Hello,
I have quite the dilemma. First, a bit of background: I am 18, in college (read: poor), and love to jump. I’ve been riding for 8 years, jumped up to 3’6". I’ve never had my own horse.
I found a horse who is basically everything I want in a horse: he is a good size, great temperament, huge jump, 8 years old, and buckskin to boot. I got a chance to ride him and he was a dream.
Problem? He’s $20,000.
I have a job right now at my college tutoring and will be working at a summer camp over the summer. The pay at the camp is really good. I would have to ask my parents for help to buy him outright, but hopefully not boarding (there’s a barn by my college with very reasonable rates for partial care. I don’t mind mucking stalls) I have a farrier friend who will give me a discount for services.
The question? Is it worth it? I looked around and for an already started jumper prospect, $20,000 or up seems to be the average figure. This guy is everything I want in a horse.
I need advice please!
Um, buy what you can afford. Do you know how many people can afford to buy the horse that is everything they want? Almost none. Welcome to the club.
Unless you have rich parents, how is it even a consideration?
[QUOTE=gravitycommand;7867230]
Hello,
I have quite the dilemma. First, a bit of background: I am 18, in college (read: poor), and love to jump. I’ve been riding for 8 years, jumped up to 3’6". I’ve never had my own horse.
I found a horse who is basically everything I want in a horse: he is a good size, great temperament, huge jump, 8 years old, and buckskin to boot. I got a chance to ride him and he was a dream.
Problem? He’s $20,000.
I have a job right now at my college tutoring and will be working at a summer camp over the summer. The pay at the camp is really good. I would have to ask my parents for help to buy him outright, but hopefully not boarding (there’s a barn by my college with very reasonable rates for partial care. I don’t mind mucking stalls) I have a farrier friend who will give me a discount for services.
The question? Is it worth it? I looked around and for an already started jumper prospect, $20,000 or up seems to be the average figure. This guy is everything I want in a horse.
I need advice please![/QUOTE]
No.
Wait until you are out of college.
I don’t know if your parents are paying for college or you are getting loans or what, but the last thing you need is another $20k on top of that. (And, just my honest opinion, you’re getting to an age where it’s no longer really appropriate to ask the parents for a pony anymore…;))
Save what would be your monthly board money and other expenses in a separate account. In 4 years, when you get out, even figuring only $300/mo, you’ll have $15k to buy a nice horse. Or use for a sizeable downpayment on a new car, or for moving expenses for your new job, or for a downpayment (or partial) on a house.
In the meantime, find some good leases.
Horses will always be there. I say this as someone who DID buy the horse. But now I’m two years out of college and farther behind “in life” than most of my peers, because I spent $650/mo on board instead of saving for house/wedding/nice car/etc. And I had to put my mare down at six after buying her at three, so it was all for nothing anyway. (Well, that’s a grim take, but you know what I mean.)
I’m also in the booming tech industry and it STILL took me and most of my classmates around a year to find actual paying, salaried positions out of school. God help you if you graduate and can’t find a job for over a year, and have to support not only yourself but a horse on minimum wage…Or, depending on your future industry, an (unpaid) internship may be expected in your junior or senior year, leaving you no time to actually earn money to pay for said horse.
You need to sit down & write up an itemized budget, eg, where are lessons in your plan, often budget barns do not have many jumps or have inadequate footing (translation: $$$ in vet fees), I assume horse would be insured, but you still have routine maintenance & call fees, farrier may offer a discount but any specialty shoeing will still cost $$ … whatever you calculate for annual budget, actual costs can easily be double.
WAIT. You cannot afford it now. Use your parents’ generosity for helping with a downpayment on a house, or paying college debt. And if you are a great rider, put your energy into networking with trainers near your college, to find catch rides.
There will be many other horses out there who will be everything you want in a horse. A break from serious riding does not erase your skills, and it is positively absolutely stupid to buy a horse you can’t afford on your own, without parental help and a cut rate from farriers (who may get injured or who decide they don’t like working on Mr. 20k Horse)…
Just take this time to study and learn, commit yourself to staying in strong riding shape–run, bike. swim, crossfit-- and catch ride on anything with 4 legs.
