Buying A Horse Farm !!INSTALL!!
Many horse farm buyers have dreamed of the day they could wake up, make a cup of coffee and go out and care for their own horse. This is a very emotional and exciting process for them, and they will have done lots of research.
buying a horse farm
Do your research, and also find out if the property is going to have adequate water for equine needs. The average horse drinks five to 10 gallons of water per day, so having a deep well with high yield will come in handy filling 150 gallon troughs.
Horse people have a lot of equipment for the care and riding of their horses, and this all needs to be kept somewhere, usually called a tack room. This is where saddles, bridles, blankets, grooming supplies and more are kept.
Horses are not physically able to vomit. This can lead to an episode of colic, or severe stomach pain, and can be fatal. A horse-proof place to store grain is a must. Ideally, the storage should also be rodent proof, as well.
If homeowners are in areas with wildfires, they need a plan for how to get their horses to safety. In areas that may flood, they may need to trailer their horses out to somewhere higher and drier well before the storm even begins.
If a huge snow is expected where they may be snowed in, they need a plan for how to get to their barn to feed and water the animals. If the barn is two miles from the house, they will need heavy equipment to make sure they can get to their horses in a timely manner.
By addressing these 10 key horse facility concerns in your marketing, you will be helping prospective buyers check off the must haves on their needs and wants list. If the property you are selling is coming up lacking in a certain category, have a plan for what could work for them instead.
Before purchasing a large parcel of land, you need to make sure that it has the proper zoning designation. Just because the acreage seems perfectly fit for horses, is remote, or has no neighbors does not necessarily mean you can put horses on it. You should look land that is zoned AG (agricultural) or the city or county may not allow a horse farm.
On average, a single horse can drink anywhere from 5-10 gallons of water a day. Therefore, it is crucial that the horse property you are considering has access to plenty of drinking water, like ponds and/or automatic watering systems.
To sell a horse property, you need a different approach than your typical residential home. Selling a horse property, or horse farm, is nothing like selling a common run-of-the-mill residential home because you have to find a specific type of buyer who is willing and able to afford your property.
Simple economic principles tell us that the higher something is priced, the less the supply. One factor is people are unwilling to spend, for example $400,000 or more, on a home and farm. The other factor is that few people can afford to spend that amount of money on property.
For example, you or your real estate agent can put flyers up at tack shops and feed stores. They can sell direct-mail letters to boarding stables or riding stables. These options will put you in front of horse owners or people who have an interest in horse properties.
The reason we add our state to the search term is to add specificity. We might get eyeballs on our listing on HorseProperties.net, but the issue is that we might get potential buyers who would NEVER live in Michigan, so they will never buy that horse property.
Clean out the barn. Eliminate as many cobwebs, sweep away debris, and clean up after horses daily. Drag and manicure the arena to appeal to competitors who use the space. Get rid of clutter and personal items so buyers can imagine living there.if(typeof ez_ad_units != 'undefined')ez_ad_units.push([[336,280],'dolinskigroup_com-large-mobile-banner-2','ezslot_10',110,'0','0']);__ez_fad_position('div-gpt-ad-dolinskigroup_com-large-mobile-banner-2-0');
However, you can shorten the time it takes to sell and get closer to asking price by following some of these tips. It all starts with a sound marketing strategy. If you plan to sell your horse property, look for someone who has experience creating and executing a strong marketing strategy for horse properties.
We have that kind of experience and you can learn about Jim and Becky who needed to sell their horse property so they could move down to Florida. After an unsuccessful try with a traditional real estate agent, they called the Dolinski Group and we helped them get it sold.
A commercial horse boarding operation does not include any operation where the primary on-site function is horse racing.Farm production begins with the preparation of the soil or other growing medium, or with the beginning of the life cycle for animals. Farm production ends when the product is ready for sale in its natural state. For farm products that will be converted into other products, farm production ceases when the normal development of the farm product has reached a stage where it will be processed or converted into a another product.
