One critical item to look into in any area of interest is WATER. There are some problems in many areas of CO, ranging from the division of water rights to the treatment. There are sundivisions/developments/communities which have their own treatment plants which are not functioning properly and risk being shut down. This is not only critical to your use, but can affect value, as well. If your water stops, who would buy in your potential area? Therefore, the value can be minimized.
I don't want to make a big scare item about it or go overboard, but do your homework. ASk the questions and, if you get serious, get the answers in writing. In an area with which you are not familiar get a lawyer when you start to do something. One specializing in real estate and familiar with the particular community involved. The initial consultation probably will be $250. - $300. It will be the cheapest and most effective mon ey you'll spend.
Colorado is beautiful and if I didn't want to avoid the cold I'd be searching there myself. ANywhere from the Durango area to some areas around Ft. Collins. I would try to avoid the very large cities, as anywhere.