It’s not even the $20K. It’s the upkeep cost that is the real killer.
There are some neat horses out there and the best way to get to ride them is to take more lessons, look for exercise rider jobs and grab experience wherever you can. Finishing college has to be a priority. It makes a huge difference on what the average person can earn in her life time.
If your parents will buy you a 20k horse, why not ask them to pay for board or half board ? I don’t know your parents finances, (my parents were more like the $200 horse range), but honestly, if they are well to do, they may be okay with it. I know that is contrary to most advice here but if is a reality that they can afford it and would want to do it, so be it. But if after buying him you will be on your own with upkeep, then hold off till later. There are always good horses around and once you own one, it is constant bills and pressure to pay the bills, more than you think and all it takes is one layup or series of vet bills to change everything…that may not happen but one has to budget for it if it does. Best of luck and enjoy your riding!
I was in a similar position in college (and after college. and grad school) and I’m glad I waited. I’ve always had an opportunity to take lessons, lease, or just catch ride here and there. It helped me focus on my career, goals, and aspirations outside of horses. I had some wonderful experiences, including a two year study abroad program that I could not have afforded if I bought a horse.
That depends on your standard of living.
If you can even consider buying an #20,000, maybe you have that kind of money to spend on a horse and then, why not?
If you have to struggle to make ends meet, well, buying a rather expensive horse seems way out of line for how you need to spend your money, if you think about it logically.
As someone said, there are many, many horses out there that will come along all thru your life, that you would like to have and some you may indeed buy, some, like this one, may not have come along when the time was right.
Only you know what kind of money you have and if he is really worth that to you.
What do your parents think?
Unless parents are very wealthy and want to provide you with this opportunity, you can’t afford it.
Damn, I’d like to have a $20,000 horse! Hubby and I are both well employed in the defense industry and own our own farm and I still can’t justify spending that on a horse that could lame itself in the blink of an eye.
I think you could find some great lease or catch riding opportunities in the meantime, or if you really want to own a horse and have the skills to bring one along then you might be able to develop an athletic, green prospect. Also, I’m guessing you just started college by your age. 300 and 400 level courses take much more time and commitment and you might find that you can’t find as much time for working and riding in your junior and senior year.
Find a great barn.
Take lessons, let the trainers see that you can ride.
Then:
Find a PART LEASE on a great horse. Once the trainers know you, they can assist. It is possible. We have four cool horses at our barn who are half leased out because the owners either don’t have time to ride them six days a week, or funds to pay for training. One is a Prix St. Georges horse, the rest are hunters. Nice horses.
If you own a horse and it becomes irreversibly lame (AFTER running up a $10.000.00 bill in vets and board fees while it’s unridable…and that would take only a few months!) you are in a seriously bad situation. You’ve lost your purchase money, and if the horse needs to be retired, what do you do then? Put it down? What if it’s not in that much pain? Can you afford to permanently retire a horse?
Save money and get a horse after college.
In a word;
No.
I’m a first year university student. Depending on your program, you will have less and less time to ride and train as the next couple years go on.
I don’t even have the time for a full lease on a horse. I’m currently looking for a new horse to half-lease, because my previous horse, while he was beyond talented and could jump the moon, needed more work than I had time for.
Chances are, you will put $20k into the purchase of this horse (or your parents), and then slowly have less and less time to work him - and then you’ll be out of school and struggling to find a job and start your ‘real life’ and now you have this $20k horse that you can’t sell for what you paid for him, because he’s on the downswing for most horses and he’s not been competing and working as actively because you have been so BUSY.
It sucks - I’ve been riding for 9 years, half leasing for almost 5. Its drives me insane and sometimes I wonder if its even worth it. But its what i can realistically afford and put my time into at this point in my life. I struggle every time I drive by the local sale barn, knowing at any given time there are probably 4 or 5 horses I could afford and have a TON OF FUN owning. But school and setting myself up for life needs to come first.
