How Much do Horses Cost to Buy and Maintain?
January 9th, 2012 at 14:59Owning a horse can be a very rewarding experience. It’s definitely a large investment which needs to be taken seriously. A horse is a dream for most, seeing as the costs of getting a horse in the first place are not practical for most. Others see horses as a way to make money by buying racehorses in order to create a team.
Regardless of the purpose, buying a horse can be costly.
If you’re looking at buying a horse, it’s important to look into not only the initial cost of the horse but also its maintenance costs. Below are some of the costs to take note of when buying a horse.
The price of a horse itself can be staggering and the number can greatly vary depending on what breed, age and a horse’s lineage. On average a horse can fetch from anywhere between $1,000 to as high as $16 million. The huge price range is due to the fact that no horse is the same. The higher prices are typically reserved for the prize winners or the pure breed race horses that are worth a lot because of their ability to win championships.
Assuming you’re not looking to buy the champion pedigrees, a decent horse will still set you back at least a couple thousand dollars just to get the horse. It’s important to take note, however, that the costs of maintaining a horse can be just as expensive, if not more.
One of the first things to consider is boarding. If you have a large property where a stable can be built that shaves off a large cost of boarding your horse at a professional stable. Keeping your horse at a stable can run you anywhere between $200-$600 monthly.
If you won’t be keeping your horse in a professional stable, then all of the day to day maintenance needs to be done in-house which might prompt you to either do it yourself or hire a stable boy. This includes taking care of the bedding, food, salt and minerals.
Insurance is something that is optional but if you are grooming a racehorse it might benefit you to take insurance in order to greatly reduce your medical bills.
The cost of a farrier, vaccinations, dental care, a saddle & tack and other care items can add up, causing your maintenance costs to be anywhere from $2000 to $11000 yearly.