Originally Posted by Little Jane
Matt sounds like a great opportunity. $1500 isn't bad for an already-trained horse, and it's awesome that you already know him, since you had leased him before.
Make sure your parents are willing to help you out if the costs of horse ownership go a little over your head. Sometimes things come up that you didn't plan on that can make extra $$$, and parents don't always understand. My parents bought a filly for me last summer, and said they'd be willing to pay for board at the barn I love until I could (it was about $200 more per month than at other places, but it's close and has an awesome trainer), but hay prices shot up due to a drought, and now they're paying an extra $100 on top of the $200.
My point is that now my parents are talking about moving my filly to another barn, because of the price increase. So, be prepared. Things come up, like hay prices or an injury. If Matt strains a ligament and needs to be put on stall rest and wrapped and iced for a year, will you still be able to give your time and money to his medical needs while also paying for board on a horse you can't ride? I say this not to be a downer, but because someone at my barn was off her horse for more than a year because of an injury, and he's a young gelding.
I'm not trying to discourage you, believe me! Having a horse of my own is so much better than riding other people's horses. But be prepared for unexpected costs, and make sure your parents are behind you 100%.
This. My friend had her 4yo mare for about 2 months before she went lame. They found a soft tissue injury in her hoof. $7k later, she's laid up for a year. Thank god she's insured!!!
When I got my horse, I was making 1/3rd more than I am now, and dealing with being unemployed with a horse and little to no savings because things happen sucks. I'm only now getting out of that! Not saying that my horse isn't worth it, but it's definitely a possibility. In any case, best of luck! I tried to buy a horse that I leased at first but it didn't work out. Hope it does for you!