A horse is a hoofed animal that is bred for a variety of reasons like carrying and pulling loads, racing, and riding. It is considered to be a fascinating animal and most people dream of owning one or more. Depending on the reasons you would like to keep one, a horse can be a pet or a farm animal. Before purchasing this animal, a few factors have to be considered as owning one comes with a lot of responsibilities and you will need to set aside resources to cater for its needs. How much does it cost to own a horse is a question that this article will help you answer.
How Much Does It Cost to Own a Horse?
1. Cost of Land
You cannot own a horse if you do not have a place to put it. If you have a big enough land, you have to set aside a portion that will be enough for your horse to feed, sleep, and exercise in. You will, therefore, have to forego any profit that would have been obtained as a result of putting the set-aside portion to other productive means. If the land you own is not enough for rearing a horse, you will have to find another parcel that you can purchase. It is advantageous if the newly acquired piece is next to the one you already own. When balancing your accounts, the amount spent to buy land for breeding or rearing one should be credited as an expense. It is a cost that one has to incur in order to own the animal. A horse requires about two acres of land whose cost is roughly $6,000.
2. Building a Shelter for the Horse
The cost of a barn is an essential factor to consider when wondering how much does it cost to own a horse. If you have the skills, you can construct a horse barn yourself, but if you do not know how to, it is advisable to hire someone or a company with the requisite skill and experience. A shelter should have a resting area where the horse can sleep or rest when it is not doing anything. The zone should be well built to make the animal feel comfortable. A feeding area is also part of the shelter. It should have well-constructed food and water troughs. Keep in mind that these troughs come in different designs and quality. It is advisable to go for the ones that are known to be made using strong and durable materials. They will last longer, meaning you will not have to incur costs of purchasing new ones after a few months or years. There are also different types of barns, and the cost of constructing each varies from the other. As much as taste and preference determine the kind that you will choose, also take your time to consider the resources available. Do not blow your budget. Talk with a reputable construction company and find a way of optimizing the money you have. Keep in mind the barn will need regular maintenance. Some parts may break or wear off with time. These should be fixed or replaced if necessary to avoid accidents. One should be prepared for such expenses when they are considering owning a horse. The cost of building a barn is approximately $2,300.
3. Health Care Services
Your horse is bound to fall sick or get into an accident now and then. When thinking of how much does it cost to own a horse, consider how far or close a veteran is. Their accessibility plays a big role in your expenses. If they can pay house visits as soon as they are required, that will be better. Look into how much they charge for their services and be sure you can afford it. Examples of health care services that a horse may require include cuts, bruises, and in worst case scenarios, surgery which costs about $4,500. Regular checkups are also necessary to ensure that your horse stays in a healthy state, especially if it participates in sports. Another vital healthcare service that horses need is the availability of necessary minerals and vitamins. They might get them from the food they eat, but the amounts are usually not sufficient. A veteran can prescribe additives for your horse that will keep all its organs functioning properly. You can also consider insurance cover for it. The cover comes in handy in case of severe accidents or illness.
4. Labor Costs
When wondering how much does it cost to own a horse, labor expenses should top the list. A horse will require someone who will look after it throughout the day. If a big chunk of your time is usually spent working on something else or even in a different location, you will have to hire someone. Taking care of a horse is quite involving. One needs first to create a schedule for it. Feeding time, exercising, and resting should be done at almost the same time every day. A program will help the animal get used to the environment, and it will also be more compliant. The hired help will also need to change food occasionally and remove the animals waste from the barn. They will also have to keep it clean and free from pests that may irritate the animal or even cause diseases. You should, therefore, be ready to pay a fair amount of money for the services rendered to your horse. The cost of labor is approximately $700 per month.
5. Training Costs
For a horse to stay in good shape and health, it needs to be often exercised. Training it requires an expert’s skills. You must be prepared to hire a trainer who will not only be easily accessible but also an expert at what they do. Such trainers do not charge a small fee. They will train your horse a few days every week, and if your horse participates in any sport, it will excel at it. It is, therefore, imperative to be prepared to pay for such services. Trainers charge from as little as $300 a month to several thousand dollars.
How much does it cost to own a horse is a question that anyone who has ever dreamt of owning one asks themselves. As graceful as the animal may be, you should be financially sound before deciding to own one. If you have an accountant, it is advisable to talk to them about the decision so that they can advise you accordingly.