If you love horses, you may feel like owning a horse property is for you. Whether you plan to run a stud farm offering stallions with reputable lineage. Or conducting riding lessons. Perhaps even offering partial or full care board.


While caring for horses can be both fun and profitable, you should recognize that owning a horse property has many expenses that go along with it. Taking a personal loan from a lending entity might be the first step toward getting the horse property of your dreams. Before you consider taking that step, though, let’s talk about the costs of such an endeavor.


1. The Property


Undoubtedly, the most substantial cost with an enterprise where you raise or train horses is the property itself. The farm and surrounding land will not come cheap. You might pay for the whole enterprise outright if you have the money, but it’s more likely you’ll approach a credit union or bank about a business loan.


2. Property Taxes


Even if you own the property outright where you’re raising or training the horses, you must pay property taxes. Those can be quite costly.


There’s a little good news, though. Your property taxes should be due at the same time every year, so you can plan for them in advance. They also should not change too much from year to year.


3. Maintenance Costs


You will have the maintenance costs that go along with the property. You must maintain the barn where you’re housing the horses. You should make sure the arenas where they get their exercise remains in good condition as well.


You will probably need to pay a groundskeeping and a maintenance crew to handle that. The groundskeepers can ensure the land is safe for the horses to graze. The maintenance crew will patch holes in the barn roof and repair other damage that naturally occurs.


4. Medication and Food


You must budget for grain and hay for the horses, on top of any medical emergencies. Routine vaccination, farrier appointments, and chiropractics can add up quickly. Plus, do not forget about saddles, bridles, boots, and all the other typical equipment that goes along with horse ownership.


Budgeting Tips


When you start this enterprise, you must keep careful track of your monthly expenditures. They should give you an indication of how much you’ll need every month moving forward.


You can plan for the times of the year when you’ll need to pay large expenses, like property taxes and payments on the property, assuming you took out a loan to finance it. Have the dates marked on the calendar when those payments are due, and don’t be late with them.


You should keep track of when you’ll see a profit from this endeavor. If you make money through riding lessons, keep track of how much you’re making and what time of the month you get the cash. If you’re using your horses as studs, take note of when you get paid for that as well.


Owning a Horse Property is Challenging But Rewarding


Owning and maintaining a horse property has its challenges, but if you love these animals, maybe you can’t picture yourself doing anything else. You must make payments on the land you’re using if you don’t own it outright. You have property taxes due each year. You must also pay for maintenance of the property and hay, medication, and equipment for the horses.


Know when your bills are due each month, quarter, and year, and plan for those. You must also keep track of when you get payments for however you make money off the horses, whether the cash comes from stud fees, riding lessons, or some other business model.


At all times, protect the animals and care for them as best you can. They’re how you make money, but they’re also living creatures that rely on you for their upkeep and happiness.


Leave a Reply