Earlier, owning a horse was considered to be a sign of wealth and status. A shiny black or white horse with its smooth skin and long legs can surely garner a lot of attention and pride to its owner. Many people secretly cherish an ambition to own a horse, but shy away due to the very high cost involved in maintaining one. Besides, city folks may not be able to materialize their dream due to lack of space. Those of you who have enough money and space may like to read this article on how much do horses cost per month.
Factors that Decide the Cost of Owning a Horse
The cost to keep a horse for a lifetime can run in hundreds of thousand dollars. However, this cost is influenced by several factors. If you decide to invest in a racing horse belonging to a fine breed, then we are talking about at least a million dollars here. Given below are some factors which decide the cost of a horse.
The price of a horse, though slightly high, can be affordable to many people. An average horse may cost you about $2000 – $10,000. However, cheaper horses may either belong to a mixed breed or might old. These horses are not at par with professional racing horses. Younger horses with good lineage are the most expensive ones. An Arabian racing horse may cost you as high as $25,000 or sometimes even more.
You need to provide shelter to your horse that is equipped with basic amenities. Depending upon the type of stable you choose to build for your horse, the price may start from a few hundred dollars for the most basic one, with just a roof and props to a few thousand dollars with sophisticated features such as fans, and exhaust, amongst others. On average, the upkeep of a stable may cost you about $250 per month, which comes to about $3000 per year, or $60,000 over a span of 20 years. Stables in rural areas are likely to cost a lot less than those in urban areas.
Food cost is another major factor that determines the overall cost of keeping a horse. The cost of horse food such as straw and hay will come to about $1000 per year, which is $20,000 for a span of 20 years. Add to that the cost of salt and nutrients, which amounts to about $500 a year.
Just like any other domestic animal, your horse is also susceptible to many diseases and illnesses. A vet’s bill may run quite high and your animal’s insurance may not cover all of it. Minor horse health problems may cost you about $500 a year. However, if your horse suffers from anything serious, you may have to shell out several thousand dollars.
Some countries make it mandatory for owners to insure their pet against theft, death, diseases and immobility. These insurance premiums can cost a bomb over an extended period of time.
If you intend to use your horse for racing purpose, you may have to keep aside several thousand dollars for its training. Besides, you may yourself have to get some professional training.
Apart from these major costs, your horse may demand several other maintenance issues. You may have to give its hooves a trimming every 2 months which costs about $30. Maintenance of horse shoes costs an additional hundred dollars a year.
All in all, owning and maintaining a horse can be an expensive proposition. Especially if you are thinking about owning a race horse, be prepared to have at least half a million dollars in savings. Hope this article on how much does a horse cost was resourceful.