December 16, 2020 by Luxea Global Auctions 0 Comments

5 Things to Know Before Buying a Ranch in the West

By: Jeff Manning

Have you been dreaming of owning a ranch house in the hills of Montana or Wyoming, but are unsure of how to make the move?

Well, now has never been a better time to make that dream a reality. The rural luxury real estate market has exploded as people leave cramped, chaotic cities for the sprawling hills and purple mountain majesties of the west. These places immerse you in raw natural beauty and offer one of the most important luxuries one can afford—peace of mind.

I sat down with one of our lead experts and partners on rural luxury real estate, Tara Petersen, a Luxea Partner Agent and Licensed Realtor in Helena Montana, and asked her what someone should consider when deciding to transition to ranch life from city or suburban living. Here’s what she shared.

Beauty that Fosters Peace of Mind

There’s a reason wall posters and calendars showcasing the great outdoors hang in offices across the United States. Natural beauty’s effects on the human spirit can’t be beat. And if you’ve been pining to speed off on your mountain bike after work every day, with rural living, you can make that dream come true in your own back yard.

Tax Benefits Such As the 1031 Exchange

Purchasing a luxury ranch home can qualify you for certain tax benefits like the 1031 Exchange, which allows you to avoid paying capital gains taxes. So, making the move to your dream property can help you save money.

Passive Income Opportunities

If you decide to purchase a ranch house with multiple acreage, it’s possible to lease parts of your land to agricultural or livestock companies. This allows you to section off your homestead while making return on investment on the land itself.

Management Companies Can Lend a Helping Hand

If the idea of owning 200 acres is overwhelming, know that companies exist to help you manage your property. From conservation efforts to managing cattle or agriculture, you can find the expertise you need in your transition to rural ranch living.

Commuting with Ease

Long gone are the days of limited travel to rural destinations. Today, airlines are bulking up their routes to regions across the U.S., making monthly business commutes easier than you may think.

Questions to ask yourself about ranch living

If you’re sold on the idea of transitioning to rural luxury real estate but still unsure of some of the details, here are some questions Tara suggests asking yourself:

  1. Do you want to be off or on-grid?
  2. Do you want to be close to a town with lots of space between you and your neighbors or deep in the backcountry?
  3. Do you want certain kinds of geographies like lakes, mountains, or rivers outside your windows?
  4. Do you want to raise livestock?
  5. Do you want to grow crops?
  6. Do you want to work the land yourself or hire someone to help manage it?
  7. Are you open to leasing part of your land to outside companies?

In addition, Tara says these properties don’t come up often, so if you find something you like, jump on it.

“In Montana, we have very few big ranches, typically owned by people that have had them in their families for years. They don’t come up for sale very often so when they do, it’s like, ‘Holy moly, I cannot believe they’re selling.’”

Finding and buying your dream ranch home

You might be wondering how to find such a dream luxury ranch home, and we want to help. At Luxea Global Auctions, we pride ourselves on matching you with your perfect lifestyle home, because we believe true luxury is living your life the way you want it. Our easy-to-navigate online platform matches you with properties based on the unique features you desire. Our helpful staff can also help you narrow down the details and see what’s out there.

Our site allows both the sellers and buyers to monitor real time changes such as property bids. At Luxea, we believe transparency allows for quickness, effectiveness, and an overall feeling of well-being when making such a monumental life decision.

And as Tara says, there’s never been a better time.

“If you’re thinking about selling or buying, now’s the time to get off the fence. This is a unique opportunity at this moment in time, and you don’t want to look back in a year and say, ‘That’s what I should have done.’”

Want to learn more about luxury ranch real estate and if it’s a right fit for you? Contact us today.