Equestrian properties are hugely sought-after.
But it’s important you do your research before committing to buying one as they’re also a huge investment, too.
This guide outlines everything you need to do to buy an equestrian property and the things you should consider before taking the plunge.
What is an equestrian property?
An equestrian property is a home that also has stables and other facilities for horses, and usually a considerable amount of land and trails for riding.
Can you get a mortgage on an equestrian property?
Getting a mortgage on a property that comes with equestrian land, outbuildings, an arena and stables will depend on whether you plan to use your equestrian property as a business or simply as somewhere to home your own horses.
If you’re planning to run your equestrian property as a business, perhaps as a riding school or a livery yard, you could explore the possibility of a commercial mortgage to fund your purchase.
Commercial mortgages are calculated based on the returns from the business being run at the property rather than the incomes of the buyers.
However, if you’re looking to buy an equestrian property to home your own horses as well as yourself, you may be able to obtain a residential mortgage.
For advice on the type of mortgage you’ll require and to explore your options, speak to a specialist equestrian mortgage broker or lender.
How to buy an equestrian property and things you’ll need to consider
Buying an equestrian property is often just as straightforward as buying a standard home.
But there are also a whole host of things you’ll need to consider at various points in the process…
1. Establish your budget
Equestrian properties can be expensive – simply because of the amount of land that comes with them and the size of the buildings that land is home to.
So, it’s hugely important to set yourself a manageable budget before starting to search for equestrian properties to view.
2. Explore online
Take a look online to see what kind of properties are available for what price.
This will give you a much better idea how far your budget is likely to stretch and will enable you to consider some compromises you may have to make to find a property that fits within that budget.
3. Location is key
Location always plays a big part when searching for any kind of home and equestrian properties are no different.
You should look for an equestrian property with plenty of land, but also one that’s close to main roads and motorways if possible, so you can easily transport your animals around.
Equestrian properties close to major transport routes can be more expensive, however, so consider how important good road links are to you and your needs.
4. A ready-made property or a doer-upper?
Buying a completed equestrian property that you can move straight into alongside your horses will often cost you more.
You could consider a property with enough land for you to build stables and outbuildings on for your animals, but you’d also need to consider any planning permission requirements, as well as the costs of building work.
5. Consider grazing needs
When viewing an equestrian property to buy, think about how much land you’ll need for grazing.
This will largely depend on the number of horses you have, but generally, you should try to buy as much land as your budget will allow.
This will mean you can rotate grazing between paddocks throughout the year.
6. How much house do you need?
It’s important to remember that your equestrian property needs to house you and your family as well as your prized horses.
But the house itself is often one area where you can compromise – after all, you can always look to improve or extend the property later on, whereas your horses will need adequate space and land from day one.
7. Speak to agents
Register your interest with agents who specialise in equestrian property and don’t rely solely on what you see online.
Building relationships with agents may mean you get early access to a newly listed property before other buyers.
And in a busy, competitive market, that can be worth its weight in gold.
8. Put yourself in a strong position as a buyer
If you have a property to sell before buying your dream equestrian property, put it on the market as soon as you can.
You should also make sure your finances, legal support and funding are in place as early as possible, so sellers know you’re serious.
What is an equestrian tie property?
An agricultural tie is a restriction that limits who can occupy a property.
For example, an equestrian property with a tie may restrict occupancy of that property to someone who is employed within the agriculture sector – for example a farmer.
Horses and equestrian activities don’t usually fall within the ‘agriculture’ classification, so if you’re buying a property already being used for equestrian activities, it’s unlikely it will have a tie.
However, if you’re looking to buy agricultural and farm land and want to construct outbuildings for horses, you should always check for any ties on the property itself.
Do horse facilities increase property value?
In areas of the UK where equestrianism is popular, such as here in the South West, properties with horse facilities often sell for a premium.
Buying land and property and then developing horse facilities can be a great way to boost your home’s value if there is strong demand for that kind of property.
With any kind of mortgage, there are steps you can take to give yourself a better chance of being accepted – take a look at our guide to find out more.