It’s a question that echoes among horse enthusiasts, “Can I have a horse?”. Most often the answer is, “Yes, you can – but should you?”. Of course, this is an individual decision with many factors at play. A question we can better consider together is, “What does it cost to have a horse?”. Once you have considered what your life looks like with a horse in it, you will be better prepared to make a solid decision about horse expenses.
Time or Money
It’s a common thought that you have to be rich to own horses. Certainly, having an abundance of horsey funds is helpful, but having been a “starving rider” most of my horsey-life I can say it’s not absolutely necessary to be rich. However, it is accurate to say that you will pay one way or another. If you have limited funds, then you need to plan on investing a lot of your time to have success. If money is not such an issue, then you are essentially buying someone else’s time for care and training. In either case, getting matched up with the right horse is essential because all the money in the world can’t make a horse like you or work well for you if it doesn’t want to.
You Get What You Pay For
So, without getting off the subject of cost let’s talk about how the purchase price relates to upkeep costs. In short, buying a cheap horse does not necessarily mean it will be cheap to keep and buying an expensive horse does not necessarily mean it will be extra costly to keep. Each horse option that comes along needs to be evaluated individually with long term goals in mind. For more information on how to choose a horse click here.
If you are getting a horse out of a questionable background such as an auction or a horse that’s been passed around you can expect your upfront care expenses to be higher, even though your purchase price is likely lower. For example, a horse that’s had its feet neglected may need extensive farrier work to get their feet healthy. A horse that’s underweight may not be as simple as feeding it up. There are conditions like parasite overloads, poor dental care and underlying medical conditions that can cause a horse to appear poor. Though successful “rescue” situations are very rewarding, it is always a gamble. You can certainly find nice horses who landed in bad circumstances, your percentages of success are going to be lower than finding a horse through a reputable seller.
Another “budget” angle that is commonly taken is purchasing a young or green horse. On the backside, you now have the responsibility of training and raising said beast. And beastly a horse certainly can be if not trained properly. If you do not have experience handling green horses, this is not a good route for the first-time horse buyer. There is an old horseman’s saying, “Green plus green equals black and blue”. Remember it, believe it.
A green horse is an undertaking for an experienced horseman or at least someone working closely with a trainer. And once again, trainers cost money. Even if you have the experience to handle this situation, you will need to put in the time. Hours and hours and hours of time… for years, to get this horse where you want them to be. A green horse will commonly need to be ridden five or more days per week to make steady progress. In contrast a well trained, mature horse will typically require less training time, perhaps about three rides per week depending on their job and temperament. You will likely pay for the horse’s existing education in the purchase price.
Board Situation
Whether you pay $500 or $50,000 for your dream horse, it will need to be cared for. It’s very important to know what your boarding facility offers as it impacts your time investment and your financial obligation. At a self-care boarding barn you will pay less in monthly board. However, you may need to buy your own feed and hay and you can expect to be there to feed your horse once to twice per day. So your time and fuel will go up. In a self care situation I find the most basic of daily care providing hay, grain, water and cleaning a stall takes approximately an hour per day for the first horse and fifteen minutes per additional horse. Then add any driving time to and from your barn and training time actually playing with your horse.
If you have a full care boarding facility your feed and hay may be included, and you will not need to show up daily for care. You will still need to find out exactly what “full care” includes. Some barns may truly mean that you will never have to show up for your horse to be cared for. This is the most expensive level of care. Others may mean that they do basic daily care, but if you want your horse’s blanket changed or medications given you are on your own or upcharged. There may even be fees for your horse being handled for the vet and farrier if you are unable to be present. None of these situations is “wrong” or “bad”; they are just different and it’s up to a horse owner to decide what they want to deal with. There is no such thing as perfect!
Veterinary Care
Now let’s talk vet expenses. Whatever barn you are considering, try to find out roughly what their annual vet costs are. Using the same services as others at that barn can help cut your expenses some by splitting farm call fees. Some barns will let you choose your own service providers – if that’s the case you can shop around some. No matter make sure you stick with reputable services. The highest price to pay is poor care for your horse by cutting the wrong corners.
