Arghh buy a house ... for me or the horses??

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machannah

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So there is a set of 5 stables and 7 acres come up for sale near me, to buy it i would have to get a mortgage and am now in an utter quandry, do i essentially buy a house for the horses or do i stay paying livery and buy a house for me instead? There is no way I can afford both

Currently I have my 16yr old mare, a yearling and another foal due in May so will be paying stabling/grazing for 3 this time next year

Any suggestions???? I really dont know what to do!!
 
Being sensible, I would suggest you buy yourself a house. Your money is usually safe in bricks and mortar and house prices are going up, even though it has steadied of late. Perhaps get a 'doer upper' so you can make a bit on it. When you have a bit of collateral behind you, then look into the field and stables. You really will need somewhere to live, and if you are smart, can make a bit on property too. Are you keeping all three horses ?? Do you plan to sell one of the youngsters? If you only had two, you could poss pick up a couple of acres relatively cheaply, especially if you purchased the land as agricultural land and not pony paddocks, which fetch extortionate prices. Round here, if you are lucky, you can get agricultural land for £4 or £5 k per acre, but pony paddocks go for £12k an acre and more. Hope that helps.
 
Could you possibly buy the yard and rent some stables out to pay for the mortgage?

If the yard is ready to use you could buy that, then in 6 months you could buy yourself a house as the yard is effectively paying for itself through your liveries?

As someone who will also have three horses on livery, I know how much livery costs come to, so I also know how much money you can save by investing a big amount initially (I have worked it out myself as we were bidding for some land a year or so ago).
 
There is plenty of room to keep more horses there, however it doesnt have a school (room to put one in at some point).

I also intend to keep both my youngsters and they will live out with access to a barn if I got the place so could easily rent out 2 or 3 of the stables to other people.

Its such a tough decision...
 
I would by the stables. no question.
renting for human has some security, there are rules. but for the horse/ forget it, YO and farmers do just what they want, raise the rent, kick you out unreasonable rules.
I want my horses safe and secure knowing they cant be chucked off at someones whim.
and if the worse came to theworse you ca always sleep in a stable for a few nights anyway. :-)
 
Stables and land are normally difficult to find so I would buy it without hesitation. Do make sure that it does have plannning permission for equestrian use though. You can then always put in planning permisison for a menage (start without lighting) as this is easier to get). You can then later on buy a house locally or even one adjoining the stables when they become available. Stables and land are a very good investment and follow house prices and in some cases do better than house prices.
 
I have spoken to a mortgage advisor and you can get it on land, however only 85% of the value, you must put down a deposit for 15% (similar to self build)

My gut instinct is telling me go fot it, and both my parents are supporting me if I want to go ahead and have offered to help with the deposit

Thanks for all the advice, its really helpful so I appreciate it
 
i would buy the stables and land, build a log cabbin, rent a couple of stables out, and live happily ever after!!!!
mind you i wouldnt be too fussed if i had to live in a static caravan!!!

sophie xxx
 
The lack of a school would be an issue for me - they are expensive to build and require equipment to maintain. Is that going to be a deal breaker for you?

Otherwise, factor what you will be paying in livery. Are you DIY? Because you will be.
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If the mortgage is what you will be paying in livery then it's a good deal for you. Presumably you will be able to keep living where you live now and don't anticipate the situation changing.

If you decide to operate it as a business can you afford the time to take in liveries or is there a market in your area for DIY without a riding area if you can't? Buying the land and running a business is very different from buying the land for your own use. It's easy to say "rent them out" but you have to factor in what's involved with that, including the responsibility.

Land is always a good investment, but the real "pro" about houses is how they appreciate - people always want houses and the supply is limited. Farms tend to appreciate at a lower rate and are harder to sell. Does the land have/is it eligible for planning permission (or whatever you call it here)? That will make a difference if you are thinking investment.

But if you want a place to keep 3 horses then that's a different matter, particularly if you're going to do that anyway.
 
if it was me, it would be my dream to have a few acres for my boys and 1 livery with 2 horses, not everyone is worried about sandschool facilities!! well im not!
ive always wanted to wake up and look out my window and see my horses! it will never happen but we can all dream!!!

*goes to look on lonely ads for farmers*
 
I am currently DIY, so that wont change. The school is an issue long term, however my mare is in foal (and shes 16) and I will have a 2yr old and foal by next year so its not a need to have just yet, plus I have access to a school at a friends if I need to use one.

There is "potential" for a house, there is an outbuilding at the end of the field which was put up about 20years ago which you could apply for conversion and extension to.

I currently live at home with my parents, and have no issue in staying with them for the forseeable future. Thankfully they are fab and I manage to get on with them really well.
 
These things dont seem to come up very often so I would say yes to the yard - if it doesnt work out or your plans change, you can always sell it again anyway. Hopefully at a nice profit.
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