Are you ready for ownership? Here is a look at the average costs:
Purchase price: $2500 - 7500 Average and up. (Goes up depending on end goals)
Equipment: $1500/avg and up. (this includes a saddle, saddle fitting which averages $200, bridle, blankets, halter, and any other basics you want)
Truck/Trailer (optional)- Ex. basic f150 (10-30 k) plus trailer ($5-15k) as a very basic average rig- one that we recommend saving money on and buying safe and useable rather than splurging. Mine was $15k, plus I have to remember added insurance for both, tire wear & tear, as well as repairs and gas during shows and events. So easily as an example, cost me an extra $5k on top of my rig this year. IF YOU DO NOT HAVE YOUR OWN RIG, hauling does cost money. Anywheres from $30-500, depending on whether you are going locally or provincially.
VARYING BUT NECESSARY EXPENSES
$250-300 - yearly teeth & vaccinations
$12-20 year- Rotational deworming program, minimum 4 x per year.
$40-240, every 6-8 weeks ($360-$420 if average trim was $40 and horse was barefoot)
Boarding - $150-200 for pasture board, no facilities. $350-400 for a facility at bare bones, outdoor, semi private to group board
If own property- $60- 100/month for feed on own land, plus your acreage fees and responsible for 2 feeds per day and ensuring consistent access to feed and water, as well as the time to check and maintain your horse and likely a buddy which adds cost.
Unexpected Vets Bills- can be $100s-1000s.
Average per year? At the lowest of the lowest, not including vehicles expenses or hauling, and based on pasture board and basic needs, $7200 for the first year, and $5k the next.
At the highest with $7500 price, best of the best and not including vehicle or hauling expenses, $15k for the first year and $7,600 after that. Ultimately, owning a horse averages $5000-12,000 a year.
These are NOT INCLUDING SHOWING, HAULING, LESSONS/TRAINING or VEHICLES.
At glance for a boarding facility with full facilities.... 350-400, which on average, is $8-11 a day for a facility. Facilities ultimately feed 2-3 times a day, in the winter water must be maintained which is $70-100/month heated. Water is done on avg every 1-2 days if troughs, or costs to maintain auto waterers. You get access to facility, with locker and use of riding arena etc. Plus the facility has insurance (4,500+ yearly= 500/month if 5k plus.), footing (10k+ to add to), etc. Most groom the arena on average twice a week. Barn cleaning. Etc. So a lot goes into a boarding facility. Which is why they charge what they charge. With an appropriate number of horses on property and not beating up property, costs are far from covered so if board is a tough expense then it is one that if you are lucky, you may be able to work off some of it by offering to work at the barn! Barns cannot stay alive when they are paying out of pocket.)
That being said- don't let the costs discourage you! Horses are a privilege and honor to spend our time with, and often when you are serious into horses, you tend to spend all your time with them which while potentially keeping you broke, may also save you money in the long run depending on your goals. I.e, you wouldnt buy a $15k Equitation Medal horse if all you wanted to do was plug around at local shows and on trails. You would perhaps look more in the $3-5k range, or sometimes get lucky around $2500 with a good horse from someone in a bind.
Leasing is a suitable option often for those who are unable to own, whether for various reasons. Maybe a purchase price isnt possible or the continual costs of care after the purchase (as the saying goes, the purchase price is the cheapest part of owning a horse). You can choose a partial lease, in which all that is required is partial board with option to ride 2-3 days a week, you dont cover any other expenses, borrowed or own tack depending on your lease agreement.
Full lease means you take over the horse and expenses, often also paying a yearly lease fee in show facilities their upkeep and board. This gives you the option to ride 6 days a week however.
Pros to leasing? You have use and access to horses and tack, without the commitment of ownership or the burden of the full cost of owning if you need only a partial lease. You get a horse to love and enjoy as your own. It also gives you the ability to swap lease horses as your ability changes and grows, without having to sell your horse and purchase a new one. Its ultimately a cheaper, stress-free way of enjoying your time at the barn if you are not ready or do not feel you can afford to be a horse owner. You still get options often times to show or go on outings with the horse etc in which pay your own hauling and show fees, clinic fees, etc. Its the same amount of fun, but half the commitment in cash or time.
