First-time horse buyers often look closely at the cost of buying a horse and will by influenced by a few hundred dollars difference in the purchase price of different horses. What they don't realise is that keeping a horse is far more expensive they buying one.
In part, this is due to the fact that people involved in the horse business (breeding, selling, training) do not want to scare potential buyers off by telling them just how expensive horse ownership is. After all, if someone is unsure if they can spend a few thousand dollars to buy a horse, the seller will likely lose the deal if they explain that it may cost $30 000 to $60 000 over the next 10 years. Although there may be honest horse people that do go out of their way to explain this information, in our experience they are in the small minority.
Consequently, if you know someone who is buying a horse, you can help them by sharing the facts with them in advance. Of course, one needs to take their specific circumstances into account in order to determine what their costs would be. Here is a rough guide.
The first consideration is whether the horse will be stabled with a professional or stabled by them. If the horse will be stabled with a professional, phone around to check the local monthly costs (including box, food, bedding and labour). You can find the phone numbers for the local professionals in the yellow pages or ask your local vet. Such costs can vary from $150/month to over $1000/month, with the higher end associated with urban areas.
On the other hand, if one stables the horse oneself, the main costs are bedding, food and labour. A typical price for bedding is $100/month but in some areas it is much more expensive. If you are using straw, figure on a small bale (25 pounds or 12kg) per day, then check the local price. For food, a medium sized horse needs about 30 pounds (15kg) of hay per day (or equivalent). The price of this quantity of hay is typically about $100/month, cheaper in some areas but much more expensive in others. Of course, labour is free if you do it yourself, but be prepared to spend at least half an hour per day mucking out and other basic tasks.
In additional to the regular monthly costs, there are a number of periodic costs: salt, minerals, wormers, annual dental check, annual innoculations. Medical insurance costs start at about $40/month. Of course, you don't have to buy insurance but keep in mind that a serious illness (e.g. colic requiring surgery) or injury can cost thousands to correct.
Finally, one must consider the costs of not only owning the horse but also of using it. This includes saddle, tack, riding clothes, training for you and the horse. If you progress to showing or competiting with the horse, there will be further expenses.
None of this is intended to discourage one from buying a horse. Instead, it is to help one understand the financial commitment involved with owning and keeping a horse, so that one can prepare for it. - 29955
In part, this is due to the fact that people involved in the horse business (breeding, selling, training) do not want to scare potential buyers off by telling them just how expensive horse ownership is. After all, if someone is unsure if they can spend a few thousand dollars to buy a horse, the seller will likely lose the deal if they explain that it may cost $30 000 to $60 000 over the next 10 years. Although there may be honest horse people that do go out of their way to explain this information, in our experience they are in the small minority.
Consequently, if you know someone who is buying a horse, you can help them by sharing the facts with them in advance. Of course, one needs to take their specific circumstances into account in order to determine what their costs would be. Here is a rough guide.
The first consideration is whether the horse will be stabled with a professional or stabled by them. If the horse will be stabled with a professional, phone around to check the local monthly costs (including box, food, bedding and labour). You can find the phone numbers for the local professionals in the yellow pages or ask your local vet. Such costs can vary from $150/month to over $1000/month, with the higher end associated with urban areas.
On the other hand, if one stables the horse oneself, the main costs are bedding, food and labour. A typical price for bedding is $100/month but in some areas it is much more expensive. If you are using straw, figure on a small bale (25 pounds or 12kg) per day, then check the local price. For food, a medium sized horse needs about 30 pounds (15kg) of hay per day (or equivalent). The price of this quantity of hay is typically about $100/month, cheaper in some areas but much more expensive in others. Of course, labour is free if you do it yourself, but be prepared to spend at least half an hour per day mucking out and other basic tasks.
In additional to the regular monthly costs, there are a number of periodic costs: salt, minerals, wormers, annual dental check, annual innoculations. Medical insurance costs start at about $40/month. Of course, you don't have to buy insurance but keep in mind that a serious illness (e.g. colic requiring surgery) or injury can cost thousands to correct.
Finally, one must consider the costs of not only owning the horse but also of using it. This includes saddle, tack, riding clothes, training for you and the horse. If you progress to showing or competiting with the horse, there will be further expenses.
None of this is intended to discourage one from buying a horse. Instead, it is to help one understand the financial commitment involved with owning and keeping a horse, so that one can prepare for it. - 29955
About the Author:
Doug Stewart is the author of Horse Costs, which provides related online cost calculators.
