In this environment, budgeting not just for sale price but factoring in continuing training/ lessons/schooling and not forgetting continuing vet, farrier and ongoing supplements/meds can be sobering. whether you buy or lease.
IMO if you have to stretch to make the purchase price and settle on green needing much regular training or needing ongoing maintenance to get down to that orice? Leasing may make more sense, after all, the saying the purchase price is the cheapest part of horse ownership has always been, justified and more so now.
Maybe leasing something more finished and having a good sized horse fund to cover lessons, a few shows, farrier and vet bills and, worst case, a 20-30% raise in board over the next couple of years or required additional service charges makes more sense.
Be real careful selecting your barn and trainer too, don’t assume they are solvent and will be there forever.
BTW not trying to be negative Nellie here but the boarding situation is the worst Ive seen, including the 70’s recession, gas price explosion and then runaway inflation, the 80’s IRS Hobby Loss rewrite that ran many out of business, tech bubble burst creating instant paupers, 911, real estate collapse, Great Recession and now this. Had horses through all of them,
Board went up, all services went up and never came back down every time. This is worse. Need a horse emergency fund and its not a good time to be “ horse poor” .