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 Tried and True
Posts: 21185
   
Location: Where I am happiest | I would really like everybodys input. When you are looking at acreages,horse properties, what is most important to you? What weighs the most in your purchase decisions? Is it the house? The way the property is layed out and the barns and fencing? How willing are you to put the work in a place to get it where you want it or are you most likely to buy completely turn key move in ready completely updated house even though the price would be quite a bit higher with all the updates done?
Reason I ask.....my husband and I are getting ready to list our house. The property is completely fenced. Dog safe all the way around the parimiter. No dog is getting out or stray dog in. All the horse pasture, round pen, arena is 4 rail pipe fencing. We have 2 seperate horse barns. 1 enclosed raised center isle barn with 4 stalls, no paddocks and then a 1 year old 6 stall shedrow style barn w/ 6 matted stalls and paddocks off each stall. Then we have a brand new ( less then 1 year old ) Hay barn, equipment parking w/ the back roofline extending into the pasture for shade/shelter. We have put drain fields along the shedrow barn and paddocks and brought in massive loads of gravel. We have NO MUD anywhere and my horses have No mud what so ever in their paddocks or any where around. I ( as long as we dont have snow lol) can go out and do all chores in the dead of winter no matter how much rain or snow melt we have had and wear tennis shoes. However, this property has 2 houses on it. The mother in law house we have gutted the inside so it is unfinished, and the main house is older and definatelly not updated. Wondering how much we really need to do to get it sold. Would you buy turn key very nice horse property if the houses needed work for a reduced price, or would you rather buy all completly updated but then property would be substantially higher. If you did the house yourself, property value would increase min. $150k.
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 Midget Lover
 
Location: Kentucky | I would buy. But my husband remodels houses for a living, so if the price was good, then yes.
I looked for acerage, layout, and pasture vs. wooded areas. Our place was a foreclosure so it was a total remodel. We also had to build a barn and fence (still working on fencing). |
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Tried and True
Posts: 21185
Location: Where I am happiest | We have 2 pastures. All pipe fencing. They have been seeded with pasture mix 4 years ago. Very established pasture grass and irrigated. I am anal about my pastures. They have never been over grazed, my horses are not allowed out there in the winter as they would just tear it up and creat mud in the high traffic areas. We drag our pastures to break up manuer in the fall when we pull horses off and mow so they are primed and ready for spring growth. Then I let the grass get a good head start like 6 to 8 in. of growth before I start putting them back out in later spring during the day only. They all come in at night. |
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 Party Girl
Posts: 12293
Location: Buffalo, Wyoming | We have been looking and we actually want some what of a fixer upper. Our biggest thing is the land and water. Everything else I think can be fixed up.
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Elite Veteran
Posts: 1028
| A fixer upper house would not run me away at all. Land and location were most important to me. I've had to redo fencing, plumbing, siding, you name it, and I'm still in love with my place. |
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 Elite Veteran
Posts: 746
Location: Missouri | Land and outbuildings are most important to us as well. We have looked at several than the "land lacked" and have passed them up even though the house was great. |
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Expert
Posts: 1446
Location: California | I would buy that in a heart beat. But up in the NW in the area I live, that would be a $300,000-$400,000 place, as is, unfinished second house and all. |
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Midget Lover
Location: Kentucky | *almost there* - 2015-01-28 1:43 PM I would buy that in a heart beat. But up in the NW in the area I live, that would be a $300,000-$400,000 place, as is, unfinished second house and all.
Same here. Land is $15,000 an acre in my county. |
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Tried and True
Posts: 21185
Location: Where I am happiest | *almost there* - 2015-01-28 12:43 PM I would buy that in a heart beat. But up in the NW in the area I live, that would be a $300,000-$400,000 place, as is, unfinished second house and all.
