Tag Archives: Buying

The Insider’s Guide to Buying Equestrian Property

There are some spectacular horse farms and ranches for sale at any given time, so you’re likely to have a wide variety of properties to consider. You may be tempted to dive right in and start touring the areas you’re considering for your property, but we encourage you to be deliberate in your process, because we know the time you put in up front will pay big dividends later on.

To help you, we’ve put together this quick read – a primer of sorts.

So, let’s get started. There’s quite a bit to consider when searching for horse property. We’ll start first with some general questions, and follow that with a list of important considerations to keep in mind when searching for properties. Here we go:

1. What’s your level of interest in horses?

Of course, you like horses, or you wouldn’t have made the decision to buy horse property.

But beyond that, the spectrum ranges from wanting property that can accommodate one or two of your own horses, to a commercial horse facility that specializes in professional training, boarding, breeding, or more.

And keep in mind too, that your level of interest may progress, say from beginning novice to a fully involved professional, which may lead you to a new property or property upgrades.

2. Where do you want to be?

Naturally, there may be many variables that influence this decision, with the basic ones being things like a desire to be near friends and family, or to live in a particular school district or county, or near a particular city. But beyond that, keep in mind that your answer to Question #1 will also bring its own considerations, such as:

  • Desire to be near facilities that accommodate your horse related interests, such as open state land, trails, or particular training or show facilities for specific types of horses
  • Desire to be near the ‘hub of the industry’ for your particular horse activity. This is particularly important if you’re a professional serving a market, or if you’re aspiring to achieve levels of accomplishment in the horse industry. The ability to network easily with like-minded horse people may be a consideration.

3. Do you want to build new on vacant land, buy an existing horse property, or buy an existing property that can be renovated to accommodate horses?

You can specify one or be open to all of these possibilities, and your preference may be influenced by some of the factors to consider as you keep reading.

For now, know that each of these options has its own advantages and disadvantages.

– Building new will enable you to have exactly what you want, but it will also take more planning and lead time, and may be more expensive.

– Buying an existing property is likely to be quicker, and possibly less expensive, but you may not find exactly what you want.

– And buying an existing property that can be renovated may bring some advantages of the first two options, but require planning, patience and vision that not all buyers have.

4. What is your price range or budget? Will it be a cash purchase or financed? Is it contingent on the sale of other property?

Like the answers to Question #3, each of these alternatives has its own advantages.

If you’re paying cash, you should be able to close on your purchase sooner, and possibly negotiate a better price.

If you’re financing your purchase, it’s best to be in touch with a lender in advance, to confirm your buying power and being the application process.

With those broader questions behind us, let’s get into more specific questions and important factors to consider:

How many acres are you looking for?

Think about the layout of the farm – the residence, barn, stable, paddocks, round pen, and storage for equipment, hay, feed, tack, bedding, etc., as well as pastures and hayfields (unless you plan to purchase all your hay), riding arenas and on-site trails.

Are there zoning or other restrictions that need to be considered in the areas where you want your farm?

If you intend to maintain grazing pastures, you’ll want to allocate two acres per horse. Be sure to select properties where horses are a permitted use or allowed under a special use permit.

And be aware of boundary line setbacks, which can vary by unit of government.

Know your soils.

Know what the soil types are before purchasing the property.

During wet seasons, poorly-drained clay and loamy soils in areas of high horse traffic are a maintenance nightmare and can be a health problem for horse’s hooves.

Ideally, barns and paddocks should be on well-drained sandy soils, or if they are on fine-textured soils, they should be graded to promote positive water drainage away from barns and high traffic areas.

Many farms will have a variety of soil types, which should influence the layout of the farm based on the uses for which the soil types are best suited. High loam soils are great for hayfields and pastures to help withstand drought. Agriculturally marginal soils can be used for trail riding, training areas, and turnout areas where horses are kept on hay instead of pasture.

What would you like the topography to be like?

The lay of the land has both practical and aesthetic relevancy. A picturesque horse farm on a rolling, tree-lined landscape has enormous aesthetics appeal.

However, from a practical standpoint, some level ground is desirable for building and training areas. Also, hayfields and pastures do best on level or gently rolling tillable ground.

Topography controls how well surface water drains from the property. Wetlands, swamps, and ‘pothole ponds’ characterize poorly drained areas, which contribute to ecological diversity, but have little practical use on a horse farm.

