Does the presence of horse equipment really up the value of a property? (price, properties)

[urbex]

I've been looking at several properties here in Phoenix (specifically, north of the valley, in the rural areas), and a few of them have existing horse stalls, the circular pen, etc. None of them have enclosed barns or whatnot, just the stuff that's essentially some posts in the ground with a corrugated steel roof over them. Example photos -



In case it isn't already obvious, I really don't have a clue about horse ownership, or what equipment is needed to keep them (or what they're called, other than "that circular...run...thing!" ). I've often thought that it would be really nifty to have a couple horses, but considering that I have a hard enough time keeping pet fish alive, horses realistically just aren't in my future, despite other people raving about how great it is to have horses at home all the time, lol.

One particular property I'm looking at I like, but felt the price was roughly 20K too high compared to other properties in the area. But then I started wondering if this horse equipment is the reason for the higher price? Does the presence of this kind of stuff really make a big difference in the value of the home? Obviously, it doesn't add any value to _me_, but then a pool doesn't add value to me either, but generally does to a lot of other people. In my case, I thought I may be able to enclose the stalls, and make it into a shed of some sort, but I'd be more likely to just remove it all and build a large shop space in place of them.

I'm not going to pay an extra 20K for equipment I'll never use, but I'm still curious how this stuff may affect the value of a home.

Of course, it could just be that this place has a cruddy realtor, and recommended an asking price that's way high too, lol.

[headingtoDenver]

I guess it could be worth more to someone who is looking for a property and a place to keep their horses. IMO, I would rather have an actual barn versus the outdoor pens you showed in the picture. A barn can be used for many things, not just animals.

[willow wind]

That set up is called a mare motel. It has nothing to do with the sex of the horses, just what it's called. They are very common in warm, dry type climates- you'll see them all over in CA, AZ, etc. They're used just to keep shade available and somewhere to protect from occasional rain. To someone who has horses, it's a ready made horse facility.

[luv4horses]

Either you or the current owners could sell the mare motels and the round pen since they can probably be dismantled. Or, you could keep these features in case you want to sell as a horse property in the future, as they do add value in an equestrian neighborhood.

The current owners would not be likely to do the dismantling until you close on the property, though, since they might be afraid you would pull out of the deal at the last minute and leave them at a loss.

[oregonwoodsmoke]

The pens in the photo are portable and will be taken by the seller unless it is very specific in the contract that they will be left.

Horse properties are often a bit more expensive because they are usually level and in better neighborhoods near open areas for riding.