I do it. I keep my horses at home, on about 3 acres of cleared land (a large dirt lot, a large grass pasture on a hill, and a small dirt sacrifice paddock). For about 5 glorious weeks of the year, I can actually ride in the grass pasture – the remainder of the year it is too muddy or the ground is frozen. To keep them in shape, I do trot sets on our gravel driveway and hack often. They get November-Feb off, because footing is too icy for anything beyond a walk and I do not want to truck in/trailer and hit black ice or snow. If you are in an area where there is snow or you need an indoor to ride in the winter, keep in mind you will have a very hard time getting any meaningful work done if you have no access to an indoor.
Having done this for the better part of 20 years, I’d change a lot if I could. While you might save a little keeping your horse at home, that is not the true reason I do it. I do it because I am in full control of my horse’s care and schedule – they are happier here than they’ve been at any boarding barn, with a whole herd of horses to live with 24/7, with unfettered 24/7 turnout access, and a roundbale. This is just impossible to replicate in the NE without sacrificing quality/knowledgable care, or something else. And those things are invaluable and frankly, inflexible for me - I do not want to board at a barn where my horse is stalled 12-16hrs a day, where they are not turned out with other horses, and where they live in dirt lots with no free choice hay.
Yes, your riding will plateau if you don’t have a ring to regularly work in. Yes, your riding will plateau if you are not in a consistent program. I have brought along several horses independent of my trainer’s program now – and while I’m happy with their progress, I know they would progress much faster if they were in a consistent program where a ring was readily available to me. I can work with the grass ring I have – but believe me, it is so hard to have to constantly be fighting against footing or slope while teaching a horse something new, like rebalancing at the canter, to shoulder ins – having to always have to set yourself up before going down the hill is both a blessing and a curse - it is just so much easier to school the flat in a groomed ring.
To offset this, I do truck out from May to late October, once to four times a week. Keep in mind this is not much cheaper than boarding the horse, at least here – I have to pay yearly membership fees to several places ($175-275/yr) and at others, pay truck in fees ($10-50 per visit) on top of lessons, if I have them. Then there is the maintenance of the truck and trailer, diesel, etc. So it is a trade-off, and I wouldn’t consider it an economical one that “saves me money”.
A sad reality I’ve learned is that no matter your rapport with the barn or trainer, if you are not a boarding client you will always come second. I have had many lessons rescheduled or cancelled because of it. Those boarding clients are much more meaningful to your instructor at the end of the day than Suzie who trucks in and keeps her horses independently. It can be hard not to take this personally but you have to remember it is a business.
You may find you lose that sense of “barn community/family” too. If this is valuable to you, I would not keep your horse at home if you are happy with your barn otherwise.
Hauling out after the 8-5 is such a PITA. I try not to do it, between traffic, chores, and getting home after dark (and having to do the chores in the dark!). Most days I’ll haul out on my short day at work (Fridays) and the weekend - but this eats a lot of your free time that could be devoted to other things, like home/yard improvements, socializing, or just plain relaxing… You can get burned out from this quite easily.
If you were to seriously go the route of bringing him home, take that money that you might save and make a ring. It is the only thing I would change about my life; I love having my horses at home, even though they’re a lot of work and some days I resent having to go out when it’s 5F and blizzarding.