We are in a very desirable area. Rural, but yet only 4 miles from town. We are surrounded by $500 - $700k properties for a house and 5 acres, no barn and no irrigation water.. We are looking at $350. ? |
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 Ima Fickle Fan
Posts: 3547
Location: Texas | I swear we have bought both our places for the barns... Houses always seem to be a work in progress. So for what you described, that would be a bargain given the potential it has. |
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 Expert
Posts: 2276
Location: ohio-in my own little world with pretty ponies :) | We bought our place last may and we were looking for a good barn with enough room for stalls and hay storage and pastured areas or a good layout to do that ourselves. Our house isn't updated but we plan to do little by little. It's a nice little fame house but could use some upgrades. We ended up buying a cattle farm. Almost all of our property was fenced in with 4 separate pasture areas. A large enough barn for 5 stalls and a smaller barn to use for hay storage.
If your place was something I was looking for (property) wise. I would do the work to the homes.so I guess I'm saying we bought mostly for the barns.
Edited by lexyy12 2015-01-28 12:58 PM
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Tried and True
Posts: 21185
Location: Where I am happiest | I unfortunatelly dont have many pics at all but these will give you somewhat of an idea.
Shedrow barn. https://www.facebook.com/photo.php?fbid=10201241848911956&set=a.10201241842631799.1073741826.1343506975&type=3&theater
Hay barn. https://www.facebook.com/photo.php?fbid=10202576943888496&set=a.1911978802857.2100305.1343506975&type=3&theater
https://www.facebook.com/photo.php?fbid=10202519195764829&set=a.1911978802857.2100305.1343506975&type=3&theater
Pasture https://www.facebook.com/photo.php?fbid=10200898131919246&set=a.1911978802857.2100305.1343506975&type=3&theater
https://www.facebook.com/photo.php?fbid=10200187309229123&set=a.1911978802857.2100305.1343506975&type=3&theater
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Tried and True
Posts: 21185
Location: Where I am happiest | I unfortunatelly dont have any pics of the houses on the computer. Main house is well built, kitchen, dining, living room, 2 bathrooms, 2 bedrooms and laundry/mud room upstairs then downstairs is 2 more bedrooms and living room. I painted the kitchen cabinates, but new flooring it needs, and the walls in the upstairs has 1970's paneling and high/low carpet. lol. BUT, under that carpet is origional hardware flooring that at least in the corner we pulled up looks to be in great shape. |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | ThreeCorners - 2015-01-28 12:11 PM I unfortunatelly dont have any pics of the houses on the computer. Main house is well built, kitchen, dining, living room, 2 bathrooms, 2 bedrooms and laundry/mud room upstairs then downstairs is 2 more bedrooms and living room. I painted the kitchen cabinates, but new flooring it needs, and the walls in the upstairs has 1970's paneling and high/low carpet. lol. BUT, under that carpet is origional hardware flooring that at least in the corner we pulled up looks to be in great shape.
Is this the same place Ed had before you got married? If so, it is in an awesome place and you should be able to sell it fast as is. |
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 Namesless in BHW
Posts: 10368
Location: At the race track with Ah Dee Ohs | ThreeCorners - 2015-01-28 12:48 PM *almost there* - 2015-01-28 12:43 PM I would buy that in a heart beat. But up in the NW in the area I live, that would be a $300,000-$400,000 place, as is, unfinished second house and all. We are in a very desirable area. Rural, but yet only 4 miles from town. We are surrounded by $500 - $700k properties for a house and 5 acres, no barn and no irrigation water.. We are looking at $350. ?
I would buy for sure...AS IS. But I think you'll a little on the low side price wise. |
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 Unknown Drip
Posts: 5624
Location: Back in MT BABY!!! | total performance - 2015-01-28 12:35 PM ThreeCorners - 2015-01-28 12:48 PM *almost there* - 2015-01-28 12:43 PM I would buy that in a heart beat. But up in the NW in the area I live, that would be a $300,000-$400,000 place, as is, unfinished second house and all. We are in a very desirable area. Rural, but yet only 4 miles from town. We are surrounded by $500 - $700k properties for a house and 5 acres, no barn and no irrigation water.. We are looking at $350. ?
I agree...I think listing at $350 in a neighborhood with that kind of property is way to low...espically since you have water rights. |
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| I've bought 3 properties in different areas in the last 8 years. I cannot spend over $200k for property so it has involved lots of looking before I find something satisfactory for me and the horses. First, the land has to be good for the horses and lay right, fences, shed or barn, water. then the house has to be relatively decent. Does not have to be new but in good shape. I don't mind doing some work if the basics are there. The really important things are to have the place, all of it, cleaned up to show. You would not believe the stuff I looked at - OMG! Trashy pastures, falling down barns, no grass, 5 big outbuildings left over from a big farmstead, but now only 5 acres. I called those the 6 acres with 5 acres of buildings! I've purchased from 3 to 30 acres.
