Interest in lending for equestrian properties is at an all-time high at Malvern Bank, so it seems only fitting to continue discussing one of the markets staying strong throughout this unpredictable year: equestrian real estate. Equestrian real estate in particular has remained valuable throughout the course of the year, and it seems as though properties are selling as quickly as they come on the market. There are always many options and variables for a buyer, and expert perspectives can help you keep your finger on the pulse of the equestrian real estate market and navigate the decisions you may be contemplating.
Recently, I had the opportunity to discuss the real estate boom with one such equestrian real estate industry expert from Aiken, South Carolina, David Miller of Keller Williams Aiken Partners. I hope his thoughts on the current equestrian real estate market prove as valuable to you as they were insightful to me!
- It can be challenging to keep up with the various regional markets out there and their current states. What is your general overview of the equestrian real estate market at the present time?
The equestrian real estate market has definitely been on an upswing here in Aiken, SC! We are seeing farms that previously sat on the market now changing hands rapidly. Land prices and farm prices are holding strong, while premier properties are demanding top dollar and are still in high demand.
- What is your opinion on buying vs. renting going into the winter season—Is it better to rent or purchase an equestrian property at the moment? Do you notice any particular trends?
In my opinion, I think purchasing is the best option. Regardless of current affairs, real estate is always a sound long-term investment. Purchasing also gives you the opportunity to make a property your own by controlling the improvements and expansion. I’m seeing lots of horse owners purchasing their own properties in order to be able to control the care of their animals and to be closer to favorite local show venues.
- Speaking of the ability to control one’s environment, how has COVID-19 has impacted the equestrian real estate market?
We are seeing people moving from metropolitan areas to more rural areas—making sure their moves include room for their equine companions. It appears this pandemic has inspired the real estate consumer to seek out places where they aren’t stacked in on top each other and they have room to breathe!
- Do you have any advice or tips for a potential buyer in the equestrian real estate market right now?
I’m a huge advocate for professional representation in navigating the equestrian real estate market—just as I am an advocate for working with a professional help to reach your riding goals. Selecting a real estate agent who understands the horse industry as well as listens to your wants and needs as a horseman in paramount to this process being successful.
One of the reasons that I was originally drawn to be part of the Malvern Bank team is because as an equestrian, I felt like I was working with people that were knowledge and passionate about life with horses. Unlike other banks that may see a farm as just a larger piece of property, the professionals at Malvern Bank understand what makes an equestrian property unique and can help you find the right solutions for financing your dream house and/or farm. Whether you are interested in acquiring a new home for your family and horses, refinancing, or making improvements to your existing equestrian property, let Malvern Bank be your one-stop-shop for lending solutions.
David Miller is a licensed REALTOR®️with Keller Williams Aiken Partners in Aiken SC. After a 25 year career as a professional rider, trainer, and coach, David enjoys providing the same champion service to his equestrian buyers and sellers in the South Carolina farm and land markets. Aside from his real estate ventures, David can usually be found alongside the SC coast, at a horse show, or wrangling his five dogs! Feel free to contact David with any questions at firstname.lastname@example.org .