The Reality of Owning a Horse

So you love horse racing and have heard owning a horse can net you some huge wins? Horse racing is a popular sport across the country. There are many ways to invest in a horse to see some gains, from owning a horse outright and training it to become the next superstar to becoming part of a syndicate or simply owning a horse and learning to ride because you fell in love with the animal watching them compete. You have plenty of options.

Depending on your choice, investing in a horse might not just involve a one-off upfront cost while you sit back and collect your winnings (typically, for syndicates, you can expect to pay around 5 percent of the horse value to have a stake, and this price will depend on various factors).

But if you want to try your hand at owning your very own horse, this is what you can expect.

You Need Space

Most states dictate that you cannot keep a horse on your property unless you have at least 2-4 acres of land per horse. Not everyone can find this, especially those living in places like Upstate New York. Or in busy metropolitan areas. So you will need to find a home for your horse, which means a field or stables they can live in. You can either purchase one of these options or use the services of established providers with the exact requirements to care for horses properly.

You Need Money

Horse ownership isn’t cheap, and you will likely need an excess of free cash per month, even if you’re not training a racehorse. At a minimum, you need stabling costs, veterinary costs, dental care money, insurance, feed and accessories such as blankets, horse therapy products, straw and hay too. It isn’t cheap, and these costs can soon add up even if you find a good deal. This is before any emergency costs crop up, such as illnesses or accidents.

You Need Time

You need time to dedicate to owning and caring for a horse. Even if you’re not riding them, you will need to visit them and look after them (especially if you aren’t paying for this service from your stables). Horses are social animals, meaning they need a lot of attention from either humans or other horses. A solitary lifestyle isn’t appropriate, and if you won’t have the time to keep your horse company, or you can’t commit to stabling with other horses to devote a considerable chunk of time to care for their social and emotional well-being, this might not be the right investment for you.

It’s a Lifestyle, Not a Hobby

Lastly, owning a horse is a lifestyle, not a hobby. Much, like dog owners, become “dog people” quickly, and their pet becomes their whole identity; your horse will consume most of your time. Horse owners will appreciate and not begrudge the amount of care and time they need to dedicate to caring for a horse. It will become a massive part of your life, such as having kids or a pet at home or even a sport you play or are invested in. If you’re ready to become someone who dedicates every spare second of their life to looking after their horse, then you are well placed to move forward with owning your own horse.

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