A computer that will be used predominantly in either farm production or in a commercial horse boarding operation, or in both, can be purchased without the payment of sales tax. This includes a computer used predominantly to:
Motor vehicles, trailers, ATVs, boats, and snowmobiles that are used predominantly in farm production or in a commercial horse boarding operation, or in both, are exempt from sales and use taxes. In order to be exempt, the vehicle, trailer, ATV, boat, or snowmobile must be used for farm production on property actually farmed or on property actually used in a horse boarding operation, or both. Usage can be measured by hours of use or by miles traveled.
Building materials that will be used to build, add to, improve, install, maintain or repair real property used predominantly in farm production or in a commercial horse boarding operation, or in both, can be purchased without paying sales tax. These tax-free purchases may be made by a farmer or commercial horse boarder, or by a contractor hired to do the work. Note: The exemption for purchases of building materials by contractors, subcontractors, or repairmen is available only if the materials become an integral component part of a building, structure, or real property used predominantly in farm production or in a commercial horse boarding operation, or in both.
Charges for installing, maintaining, servicing, or repairing tangible personal property, or for maintaining, servicing, or repairing real property, used or consumed predominantly in farm production or in a commercial horse boarding operation, or in both, are also exempt from sales and use taxes.
Non-highway diesel motor fuel that is used in farm production or in a commercial horse boarding operation, or in both, can be purchased exempt from sales and use taxes by giving the seller Form FT-1004, Certificate of Purchases of Non-Highway Diesel Motor Fuel or Residual Petroleum Product for Farmers and Commercial Horse Boarding Operations.
Motor fuel (gasoline) and highway diesel motor fuel cannot be purchased without paying sales tax. However, a farmer or commercial horse boarder can use Form FT-500, Application for Refund of Sales Tax Paid on Petroleum Products, to claim a refund of sales tax paid on these products when used in farm production or in a commercial horse boarding operation, or in both.Additionally, a farmer (but not a commercial horse boarder) can use Form FT-420, Refund Application for Farmers Purchasing Motor Fuel, to claim a refund of the motor fuel excise tax, the petroleum business tax, and the sales tax on motor fuel (but not diesel motor fuel) used directly and exclusively in farm production.
Primary expenses of horse riding stables: a riding stable needs to purchase and provide housing and care for horses used for riding lessons. A horse riding stable must also pay for liability insurance if a rider is injured, as well as employing a riding instructor and support staff.
Horse training is an especially difficult horse business model to make money from. Unlike breeding and riding operations which can be fairly easily scaled (i.e. made larger and bigger without the business owner investing equally large amounts of time), horse training businesses generally require a huge time investment for the owner/operator and for that reason tend to be less profitable.
Although above, we have outlined three common models by which horse businesses make money, the most profitable equine businesses are those that can combine multiple income streams. For example, while paying only one farm mortgage and one liability insurance policy, a farm can exist as both a breeding operation and horseback riding stable- while also bringing a horse trainer on as an employee to offer horse training services. Even more additional horse business income can be gained through adding any of the following services:
All of these are great ways to supplement the income of horse businesses so that your horse business makes a profit and stays in business long-term, helping to promote equestrian hobbies and provide access to horses for people in your region.
Although in a moment you will see solutions to using a VA loan to buy a large property for horses, there are common hurdles buyers and property owners run into. For buyers, price may be a concern as homes with acreage and extra buildings could cost a lot. For instance, some horse farms have hunt box homes. These may make the property unique, yet if there are similar sales it could be possible. Next, many loan programs have acreage limitations such as a 5 or 10 acres maximum.
Even if the buyer or farm owner qualifies for a mortgage, there is the appraisal. Not only must the property appraise for enough, the appraisal must include recent sales of similar properties. Therefore, a property with 30 acres would need to be compared with other similar sized homes with similar acreage. Fortunately for VA eligible borrowers, VA appraisals typically allow the appraiser to be flexible in comp distance. Because horse farms are usually in the country and unique, similar sales could be 10, 20, or more miles away. 041b061a72