market but the existing inventory seems to be getting smaller. Good news! The supply and demand are changing. Good news again!

So what does that mean to the potential buyer looking for this type property? First, be prepared for the houses you are looking at to have more interest in them. Regardless of where these homes are located and with less consideration for price these houses are selling. Second, Where once you may have been the only person looking you now have competition on the same properties.

Expect new building to start again. Maybe not with a BANG but with some common sense. Consider the following when building or buying your custom mountain house.

1) Location: Always something to consider. But as baby boomers age consider how long it will take to get to grocery stores, doctors and family. Also, are services like trash, delivery services, utilities willing or able to get to you year around or on a timely basis. If the power goes out and the snow is deep it may take a while before you’re out of the dark or propane and packages can be delivered.

2) Cost: It’s not just the cost per square foot to consider. Again, the price to get utilities to you may be considerable. Is the acreage you’re looking at have electric nearby? If not you might want to get solar (Photovoltaic) power. Very efficient but solar will cost you up front to set up.Consider consulting a well driller for the cost and availability of water. Call a propane company and find out how often they deliver to outlying areas.

3) Customization: It’s your house, it’s your money. But someday, even years from now, you or your family is going to want to sell your custom house. Make sure the imported woods, custom artist light fixtures, and original design for the fireplace are something you really want.  The next owner may not appreciate your taste and may not want to pay you for it. In fact the potential buyer may want you to replace these things before they make you and offer.

4) Builder Plans: Consult a qualified builder! Even if you’ve got your heart set on a house plan you designed yourself or found in a book. Homeowners are notorious for changing and adjusting house plans. Ask your General Contractor or home builder if your plans make sense, trust their experience. As a real estate agent I’ve seen homes that were altered by the homeowner and not for the better. Yes, your home your money but rely on experience and common sense. Please don’t make it difficult to resell this house.

5) Financing: As you plan on building your Custom Trophy house you are no doubt working with a budget even if you are paying for the entire project yourself cash you’re hopefully decided how much you’re going to spend and on what. But keep this in mind as well. Years down the road when you sell the house the next buyer may not have cash and may have to finance.

Financing changes often and what loan qualifications banks require change very often. But more and more banks do not consider much or any value in outbuildings. Banks with loan qualifications look at the primary residence (house) first. Appraisers may not be allowed to give things like extra detached garages, barns, horse stalls, sheds, guest houses, storage sheds, tractor barns or other out buildings any consideration. This may or may not also apply to additional adjacent lots.

6) HOA’s:  Homeowners Associations, HOA’s seem to be losing favor lately. Consider what the benefits of an HOA maybe to you. Originally designed to protect property values from things like odd paint colors, excessive cars & traffic, animal issues. Now around Southern Colorado many HOA’s seem to exist for road maintenance and building types. When you purchase land within an HOA your house plans may have to go in front of a board made up primarily of future neighbors. But do a little research and find out some questions to ask before you buy in an HOA. Can you shoot on your own land? Hunt on your own land? Can you hunt within the HOA? Can you camp while the house is being built? What are the rules for “camping” during the build process? Does the HOA have the right to foreclose on properties if dues aren’t paid? Gate Codes? NOW there’s an issue. Who has gate codes? Just property owners? Each property owner has an individual code? Do emergency services have their own codes? Do delivery services have their own codes? How often are codes changed? What if an issue arrives because a protected code has been given out and now there’s an issue with break ins? Does road maintenance agreements exist on paper? (Banks want this for financing, loan conditions)

7) Consider Energy Efficient ideas, Universal Design and repurposing building materials when planning your new home. There are dozens of TV shows that can explain these concepts. So why build just another custom home? Insert some creativity!

 

Building a trophy or custom home is the dream of so many people, it’s exciting! And NOW might be the right time to put out your blue prints and polish your dreams. Interest rates are still affordable and existing luxury houses are becoming scarce.

It appears that very large, custom, trophy houses are selling again in Canon City, Cotopaxi, Tallahassee and other Fremont County areas.  Several of the houses that have sat on the market for years are selling. There are fewer 4000+ square foot houses with granite counter tops, hardwood floors and other luxuries going into foreclosure. There will always be a few of these type houses on the market but the existing inventory seems to be getting smaller. Good news! The supply and demand are changing. Good news again!

 

So what does that mean to the potential buyer looking for this type property? First, be prepared for the houses you are looking at to have more interest in them. Regardless of where these homes are located and with less consideration for price these houses are selling. Second, Where once you may have been the only person looking you now have competition on the same properties.

