This article was written by
Andrea Price-Valenzuela and Emily Baker of Price & Co. Real Estate!
Ralph Emerson once stated that “Riding a horse is not a gentle hobby to be picked up and laid down like a game of solitaire.”
Any of us who have owned a horse can also agree that riding a horse is not a cheap hobby that can be joined and dropped at one’s whimsy. If you are a committed long-time rider looking to save some money, it may be time to consider owning horse property! Though the upfront cost may seem daunting, the day-to-day cost benefits are hard to ignore.
Depending on your level of competition, monthly boarding costs in Colorado can range anywhere from $400-$1200 for a stall. These prices greatly depend on the area you are boarding in, the level of care, the various amenities, etc.. These costs can really take a toll on your financial situation. If you are a lifelong rider, perhaps owning horse property could make sense as an investment and a cost savings benefit. Besides the costs that you would already be paying at your boarding facility like farrier bills and veterinary care, the only major cost after purchasing your horse property is feed and shavings.
Hay prices fluctuate greatly. For this analysis, let’s use the cost of $10/bale which is more indicative of the cost you’ll receive if you purchase in bulk from a local hay supplier. This is the most preferable way to purchase hay for a greater savings, if storage allows. If you bought a large Timothy hay bale in bulk weighing 750 lbs, this would average out to about 12 smaller bales weighing about 60 lbs. The average horse consumes between 20-30 lbs of hay per day so each bale will last the average horse between two to three days. With feeding these smaller bales, you’d be paying between $100-150 per horse. Feeding grain as well will cost you an additional $40-$50 per month as bags of grain costs between $16-$25 per bag. Also, keep in mind that if your horse is let out to graze on pasture, it will require less hay and will therefore cost less.
If your horse will be in a stall with regular turnout, shavings are something that also must be thrown into the equation. Putting shavings in your horse’s stall costs around $6.00 per bag. Horses with regular turnout access usually go through 4-5 large bags per week depending on the season. This ends up costing about $100-$120 per month.
As you can tell, much of what you’re paying for in a boarding facility is the cost of labor. Doing these chores yourself will yield notable savings, especially on multiple horses! The savings is certainly something to take into account especially with the cost of living in Colorado rising steadily. And, when you own your own horse property, you are purchasing an asset that will build equity as well as provide shelter for your equine companions.
There are further benefits to be had aside from the monetary savings that come when you have your four-legged friends in your backyard. Past clients that have purchased horse properties have said that, while the work that is required for owning a horse property is not for the faint of heart, it will bring upon a bond that is unlike anything you can generate with your horse at a boarding facility. It will also allow you to keep a closer eye on your horse’s overall health and well-being.
Although you may be putting in a lot more work yourself and taking this type of project on is overwhelming, the cost benefits of owning horse property are undeniable and certainly worth exploring. If you are interested in looking at horse properties for purchase, we’d love to be your partner in the search!
Emily Baker and Andrea Price-Valenzuela of the Equestrian Living Branch of Price & Co Real Estate would be happy to help you find the horse property of your dreams. Like us on Facebook today to learn more about how you can find the perfect home for yourself and your equine companions!