Pragmatic Support on Buying a Horse

[Chanel No5]

I volunteer at an equine rescue. In my twenties, I made a living working with horses and managing a private barn. My skills, including riding skills are returning along with strength and happiness at being around horses again. I thought that part of my life was over. I am 55 and have an office job with an annual salary at $43 K. I am single and pay a mortgage. That is my largest debt. I own my car, have no credit card debts and a long term no interest loan on an installed heating system. It's under $2K at payments of $102 per month. Very manageable.

Well, the thing is I am daily considering adopting one of the rescue horses. Average cost of board in my area is $500-600 per month not including farrier and vet expenses. The stable were I take lessons offers a basic board at $240 per month with the owner providing feed and bedding. Whatever happens, I would need at least $400 a month for rough board and I have to do most of the labor myself. I commute to work about 40 minutes each way.

So, tell me this is a dream I cannot manage without consequences to me and the horse. This is a long term commitment and I see on paper, I would be barely making ends meet without including things that happen, or break, or replacing the car someday. Tell me it's not thinking straight and to move on, just volunteer at the rescue and be happy about it.

[TrulyStashin]

Like you, when I was young I was a horse-girl.  I owned 3 horses (not concurrently, one at a time) and got free board by working at the barn -- plenty of time to do that as a teenager.

I'm sure I don't have to remind you of the cost of even one vet call for a sick horse?  What about farrier costs?  Worming & vaccinations?  Buying, repairing, or replacing tack?  You need an emergency fund fat enough to protect yourself AND the horse.  Do you have that?

If, in your gut, you KNOW you don't have the resources to cover all of this then don't do it -- it won't feel good.  Keep volunteering and know that you're actually getting the best possible deal.  You can love a particular horse (more than the others) but not be responsible for it as an owner.   

Also, there is substantial benefit to riding many different horses instead of the same horse all the time.  When I was riding, my bff didn't own a horse.  She rode whatever pony was available and as a result her skills surpassed mine.  She rode the green ones, the sticky ones, the slow ones, the hot ones, and the cranky ones.   She learned how to get each type of horse to do what she needed it to do and she was damn good at it.  By contrast, I rode only my horse(s) and never developed her degree of skills.  When we reminisce, she has a range of memories that I don't have.  For her, it's "Remember so-and-so, he pulled like a train!"  or  "That Strawberry was such a slug!!"  Cultivate gratitude for what you have -- it sounds like you've got a pretty sweet deal!

[bogart]

I've ridden "all my life" (close enough as makes no difference) and bought a horse (most recently) as I was finishing grad school.  Owned him for 15 wonderful years across a range of different living (and boarding) situations before he died (of colic).  Wonderful creature, wonderful partnership. 

Horses:  so wonderful.  Horse ownership ... OMG.  Such a commitment.  When mine died, I started riding friends' horses and have stayed there.  I'm not saying I'll never buy a horse again (never say never...) but I sure don't anticipate buying one anytime in the near future (and I'm not getting any younger, about a decade behind you). 

Do you have adequate retirement savings?  How secure is your job?  If you bought a horse, would s/he be young/healthy enough to be insurable?  How would you cover big vet expenses (or little ones)?  I have seen several people at my barn recently go through major injuries to their horses caused by basically nothing (i.e just routine stuff) that have almost certainly cost them thousands of dollars (even though those horses were insured), not to mention hours.  One of the two just had her lovely horse euthanized after a long and difficult effort at rehab that ... didn't work (my own guy died from colic caused by adhesions one month after I spent about $8K on colic surgery).   What would you do if you suffered an illness or injury that prevented you from caring for your beastie?  The list goes on. 

Long story short, enjoy what you have and know that you are helping all the horses you work with and care for.

[lizzzi]

Yeah, I'm longing to get back into horses now that I'm FIRE--and I could do it--but am worried about unforeseen but quite possible large expenses, even past the normal large expenses of vet, farrier, feed, bedding, board, tack, my own riding clothes if I want to look ritzy, etc.  For instance, illness or injury to horse or myself. I'm well aware that the costs could run up into the thousands, but even more than the financial worry, I don't really have anybody around who could back me up in terms of care for my horse, dog, house, etc. if I got hurt or sick...and I think horses and dogs are true family members, and need to be treated top-notch--huge responsibilities, require whole-hearted financial and personal commitment. So I'm reluctant to get back into having my own horses again--certainly could enjoy being involved with others' horses though. I satisfy my need to live with animals by having a dog--currently asleep on the couch on his back with all four legs up in the air...lol.

[Cpa Cat]

This is a long term commitment and I see on paper, I would be barely making ends meet without including things that happen, or break, or replacing the car someday. Tell me it's not thinking straight and to move on, just volunteer at the rescue and be happy about it.

You don't need us to tell you. You've done the math and you see it in black and white. You cannot afford this. An emergency of any kind would cripple you financially, making horse ownership a financially disastrous decision.

How many years are left on your mortgage? If you didn't have a house mortgage, I suspect that a "horse mortgage" would be more manageable.

[Chanel No5]

Thanks, this feedback is most helpful. I hadn't thought about what if I cannot take care of him for whatever reason, who does? He is at the rescue because the owners had medical expenses that got too high. They couldn't keep him and he is an easy keeper.

I tend to get wound up in an idea and want it to happen almost like magic. Believing that somehow things will all work out. Two of the volunteers I work with did take in horses. Liz has a barn and space at her house to maintain horses. And, she has family support with cash reserves. She and Lee, her friend and adopter as well, have all they can do to manage just two at home. Plus, they are school teachers going back to work soon. I am proud of what they did but seeing the daily reality of what it means.

I need to have down to earth people burst the bubble. I was thinking, I didn't buy a house until I was 50. I finally travelled to Italy last year after saving for two years or so for the trip. So, I see myself taking on challenges and succeeding eventually. My priorities are skewy sometimes.

My riding lessons are going well, it's probably going to happen that I can ride some of the rescue horses. No one is able to do that now. This will help the horses in adoption. The barn manager is happy with my work and after 6 months, I will take over feeding chores on Sunday and be there longer hours with more responsibility. So, my efforts are showing rewards.

I appreciate your thoughts, I love horses and I never thought I'd be back with them. What a thrill it's been :)

[MrsPete]

You're getting good advice here.  Can you go back to volunteering -- without the ownership part?

[former player]

I'm the same age as you, worked at a stables in return for riding when younger, occasionally have thoughts of having a horse.  BUT the responsibility, cost and time commitments are huge, as others have mentioned. 

One further thing which hasn't been mentioned is that riding is dangerous (as or more dangerous than motorcycle riding), and the risks of a serious accident to you are not negligible.  At our age, we do not bounce the way we did when younger.  While you are single with no dependents and a sound financial position, you could manage this better (if you get injured riding a lesson horse or rescue horse) much better than if your finances were already on the edge and you had a horse to care for too.