Building a School - How Much Value Does it Add to Property?

[3Beasties]

This is probably a VERY hypothetical question as it will probably never happen but....

If a school/arena (20x40, basic but good enough to use for whatever the whether!)was added to an equestrian property (large 4 bed house, 3 stables, tack room, barn, 2 acres etc) what value is it likely to add?

Despite having stables/land at home my horses are currently kept at a small private yard elsewhere as we don't have enough land to cope with 2 1/2 horses, it got completely trashed last Winter and has taken a year to recover.

I was discussing with my Mum the options of bringing the horses home again and said that if they came home I would have no option but to fence part of the field off and have it as hard-standing. They could then be on this whenever it was wet in order to save the field. My mum has always been against this as she felt the field was too small already without making it smaller but she now realises that the hard-standing would be a sensible option.

However, during this conversation she pipes up with, 'if you're going to use part of the field up why not just add a school?!' Financially there is NO way I can afford a school (which I pointed out to her!) but she mentioned about it adding more value to the house (which belongs to her) so the bill wouldn't be for me to pay. Anyway, I think it was just a throwaway comment from her that is unlikely to happen but I thought I should maybe look into it for her, 'cos I'm good like that :tongue3: :biggrin3:

 

[*hic*]

That's a bit of an unanswerable. Not everyone who buys what we see as ideal equestrian properties wants horses, to them whilst they would be able to see uses for barns, stables etc (my non-horsey buyer wanted to house his car collection) a school is an utter waste of space!

 

[Honey08]

I don't think that it would add any value at all to the land really. It would only appeal to horsey people. There are so many "horsey" properties in this area that have been sold to non-horsey people who have just let the arenas go to seed and grass over (heatbreaking to those of us who can't afford a school!). I guess to a non-horsey person they are an eyesore. So I would never bank on a school being an added value to a property. It would appeal to most of us on here as we'd all like having horses at home and having a school, so you're not going to get a neutral audience on here for your replies!

However, if you're going to bring horses home and the other option is either a destroyed field or a lot of hardcore in the field, neither of them will attract buyers either, horsey or not! So if you're going to sacrifice the field in some way, a school would be the option that would add the most value, if any. If it were ever sold you can tell the estate agents to market it to non-horsey people as a flat, well drained area that could easily be grassed over or would be great for a kid's allweather play area.

It would increase it's value to an equestrian person. At the moment it is not a decent equestrian property if it can't support two horses all year round, however an arena makes it more possible and therefore more appealing.

 

[TGM]

I think it depends on how much (or how little) appeal your property already has to a non-horsey buyer and how much it has to offer (in addition to a school) to a horsey buyer. The more of a dedicated 'equestrian property' it is, the more likely the school is to add value. As an example, a lovely looking period property with spacious, well laid out accommodation in an area with good commuter links and good schools, plus an acreage that surrounds it and affords privacy is very attractive to non horsey buyers, so a school probably won't add a lot of value. A more dedicated 'equestrian property' might lack the good looks, and the accommodation may be smaller and the land may not be laid out in a way that adds privacy to the property, so is more likely to appeal to horsey owners than the general public. If it has other amenities that appeal to horse owners such as easy access for horseboxes and feed deliveries, competition centres within easy reach, access to good, safe hacking etc., then a school is more likely to add value.

 

[catroo]

Agree with TGM

With small acreage I don't think it will add any value and to some would actually be a reason not to buy as they are costly if they want them removed, bit like a swimming pool as in some buyers will love the property because of it but some will be put off because of it.

 

[Meowy Catkin]

I'd much rather have the hard standing.

 

[Honey08]

I'd much rather have the hard standing.

I would too! I have an allweather turnout area around my yard on which the horses spend all day in winter. If I ever had to move it would be the first thing that I would build at a new yard.

 

[meesha]

I would look at it a different way and add up over the years how much you are going to save by not paying livery if you can bring them home. If you are looking to add value to the property then chatting up the neighbouring farmers to buy an extra 2 acres (even if you have to pay through the nose) is probably your best bet !!

