Owning horses is something that all animal lovers look to do at some point in their lives. However, the cost compared to having a dog or a cat is striking.
It tends to be only the wealthy that can own a horse, as there are a magnitude of costs that come with owning a horse after buying the equine. But, how much does it roughly take to look after a horse?
Field & Stables
Before you even think about the horse you want to buy, you will need to examine the costs that you will need to put aside for the animal. Many of the costs that come with owning a horse centre around the rental of the field of livery where the animal will live.
Unlike dogs and cats, they aren’t exactly an animal that you can have roaming around your back garden, unless you have a big enough one. The prices that you will need to add up begin with the grass livery, which you can negotiate with a farmer or anyone with the space.
This is also one of the cheapest costs that you will need to bear in mind, as it could cost anywhere between £15 and £25. After this, you will need to take into account the stables where the horse will stay.
This is slightly more expensive, as it could cost up to £40 per week. Many stables offer both services, which could allow room for negotiation. However, still, this will cost up to £150.
Food, Vets Bills
Of course, like humans, you will need to feed the horses too, and this should also be taken into account. Typically, this isn’t an expensive part of owning a horse, as it could cost up to £10 a week.
The more exercise that the horse does, the more that this cost will be. For example, if you’re looking to buy a racehorse, then the cost of food will be much higher than the horses that are there simply as a pet.
The costs begin to quickly rise when you start considering the vet bills, insurance and dentist. All horses will need to have annual vaccinations to protect them from illnesses such as the flu.
These could cost around £70 per year. Meanwhile, the price of insurance will differ depending on the type of horse that you have. Dentist bills are also not cheap, as these will cost at the most £70 per visit.
You should also take into account shoe fittings and worming, which could cost up to £100 altogether.
Total Cost & Alternatives
It’s fair to say that owning a horse doesn’t come cheap, and it’s not something that you can do if you’re unsure whether you’re able to afford it in the long run.
As a tip, you should always put aside more than the amount of the bills just in case there is anything that goes wrong, and you need instant attention for your horse.
One aspect that we also haven’t taken into consideration is a trainer for your horse if you’re looking for it to be a racehorse.
Once again, these will not be cheap. Due to the price of owning horses and the running costs that you must pay. Many that look to buy a racehorse ultimately decide against owning one outright, and instead look to join a syndicate.
These have become exceptionally popular over the past couple of years, as they offer all the same services as owning a racehorse, but on a budget.
Members in syndicates can see their horse whenever they like, and also get the added advantage of owners’ passes for the biggest race meetings.
However, if you don’t own a horse you can still enjoy horse racing competitions. Click here to visit TwinSpires.com and check out the current Belmont Stakes odds.