I worked in a lot of different barns before we bought our property, so there wasn’t a lot about the work that surprised me.
I love having my horses at home and wouldn’t trade it for anything. I love being able to care for them exactly the way I want to (within financial limits) and it also allows me to keep them very frugally.
The biggest plus for me is that my old horses have been able to segue peacefully into retirement. If I had to board, I would only be able to keep one horse, and would be in a tough spot riding wise when that horse had to retire.
The biggest surprise was that I thought I’d ride every day with the horses outside my front door and nothing could be further from the truth. So lesson one is prioritize your riding. Set a schedule and stick to it. Sometimes, chores and maintenance are going to pre-empt your ridning, but start out with specific times carved out for it. There is ALWAYS something to be done - mucking, mowing, fence maintenance, harrowing, haying, grading.
The other surprise that gets many people is that they miss the social interaction of the barn and having friends to ride with and other horse people to chat with. It didn’t bother me as much the first 10 years or so as I had a great friend and horse neighbor. But I am at an age and stage of life where I really don’t like riding alone like I once did; and it’s tough to schedule riding dates.
The second lesson is what I jokingly call McGurk’s law: More acreage per horse = less work and less expense; more horses per acre = more work and more expense. Throw out whatever you’ve been told about horses/acre; find someone in your area who’s horse management you admire, ask them what works for them and why.
For instance: I have 10 acres of usable pasture. Usually, I have 2 horses and a small pony rotating through 3 paddocks. I have added a 4th horse temporarily. This means I can feed hay only 6 months per year, and the hay is mostly free choice round bales. I buy a few square bales to fill hay nets for the trailer and to throw in the stalls when the horses are up.
With rotating paddocks and harrowing the empty paddocks, I only need to pick manure in the paddocks a few months in winter.
I have run in stalls/sheds in two of the paddocks. They are matted and not routinely bedded; I muck once a week into the bucket of the tractor.
So buy the place with the most pasture available you can afford. Maintaining pasture is way cheaper than feeding hay year round or keeping horses in stalls, and horses with good pasture and forage are happier, healthier horses.
Things I wish I had done differently: I wish I had planned for a dry lot and/or a sacrifice area. We’ve made a dry lot using portable corral panels, which is unattractive, but works. If I had a do over, I’d make a sacrifice area around the barn that opened in the larger paddock.
Finally, have a farm/farmette ties you down. Traveling anywhere, even overnight, requires a farm sitter.