What to Consider When Buying an Equestrian Property

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Buying a horse property is not your typical home purchase, especially for first time buyers. If you’ve never shopped for a horse property before, there is much to learn on the road to finding the best property for your needs. Working with an experienced Equestrian Advisor will also help ensure your home search and purchase go as smoothly as possible.

Horse Property Acreage
Just because a property has plentiful acreage doesn’t mean it will be suitable for horse care. The land must be flat-to-gently-sloped for grazing and provide adequate access to your horses’ basic needs. You want to look for properties with usable land – meaning there are not acres of unusable gullies, steep edges, or too many bodies of water that could make it difficult for your animals to navigate the property. Pay attention to local regulations about how much acreage is required per horse.

Zoning Instructions
If the property currently has horses or has in the past, do not assume it is an approved horse property. Part of your Equestrian Advisor’s job will be to ensure the property is in line with the local city, county, and/or HOA regulations for agriculture and livestock. Neglecting to verify the property could mean a significant financial setback if your horse property were the source of future legal issues and penalties.

Stable Inspections
When conducting the primary home inspection, be sure to have the barn and stables inspected as well. This could lead to higher upfront costs but skipping it could cause a huge headache later. Having a professional evaluate the barn and stables can reveal structural issues, electrical issues, or other potential problems that you would want to know about before you sign any paperwork.

Amenities
Housing horses and livestock on your property can be done with much more ease with a few convenient amenities. When touring prospective properties, look for the following:

  • Frost-proof spigots in the pasture, arena, and turnouts
  • Heated waterers in the stalls
  • Sufficient hay storage area
  • Tack room with a fridge for medication and supplements
  • Wash bay
  • Arena or training round pen

Your Routine
Transitioning to an equestrian lifestyle is a big adjustment, especially if this is your first time. Make sure you are taking your daily routine into consideration when looking at properties. How close are you to the barn? Where is the main water source? Careful planning every step of the way will make adapting to your new property much smoother and easier.

To connect with an experienced Equestrian Advisor today, click the link below:

Equestrian Advisor

The post What to Consider When Buying an Equestrian Property appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

What to Consider When Buying an Equestrian Property

/in , , , , , , , , , , , , , /by

Buying a horse property is not your typical home purchase, especially for first time buyers. If you’ve never shopped for a horse property before, there is much to learn on the road to finding the best property for your needs. Working with an experienced Equestrian Advisor will also help ensure your home search and purchase go as smoothly as possible.

Horse Property Acreage
Just because a property has plentiful acreage doesn’t mean it will be suitable for horse care. The land must be flat-to-gently-sloped for grazing and provide adequate access to your horses’ basic needs. You want to look for properties with usable land – meaning there are not acres of unusable gullies, steep edges, or too many bodies of water that could make it difficult for your animals to navigate the property. Pay attention to local regulations about how much acreage is required per horse.

Zoning Instructions
If the property currently has horses or has in the past, do not assume it is an approved horse property. Part of your Equestrian Advisor’s job will be to ensure the property is in line with the local city, county, and/or HOA regulations for agriculture and livestock. Neglecting to verify the property could mean a significant financial setback if your horse property were the source of future legal issues and penalties.

Stable Inspections
When conducting the primary home inspection, be sure to have the barn and stables inspected as well. This could lead to higher upfront costs but skipping it could cause a huge headache later. Having a professional evaluate the barn and stables can reveal structural issues, electrical issues, or other potential problems that you would want to know about before you sign any paperwork.

Amenities
Housing horses and livestock on your property can be done with much more ease with a few convenient amenities. When touring prospective properties, look for the following:

  • Frost-proof spigots in the pasture, arena, and turnouts
  • Heated waterers in the stalls
  • Sufficient hay storage area
  • Tack room with a fridge for medication and supplements
  • Wash bay
  • Arena or training round pen

Your Routine
Transitioning to an equestrian lifestyle is a big adjustment, especially if this is your first time. Make sure you are taking your daily routine into consideration when looking at properties. How close are you to the barn? Where is the main water source? Careful planning every step of the way will make adapting to your new property much smoother and easier.

