Fly fishing has long been a pass time of ranch owners in the Rocky Mountain West, from the average cattleman to billionaires like John Rockefeller. There seems to be no activity which better embodies the combination of leisure, ranch recreation and stewardship. In Colorado and Wyoming, fly fishing ranches fetch a premium on the market, and are limited in quantity. Thus, when exploring buying or selling a ranch with live water, it is important to consider multiple factors to ensure you maximize value out of the deal.
1. Water Rights and Access
In Colorado and Wyoming, water rights are often more valuable than the land itself. Understanding whether the property has senior or junior rights, and how much water is allocated, is essential. Also, determine if access is private, shared, or subject to public easements. The answers to these question will factor in to the value of the property you are looking to buy or sell. Additionally, there is value in properties which have watersheds that are easily traversable when wading or by foot on the bank. Vegetation management may be necessary.
2. Fishery Quality and Habitat Health
The health of the watershed should be evaluated, taking into consideration species diversity, stream flows, water temperature, and insect life, as well as any enhancements that have been made (or could be made) to improve habitat quality. If plan to run livestock on the property, or already do, ensure you have a plan to balance livestock needs and watershed health.
3. Conservation Easements
Many fly fishing ranches in Colorado and Wyoming feature conservation easements, and properties with rich watersheds are great candidates. Conservation easements along your fly-fishery is something to consider if you are looking to make a lasting contribution to the legacy of the American West, not to mention the income. Though this will devalue your ranch in the long run, it can be a great way to generate income, and to ensure your family can fly fish for generations. Conservation easements are the primary land preservation tool in Colorado and Wyoming.
4. Continued Management
It is important to understand that managing your fly fishing ranch in Colorado or Wyoming is not a one and done deal. Managing a dedicated fly fishing ranch includes stream health monitoring, invasive species control and general population management, seasonal pressure considerations, habitat enhancement projects, and just good old fashioned maintenance.
Summary
Owning a fly fishing ranch in Colorado or Wyoming is a responsibility few have the ability to understand. I have been lucky enough to intimately know the most pristine fisheries in both states. If you are looking to buy, sell or simply enhance the management practices of your Colorado or Wyoming fly fishing ranch, contact Tyler for further insights and expertise!
If you’re wondering how features like water access and fishery quality affect property value or the decision to sell, check out my Landowner Guide for deeper insight.
