Thrifty Horse Keeping

From Blog to Book

2009-11-16T15:22:00Z

As many of you may be aware, the “chapters” that have been offered monthly for download are part of a larger project to put together a cost-saving book for horse owners. There have been a ton of chapter downloads and great suggestions from readers, so it looks like there really will be a physical Thrifty Horsekeeping book coming out early spring 2010!

Feel free to continue downloading excerpts and offering your suggestions and advice while we work on perfecting the chapters. The final chapter of the book will be full of reader suggestions chosen from your comments on the blog pages over the past months. I should be in touch via email with the authors of the comments we decide to publish.

Thanks for making Thrifty Horsekeeping a success, and keep checking back from time to time as I post money-saving tips, coupons, and deals I come across.

Selling and Sharing

2009-11-04T15:51:00Z

A slow economy equates to a buyer’s market for those looking to purchase a horse. For the seller, however, trying to downsize your herd or reduce expenses is going to be tough. The bottom line is that now buyers and sellers are going to have to get a lot more creative and go some less-conventional routes to make ends meet.

Some advice for current horse owners either trying to sell or downsize:

- Post flyers or use free online advertising sites to increase your horse’s exposure at no cost. Make it easy for potential buyers to view your horse by posting photographs and video footage on Web sites such as YouTube.com.

- The most saleable horse is a rideable one - a horse is going to sell a lot faster and for more money if it's a proven riding horse and up-to-date on training, vaccinations, etc. Check out a "How To" video on selling your horse to a good home.

- Consider splitting labor and maintenance costs by offering a part-lease on your horse in exchange for riding privileges.

- Lease your horse out or loan him to a riding school to temporarily reduce the financial burden while still retaining ownership and having your horse in work.

- Consider purchasing or adopting a young horse or weaned foal to experience raising and training a foal rather than adding to the current overpopulation of horses by breeding your own.

How have you made ends meet without giving up your horse altogether? What are some strategies you use to get a horse sold? Although this is the final chapter download (check out the complete Buying and Owning a Horse chapter here) of Thrifty Horsekeeping, I will continue to collect reader suggestions on all topics as I revise the chapters, and as I come across more money-saving deals and advice I will post those here.

Prepurchase Steps

2009-10-29T13:33:00Z

During the horse shopping process, if you think you’ve found “the one,” don’t just stop there. Several steps are still necessary to ensure you’re making a sound investment and getting the most for your money.

For instance, take the horse out on trial to be 100 percent certain the two of you are right for each other. This may require a deposit, but try to reach an agreement with the seller to provide a refund if the match doesn’t work out. Have a pre-purchase exam performed on the horse. These can range from very basic to extensive, but typically the more expensive the horse, the more thorough exam you should ask to have done. It will save you from making a much more expensive mistake! Lay down an offer on the horse as soon as possible, before its value increases as it receives more training and experience. Also learn to negotiate – most sellers don’t set their prices low, expecting some negotiation. Finally, ask yourself how much you have to lose if something were to happen to your soon-to-be new horse. Have your horse insured for an amount reasonable for its use. Most people suggest insuring a horse for at least mortality and major medical coverage.

What are your go-to steps on the path to buying a new horse?

**A few readers have suggested I go into more detail regarding lease and ownership options – which I will make sure to do when I offer the full chapter for download on November 6. Next week will also address options for current horse owners looking for ways to reduce their herd either temporarily or permanently. Download this week’s chapter excerpt here.

Alternatives to Buying a Horse

2009-10-21T14:11:00Z

For many people, outright ownership on a horse is not necessarily the best option. Many can’t afford the caliber of horse they want or need; others may not want to spend the money on a horse whose skill level they anticipate outgrowing; and some only foresee needing a horse for a fixed period of time. Under circumstances such as these, other options for acquiring a horse may be more economical and practical:

- Lease a horse. You (typically) pay a monthly fee and the majority of monthly expenses, but you’re not going to be out of a large investment if the horse were to become injured, and you don’t have to worry about selling the horse when it’s time to move on.

- Lease with option to purchase. A good option for buyers who know they will be able to purchase the animal but need some extra time to gather funds.

- Co-ownership. Two buyers typically split both the purchase price and the maintenance costs on the animal. This often allows a buyer to own a higher quality horse than he or she be able to afford otherwise.

- Working student. If riding is your passion and you have the available time, a working student position could be an invaluable and affordable experience.
<>

Regardless of which horse ownership route you choose to go, draw up a contract and get everything in writing! Sharing, leasing, co-owning, etc. a living, breathing animal can get complicated if the terms aren't clear and the details aren't in writing.

Have you had a good experience leasing or co-owning a horse? I have leased horses in the past for a few months or a season of horse showing. I got the opportunity to ride mounts I would not have otherwise been able to afford - so it definitely paid off for me.

Read more about different alternatives to owning a horse in this week's Thrifty Horsekeeping excerpt.

Horse Shopping

2009-10-14T17:53:00Z

It’s that time of year. Days are shorter, nights are colder, and horses are fuzzier. As winter approaches and horse show season winds down, many people are contemplating the decision to either sell their current horse or shop for a new one. Over the next four weeks I will be offering some thrifty advice on buying, selling, and managing your herd--beginning with the first step: Searching for a horse to buy.

Obviously horses aren’t cheap. If you really want to save some money then don’t buy a horse! The purchase price often ends up being the least expensive part of horse ownership. But chances are if you’re reading this, then you’re a horse lover and owner already. Some things to keep in mind while horse shopping that may help you save money:

If you’re using a professional or a trainer to help in your search, see if he or she would be willing to work for a set fee rather than a commission. This ensures they are working with only your best interest in mind, and that you don’t unintentionally spend more than you set out to.

Make sure the horses you try are up-to-date on vaccinations, vet exams, and training so you won’t end up paying for those services once you buy the horse.

Consider less conventional options such as buying a senior horse, as price drops dramatically after a certain age; buying a pony if you’re petite, since ponies typically cost less to purchase as well as care for; buying a young horse that needs some more time and training, if you have the experience; or adopting a horse from one of countless agencies around the county. TheHorse.com has a listing of free horses to good homes.

How have you discovered some affordable diamonds in the rough? Download the “horse shopping” section of Thrifty Horsekeeping here, and check back next week for horse ownership options such as leases and partnerships.

If you're a first-time horse shopper, check out Tips for First-Time Owners.