As a horse breeder, I’m often asked how expensive a horse is. Unfortunately, most people are thinking of the ‘purchase price’ when they ask, rather than the ‘ownership cost’. In general, horses are more expensive to own than to buy, a fact that most first-time buyers don’t really understand.

This ignorance is in part the fault of people working in the horse business as breeders, dealers or trainers. After all, if a potential client is unsure if they can afford to buy a horse, telling them that owning it is even more expensive is a good way to lose the potential sale. Of course, some sellers are honest enough to explain this, but far from all.

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.

First of all, ask if the horse will be stabled with someone else or will be stabled with them. If stabled with someone else, then phone around to see the monthly costs of stabling (including bedding, food and labour) as this will be the main monthly expense. Depending on where one lives, monthly stabling can be as little as $150/month or over $1000/month. In general, the more urban an area is, the more expensive stabling is.

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.

Another consideration is how you use the horse. Riding the horse means that you will need to buy a saddle, tack and riding clothes. Showing or competing with the horse involves additional expenses.

Adding all this up, for the typical horse owner, the yearly costs run into the thousands of dollars. Of course, the exact figure depends almost entirely on circumstances. However, before buying a horse, it is wise to make sure that one is prepared for the long term financial commitment involved in keeping it.

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

categories: horse,horses,equine

Tags: Horses