Purchasing Horse Property Requires Proper Research
by Wendi Phillips, Columnist for the Prescott Daily Courier

Are you dreaming of a home where you can keep your horses on site, or perhaps offer horse boarding or training, or both? How do you know where to look and what to look for when buying horse property? The first step is to analyze what's important to you and what might be important in the future. The second step is to locate a Realtor who understands the details of buying horse property in your selected area.

Alicia Morrison of Coldwell Banker Legacy, who specializes in selling equine properties, says to ask yourself some questions first. Are you breeding, showing or training? Or are you simply the pleasure rider? Will you require an arena, a barn or just a shed row? Will you haul your horses out to ride, or do you want to ride directly off your property to get to the trails?

"When evaluating a property, focus on the actual usable area of the lot," according to Morrison. "If the property has existing horse facilities, is it workable for your use? Sometimes you are better off with a property that has no horse facilities in place and start fresh by building your own."

If you are financing the property, make sure your mortgage lender knows what your intentions are. Horse property does not necessarily fit into the standard guidelines for many mortgages, and you may require a lender who is more flexible or offers loan programs specifically for horse property. A Realtor who specializes in horse property can provide names of lenders who understand horse facilities and any special appraisal requirements.

"You will also want to consider the neighborhood and its restrictions. Some areas may be zoned for horses, but are not friendly toward them. If most of the neighbors do not have horses, they may complain about the flies, the scent or the dust from those who do. Think also about the space you will need for additional items such as tack and hay storage, where you will park trucks and trailers, and whether you will have room for additional horses in the future. How will you dispose of manure? How much of the land is actually usable?" Thompson said. For more information on purchasing horse property, Alicia may be reached at AliciaMorrison@hughes.net or 505-328-5883.


Wendi Phillips is a sales representative for Arizona Title Agency in Prescott. She has 16 years experience in the real estate industry, including general real estate sales and management, new construction and mortgage lending. She may be reached at wphillips@azta.com.