I don't think people are as turned away from fixer uppers if it is the right kind - more cosmetic type of stuff and not rebuild the whole thing cause it's an eyesore and falling down. Really watch the shows on tv to get ideas for getting a place ready to show. Make it squeaky clean, and cute - as turn key as possible without sinking a fortune into it.
Good luck. |
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Tried and True
Posts: 21185
Location: Where I am happiest | We also have a 50 ft roundpen, and the outdoor arena is 150 x 300. |
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 Good Grief!
Posts: 6343
Location: Cap'n Joan Rotgut.....alberta | i wouldn't be deterred at all, i would snatch that up in a heart beat....
m |
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 Veteran
Posts: 164
| I'm a realtor. Sounds like a wonderful property. Only caution I would have is make sure the ADU is in financeable condition before you sell. Either fully finished to a house or deemed "addl storage" Typically if it's somewhere in-between, it's hard to finance. If you have any questions, let me know. |
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 Elite Veteran
Posts: 999
Location: Sunny So Cal | I look to make sure my horses have everthing they need. If I am happy with the land, barn, hay barn, etc.. for my horses then I will definitely take the fixer upper human portion of it. lol my animals always come first. As long as the house has irrigation and electricity then I am pretty content.  |
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Tried and True
Posts: 21185
Location: Where I am happiest | UTAHCANCHASER - 2015-01-28 1:24 PM ThreeCorners - 2015-01-28 12:11 PM I unfortunatelly dont have any pics of the houses on the computer. Main house is well built, kitchen, dining, living room, 2 bathrooms, 2 bedrooms and laundry/mud room upstairs then downstairs is 2 more bedrooms and living room. I painted the kitchen cabinates, but new flooring it needs, and the walls in the upstairs has 1970's paneling and high/low carpet. lol. BUT, under that carpet is origional hardware flooring that at least in the corner we pulled up looks to be in great shape. Is this the same place Ed had before you got married? If so, it is in an awesome place and you should be able to sell it fast as is.
Yes it is! So you know. It's much different property now isnt it? lol. The place was a disaster!! We started in the back of the property and worked our way forward. Had the get the horses comfortable and the property functionable correctly. However, we want to make a life changing move so havent done the house as far as remodel yet. My husband is just somewhat worried once you start getting into that kind of price point people want more updated and not the project. However if we did the house, then that would eat up our savings that we have for a down payment on another place so then we would be stuck waiting for it to sell and then it would be for alot more money so further weeding out more buyers and taking longer to sell. Plus then invariably we would be living in a construction zone and I'm not really wanting to do that. lol. We have our eye on the place we want in another state. |
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Tried and True
Posts: 21185
Location: Where I am happiest | HannahRodeoCowgirl - 2015-01-28 3:00 PM I'm a realtor. Sounds like a wonderful property. Only caution I would have is make sure the ADU is in financeable condition before you sell. Either fully finished to a house or deemed "addl storage" Typically if it's somewhere in-between, it's hard to finance. If you have any questions, let me know.
What is ADU? |
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 Owner of a ratting catting machine
Posts: 2258
| We would be interested in something like that, but to be honest, it would depend on the condition of the buildings how much value would be put on them. I'm very interested in the condition of the land, conditions of fences, layout, type of barn (don't do wooden barns, they burn down), and how much work they all need. I'm willing to pay for a turn key set up, with the house in great shape and ready to move into. I'm not willing to pay an inflated price if huge house improvements are needed. House improvements are hugely expensive. I've looked at perhaps 50 properties now, and a lot of them are just too proud of their house. If they brought the price down realistically and based their value justification more on the actual condition of the land, fences, and outbuildings, and understood just how many tens of thousands are going to go into the house and property, they might have more of a ball game.
