No matter what you are planning to use your equestrian property for – be it a private facility, a training barn or a modest property for a couple of retired horses – equestrian properties don’t come cheap.
It is essential to look at any equestrian property as a long-term investment.
Buy a good property, in a good location, that has been well maintained by its current owners. You can always replace or rebuild infrastructure but improving the location and quality of the land is next to impossible.
This is probably the most important aspect of the equestrian property.
Changing the soil, for instance, is not feasible. Clay, for example, is fine but not necessarily ideal for equestrian properties.
Weedy paddocks that have been overgrazed can take some time and money to get back to a suitable condition. It is important to buy a property where turn-out has been managed correctly, and even more so that you manage the paddocks correctly once you become the owner.
Build Up Equity
Ideally, You want a property that will, on some level, appreciate. Hopefully then, giving you access to built-up equity that you can use towards other investments or improving current ones.
To build up equity, it is important to purchase a property in a good location where the land has been well cared for.
From this foundation, you can add value to the land with new buildings and/or updates.
Look at the potential future use of the property.
Think about what other income possibilities the property may have for you down the road – could you one day host shows on the property, is
Think also about how future investors might look at the property 10 – 20 years down the road if you ever decided to sell. You and your realtor should talk to the municipality and get an understanding of what is happening in surrounding areas that could affect your property value in the future (positively or negatively).
Land Severance Possibilities
Severing the land could be an option as well under the right circumstances. However, if you are in the Greenbelt (which most equestrian properties are) you might be out of luck on this one.
If you are hoping to run a boarding or training facility, you’ll want to have all your numbers figured out before diving in.
Owning a property that allows you to make your own hay is ideal. Even if you can only support it for a portion of the year. It goes a long way with future sales.
Here’s a great article to get you started on the financials and planning of your horse boarding venture.
Take Care of Your Property
I have mentioned this many times because it is essential to equestrian property success.
Look after your land and your buildings. Maintain the property and the buildings as much as possible. If the time comes where you want or need to sell, a well cared for property is going to fetch top-value.
Did we miss anything? Let us know how you look at your equestrian property as an investment?