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Working in the horse business, I often get asked how much a good horse costs. Unfortunately, the question is almost always in terms of ‘how much to buy’ rather than ‘how much to keep’. The sad truth is that far too many people are buying horses and then finding that they cannot afford to keep them.

This ignorance is in part the fault of people working in the horse business as breeders, dealers or trainers. After all, if a potential client is unsure if they can afford to buy a horse, telling them that owning it is even more expensive is a good way to lose the potential sale. Of course, some sellers are honest enough to explain this, but far from all.

If you know someone looking to buy a horse, you can do them a big favour by letting them know the financial implications in advance. Of course, it is hard to quote a specific number as costs vary from under $50/month to over $1000/month depending on circumstances. However, here are some tips on how to do a rough calculation.

First of all, ask if the horse will be stabled with someone else or will be stabled with them. If stabled with someone else, then phone around to see the monthly costs of stabling (including bedding, food and labour) as this will be the main monthly expense. Depending on where one lives, monthly stabling can be as little as $150/month or over $1000/month. In general, the more urban an area is, the more expensive stabling is.

If one is stabling the horse oneself, the main costs are bedding, food and labour. Bedding costs will depend very much on the type of bedding and where one lives. If you are using straw, you will need about one small bale per day (12kg or 25lb) so check local prices. For food, figure that you need about 3%-4% of the horse’s weight each day. So a 500kg horse needs 15kg-20kg food each day. If you are feeding hay, phone around for local hay prices. In most areas this quantity of hay would be about $3/day, but in some places the price is as high as $20/day, so you really need to check local prices.

In additional to the regular monthly costs, there are a number of periodic costs: salt, minerals, wormers, annual dental check, annual innoculations. Medical insurance costs start at about $40/month. Of course, you don’t have to buy insurance but keep in mind that a serious illness (e.g. colic requiring surgery) or injury can cost thousands to correct.

Finally, one must consider the costs of not only owning the horse but also of using it. This includes saddle, tack, riding clothes, training for you and the horse. If you progress to showing or competiting with the horse, there will be further expenses.

All of this adds up to a considerable amount of money. For many people, the joy of owning and riding a horse more than makes up for it. However, before purchasing a horse, it is wise to look beyond the cost of buying to the cost of owning.

Doug Stewart is the author of Horse Costs, which provides related online cost calculators.

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