The responsibilities of feeding, grooming, training, and riding a horse are great lessens for children, but housing a horse in the yard of the typical American home is rarely possible. This leaves horse-owning families facing the option of either paying a significant monthly fee to board the animal at an area stable or shopping for a suitable horse property to purchase.
For families who choose to live frugally, investing in a horse property of their own can be a smart financial decision. If you are considering the purchase of this type of property, the following tips can help you make it as frugal as possible.
Purchase a property suitable for multiple horses
While you may currently only need a property large enough to house and exercise one horse, purchasing one that will comfortably house a few more can lead to some opportunities for income and profit. To make your child's horse ownership experience as frugal as possible, consider renting out the additional spaces to other parents who may also be looking for a place to house their child's horse and tack.
In addition to the potential for rental income, a larger property will likely increase in value much faster than a very small one, making it possible to sell it in the future at a significant profit.
Look for existing infrastructure
Properties that include perimeter fencing, a training pen, and a suitable shelter with stalls and storage for tack, feed, supplies, and hay can often be purchased for less than the cost of a vacant property plus construction and labor costs to build new infrastructure. Additionally, it is wise to look for features that will improve your child's experience with their animal, such as well-established grass in the paddocks and water service or a drilled well for watering the animals.
Consider a rundown property
Like homes, horse properties that are a bit rundown and in need of minor repairs and clean up may be available at a significant savings over those that are more market ready. When considering an as-is horse property, it is important, however, to pass up any that have serious repair issues that will require expensive repairs or renovations.
To get professional guidance in finding the best deals on horse properties in your area, prospective buyers should opt to work with a seasoned real estate professional who specializes in this equestrian properties.
By taking the time to explain your desire to find a horse property that will serve as both a safe place for your child to experience horse ownership and an investment for the future, your agent will best be able to help you find the property you need.Share