 

[lamlyn2012]

A friend of mine is an estate agent and says that a manege adds no value at all.
You would need to get planning permission for either option as they are both permanent.

 

[honetpot]

You will need planning and then there is the thorny issue of rates, you may end up being assed even if you get rate relief or fight it. How about spending money on proper drainage? Not as expensive and no planning and if you come to sell does not effect the look of the property.

 

[3Beasties]

Some interesting points to consider, thank you. I think it got so trashed last year as I was unable to ride my one horse (she was a complete and utter nightmare!) so I insisted on turning them out daily what ever the whether. As we are on clay the field soon became a mud bath. If they spend Winter at home again they will more than likely be in a lot more.

Hard standing would be the cheaper option but a school would obviously enable me to ride every day as well as turn them out on it.

Planning permission shouldn't be a problem I wouldn't have thought.

We have looked into buying adjoining land but it is a Bulmers orchard and they won't sell.

 

[Polos Mum]

I built a 25 by 40 school - properly done by professional co. it cost £25k, when the specialist horsey estate agents valued the place they put £20k on the calculation for the school. BUT, we have 12 acres, 7 stables haybarn etc, and in an area that wouldn;t appeal at all to the non horsey types at all.

Normal estate agents told me it didn';t add any value and could be turned into tennis courts as that's what most non horsey people do with them (crying shame !!) - BUT equally the total value they gave the place was there or thereabouts the same as the horsey specialit so who knows.

 

[Sprig]

3Beasties - where in the country are you. We are south and lots of the people who buy houses with land are 'lifestyle buyers' and don't actually want to keep stock of their own on it, just want the extra space and security of being surrounded by their own green fields. To that end most of the agents I have spoken to reckon that at best a school will not add value and at worst it will decrease the value as it is considered an eyesore that will cost them money to get rid of.

 

[hnmisty]

It can actually take value off your house.

 

[Fat_Pony]

I agree with no value added I'm afraid.

I pretty much have what you have - 3 bedroom house, 2 acres, 3 stables, barn, large tack room, big yard and a 25x50 arena. I also have a concrete circle where a walker used to be and want to dig it all up, but that is another story!

I have 2 15.2 horses and a 28" mini. Over winter the fields are rested as we are on heavy clay and they won't see a horse until march at the earliest. This year will be later as we have spent a lot of time flooded! My horses are still turned out for 12hrs per day on the large yard with ad lib hay. I open the school up whilst I am doing yard duties so they can have a play and a roll for a couple of hours, but the yard is big enough for them the move around freely so school is closed most of the day or I spend my life levelling and poo picking it. The concrete yard is the best thing since sliced bread, but it has to be a decent size (and with a small area of soft ground or hardcore as otherwise my geldings won't pee!) easy to clean up as I just sweep it all up.

I'd go for the hard standing if I were you.

 

[3Beasties]

Sprig - I'm in Hereford, Welsh borders.

Thanks Fat_Pony, it's good to know that it can work. Where the horses are now they have 6 acres but they have still been kept in pretty much full time for over a month, so really I'm paying to rent a yard when they could have stayed in free of charge at my house. Realistically it's not a long term solution but the hard standing could be. This winter has definitely changed my view on the way I keep my horses. I was very anti keeping them in but now they actually seem happier as they are not stood knee deep in mud. I also prefer it as I am not having to hose them down every night! Obviously it WOULD be better if they are out but I have realised that as long as they are exercised it's not the end of the world if they are in.

There are other benefits to staying at the yard I am at so I'm not saying I'm going to leave it but if they don't re-new the contract in May I will not be panicking. My fields at home will be re-fenced, hard standing put in and I have been offered the use of another small field a mile away (which will be good even if it's just to chuck them on for a couple of days a week!).

 

[Dubsie]

Rather than renting a yard, given you can't buy land next door is there any land down the road or around the corner you could buy to add to your land. I'm thinking that way rather than rent you'd own, 2-3 acres where you are would probably cost the same as adding a school, and you could then cut hay off it too, saving hay costs as well as rent costs, and land will always hold or increase in value.