Owners often ask if investing in equestrian facilities will increase the value of a property by the amount of expenditure. Even if you don't intend to sell now, my first tip is always to have in mind who is most likely to buy your property and plan improvements accordingly.
For example, if you only have two acres but your property is near a commuter station and a great school, then creating a family home with equestrian facilities to support children at Pony Club is likely to be the optimum investment.
On the other hand, those with an equestrian business, such as a livery yard with 100 acres next to a racecourse or competition centre, might find that securing planning permission for private gallops or an indoor school would be a worthy investment.
Here are five of the best ways to add value to an equestrian property.
1. Secure planning permission
Gaining planning consent for additional accommodation for a groom, granny or a tenant will add value to your property. Applying for residential consent isn’t always straightforward but if you have a good case then it’s certainly worth getting some planning advice. Equally, an indoor or outdoor all-weather riding surface also requires planning permission. Planning approval is valid for three years, unless varied by the conditions, and you can often make a start to the works to ensure the permission doesn’t lapse.
2. Buy more land
Buyers are often focussed on how many acres a property has – if your property doesn’t have enough for their requirements, they will simply dismiss it before viewing. The rule of thumb is an acre per horse, so if a buyer is looking for 10 stables, they’re likely to want 10 acres. Increasing the size of your land holding can help your property appeal to a wider range of buyers: many will see it as important for privacy; others need extra land for grazing. So if your neighbour is looking at downsizing or wants to raise some capital, it could be a good idea to appoint an agent to make an approach on your behalf.
3. Keep your property well presented
This is an easy way to add value. You will make a good impression with swept yards, a mown lawn and well-maintained fencing. Regular maintenance of windows and doors, and keeping the stables doors and facilities in good order, will show the property has been looked after.
4. Keep facilities versatile
If you plan to sell your property in the short term, it is rarely advisable to spend money on specialist facilities. However, investing in specialist facilities for your own benefit can be worthwhile in terms of the time and effort it can save you. But be realistic: the added value may be less than the expenditure needed to create the new facilities. Try to make specialist facilities as versatile as possible.
5. Get the basics right
Investments in the basics will be valued by the widest range of buyers. For example, properties which have good drainage enabling all-year turn out and off-road riding will get a big tick. Safe, horse-friendly fencing instead of barbed wire will get another. Services including hot and cold water, in-field troughs, power sockets and lighting will also be attractive to many equestrian buyers. Eco-friendly adaptations, such as a bore hole to provide a private water supply for troughs, will reduce running costs.