The purchase price of a horse is just one portion of the overall cost! If you do your research, you'll quickly find that the cost of a horse depends on the age, breed, and where you live. Where you live may dictate where you plan to keep the horse and what type of training and work you plan to do with your new buddy.
We address the larger areas you need to consider before you purchase a horse. Keeping your horse on pasture on your land will save you a lot of money if this is an option.
How much do horses cost?
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The price for a standard horse ranges between $3,000 and $5,000, according to Your Horse Farm.
Your Horse Farm also explains that while monthly and yearly expenses to maintain proper care can be substantial, it's important to know remember that many horse owners aren't wealthy:
"The American Horse Council dispelled the popular myth that all horse owners are wealthy with their 2005 economic study. They discovered 50% of horse owners only earn between $25,000 and $75,000 annually. Furthermore, 34% make less than $50,000 a year. You don't have to be rich to own one, but you should be well-prepared for their expenses. The average horse costs around $3,000 yearly."
What about stabling?
A good boarding facility isn't cheap, and upkeep can costs around $400-$500 a month. If you can provide horse care at home and board your own horse on pasture at your house, you'll save a lot on annual costs.
Horse ownership is a lot of work, so if this is your first horse and you live in an urban area, you'll need to get a strict budget together. The initial cost is a lot higher if stabling isn't possible at your home.
Consider those boarding costs before you purchase a foal or horse. Check and see if the boarding facility also has riding lessons and veterinary care on-site.
Are feed and health care expensive?
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Equine.com tells us that you need to maintain your horse's hooves too! A farrier will need to check and trim their hooves, which typically costs $25-30, and shoeing can cost $80-$100 every two months.
"Most horse owners spend about $60 to $100 per month on hay, salt and supplements - and some spend much more, particularly if they feed grain.
Routine medical care is an additional cost of owning a horse and includes vaccinations, de-worming and annual teeth cleaning. For a healthy horse, this can cost as little as $300 a year."
This doesn't include any emergencies!
Tack and stable equipment?
"The prices will vary considerably. Brushes can cost $5-$10 each, whereas saddles can be priced in the thousand dollar range. It's a good idea to budget at least $500 to purchase tack and accessories."
How much do Arabian horses cost? How much do Clydesdale horses cost? It really depends! These type of breeds will absolutely impact the overall cost of the horse.
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