Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

Key Considerations When Evaluating A Property For Horses

by Luke Fields

When you've finally made the leap into looking for a horse property, there are a lot of things that you need to think about. Especially if this is the first time you've ever invested in a property for horses, you need to make sure that you are prepared. Here are a few things to consider as you assess each property option.

Consider The Size

The lot size is always an important consideration when you buy property. However, when you're buying a horse property, it is even more important. You need to consider how many horses you want to own, and then find out if there are any local ordinances about how much property you must have per horse. Some municipalities require that you have a certain number of acres per horse if you're going to own horses.

If there are no regulations where the property is located, you'll only need to think about the comfort of the horses. It's a good idea to have between two and three acres of pasture space for each horse if you want to allow them sufficient room to roam and graze without encroaching on each other or killing the grass growth. 

Ask About Prior Use

Another thing you'll want to think about, particularly if you're buying a property that wasn't previously slated for horses, is what the land was used for in the past. This is an important consideration because anything applied to the land can potentially affect your horses.

For example, if you're buying a farm property, make sure you know if anything was grown on the land you plan to use as a pasture and ask about any treatments applied to the land, such as pesticides, fertilizer, or any other chemicals. The more you know about the prior use of the land, the easier it is to determine if it will be safe for your horses.

Evaluate The Layout

The layout of the property is just as important as any other feature. Consider how comfortable the horses will be on the land in question. If the property is rocky, has steep slopes, or any other hazards, it isn't ideal for horse pastures.

The land should be free of major obstacles and should also be a sufficient distance away from septic tanks and drain fields. The horses should be able to roam freely and be safe. Walk the property lines, especially where you plan to enclose the pasture. As long as the environment is safe for them to navigate, you'll be able to freely put horses on the property without worry.



About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.