What to Know Before Purchasing Your First Horse

Horses are one of the most powerful expressions of Mother Nature’s magnificence. We enjoy having them as companions, racers or just watching them run with grace and speed. If you also love these animals, you may consider purchasing one. Owning a horse and making it compete can be a wonderful feeling, but it’ll cost you more than playing slots online.

There are do’s and don’ts, whether it’s for racing or just because you want to take care of it and ride it during your field trips. In this article, you’ll know everything you may need to watch out for before spending your hard-earned money on a horse.

Choosing a Race Horse

Prepare Your Budget Thoroughly

Owning a horse costs money. Buying it will require a rather large initial investment. However, this is just the tip of the iceberg. After that, you have to plan for all its needs. This ranges from the most basic needs, which include food, supplements, dentistry and everything needed to keep the horse healthy. You can add veterinary bills, the price of boarding and so on. 

So, you need to ensure you’ll be able to afford all of this in the long run, and additional needs can arise if you plan on making the horse compete.

Moreover, you can buy the horse by yourself to have total control, associate with someone or through a syndicate. The syndicate is less risky, but it removes the satisfaction of having your horse. Tax-wise it’ll affect your profile, so also discuss it with your tax advisor, and insurance is mandatory to protect such a heavy investment.

Work With a Specialist to Choose

There are several ways you can acquire a horse by yourself if you know a lot about horses. You can also hire a bloodstock agent to guide you. These professionals understand the ins and outs of the horse business, and based on what you’re looking for, they can help you find your match. 

Learn About the Racing Industry

Even if you choose to get helped by a professional for your purchase, there are a few things you should know. Each horse breed has specificities which affect its value on the market. The horse you buy shouldn’t be too old, but not too young either. Many people buy them when they’re around a year old, it’s enough to judge their form, but it’s still a gamble.

A Horse for Your Personal Enjoyment

If you’re not looking to make your horse compete, choosing the horse of your dreams also requires planning for expenses. However, the most important thing is to meet your new friend. Make sure they’re healthy, and if you intend to ride them, that the both of you are compatible. The horse can like you or not, and you may need several visits before knowing if you can get along.

In this case, you may not have to pay for everything related to competition, but if you really care about your horse, the budget won’t be that different because you’ll invest in other areas to ensure its well-being.

Buying a Horse, Not an Impulse

Purchasing a horse isn’t something that you just wake up and decide to do it. It takes time, research and planning to ensure you can afford such a purchase in the long run. It’s essential to think about why you want to do it and what type of horse you need.

If, after giving the idea a good amount of reflection, you decide you want a horse, it’s recommended to consult financial advisors and professionals such as bloodstock agents and caretakers to help you in your search for the best animal for your needs.