Also, do you really know how your parents feel about you even owning a horse, let alone them paying for him? My parents are paying for my tuition, mostly, we’ve also discussed that if I want to own a horse, I’m also responsible and adult enough to pay my own tuition. Asking them (seriously, that is, I jokingly ask for a pony on a weekly basis) to pay for a horse for me would not go over well, even if I was planning on covering the ‘upkeep’.
And as others have said, he may be everything you want in a horse, but;
- he’s everything you want right now. If you’re 18, I’m guessing you’re also in first year - I started this school year with a hothead sporthorse that could jump the moon and could have killed the jumper ring if I had the time to get him there. And I l.o.v.e.d. riding him. But I have less time to ride now and he’s too much horse - I’m too stressed and need to relax at the barn, not be trying to hold Mr Ants-in-Pants together. Your wants may change.
2)There are dozens of horses that will fit that bill in the next 5 or 6 years. Dozens.
A horse is a want and a privilege, not a need or a right. Wait until you have your needs (education, job, independence, transportation) covered on your own, before you start on major wants like horse ownership.
[and I understand how hard it is to walk away from them once you start picturing them as your own and you know that its technically possible, if not a good idea. Stock horse geldings are my weakness and first love, and in the past year I have had 3 paints, a QH and a APPALOOSA (aka my favourite breed) offered to me for free or very close to it. Great horses, broke, just need a new home and the owners knew me (or knew of me) and how I deal with horses, and thought I would be a good owner for their boys. I’ve had to say no everytime - and it sucks!!!]
Definitely no.
Good lord, the purchase of the horse is the CHEAP part. Unless your parents are willing to bankroll the whole endeavor, now is just not the time.
You have what we call Champagne taste on a beer budget. And as others have pointed out - no, it’s not a good idea. There will always be horses to buy. Go get your education, secure yourself a career, and then think about taking on 4-legged dependents.
The purchase is usually the cheap part, but $20k will keep an average horse for a fairly long time…
I’m voting no. Even if your parents can afford to bankroll everything, if you have any kind of falling out with them you are responsible for the horse and you most likely cannot afford proper upkeep.
I vote for getting your horse fix through lessons and maybe a lease. There will always be horses out there to buy when you are out of school. 
Don’t dismiss the time, energy and money it will take to own one horse, that will keep you tied up so you really won’t be having as many chances to use that time, energy and money in advancing your own personal riding skills and goals.
It takes riding as many horses as you can, as often as you can, to really become the better rider.
One horse will teach you much, but will also take so much out of you in, again time, energy and money, that is not even close to what you can do with that, once more, time, energy and money you are spending on that one horse.
To own and train and compete with one horse only is what those do that are not any more maximizing their lives to become that better rider, which it is something you may ought to consider at 18.
Now, if you have a whole stable full of nice horses, then one more will still be an asset to own.
If you don’t, create that same scenario by using your money for lessons and leases, better spent there than the large resources owning that one horse will demand of you.
You are in college. Do not add the stress of maintaining a horse. Good horses are hard to find. Good $20,000, horses, not so hard.
Can you afford to lesson with a good trainer & show? It’s no fun having a super talented horse in the barn if you still can’t afford to reach your goals.
I don’t think any of us on here know your relationship with your parents. Since you describe yourself as poor, I assume that they’re not giving you a ton of money for living expenses. Which would lead me to further assume they may not want to be the ones ultimately responsible for the horse. Mine emphasize personal responsibility & wouldn’t support me purchasing a horse in such a precarious financial situation. Of course they don’t have a say unless I ask them for money 
As a college grad who is now trying to make her way in the “real world”, no. Even if you can afford it now while in school, you probably won’t in 4 years when you are done…most likely jobless and with newly acquired student loans. If you really must have your own horse, I would suggest looking for a lease so you are not trying to sell him/her in 4 years when you can no longer afford a horse.
If I was not fortunate enough to have a small family farm where my horse stays, I would definitely not be able to afford him. It would be like doubling my rent just for board.
