LOL that wouldn’t buy my garage, let alone the lot to put the garage on.
Keeping horses at home is cheaper than boarding because you don’t pay yourself. If you charged an hourly rate for your time, it probably wouldn’t really be cheaper.
Then of course add in property, buildings, pasture, fencing, taxes, insurance, equipment…I am certain I could have boarded my horses for less if I didn’t buy a farm at all.
So…really not a great comparison. You either want to live on a farm, or you don’t. But you don’t buy a farm and keep horses at home because it’s cheaper in the long run than living elsewhere and boarding.
To the OP - I wouldn’t necessarily abandon this lease. I’d consider a lease though, and not a lease to own - not at least until you have had time to ride and work with the horse. If you found out, for example, that the horse was currently only getting 18lbs of hay…the solution might be very simple. For a TB, that’s just not enough.