Posts Tagged ‘rough guide’

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.

People working with horses (breeding, training or sales) are understandably reluctant to tell potential buyers how expensive horse care and ownership is. If a potential buyer is debating if they can spend 00 to buy a horse, telling them that keeping the same horse will cost another 00 every year may well result in them deciding not to buy a horse at all. While some sellers are careful to explain this reality to potential buyers, we find that most prefer to avoid the topic.

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.

To start, ask if the horse will be professionally stabled or if one is stabling the horse oneself. In the former case, costs (including box, bedding, food, labour) can vary from 0/month to 00/month although 0-0/month is typical. It depends mainly on where you live (urban areas are more expensive) so you will need to phone around to check the local costs.

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 0/month. If you have lots of pasture, you can spend a bit less on feed. Keep in mind that 0/month is a minimum, in some areas bedding and feed (especially hay) can be far more expensive.

Aside from the basic monthly costs, there are various incidentals such as mineral stones, salt, de-wormers, dental checks and annual innoculations. Allow about 0/year for these. In addition, if you decide on medical insurance, this will be an additional /month. Of course, insurance is optional, but a bad case of colic can cost thousands of dollars, as can certain other injuries or illnesses, so it may be a good investment.

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.