To connect with an experienced Equestrian Advisor today, click the link below:

Equestrian Advisor

The post What to Consider When Buying an Equestrian Property appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Buying and Selling a Home at the Same Time

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Successfully selling a home and buying a home are significant accomplishments on their own, but when their timelines cross it can be difficult to manage both. If you’re thinking about doing both simultaneously, it’s equally important to understand the steps you can take to make the process go smoothly as it is to have a backup plan in case it doesn’t. Above all, the balancing act required to pull off both deals highlights the importance of working closely with a trusted and experienced real estate agent.

Do I buy or sell first?

One can imagine a perfect world in which the two transactions go through one right after the other. However, this is not usually the case. So, should you list your current home first or start by putting in offers on a new one? There are pros and cons to both.

Selling your current home first allows you to make offers on a new home with cash in your pocket, increases your buying power, and avoids having to juggle two mortgages simultaneously. On the other hand, it creates a gap of residence, often leaving homeowners wondering where they’ll stay until they move into their new home or whether they may need to rent before they can buy again. Sellers may also negotiate a rent-back agreement with the buyers, allowing them to rent the house from the new owners before they move in.

Buying before selling solves the need for any temporary housing and makes the overall moving process much easier. Having a residence established ahead of time means you’ll only have to move once, which can save you some serious stress during this time of transition. Oppositely, buying a new home before you sell your current one will put an added strain on your finances. Having two concurrent mortgages equates to taking on more debt, which could result in less-than-favorable loan terms for purchasing your new home. Without the lump sum generated by a home sale in your pocket, coming up with enough money for a down payment may be a challenge and obtaining private mortgage insurance (PMI) may be in the cards. Finally, buying before selling comes with an obvious assumption—that your current house will sell.

Ultimately, the order of operations depends on your situation. Perhaps you’re moving due to a change of employment, and you need to direct all your energy toward buying a new home by a certain date before you can even think about selling your current one. No matter which route you take, it’s important to communicate your timeline to your listing agent or your buyer’s agent so they can strategize accordingly.

Buying and Selling a Home at the Same Time 

Local Market Conditions

Buying and selling at the same time will come with a certain duality: at each step in the process, you’ll have to balance your responsibilities as both a buyer and a seller. For example, when assessing your local market conditions, you’ll be looking at not one, but two housing markets.

  • Seller’s Market: Selling in a seller’s market means that that you’ll need to be prepared to move once you list, since you could be looking at a short selling timeline. However, relying too heavily on the assumption that your house will sell quickly could make things dicey down the road. If you’re buying in a seller’s market, finding a new home may take longer than expected. You could potentially be waiting weeks or months for an offer to get accepted.
  • Buyer’s Market: Selling in a buyer’s market typically means that homes stay on the market longer. If you proceed with a new home purchase just after you’ve listed your current house, know that it may take a while to sell. If you’re buying in a buyer’s market you can afford to be picky, knowing that time is on your side. With fewer people buying homes, sellers will be more flexible, giving you leverage to negotiate your contingencies.

Having a Backup Plan

If only you could wave a magic wand and make both transactions go through as planned. That’s why it’s important to have a backup plan in place to right the ship should things go sideways at any point in the buying or selling process. Talk to your agent about which options may be right for you. Here are a few:

  • Sales Contingency: Buying your new home with a sales contingency allows you to opt out of the purchase contract if your home doesn’t sell by a specified date. Purchasing contingent on the sale is rare in highly competitive markets.
  • Bridge Loan: If your current home hasn’t sold yet and you’re not able to afford the down payment on a new home, a bridge loan may be a fitting solution. Bridge loans can be used to cover the down payment on a new house and are repaid once your existing home has sold.
  • Rent-Back Agreement: A rent-back agreement is a clause in the sales contract that allows the seller to rent their old home from the buyer for an agreed-upon period of time before the buyer moves in. This can be especially helpful in situations when the seller is having trouble finding a new home.

