If you own horses, boarding them can be extremely expensive and inconvenient task to do. Also, many horse owners may be hesitant about using these services because they are not sure of the type of care that their animals will receive. Not surprisingly, these concerns may cause some people to start considering buying their own horse ranch. You might be unfamiliar with what is involved with buying these ranches, and having the following couple of questions answered should help you to make the right choice for your needs.
Is It Difficult To Finance Buying A Horse Ranch?
A horse ranch encompasses a large amount of land, which can be extremely expensive. As a result, you will likely need to finance your horse ranch, but you may be concerned about being approved for enough money to make this purchase.
If you are planning on renting stalls to other horse owners, you may be able to count the income from these rentals as a part of your income for the application. This may help to push your earnings high enough to qualify for the financing that you need. However, the bank will expect to see evidence supporting your estimated income, which will require you to present a detailed business plan as part of the application process.
What If The Property Is Not Zoned For Ranching?
You may find the perfect spot of land for your horse ranch, but it may not be zoned for this type of activity. The areas where a horse ranch may be located are often limited within communities. This should not be surprising given the noise and smells that can be produced by these establishments. However, this does not mean that zoning issues will always stop your plans for building a horse ranch on that desired plot of land.
In order to change the zoning for the land, you will need to petition the local government. The rules for doing this will vary from community to community, but the process is usually similar once this petition has been filed. A study will be held to determine the impacts of establishing the horse ranch, and if no serious problems are anticipated, the community will be given an opportunity to voice an opinion before either the council votes on it or it is put on a ballot for the community.
Establishing a horse ranch is a task that you may be considering doing, but there are many variables to consider when planning this undertaking. By understanding the process of financing the horse ranch and what can be done to change the zoning of your desired location, you can have a stronger understanding of what this task will entail.