Often people tack on a lot of extra money over what the appraiser and real estate agent say is a good selling price. |
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 The Vaccinator
Posts: 3810
Location: Slipping down the slope of old age. Boo hoo. | I would list and sell as is and save the money you have for your new property. Most people want to remodel a house the way THEY want it -- and you can probably sell sooner and move on toward your goal of another property. |
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 Strong Willed Woman
Posts: 6577
Location: Prosser, WA | We looked for a long time for our place. All the places we looked at needed a lot of work either inside or out. Actually there were not really any turn key properties for sale that we could find with the acreage we wanted. Your place sounds like a nice setup. I wouldn't want to move. LOL
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Tried and True
Posts: 21185
Location: Where I am happiest | kakbarrelracer - 2015-01-28 6:07 PM We looked for a long time for our place. All the places we looked at needed a lot of work either inside or out. Actually there were not really any turn key properties for sale that we could find with the acreage we wanted. Your place sounds like a nice setup. I wouldn't want to move. LOL
I know Haha. I do love the place and the horses are very happy here. It is quiet and serene with great views. Yet, town is just 4 miles. Major city is 45 minutes by freeway and the major airport is 20 minutes. away. It's a decient sized town, 45k I believe so has a farm store, Albertsons, Macys, Wal Mart and Home Depot plus all the little shops and restaurants but not a big city. We buy our hay from the next door neighbor. His alfalfa field we share a common fence line. He just picks it up out of the field in the bale wagon, just backs in the hay barn and sets the 5 ton cubes down. We dont have to touch or haul a single bale. Tons of barrel racing and the unemployment here is 3%. However, we are 15 hour drive from family, or 2 hour flight. Thats both my family and his. So we are wanting to get closer, within a reasonable days drive in case of emergency and it not take days or major undertaking. |
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Tried and True
Posts: 21185
Location: Where I am happiest | The origional plan with this place, my husband had 6 reined cowhorses. Training bills would put all but a billionair homeless with that many in very short order. His thought was he could move a resident trainer in the small house and have his horses in training right here as there are 10 stalls total as it is now. Well we decided we would be alot further ahead to just liquidate all those colts. We tossed the idea to board some horses and move a caretaker in the little house. We tossed around the idea of renting out the little house which would pay a good part of our mortgage. Then we even really thought beings though it's just the 2 of us, we could move into the little house ourselves and rent out the main house which then that would pay the entire mortgage. ( rent is really high here). So many ways to go and so many possabilities here. We got the property done and the barns and horses done and situated. Just havent made it to the houses yet.
Edited by ThreeCorners 2015-01-28 7:13 PM
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 Friendly horse swapper
Posts: 4122
Location: Buffalo, TX | You can't change the land, so I would say good sandy loam soil and flat pasture is #1 for me...everything else can be changed or upgraded....I buy rent houses and I'm willing to get a deal on something that needs some fixing, and I would do the same on a horse property....you really pay for turn key properties.... |
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Veteran
Posts: 164
| ThreeCorners - 2015-01-28 1:56 PM
HannahRodeoCowgirl - 2015-01-28 3:00 PM I'm a realtor. Sounds like a wonderful property. Only caution I would have is make sure the ADU is in financeable condition before you sell. Either fully finished to a house or deemed "addl storage" Typically if it's somewhere in-between, it's hard to finance. If you have any questions, let me know.
What is ADU?
Additional dwelling unit (The little house) |
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I am a Freak
Posts: 3326
Location: Nowhere Special | I have been looking for a little over a year now and I do prefer a fixer upper type.. Simply because I may not like the same kind of new carpet, paint, trim and so on that you do.. So I would rather buy something for less and do the work myself so I have what I like rather then what you liked and can't afford to change it (if that makes sense) If I could find what you have, affordable here in tx where I'm at i'd snatch it up and skip all the way to the paper signing :)
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Tried and True
Posts: 21185
Location: Where I am happiest | Well I hope for all of you who posted, there are that many in Utah looking to buy the same kind of property. lol. Would love to sell it first week. Thats our goal. I dont want to deal with a bajillion tire kickers. I want the first one to appreciate it for all we've done so far and see the rest of the potential so we can just be done with it. lol |
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 Semper Fi
Location: North Texas | Location, location and location. Then soil in case of horse propetry.
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Real Estate question....horse properties