 

Expect new building to start again. Maybe not with a BANG but with some common sense. Consider the following when building or buying your custom mountain house.

 

1) Location: Always something to consider. But as baby boomers age consider how long it will take to get to grocery stores, doctors and family. Also, are services like trash, delivery services, utilities willing or able to get to you year around or on a timely basis. If the power goes out and the snow is deep it may take a while before you’re out of the dark or propane and packages can be delivered.

 

2) Cost: It’s not just the cost per square foot to consider. Again, the price to get utilities to you may be considerable. Is the acreage you’re looking at have electric nearby? If not you might want to get solar (Photovoltaic) power. Very efficient but solar will cost you up front to set up.Consider consulting a well driller for the cost and availability of water. Call a propane company and find out how often they deliver to outlying areas.

 

3) Customization: It’s your house, it’s your money. But someday, even years from now, you or your family is going to want to sell your custom house. Make sure the imported woods, custom artist light fixtures, and original design for the fireplace are something you really want.  The next owner may not appreciate your taste and may not want to pay you for it. In fact the potential buyer may want you to replace these things before they make you and offer.

 

4) Builder Plans: Consult a qualified builder! Even if you’ve got your heart set on a house plan you designed yourself or found in a book. Homeowners are notorious for changing and adjusting house plans. Ask your General Contractor or home builder if your plans make sense, trust their experience. As a real estate agent I’ve seen homes that were altered by the homeowner and not for the better. Yes, your home your money but rely on experience and common sense. Please don’t make it difficult to resell this house.

 

5) Financing: As you plan on building your Custom Trophy house you are no doubt working with a budget even if you are paying for the entire project yourself cash you’re hopefully decided how much you’re going to spend and on what. But keep this in mind as well. Years down the road when you sell the house the next buyer may not have cash and may have to finance.

Financing changes often and what loan qualifications banks require change very often. But more and more banks do not consider much or any value in outbuildings. Banks with loan qualifications look at the primary residence (house) first. Appraisers may not be allowed to give things like extra detached garages, barns, horse stalls, sheds, guest houses, storage sheds, tractor barns or other out buildings any consideration. This may or may not also apply to additional adjacent lots.

 

6) HOA’s:  Homeowners Associations, HOA’s seem to be losing favor lately. Consider what the benefits of an HOA maybe to you. Originally designed to protect property values from things like odd paint colors, excessive cars & traffic, animal issues. Now around Southern Colorado many HOA’s seem to exist for road maintenance and building types. When you purchase land within an HOA your house plans may have to go in front of a board made up primarily of future neighbors. But do a little research and find out some questions to ask before you buy in an HOA. Can you shoot on your own land? Hunt on your own land? Can you hunt within the HOA? Can you camp while the house is being built? What are the rules for “camping” during the build process? Does the HOA have the right to foreclose on properties if dues aren’t paid? Gate Codes? NOW there’s an issue. Who has gate codes? Just property owners? Each property owner has an individual code? Do emergency services have their own codes? Do delivery services have their own codes? How often are codes changed? What if an issue arrives because a protected code has been given out and now there’s an issue with break ins? Does road maintenance agreements exist on paper? (Banks want this for financing, loan conditions)

 

7) Consider Energy Efficient ideas, Universal Design and repurposing building materials when planning your new home. There are dozens of TV shows that can explain these concepts. So why build just another custom home? Insert some creativity!

Building a trophy or custom home is the dream of so many people, it’s exciting! And NOW might be the right time to put out your blue prints and polish your dreams. Interest rates are still affordable and existing luxury houses are becoming scarce.

About Dena Stevens (719) 369.9087

Putting the 'real' into REALTOR since 2004 Ask about vacant land, ranch land or residential properties. Loyalty and devotion are things buyers and sellers expect from their Realtor as well as the fiduciary responsibility of due diligence. Dena is a certified Ecobroker, focused on sustainability, energy efficiency and the environment and is a Certified Sales Professional from the Association of Home Builders. Specialties: A client once said "you put the 'real' into REALTOR" to me. I took it as a complement and I've been using it ever since, I'm a no nonsense kind of person. I've been helping people buy and sell real estate since 2004. Associate Broker REALTOR Certified Sales Professional (CSP) Short Sale Foreclosure Resource (SFR) Ecobroker GHSP The Fair Housing Act is a federal act in the United States intended to protect the buyer or renter of a dwelling from seller or landlord discrimination. Its primary prohibition makes it unlawful to refuse to sell, rent to, or negotiate with any person because of that person's inclusion in a protected class.
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