For more information on buying and selling a home at the same time, give us a call at (970) 460-3033 to get connected with an experienced agent!

The post Buying and Selling a Home at the Same Time appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

10 Tips to Minimize Stress When Selling Your Home

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When I was growing up, my family must have moved a dozen times. After the first few moves, we had it down to a science: timed out, scheduled, down to the last box. Despite our best efforts, plans would change, move-out and move-in days would shift, and the experience would stress the entire family out. Despite the stress, we always managed to settle in our new home and sell our old one before the start of school.

 

With a lot of planning and scheduling, you can minimize the stress of selling your house and moving. Here are some tips:

Plan Ahead

Know when you want to be moved out and into your new home and have a backup plan in case it falls through. Before you sell your home, familiarize yourself with local and state laws about selling a home so you’re not caught by surprise if you forget something important.

Lists and schedules are going to be your new best friend through the process. Have a timetable for when you want to sell your house when you have appraisers, realtors, movers, etc. over. Also, keep one for when your things need to be packed and when you need to be moved into the new place. I suggest keeping it on an Excel sheet so you can easily update it as the timeline changes (and it will – stuff happens).

Use Resources

First time selling a house? Check out some great resources on what you need to know. US News has excellent, step-by-step guides on what you need to know to sell. Appraisers and realtors can also be good resources, and since you’ll be working with them through the process, be sure to ask them questions or have them point you to resources.

Appraisal

Have your house appraised before you sell so you know your budget for your new home. This will help you look for an affordable home that meets your family’s needs. It will also help you maximize the amount you can receive for your old home. You can also learn useful information from an appraisal, such as which repairs need to be made, if any.

Repairs

Does your house need repairs before you move? If so, figure out whether you’ll be covering them, or whether your buyers will (this will be a part of price negotiations, so factor it in with your home budget). Will you need to make repairs in your new house, or will that be covered? Either way, make sure you know which repairs need to be made – and either be upfront with buyers about them or make them before you sell.

Prepare to Move

If you’re moving to a new town or a new state, you need to prepare more than just a new home. Research doctors and dentists, places to eat, and what to do for fun. If you have school-aged children, look at the local school district or private school options – not only to learn how to enroll your kids, but also to get a feel for the school culture, see what extracurricular activities your kids can do, what standards/learning methods your kids’ new school will implement, etc.

Packing

Think: how soon are you moving, what will you need to use before you move, what can get boxed and what needs to stay out?  The sooner you’re moving out, the sooner you need to pack, but if you have time, just take a day per weekend to organize a room, pack what you want to take and arrange to donate what you want to get rid of.

Downsizing

Moves are a great time to purge old, unwanted and unused stuff from your home. Sometimes, it’s necessary if you’re moving into a smaller space. Either way, as you pack each room, think about whether you use what you’re packing to take with you. If you do, pack it to go. If not, put it in a separate box to go to your local donations place. You can also call some organizations to have your unwanted things picked up, no hassle.

If You Have Kids

Moving with kids can be extra stressful. Be sure to include them in the process. This is a wonderful opportunity to teach younger children about moving and prepare them for the changes it brings. Older children can help out with responsibilities, like packing their room or researching their new town.

Your New Place

Moving into a new place takes some planning as well. Once you’ve bought your new home or condo, design at least a basic outline for where your stuff will be set up. Make necessary repairs and decorate (painting, for example) before you unpack. Ideally, you should have some time to do these things before, but if you don’t, don’t be in a hurry to unpack everything – it can be a hassle to paint if you have all your furniture and bookshelves up!

Staying In Touch and Making New Friends

Finally, moving can mean good-byes with family and/or friends. Social media is a great way to keep in touch with people after you’ve moved, but distance can still weaken these old relationships. Make some time to call or message your old friends to keep in touch. Pair that work with a concerted effort to meet new people. See what hobbies or groups are in your new area and start there. It doesn’t seem like a lot, but it can make your new house a home and make your new town a community you can enjoy.

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