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Budgeting
for a horse

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FIRST TIME HORSE OWNER 

 
First Time
Horse Owner:

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BUDGETING FOR A HORSE
Cost of Owning a Horse
 

Most people have heard that the purchase price of the horse is the least expensive part of the project. Where you live, the level you are riding and type of horses all influence the cost of a horse. The following figures are generalized figures for first time horse owners.

Please remember that a cheap horse is not necessarily a good buy.  Most important is the horse's appropriate education, temperament and soundness.

Horses can cost much more, but for most people the first horse cost should  fall between the following price ranges:
Purchase Price $1,500.00 - $15,000.00
Pre-Purchase Exam $70.00 - $1,000.00
Tack & Equipment   (Annual) $1,000.00 - $5,000.00
Commission on Purchase 10% of purchase price
Health Care   (Annual) $120.00 - $600.00
Farrier   (Annual) $120.00 - $1,200.00
Insurance   (Annual) 3.2% - 8.5% of purchase price
Feed & Bedding   (Annual) $720.00 - $2,400.00
Supplies   (Annual) $200.00 - $1,200.00
Total Full Care Boarding   (Annual) $2,400.00 - $7,200.00
Lessons   (Annual) $1,290.00 - $7,200.00
Training   (Annual) $3,600.00 - $10,000.00
Transportation (At purchase and annual) Depends on the number of miles you need to trailer, whether you own your own horse trailer and how often you need to do trailering. 
(
See Transporting Your Horse section.)

Note: All amounts in US Dollars

 

To repeat what is stated in the previous step (Determining What Horse Is Best For You):

Take a look at your finances.  Decide how much a year you can devote to your hobby (which is in addition to your up-front purchasing costs).  Budget it and stick to it.   If you get in over your head financially, it will take the pleasure out of your activity.  There are many ways to enjoy a horse, some more expensive than others, all waiting to be matched with your interest and financial situation.  Keep in mind that it is not always easy to sell a horse, so plan your budget by the year.

 

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