Access to water

A horse farm operation will use potable water in both the residence and the barn, and depending on the number of horses, the gallons used in the barn may far exceed the amount used in the residence.

Most rural areas don’t have access to a public water supply, so it’s important to have a good well (or wells) available, or that an aquifer exists, underlying the property, from which a good water supply can be developed.

The primary uses of water on the farm are for watering and washing horses, general cleaning, dust control in training areas, and, in some cases, irrigation.Irrigation used to keep pastures green or to water hayfields can exceed all other uses. If available, surface water, from a pond, lake or stream, can often be used for irrigation purposes.

Availability of other utilities and services

Other utilities and services covers wastewater disposal, electrical hookup, heating energy source (natural gas, LP gas, fuel oil), internet availability, cell phone coverage and solid waste disposal. All are important to consider.

In rural areas, septic tanks and drain fields are the most practical way to treat and dispose of wastewater. However, not all soils are conducive to the use of these systems. Percolation tests may have to be done to determine whether the soils are suitable.

Natural gas is the preferred energy source for heating, but many rural areas will only have propane gas available. Horses generate a lot of body heat, so the need for space heating may be limited. Heating wash water and preventing horse’s drinking water from freezing can usually best by done with electricity.

How is the coverage?

Having good internet connection and cell phone coverage is becoming increasingly necessary. Some remote areas may still have connection problems.

How will you manage the stinky stuff?

Horse farms generate a considerable amount of solid waste in the form of manure, and you’ll want to consider how manure will be managed when planning a horse farm purchase. Options are spreading it on the land, perhaps giving or selling it to nearby farmers, or having it hauled to a landfill by a contract waste hauler.

Existing and Planned Structures

Whether you’re buying an existing horse farm or one with existing structures that can be renovated for horse related uses, inspect closely (1) the quality of the structures, including buildings and fences, (2) for the possibility of nuisance problems that result from poor layout or adoptive use, (3) to determine the cost of renovations necessary to fit your intended uses of the property.

Get Help!

Find an agent that truly understands equestrian properties – if they don’t know what you’re talking about when you’re talking “horse”, they can’t adequately represent your best interests. Do your own due diligence to find one with the necessary knowledge.

And last, but certainly not least, consider the neighbors

Horse people are generally quite neighborly and easy to get along with. Generally, they like to network and socialize with people who have similar interests, like horses and country living.

That said, there are people who enjoy outdoor activities with little regard for environmental stewardship or the sensitivity of others, so before purchasing, it’s prudent to ask some questions about the neighbors, or better yet, to meet them personally.

Whew, there it is.

Hopefully, that list of questions and considerations was helpful, and not too daunting. Yes, there’s a lot to consider before buying horse property, or any property for that matter.

But, as the saying goes, it’s also not rocket science, but rather simply a matter of doing your homework and due diligence. And of course, in that regard, it’s also important to work with a qualified and competent Realtor

What is Fractual Ownership and Why is it Popular for Buying Luxury Items?

Fractual or fractional ownership is the hottest new approach to buying luxury items that an individual would not otherwise be able to afford.

Fractual (fractionally actual) ownership allows a group of individuals to purchase a percentage of real estate, luxury car, resort, vineyard, restaurant, jet, yacht, artwork, or even a fine Rolex. Fractual owners or investors reap all the benefits of ownership, but their investment expense is also smaller so they can afford a larger home, yacht, or several watches.

How Fractual Purchases Work

Luxury homes, condos, and exotic vacation homes are the most popular items for fractual ownership. Typically, the title or deed is divided into shares and those shares are then purchased by a group of investors, usually numbering between four and twelve, sometimes as many as fifteen. A management company is often employed to maintain the property and manage the investment. In some arrangements, the owners actually hold shares of a mezzanine structure or company that in turn owns the assets.

Most fractual properties are set up with an ownership agreement or contract that includes some fees to cover the cost of managing the property, details for usage for each owner, and various other guidelines for renting out one’s share or selling it as well as do’s and don’ts for the property. Some groups are formed among friends or family members working with a lawyer to set up the contract. Others are strangers working through a fractual development company or broker. Either way, a sound, clear and concise agreement is key to ensuring a carefree and hassle free investment. And similar agreements can be created and put into place for fractual purchases other than real estate.

