Buying 1st time "hobby farm" - Page 2 - The Horse Forum

 4Likes
Reply
 
LinkBack Thread Tools
post #11 of 16 Old 12-04-2012, 02:29 PM
Green Broke
 
Join Date: Jun 2012
Location: Canada
Posts: 3,377
• Horses: 0
Stevenson offered many good points to consider. I would add make sure you can get clear title to the house (no liens, etc., against the property) and check what might be listed by way of easements against the property. Have a chat with the local land authority (I don't know what it is called in your area; here it is a municipality) to see what they have by way of zoning for the area, proposed and/or approved future development, permissions required for doing renovations, etc. Also if there is any "junk" (old vehicles, lumber piles, etc.) lying about, which I don't think there is as the property looks pretty clean, make it a condition of sale that is removed by the seller by a specific date before you move in. It probably wouldn't hurt to check out the neighbours as well -- quietly of course (you don't need to do criminal checks or peer into their living room windows).

It's not a bad looking place over all. I wish you well with it if you get it.
Chevaux is offline  
Sponsored Links
Advertisement
 
post #12 of 16 Old 12-04-2012, 02:33 PM
Showing
 
Join Date: Jun 2011
Location: Cariboo, British Columbia
Posts: 11,480
• Horses: 3
Needless to say you get several building inspectors to look at it, that is a big investment. You use the inspectors report to negotiate the price because there will always be something wrong. Land prices must be pretty cheap where you are, in this area, you couldn't find anything like that under 400k even in rural areas.
Posted via Mobile Device
egrogan likes this.
waresbear is offline  
post #13 of 16 Old 12-04-2012, 03:44 PM
Green Broke
 
Join Date: Feb 2011
Location: AZ
Posts: 4,840
• Horses: 2
Pretty amazing the difference in property taxes. I specifically checked that out when I was buying & that paid off big time.
Cacowgirl is offline  
post #14 of 16 Old 12-04-2012, 03:46 PM
Green Broke
 
Join Date: Jun 2011
Location: New Hampshire
Posts: 2,899
• Horses: 1
We bought our small acreage a year ago, here's what we focused on:
1. WELL- this was a huge point for us, definitely pay the extra money to have a well expert come out and do the flow per hour test, particularly if you need to supply your barn from the same well as your house. We will be building a barn in the future, and will need a new well to keep the barn going without a negative hit on our house.

2. BUG/PEST PROBLEMS in all structures. I don't think anyone mentioned this, and maybe not as big a deal for you since it's a newer property (our house was built in 1790)- be sure you have a thorough inspection for termites, powder post beetles, etc. that could be compromising the integrity of the buildings.

3. In my state, there are tax incentives for farm properties if they are kept in "current use" - I.e., it is currently a horse property, and if you keep using it as a horse property, you keep that low tax rate, but if you ever remove horses, the tax incentive goes away. Be sure your realtor is smart and on top of this, or ask a tax professional if you have any questions. Don't want any nasty surprises in the future.

Otherwise, I would advise finding the best inspector you can who will be honest and tell you every painful detail about the roof, electrical, plumbing, etc. in all structures on the property. Even if the inspector identifies things you don't plan to fix right away, you might be surprised how much a motivated seller is willing to fix- or give you the cash directly to handle the hassle of fixing on your own. I agree with whoever said the electric in the barn looks dicey in the pictures (I am not an electrician...), and having an inspector's report on that sort of issue can be really helpful if you get to the point of making an offer.

Good luck!
egrogan is offline  
post #15 of 16 Old 12-04-2012, 05:06 PM
Green Broke
 
Join Date: Aug 2011
Location: Surry, Va
Posts: 4,712
• Horses: 0
that's a tiny piece of land for that size house and barn. I know it seams huge moving from the city suburb but you'll outgrow it quick , Is there any type of associations ? Avoid them like the plague. Personally I would go for no barn a smaller house and bigger land. My place is only 10 acres and I kick myself for not buying the overpriced 10 acres next to me when I had the chance.
Joe4d is offline  
post #16 of 16 Old 12-08-2012, 02:51 PM Thread Starter
Foal
 
Join Date: Dec 2012
Posts: 4
• Horses: 0
Thanks again for all your input. We are going to go look at the property tomorrow. I have made a list of questions including most of what you guys have asked. I will take pictures (if allowed) and post them on here for you to see and critique.
Like I said, this is our first time buying outside a subdivision, so we need all the help we can get!!!


Thanks again ya'll!
Parkersmomma2 is offline  
Reply

Tags
buying , farm , real estate

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the The Horse Forum forums, you must first register.

Already have a Horse Forum account?
Members are allowed only one account per person at the Horse Forum, so if you've made an account here in the past you'll need to continue using that account. Please do not create a new account or you may lose access to the Horse Forum. If you need help recovering your existing account, please Contact Us. We'll be glad to help!

New to the Horse Forum?
Please choose a username you will be satisfied with using for the duration of your membership at the Horse Forum. We do not change members' usernames upon request because that would make it difficult for everyone to keep track of who is who on the forum. For that reason, please do not incorporate your horse's name into your username so that you are not stuck with a username related to a horse you may no longer have some day, or use any other username you may no longer identify with or care for in the future.



User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.


Old Thread Warning
This thread is more than 90 days old. When a thread is this old, it is often better to start a new thread rather than post to it. However, If you feel you have something of value to add to this particular thread, you can do so by checking the box below before submitting your post.

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Taxes on your acreage/hobby farm Hidalgo13 General Off Topic Discussion 13 04-10-2012 01:50 PM
How Many Horses On A Hobby Farm? ButtInTheDirt Horse Talk 10 01-18-2012 02:26 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome