If you've never owned horse property before, finding the right one to purchase can seem overwhelming. It's very important to make your choice as carefully as possible because horse properties don't move on the market nearly as quickly as their suburban counterparts on small, single lots. If you make the wrong decision about a horse property, it's unlikely that you'll be able to turn around and sell it quickly. For this reason, it's important to avoid impulse purchases as well as to select the property that best suits your individual needs and preferences. Following are three things that you need to know about buying horse properties.
Consider Looking for Horse Property in the Winter
If you're like many prospective buyers, you tend to look at available properties during the summer months. While this may be an acceptable strategy for residential properties situated in suburban areas, rural properties have different seasonal challenges. A winding country road that's a pleasure to drive on in July may present an entirely different picture several months later when January snowfall makes it almost impassable, and low-lying pastures that appear lush and green in summer may become pools of mud in winter. Looking at properties in the winter means you'll see them at their worst.
Consider Location Carefully
If you've never lived on a rural property before, you probably love the idea of the peace and quiet of country living. But this also has a downside, especially if you've got an active family. Keep in mind that you can more than double the time you currently spend ferrying kids to sports and other activities, and spontaneous trips to the supermarket because you're out of a vital ingredient can kill an entire afternoon. It's also important to consider your commute to and from your job. Many people find that it's better to make proximity to work, schools, and amenities such as supermarkets a priority when deciding which horse property is best for them.
Carefully Inspect Fences and Outbuildings
Those who are inexperienced with rural living often don't pay close enough attention to features such as fencing and outbuildings, which means they may be stuck with expensive repair bills shortly after signing the final mortgage papers. Make sure all barns and fences are in good order, and if they aren't, see if you negotiate a lower price to make up for the cost of repairs. It's also recommended that you use a real estate agent who is experienced with horse property transactions to help ensure that you end up in the right place.