Renting equestrian properties

[Magicmillbrook]

Is there much of a market for houses with horse facilites? Do you or would you rent one?

We have been on the market for ages and are having no joy. Lots of interest and viewings but no one who can proceed. As prices are now at rock bottom OH has decIded to proceed with buying the propeRty we want (a joint home & business venture) using a business mortgage (gulp), so We may end up with two houses (double gulp).

Anyhoo, we were thinking if we have no luck selling within say the next 3 months we might try renting our house out until the market picks up. So, a few questions -

If you were doing a similar thing would you be honest and get a new buy to let mortgage or just rent it out on your existing one?

Is there a market for what we have - 3 bed, 2 reception period semi, good condition, clean neutral decor, lots of parking (cars and lorry/trailer) 4/5 stables, workshop, tack room, feed room, hay barn, sand school (not brilliant) 1 1/4 acres of good paddock + option to rent a further 2 acres - in Mid Norfolk.

What sort of monthly rent would you estimate this sort of property might achieve?

A nice G&T if you got to the end - I know I need one and its not quite 4pm yet!

 

[ofcourseyoucan]

i would think you would rent your current house quite easily for local rent plus horse inflated facility price! business mortgages are usually equal or less than domestic ones and are tax deductable expenses! as to the original mortgage you will have to let them know you are going to rent it out, so you dont breach the original contract. they can advise you if you need to switch to a buy to let one! in this market it could be in your favour, and property will pick up in time again. it just goes a full cycle! my first ever mortgaage was 16% back in the late 80 s early 90 s! unthinkable now! good luck