In addition to annual vaccines, also plan for the garden variety emergencies such as lacerations, allergic reactions, hoof abscesses and eye ulcers just to name a few potential veterinary expenses. Most medical emergencies can be handled affordably, with a few hundred dollars due on the spot. But larger issues like colic could cost several thousand (and that’s not even going to surgery). Building an emergency fund is important.
Farrier Care
As for more routine farrier expenses, most horses will need to be seen every 5 – 8 weeks for trims and/or shoe resets. As with everything else, don’t assume that your horse’s hoof care needs will never change. I have seen many horses come in barefoot who were out of work or ridden on grass and were sound. After a few weeks of working in a sand arena their feet had worn down and they became footsore. Likewise, a horse who comes to you with four shoes might not need them after a while if you are riding lightly or on soft ground. It’s a good idea in general to assume that the more work your horse is asked to do, the more care he will need to be happy doing it.
Example
That concept applies to feed regimens as well. I bought an appaloosa mare and at the time she was barefoot and fat as a tick. The poor thing waddled rather than walked and was winded after jogging barely a full lap around the arena. I bought her with two students half-leasing to back the purchase. Within two months I was working to keep weight on the horse. She was getting three scoops of grain per day and coming in every night for the winter weather. She even had a blanket that covered her from ears to tail because she grew NO winter coat whatsoever. Oh, and she had four shoes. However she did shape up to be a very attractive, athletic, useful animal.
This is a prime example of how level of care is dictated by level of work. If I had neglected to step up her care along the way, our outcome could have been very different. She could have gotten too thin left out in the cold with no stall, or gone lame with no shoes. In either case leaving me with an ailing horse and displeased leasing clients.
Incidentals
Finally, you will need to account for incidentals and seasonal expenses. Even what area of the country you live in will affect your expected costs. For example, if you live in the northern part of the country you will spend money in blankets each winter. Meanwhile in the southern parts of the country you may be looking at more fly control kinds of expenses. There will always be first aid supplies needed and don’t forget your tack; acquiring tack is an ongoing process. The big purchases like saddles are usually only once every number of years, unless you change riding style or you have growing kids riding. But you’ll routinely find need for other items like bridles, bits, girths, saddle pads, halters, lead ropes, fly masks, etc. Basically you should expect to find yourself shopping for something every few weeks.
One Final Expense (last but not least)
Something many new horse owners overlook is insurance for your horse. There are some different insurances available but the absolute must have is personal liability insurance. If your horse is strictly your a personal animal and you will never make money from him, then your home owners insurance can often cover him cheaply with just a phone call to your agent. However if you ever choose to lease your horse out or allow him to be used in a lesson program you need to find a company that deals more specifically with equine liabilities. Markel Insurance Company is one of the largest in the country, as one example. Don’t skip this! If you can afford to have a horse, you can afford basic personal liability insurance on it.
Separately, you can get medical and mortality policies to help if your horse gets badly injured or if you would consider going to colic surgery in the event one is recommended. It also helps replace the value of your horse if he dies, or is permanently disabled. These policies usually won’t cover a horse past twenty years old and may drop horses even sooner for medical reasons. I consider medical and mortality policies very optional as they can get pricey depending on the value of your horse and the level of protection you are seeking. In many cases the cost of unused policy premiums over just a couple years would total the expense of a moderate emergency veterinary bill. It’s all in the value of your horse and the size of your wallet to find a balance of coverage that gives you peace of mind and doesn’t break the bank.
A Little Perspective
Many of these sorts of expenses come along in time, not all at the front end of buying a horse. You can pretty much assume the entire first year of owning a horse will be an adventure and learning experience. Each season holds its own set of challenges. Until you have made it through the first year you really never know what’s around the corner. But let’s be real, even then you never really know what to expect with horses! Bring your sense of humor along for the ride and enjoy the journey.
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