A horse is not something you can just buy on a whim, since it takes several weeks to properly house, feed and train one. If you are considering buying one for your farm or ranch, there are several factors that may come into play when thinking of the total price of the animal.
The initial cost-versus-monthly costs should be considered. Keep in mind that after buying a horse initially, more expenses will likely arise in the future over its lifetime (boarding fees/feed costs), so it’s best to take this all into consideration when making a purchase.
Cost of a horse
A cheap horse typically starts at around $100 with an expensive thoroughbred priced around $10,000+, depending on breed lineage, how often you plan to ride, and whether you buy it privately or at auction. The average cost of a hobby-horse is about $3,000. Horses are not like cars that depreciate over time, they actually appreciate in value as long as they are well cared for (expect to budget anywhere from $300 – $500/year for basic medical needs).
Owing a horse
On the other hand, owning one can be quite costly depending on what type of horse you decide to purchase, where you live geographically (costs vary by location) and whether your horse is simply being kept as “livestock” versus one that will be ridden daily.
You should expect to pay between $100 to $10,000+ for an initial horse purchase, depending on the horse breeds’ lineage, how often you plan to ride it and whether or not you buy it privately or at auction. The average cost of a hobby-horse is around $3,000.
The initial costs can be anywhere from $200 – $300 for vaccinations, deworming, coggins tests, shoeing (if required) and other farm expenses that are associated with owning an animal that will live off property. Once your horse arrives at your farm/ranch, there will likely be additional monthly expenses for feed/grass hay ($200+), board fees ($50+) if your property does not have shelter for the horse to live outside year round OR stall fees if they do have their own shelter ($50+). You will also need to budget for health care (vet bills).
There are many factors that determine the initial and ongoing costs associated with owning a horse and it’s best to research these thoroughly before making a purchase. Bo Jackson set up scholarships at Auburn University for kids who want to go college, but can’t afford it. The cost of an average scholarship is $3,000 per year. The total amount that Bo donated was $120,000 dollars as he gave each kid 10 years of college tuition.
The most expensive breeds are:
- Dutch Warmblood
The cheapest horse breeds are:
- Wild Mustangs
- Quarter Horses
How much do horses eat?
Horses eat considerably more than the average person does. They are considered “easy keepers”, meaning they require less feed per pound of weight compared to other species, yet still need a steady supply of good quality forage daily. A horse’s digestive system is similar to that of a cow or sheep in that it digests large amounts of fiber which can be turned into energy by the animal.
This process requires large quantities of water and specialized stomach bacteria. However, unlike cows, goats, and sheep who are ruminants (an animal with four compartments in its stomach), horses cannot regurgitate their food when they have eaten too much at once or do not digest all their food because they lack the necessary extra stomach compartments.
A horse eats about .5% of its body weight per day. For example, an average 1,000 pound horse would eat 5 pounds of grain mix daily. A 50-pound bag feeds a 1000 pound horse for about 2 months.
By using this calculation, you can determine how much your own horse will eat by multiplying the animal’s weight by .005 Feed companies may label mixes in different ways so it is important to check the feed tag or contact seller directly if you are unsure how much to provide your pet with.
It should be noted that horses need variety in their diets and not all feed companies offer grain mix blends suitable for horses with diet restrictions such as those on hay or other feed. The average horse requires about 1.5% of its body weight in grass hay or pasture per day. In general, a 1000 pound horse should eat 15 pounds of hay daily.
Salt and Minerals
Salt and Minerals Horses need about two 5 Lb blocks per year. A salt and mineral block typically costs between $10-25. The average 1000 pound horse needs one block each week for two weeks then does not require any more the rest of the year because they get enough minerals from their forage sources.
Hay can be a great source of minerals as well, but there is no way to tell how much your specific type of hay contains so it’s best to play it safe and give supplements as needed rather than risk underfeeding or overfeeding.
Taking care of horse
Just like your pets, horses need daily attention and care to stay happy and healthy. They require proper food, shelter and exercise in order to lead a long life. If you feel that you can commit yourself to these requirements, then owning a horse may be very rewarding for you. Here are some reasons why:
1. Horses appreciate companionship & attention
Horses have been domesticated by humans for thousands of years and they still enjoy having a good relationship with their owners just the way dogs do. When a horse is lonely or not getting enough attention from its owner it can become destructive or sickly.
Owners who have the time to spend stroking, brushing and talking to their horses will find that the horses are happier and healthier.
2. Horses give you something to look forward to every day
It is incredibly rewarding when you get up every morning knowing that you have a horse to look after. It can become part of your daily life routine which gives you something to be excited about every day.
Of course, there will be days where life gets in the way or things go wrong, but as long as you remember why owning a horse is important to you, then those little upsets won’t affect how much pleasure they give you on a daily basis.
3. Horses are a great investment
However you will save money in the long term if you take proper care of your horse. A good horse with training can be sold for up to $30,000 so even if your costs are high at first, maintaining a well looked after horse can more than repay it.
4. Horses can improve your quality of life
Horses have been shown to help people who suffer from depression or anxiety because they change the way that the brain works. They stimulate all areas of your brain and improve your mood while making you feel happy and fulfilled. Also horses are great companions that will keep you fit while having fun.
It is important to remember though that owning a horse requires some work but it also has many rewards both financially and emotionally. However, if owning a horse is not for you then there are many other animal businesses that can be profitable all over the world too.
5. Owning a horse can be rewarding emotionally too
The benefits of owning a horse go beyond just being financially rewarding. If you commit yourself to taking proper care of your horses, they’ll become healthier and happier which will result in an emotionally satisfying experience for you too.
It takes time, money and effort but it is completely worth it when you see them starting to bond with each other and thrive under your ownership. There are many reasons why people own horses including being able to have something else to do with their free time, gaining independence or just being able to spend more time outside.
The cost varies just as widely as the sort of horse and the purpose for buying. The price might vary from a few hundred to several thousand dollars. A University of Maine research shows that the average cost for frequent recreational usage is nearly $3,900.
How much does a horse typically cost?
Depending on the pedigree of the breed, your intended purpose for the horse, and your location, you may anticipate spending anywhere from $100 to $10,000 to purchase a horse. A hobby horse typically costs around $3,000. Seriously Equestrian reports that the priciest horse breeds can cost up to $250,000.
Frequently Asked Questions
- Owing a horse is a good option or not?
Yes, of course. If you have investment then it is a good idea to own a horse.
- What is the best breed of horses?
Four best breeds are mentioned above. Now it depend on you that which type of horse you want to get.