Interested in what you think of my situation

[mfaley]

My 2 cents is that QRTRHRS is correct.

Most people really underestimate the costs. We sat down and figured out what it really costs us to keep a horse and it came out to a bit over $400/ month. Most folks we know think its closer to $300 until you menion all the small things.

Additionally, you have to factor in the cost of not being really knowledgable about horses.

As mentioned before I would avoid it until you know what the committment looks like.

Regards,
Mark

[UncleBuck]

Not counting the initial costs for barn, stalls,fencing (bought a old farm , most of infastructure was here already) , my costs per month are much closer to 150.00 per month per horse. This is for my own horses. I do have some boarders and the cost is lower (closer to 100) because they're Vet and Farrier Costs are added to their monthly bill
I agree with "ORTRHRS" 100% , GET EXPERIENCE FIRST, work with your neighbors to get the experience and as a added bonus you'll become "good neighbors", something we all need when living the rural life.
Good luck with whatever you decide

[MarineJAG]

You must have a love for horses prior to jumping in. My wife and I have been raising Arabians for the past eight years... After I get home from my paying job... its out to the barn... some days are easy... some not (especially when its as cold as its been). Something ALWAYS needs fixed on the barn... just when the vet is paid... one of the horses will do something stupid and you have to call the emergency vet yet again. If I didn't love it... I would hate it.

[canoetrpr]

remove the stalls and pave or concrete the inside of the barn. Then rent out the space for storing boats or snowmobiles to the city dwellers you left behind.

Now that I won't do. The stalls contribute to the overall value of my property. Besides, at some point in the future, if we can afford it, we do plan to get horses of our own.

[mfaley]

Buck,
From the business perspective we factored in everything which is how we get to the larger number. We have the horses for fun so its easy to discount those numbers but if one, as you mention, calculates all the other factors the price per month jumps.

Regards,
Mark

[Pat]

Sure fire way top make a small fortune in the small horse operation!

Start with a large fortune!

[img]/forums/images/icons/smile.gif[/img] [img]/forums/images/icons/smile.gif[/img] Pat [img]/forums/images/icons/smile.gif[/img] [img]/forums/images/icons/smile.gif[/img]

[mikim]

I've got a coupla years yet before I'm living on my 20 ac ... but I've been thinking of miniature beef cattle ... do a search on the internet.

[twstanley]

I heard a joke a while back ( I may have heard it here ) that sort of applies:

An old farmer won the lottery. When asked what he was going to do with all the money he won, he said "I'm going to buy back my old farm and just farm till it's all gone."

Haha.

I totally agree with Mark on the price. Quadruple and ten times that amount if you're showing the horse. Then add in the land to keep the horse, property taxes, trucks, trailers, etc. etc. and the cost would make you choke. But the joy of seeing your daughter win a world championship? PRICELESS and worth every single penny. [img]/forums/images/icons/cool.gif[/img]

[canoetrpr]

Just for the heck of it so that I can sell the boarding idea as not being such a good one to my wife (she's still on the idea :-), here's her argument:

We've already got a great horse property: 5 stalls, hay storage, loafing barn, great fencing, riding ring etc. All in great shape. These are all things we want to maintain as they add to the value of our property.

Boarding around our area is $250 per month + vet and farrier costs + hay and grain as required.

Her argument is that she can't see how she wouldn't be able to net $100 per horse out of the $250 the boarder pays. Sure that's less than something else she could be doing but she'd enjoy it more in her opinion. Her worst case estimate is that she makes 0 per horse but the property stays maintained and we get to save on property tax rates which are lower for the farm. She's had a bit of experience at a kid working at her grandfather's horse operation. She'd obviously acquire more with the help of neighbours who are experienced with horses and have offered to help her gain knowledge and get started.

Also bear in mind that the $7k annual that is required to classify as a farm here is gross not net. You don't have to have a profit. Property tax savings worked out to about $1600 and she also points out that we will save $1800 sales taxes next year for the tractor we just made a deal on.

Her net argument is that: We're already paying for the land and all of the infrastructure in our mortgage. We are already paying for the tractor. The only inputs from her would be her time, which she would dole out for free to be around horses anyway, and maintenance of the property - some of which we would be doing anyway.

Gimme something to go back to the debating table with :-) because I'm getting my butt kicked with that $400 number.