It is often said that if you ask a question to 10 horse owners, you will get 10 different answers.
However, one thing all agree upon is that horses are expensive. Affording the initial purchase cost is the least of required expenses.
Calculating the maintenance over the horses’ lifetime is a more realistic look at a long-term budgeting plan. How much does horse ownership really cost? The short answer is that it depends.
There are many variables that come into play when calculating the cost of horse ownership.
“How much does a horse cost?” is a frequently-asked question, and like many things in the horse world, the answer is highly variable. Horses can cost anywhere from nothing to millions of dollars.
Realistically, one can expect to spend a few thousand dollars to find an appropriate mount, though this price will depend on the market, the type of horse, intended use and your location.
The purchase price is not the only expense you will encounter when horse shopping.
Before buying a horse, it is recommended that you have a trusted veterinarian conduct a pre-purchase exam. After the examination, the vet will give you an opinion on the horse’s strengths and weaknesses and discuss any potential problems. This exam will cost anywhere from a few hundred to $200,000, depending on the extensiveness of tests performed and whether you decide to have x-rays taken.
Remember you will also have to buy all the necessary supplies for your horse: grooming equipment, tack, blankets (if needed) and medical supplies. The cost of these individual items may seem small, but they quickly add up.
Your horse has routine care needs. If you are boarding at a stable, the monthly bill can range from $300 to $3,000, depending on the services provided.
Usually, board includes: food, water, shelter and basic care – however, you may need to provide extra feed and supplements (including salt), or pay for additional services such as blanketing.
Keeping your horse at home can be less expensive than boarding, but you will have to pay to maintain the property and provide your horse with feed, water and daily care.
Other essentials include routine hoof care by a reputable farrier or trimmer, approximately every six weeks. A vaccination schedule should be discussed with your veterinarian for annual core vaccines and others which will depend on each horse’s individual needs and infection control measures recommended for your area. Your horse may require medication or supplements;
As a horse owner, you will need to learn to be ready for unexpected costs – your horse does not know when the next pay day is, or whether you’re planning your next vacation. The horse may need immediate veterinary care, board might increase or the price of hay may suddenly sky rocket. The average horse owner should have a plan to deal with unexpected costs. Common health problems, such as colic, can leave you with thousands of dollars of vet bills. Even relatively minor health problems can become costly. Vet visits, medical supplies and care costs quickly add up. It is important to always have a plan to deal with unforeseen costs; you might consider creating a horse specific savings account, or purchasing equine insurance.
While it is entirely possible to pay only horse-related expenses, if you intend to ride or drive your horse, there will be human costs. Appropriate clothing is a must to stay safe around the barn. You will need a helmet, gloves, breeches or jeans and a boot or shoe with a low wedge heel. While you need not buy expensive clothing, safety is a must.
You will likely require lessons to learn how to properly ride and/or drive and handle your horse. Expect to pay anywhere from $30 to $100 dollars a lesson. If you are planning on showing your horse, be prepared to get out your cheque book. At the introductory levels, a schooling show will cost about $200 when you add up trailer, coaching, office and class fees. Show fees increase as one moves up through the levels.
Horses take a toll on more than just your wallet and you will need to invest emotional and physical resources, as well as time. Driving to the barn, grooming and working a horse can require upwards of two hours at a time. For most horse owners this is a three- to six-day-a-week commitment. Are you capable of staying up all night with a sick horse – or are you willing to pay somebody else to take on that responsibility? If you get injured by your horse, can you afford to take time off work to heal? Could you handle choosing between an expensive surgery or euthanasia if the situation arises? Horse owners often have to make tough decisions that impact more than their bank account.
To learn more about the cost of horse ownership, check out Equine Guelph’s “Cost of Horse Ownership” chart, which will outline necessary purchases and their average cost. You can also view the ‘The Real Cost of Horse Ownership” video, in which real horse owners’ talk about their experiences. Visit Equine Guelph’s Welfare Education page for more information http://www.equineguelph.ca/education/welfare.php.
