Posted: Tuesday, March 28, 2023
Author: Vinny Delgado, Partner, Ranch Sales | Licensed in MT
Dear Vinny,
I am looking to purchase a large piece of property and want to not only cultivate the current aspects of the property but add value to the land. What projects can I tackle to add value to my property? Are there some projects that will add more value than others?
- Adding to my Asset
Dear Adding,
It is difficult to give specific recommendations without knowing your exact situation, but if you have possible irrigation or water enhancements, I would start with that. Do you have irrigated acres that could be upgraded to more efficient pivot irrigation systems? Do your water rights allow for more acres to be irrigated that you are not currently using? If these opportunities are available, I would dive in headfirst with a reputable irrigation company that can help design the right system for your ranch. Building ponds, new fences, and cleaning up debris and junk are great ways to enhance your new purchase. Other simple things like riding/hiking or ATV trails along identified paths will not only help when it comes time to sell but will be enjoyable for years to come. One of the cheapest enhancement endeavors one can make when purchasing a ranch is taking pictures of everything going on: the good, the bad, and the ugly. Once you decide to sell, those pictures are priceless to the next ranch buyer. The biggest mistake I see is building a huge compound. Be prepared to take fifty cents on the dollar if you overbuild a ranch with residential infrastructure.
Best of luck with your new purchase!