Purchase price: $2500 - 7500 Average and up. (Goes up depending on end goals)
Equipment: $1500/avg and up. (this includes a saddle, saddle fitting which averages $200, bridle, blankets, halter, and any other basics you want)
Truck/Trailer (optional)- Ex. basic f150 (10-30 k) plus trailer ($5-15k) as a very basic average rig- one that we recommend saving money on and buying safe and useable rather than splurging. Mine was $15k, plus I have to remember added insurance for both, tire wear & tear, as well as repairs and gas during shows and events. So easily as an example, cost me an extra $5k on top of my rig this year. IF YOU DO NOT HAVE YOUR OWN RIG, hauling does cost money. Anywheres from $30-500, depending on whether you are going locally or provincially.
VARYING BUT NECESSARY EXPENSES
$250-300 - yearly teeth & vaccinations
$12-20 year- Rotational deworming program, minimum 4 x per year.
$40-240, every 6-8 weeks ($360-$420 if average trim was $40 and horse was barefoot)
Boarding - $150-200 for pasture board, no facilities. $350-400 for a facility at bare bones, outdoor, semi private to group board
If own property- $60- 100/month for feed on own land, plus your acreage fees and responsible for 2 feeds per day and ensuring consistent access to feed and water, as well as the time to check and maintain your horse and likely a buddy which adds cost.
Unexpected Vets Bills- can be $100s-1000s.
Average per year? At the lowest of the lowest, not including vehicles expenses or hauling, and based on pasture board and basic needs, $7200 for the first year, and $5k the next.
At the highest with $7500 price, best of the best and not including vehicle or hauling expenses, $15k for the first year and $7,600 after that. Ultimately, owning a horse averages $5000-12,000 a year.
These are NOT INCLUDING SHOWING, HAULING, LESSONS/TRAINING or VEHICLES.
At glance for a boarding facility with full facilities.... 350-400, which on average, is $8-11 a day for a facility. Facilities ultimately feed 2-3 times a day, in the winter water must be maintained which is $70-100/month heated. Water is done on avg every 1-2 days if troughs, or costs to maintain auto waterers. You get access to facility, with locker and use of riding arena etc. Plus the facility has insurance (4,500+ yearly= 500/month if 5k plus.), footing (10k+ to add to), etc. Most groom the arena on average twice a week. Barn cleaning. Etc. So a lot goes into a boarding facility. Which is why they charge what they charge. With an appropriate number of horses on property and not beating up property, costs are far from covered so if board is a tough expense then it is one that if you are lucky, you may be able to work off some of it by offering to work at the barn! Barns cannot stay alive when they are paying out of pocket.)
That being said- don't let the costs discourage you! Horses are a privilege and honor to spend our time with, and often when you are serious into horses, you tend to spend all your time with them which while potentially keeping you broke, may also save you money in the long run depending on your goals. I.e, you wouldnt buy a $15k Equitation Medal horse if all you wanted to do was plug around at local shows and on trails. You would perhaps look more in the $3-5k range, or sometimes get lucky around $2500 with a good horse from someone in a bind.
Leasing is a suitable option often for those who are unable to own, whether for various reasons. Maybe a purchase price isnt possible or the continual costs of care after the purchase (as the saying goes, the purchase price is the cheapest part of owning a horse). You can choose a partial lease, in which all that is required is partial board with option to ride 2-3 days a week, you dont cover any other expenses, borrowed or own tack depending on your lease agreement.
Full lease means you take over the horse and expenses, often also paying a yearly lease fee in show facilities their upkeep and board. This gives you the option to ride 6 days a week however.
Pros to leasing? You have use and access to horses and tack, without the commitment of ownership or the burden of the full cost of owning if you need only a partial lease. You get a horse to love and enjoy as your own. It also gives you the ability to swap lease horses as your ability changes and grows, without having to sell your horse and purchase a new one. Its ultimately a cheaper, stress-free way of enjoying your time at the barn if you are not ready or do not feel you can afford to be a horse owner. You still get options often times to show or go on outings with the horse etc in which pay your own hauling and show fees, clinic fees, etc. Its the same amount of fun, but half the commitment in cash or time.