If you’ve ever dreamed of waking up to horses nickering outside your window, coffee in hand, watching the mist rise over your own pastures… well, you’re in good company. That’s exactly what drew me into specializing in horse properties here in Wake County and the surrounding Triangle.
But buying a horse farm isn’t quite the same as buying a suburban house. Financing can be a little more complicated, because you’re buying a home, land, and specialized improvements (such as arenas, barns, and fenced pastures) that don’t always fit neatly into standard mortgage boxes. The good news is that with the right approach and a team that understands equestrian life, it’s absolutely within reach.
Try this mortgage calculator to see how much you can afford.
1. Understand the type of loan you’ll need
Not all loans are created equal. If you’re looking at a small residential lot with a barn on 3–5 acres, a conventional mortgage might work. If the property is larger (10+ acres), or if it’s used for boarding, training, or other income activities, lenders may classify it differently—sometimes as agricultural or commercial property—which changes rates, down payments, and documentation.
Locally, many buyers in Wake County explore lenders who specialize in rural and agricultural lending. These lenders know the difference between good footing and expensive footing, and they value improvements, like arenas and run-in sheds, appropriately. Before you fall in love with a property, have a lender familiar with horse properties in your corner of the Triangle give you a reality check to help you shop in a realistic price range.
You may also be interested in: 5 things to look for in the land when buying a horse property
2. Budget for more than the purchase price
I always tell clients: the list price is the starting line. Plan for fencing, arena footing, run-in sheds, hay storage, routine maintenance, higher insurance, and feed costs. Lenders will look at your debt-to-income ratio and how much you can put down; for equestrian properties, expect to need around 20% down in many cases.
Also, check property taxes carefully. Wake County’s rates may differ from neighboring Johnston, Chatham, or Franklin Counties, and whether land qualifies for present-use agricultural valuation can affect your annual tax bill. Those differences matter when you’re managing 10, 25, or 50 acres.
3. Work with a lender who understands the horse world
One of the most common frustrations I hear is buyers walking into a large bank and watching the loan officer’s eyes glaze over at the words “arena” or “boarding.” Ideally, find lenders like local banks, credit unions, or agricultural lenders who understand rural property types and equine needs. They can often structure loans for land, construction (if you’re building barns or rings), or business lines of credit if you’re starting a boarding or training operation.
If you plan to generate income from the property, do your homework with a simple business plan: how many boarders, projected expenses (hay, farrier, vet, utilities), and realistic rental/boarding rates for the Triangle.
4. Prepare the documents lenders will ask for
Be ready to provide documents like:
- Proof of income (pay stubs, tax returns)
- Credit history and explanations for anything unusual
- Appraisal and site details (how value breaks down between home, land, and equine improvements)
- If applicable, a business plan and income projections for a boarding/training business
If you’re converting raw land to a horse property, you may first need a land loan, and then a construction loan for barns or a house. It takes planning, but I can help connect you with lenders and builders who’ve handled this sequence many times.
5. Explore agricultural programs and tax benefits
North Carolina has options for agricultural land use that can lower your property tax burden if you qualify. These savings can make all the difference once you’re balancing feed costs and fencing repairs. I always review these possibilities with clients so they know what to expect before closing.
6. Watch out for scams and vet every source carefully
Buying land and arranging loan financing attracts a lot of advice—and unfortunately, a few bad actors. I say this because I want your dream to be real and your transaction to be safe, but a few straight-forward steps will protect you:
- Verify lenders and brokers: check licensing, ask for local references, and confirm a bank or lender’s physical office.
- Don’t wire money without verifying instructions by phone, using a number you found independently (not one in an email).
- Be skeptical if someone promises no-money-down, unbelievably low rates, or guaranteed approval without documentation.
- Look up any company or individual you’re working with. Read reviews, check with the Better Business Bureau or state regulators, and ask for referrals from other local horse property buyers.
- If you find advice online, verify it: cross-check multiple reputable sources and, when in doubt, ask a lender or your agent (that’s me) to vet it.
7. Expect the process to take a little longer—and that’s okay
Horse properties have more moving parts than typical residential real estate transactions: specialized appraisals, zoning or land-use checks, and sometimes separate inspections for barns and outbuildings. It can take a bit longer than a typical home purchase. Be patient; it’s time well spent for a life where you step outside to your horses every morning.
You may also be interested in: Purchasing land in NC? Here’s what you should do before you buy.
8. Lean on a team that actually cares about horses
I’m not just here to sell land. I want you to have the quality of life that comes with waking up to horses outside your window. I combine market expertise in the Triangle with hands-on equestrian knowledge. I don’t know everything—nobody does—but what I don’t know, I’ll find out for you. And if setbacks happen, we’ll find solutions together.
Ready to make the move?
If owning a horse property in Wake County or the surrounding Triangle is your dream, let’s talk. I’ll help you understand loan options, connect you with lenders who get equestrian properties, and guide you through the paperwork and the pitfalls so you can focus on planning that first morning with horses in your pasture.
Contact me, Denise, at Hooves & Homes Realty and let’s start unlocking your horse farm dream.