Whether you want to buy a horse property in Los Angeles for business or personal enjoyment, there are various things to consider before you purchase the property. Buying an equestrian property is not like other real estate properties. The ideal property mostly depends on your needs, requirements, and goals for the investment.
But, you must be careful when assessing the land, its features, and existing infrastructure to determine if it is a good fit for you. Here are a few things to consider before buying a horse property:
Conduct Initial Research
Buying an equestrian property is a major investment. Therefore, you must ensure you are making the right choice. Start by researching these properties to understand the types of lands available, the goals you want to achieve with the property, other investments you might have to make to achieve those goals, and more.
Ask yourself if a horse property aligns with your long-term goals? How will your family feel about it? Will they be willing to move to a horse property? Will this property fulfill your retirement goals? With the changes that are happening in your life, will the horse property suit your lifestyle? Will you have time or labor to manage the property? When answering these questions, be honest with yourself as it will help you decide whether you should invest in the property or not.
Set Realistic Price Expectations
It is essential to have a clear and realistic budget in mind. You can do this after determining the average price of horse property and how much you would make owning a Burbank equestrian center, and will you be able to profit from it. Do you have a sufficient budget to make all the necessary upgrades, renovations, and other repairs needed to bring the property to its topnotch shape?
Moreover, not all horse properties might have all the facilities you want, and the seller is not going to reduce their asking price just because there are various facilities you don’t need. You have to consider the features available on the land, the costs associated with altering them, and/or have new features built on the land to meet your goals.
Consult a Real Estate Agent
When you have a clear vision of what you want from a horse property and what you aim to do with it, you must consult a specialist. Finding equestrian properties in Los Angeles is not an easy task, especially since there are limited properties available for sale.
With a real estate agent by your side, the process will become easier and quicker. They will be able to shortlist the properties as per your goals, budget, and other requirements. The negotiation process will also become smoother with the help of your agent.
Assess and Shortlist Properties
Once your agent finds the right properties that meet most of your requirements, it is time to visit and assess them all. Determine the facilities already available on the land, the natural features of the property, including elevation, seasonal and climate changes in the area.
Determine the pros and cons of all the properties you visit and start shortlisting them further. You should also determine if there are plans or possibilities of the area around the property to undergo development and how it may impact your horse property in the future.
Determine Proximity and Accessibility to Nearby Towns
Another thing to consider is the distance between the property and nearby towns and services. Are they easily accessible? It is essential to have basic facilities nearby, for instance, a hospital, a vet, a fire department, bus or train station, supply stores, and more.
You may also want to consider other factors. For example, if you or your partner wants to continue working their jobs, you want your kids to stay in the same school, or you want to still be near your family. Therefore, you will have to consider the proximity of the horse property to other towns.
Thoroughly Inspect the Property
Once you find the right property, you would understandably want to sign the deal immediately. However, before you make that final decision, you must inspect the property; preferably, get an inspection done by an expert.
A large horse property at a small price is definitely intriguing, but you might end up with a lot of repairs and renovations. Get all the stables, buildings, and fences inspected. Check the foundation of the building, the roof, water system and pipes, drainage system, plumbing, the electrical in the barn. You must ensure that you are making a wise investment.
Owning a Burbank equestrian center is exciting, but it can be challenging to find an equestrian property that best suits your needs. You must work with an experienced real estate agent to find what you are looking for.
Contact Pezzini Luxury Homes right away and our agents will help you find the right horse property in Los Angeles that meets your budget and needs. Dial 1-310-275-2076, and get in touch today!