Advantages to Fractual Ownership

Although it may sound like a new name for timeshares, fractual ownership is not the same as a timeshare. In a timeshare situation, the purchaser only owns “units of time,” not the property. Additionally, much of the cost of a timeshare, up to 50%, pays sales commissions. Because timeshare ownership is not linked to the property combined with the fact that they have faired poorly in the secondary market, the value of most timeshares have experienced a marked depreciation of their value.

Fractual ownership of a property entitles owners to usage rights but since they own a fraction of the title and deed, their investment increases in value as the property appreciates. Fractual owners are also eligible for any tax advantages associated with owning the asset. Banks and mortgage companies often treat fractual purchases as second-home purchases making it easier to finance them. Lastly, fractual shares in a property or assets can be transferred or sold fairly easily.

Fractual ownership is growing in popularity for other high-end items including jets, yachts, real estate and jewelry. Many of these opportunities are found with companies online. The Internet has opened up markets worldwide for buying and selling everything from abstract art to collectible figurines to fine jewelry to ski lodges in the Alps or a condominium in Madrid. With the practice of fractual ownership, these investments are becoming available to more people with some degree of a disposable income.

Buying A Luxury Home

Living in luxury is something everyone craves for but only a few can afford. People work for hours on end become a workaholic just to achieve their dream of a luxury life. Be it a new BMW or a grand home everything that is expensive can be put in the category of a luxury life. If you cannot actually enjoy a luxury life then there is no point of working hard. Likewise if you are rich and yet lead a simple life what is the point of all the money in those bank lockers? Get yourself a life something which can be termed as luxury. Luxury homes are something which most people spend millions on. It is a passion which has craved through ages and which in turn paves the path for many in the field of interior decoration and luxury home related works.

Now if you understand what a luxury home is you will also understand that it has to be a person from a very high society. To afford one of these you just don’t need from a well to do family rather from a very rich one. Now what characterizes luxury homes in different countries is really different as the way of life varies from place to place. Besides two key elements, i.e. marketing status and property value also largely depends on the geography of a place.

Few factors which are usually used to determine the value of a luxury home are views, availability of different amenities, surrounding areas and homes, waterfronts, commercialization of the place, peacefulness of the area, and lastly but in no way the least: the architectural and historical importance of the place. Remember the better these factors the more luxurious your house is considered and more is the value of the house too.

The emerging popularity of luxury homes is making its market boom like never before. He real estate market is concentrating its resources heavily on luxury homes. Companies are now even coming up with personalized magazines to reach out to their target groups.

It is usual from a luxury proper to start at a low price of a million and climb up to billions from here. You must know however that a luxury home is about the high quality of life and not about the cost involved. People who want to live a luxury life know how not to compromise on quality for prices. Also a home especially if it is a luxury home is the best possible investment in today’s economic scenario.

Many of you looking at luxury homes I am sure are more interested in sea side homes than anything else. However there are few things which you must consider before you actually buy a luxury house.

Now if you get a house on the sea shore you will need to keep in mind that sea water is saline in nature. Its influence on both the house and your cars is actually quite bad. Be it the electrical equipments or appliances everything seems to be affected by the salty breeze. Maintenance thus will be a huge requirement for houses close to the shore. Do not live in the illusion that only on stormy days will you encounter this problem coz it will be actually an everyday issue.

Remember just buying a luxury home doesn’t do wonders. Maintaining it is another challenge which you will need to keep up to. The costs involved in the maintenance will also be equally high as its costs. Bear this in mind before you actually purchase a luxury property for yourself. If you have the money to maintain a luxury property then well and goof go for it and enjoy the live VIP style.

Tips for Buying A Luxury Investment Home

Buying a luxury home is a little different from buying the average tract house. Obviously the expense itself is a large concern, but more and more luxury buyers are using the home as an additional asset in their overall investment portfolio.

In the 1950s the dream was to find a home and pay off the mortgage, now many financial advisors recommend using the mortgage as a way to not only offset income taxes but to leverage capital for other investments. For those just entering the luxury home market, it’s important to know what to look for so that the home not only provides a pleasant living environment, but also appreciates in value.

First and foremost… location. Cities, communities, neighborhoods are all very important factors in purchasing a luxury home. More than many home purchases, finding the right real estate agent can make a huge difference. Your agent should be able to direct you to homes in areas with appreciating value and know the reasons why.

