If you are thinking about buying a horse, how do you know that you are ready for horse ownership? Owning a horse has probably been on your bucket list for a long time. For those of us bitten by the horse bug, it’s usually a lifelong dream that began as far back as we can remember.
You may have even owned a horse as a kid. But life happened and horse ownership was put on the back burner in favor of school, marriage, kids and work. Getting back into horses after age 40 or 50 or even later is quite common.
This is my story as well. I loved horses all my life. My parents finally caved and bought me my first horse when I was 14. I owned several horses as a teenager but felt the need to sell my horse during my second year in college. I didn’t return to horse ownership until I was 43. By that time, two of my children were in college and beginning lives of their own.
Horse ownership should not be impulsive. It’s a commitment to a life style really. Before deciding on buying a horse, you will want to consider the following:
Financing Horse Ownership
Are horses expensive? Yes. Is it worth it? Yes.
Being able to afford a horse is a lot like being able to afford having children. Those that love them will find a way.
There are a lot of factors that go into the costs of horse ownership. I read a statistic recently that horse ownership can cost between $3000-$4000 a year. This is probably pretty accurate, if you don’t plan to show. Showing and competing adds additional expenses and can vary depending upon discipline.
Typically your expenses will include:
- Initial cost of the horse
- Board
- Feed
- Equipment and Supplies
- Farrier
- Vet
- Training
- Lessons
- Transportation
- Show Fees
It’s important to plan a realistic and long term budget before you begin your search for a horse.
I have a separate article called How Much Does it Cost to Own Your Dream Horse that you can check out and will walk you through all the costs associated with owning a horse in your area. It includes a budget worksheet that will be very helpful in your planning. You can also get the budget worksheet below.
Making Time for Horse Ownership
This is a big one. If fact, it may be more important than figuring out if you can afford a horse. The time commitment associated with horse ownership is huge. But again, we prioritize those things that are important to us.
Be realistic about the time you have available. I recently did a poll in a group of thousands of horse owners and their number one struggle was time.
If you are planning on keeping your horse at your home, you will need to be able to perform all the morning and evening barn chores associated with keeping your horse. You will also have to make arrangements for someone to care for your horse if you will be out of town or otherwise unavailable. Sometimes that’s easier said than done.
If you have a full time job, as many of us do, you will have to find time to ride and exercise your horse. Lessons will need to be scheduled as well.
If you are boarding your horse, you may have a little more flexibility with time. You are paying for someone to feed and care for your horse. You may also be able to find someone to exercise your horse when you are unable to.
Skills
If you’ve loved horses all your life, you more than likely have taken a few riding lessons during your lifetime.
It’s really important to do a true assessment of why you want to own a horse, what your goals are and what your current skill set is.
For those of us who are picking up riding later in life, then safety and fun are at the top of the list. Picking up riding after 20 years can be a challenge to us physically, mentally and emotionally if we aren’t ready for it. This article about riding after 50, will give you more tips.
Horse selection is key to being safe and having fun. Your first horse should be your teacher. You will want a partner that instills confidence and trust.
Picking a horse that requires abilities far above our skill set can be super frustrating and can chip away at our confidence. A horse that is highly trained above our current abilities or is too green is not a good choice.
For more information on horse selection, check out this article: Beginners Guide on Buying Your Dream Horse.
Deciding to buy a horse is a huge and exciting step. I’m excited for you! I’d love to hear where you are in this journey! Leave me a comment!
Enjoy the Ride!