Talk with your Animals

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.

If you know someone looking to buy a horse, you can do them a big favour by letting them know the financial implications in advance. Of course, it is hard to quote a specific number as costs vary from under $50/month to over $1000/month depending on circumstances. However, here are some tips on how to do a rough calculation.

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.

Alternatively, if you keep the horse yourself rather than using a professional stable, you can save on these costs. However, you will still need to purchase bedding and feed, which will typically cost a minimum of $100/month. If you have lots of pasture, you can spend a bit less on feed. Keep in mind that $100/month is a minimum, in some areas bedding and feed (especially hay) can be far more expensive.

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.

Aside from the costs associated with just keeping the horse, there are also the costs of using it, such as saddle, tack and riding clothes. On top of this, if you show or compete with the horse there are a range of further costs such as training, transport, show fees, and so on.

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.

Doug Stewart is the author of Horse Costs, which provides related online cost calculators.

categories: horse,horses,equine