Communities and neighborhoods are also very important. Many luxury buyers look for gated communities; security and privacy are important aspects to the home’s location. If you are looking in a location which offers views, such as a beach town or city, then you also want to have a nice view. Remember that if this is intended to be used as a part of your financial portfolio, then increasing value is a critical part of the home purchase.

There are common amenities seen in most luxury homes:

• Upgraded kitchens and bathrooms

• High ceilings

• Open floor plans

• Specialty rooms, such as library, media, gym, bonus or wine sellers

• Larger garages or parking for more than 3 cars

• Nice outdoor entertaining areas

• Reputation of neighborhood

Get a complete inspection done on the property. Spending a few hundred dollars on this expense you can save thousands in problems that you cannot see. By, getting a comprehensive full inspection you can rest assured that you know everything that is wrong with the luxury property. In the contact for the luxury house you need to make sure that you have provisions to have a complete inspection preformed, and if the inspection finds problems that are going to cost more money that you are willing to invest you can get out of the contract with no penalties. It’s commonplace to inspect suits, dresses, trousers or shoes before buying them. People instinctively know they need to try on clothing to be sure they fit, feel comfortable and are attractive on them. Isn’t it even more important to inspect a home investment before you purchase it?

Luxury homes in the United States have become a great investment tool. The United States luxury home market is still more affordable than most countries. As this trend continues, the value of these homes will rise accordingly. Foreign buyers are flooding our luxury home market with cash. Purchasing a home for yourself in this environment might not only provide you with a lovely home but could appreciate in value significantly over the next few years. A luxury home purchase is a great way to diversify your financial portfolio.

Top Tips for Buying a New Build Luxury Condo

For many people, investing in a new build property can be extremely exciting, with the possibility of tailoring it to exactly what they want proving very appealing. With the option of customizing floor plans and selecting luxury finishes, for many watching their new condo being created before their very eyes can be a thrilling experience.

On the other hand, some people find it difficult to invest their hard earned money into a property which is not yet compete. There can be many rewards to doing this however, so consider the following few points in order to secure the right new build property for you and enjoy the associated benefits.

Firstly, as mentioned above, buying a condo for sale that has not been built yet can seem like a major risk. Ask you can not see precisely what the finished project will look like it can be hard to decide whether it is worth it or not. This, however, does give you a distinct advantage when it comes to negotiating the price of the property.

Very often, property developers offering luxury condos for sale will provide significant discounts on the price, so the earlier you get in the better. Developers are looking to shift as much of the property as possible in order to make a return on their investment, and you could also benefit from the capital appreciation with the property increasing in value over time.

It is worth, therefore, seriously considering this option if you are interested in getting a good deal on your condo compared to other choices out there. This applies when you are looking for a condo for sale for your own personal use or as an investor.

Secondly, make sure that you research the area where the building is being constructed in order to make a good investment with your money. If you are planning to live in the property, it is essential that you find out whether you want to live in the particular neighbourhood, and whether or not it has all the amenities that you could want.

If you are an investor looking for a condo for sale, do thorough research on the property market in the neighbourhood, and find out how much demand there is for rental properties in the area. This will inform you on whether or not the property you are thinking of buying is indeed worth the investment of your money.

Thirdly, you should look carefully into the specifications of the luxury condo for sale that you are thinking of buying. All reputable property developers will have a model condo which will be built to the specifications that you can expect your new purchase to be. That said, make sure you not only visit the model, but ask plenty of questions as well.

Some of the things you should ask about include the dimensions of the property, the finishes and details of the parking facilities and the communal areas. You will often have the opportunity to customize your floor plan, your finishes and integrate appliances and fixtures. Check what is possible with the developer before you make the decision to purchase.

You will also need to check the aspect of the luxury condo for sale that you are thinking of purchasing; what kind of views will you have? Will you be looking out onto a road, a park or into a neighbor’s bathroom window? This can be hard to visualize, so visit the site of the construction to get a clear idea and speak to the developer about your concerns.

Investing in a new build luxury condo can be a great opportunity to get a high standard of property for a reduced price, and is a fantastic solution for both investors and people looking to move into a new home. By following the tips above, it can be easier to make a decision on whether or not the condo for sale you are looking at is the right one for you.