Is £5000 too low budget for a horse in the current market?

[Meadow21]

Hi I’m looking for my first horse, I loaned my old one off family friends for years so have never actually had to horse shop!
I have managed to save a £5000 budget (with £1500 extra on top for tack, vettings, rugs etc) which I thought would be a reasonable budget. I am however finding it impossible to find a horse. All I’m looking for is something around 16hh for low level competition/hacking, and between 5-10. I don’t mind green/sharp or TB or chunky cob, just want something sweet.
So far I’ve had people suddenly claim the horse is now an extra £500 or £1000 after they agreed the £5000 price. I’ve had so many people just disappear when I mention a 5* vetting. People agree to a viewing or vetting and then sell unseen underneath me so I loose the horse. I’ve even paid a horse agent who simply took my money and found me a handful of horses in a month, all completely unsuitable (eg too small, wouldn’t pass a vetting stated on the adds)
Are these issues just the current horse market, or is this because my budget is way too low and I am missing out on the decent types, as I am aware horse prices have gone up.
I am just so frustrated, I feel like people buying unseen have just dominated the market. I am so stuck with what to do!

 

[[59668]]

Sadly I think at the moment your budget is too low for what you are looking for. For 5k at the moment I think you might find something very green, just broken or with a few issues and quirks, or something out of polo or racing, but not much else.

 

[coblets]

Prices are starting to drop for some types so you should be able to find something. Especially a TB - they're usually cheaper than their fellows

 

[mariew]

Yup, I have put any thoughts on owning a horse on a shelf for the time being. I read something on here someone paid close to that for an ex racer with issues. A just broken youngster looks like around the 7k mark or more. However I have seen the odd price reduction so maybe worth keeping an eye out in the winter when people have to start going into offices again.

 

[Annagain]

Prices are crazy at the moment but they do seem to be stabilising a little bit as winter approaches. You will still be looking for some sort of compromise though. I do know of one (17hh 6yr old ID type) who is on the market for £5.5k but is partially blind in one eye (which doesn't affect him at all) and has a bit of a headshaking issue. It's not terrible, is vastly improved with a nose net (he's very amenable and rideable just won't win a dressage test) and ok in winter but he'd probably be £9k without this issue, just to give you an idea of the sort of compromise you'd be making.

 

[teddy_]

Deleted

 

[[59668]]

Not everyone's cup of tea but last month I purchased a quality 3YO Thoroughbred from Newmarket. Pic attached.

I paid £2,500 for this horse and bought him blind as I could instantly see his quality. He has a few niggles to iron out such a shin splints but he's a cracking lad. So yes, if you're flexible on type, £5,000 is ample budget.

View attachment 80003

Lovely!!! But OP is looking for a first horse, which. 3yo OTTB is unlikely to be!

 

[teddy_]

Lovely!!! But OP is looking for a first horse, which. 3yo OTTB is unlikely to be!

Oh I see, me being hasty!

 

[Caol Ila]

I spent about 4K on a 10-year old greenbroke, ex-feral Highland. He hacks out well in company, but hacking alone is a work in progress. He has a lot of anxiety about being ridden in an arena, so I've just been chipping away at that slowly, doing groundwork in the school.

Anything of that age over 13hh that hacked out and could walk, trot, and canter in the school without too many weird quirks seemed to be costing well over 7k.

 

[asmp]

https://www.nfed.co.uk/cgi-bin/clas...lay_db_button=on&db_id=169255&query=retrieval

Another compromise though (read ad carefully)

 

[Birker2020]

Sadly I think at the moment your budget is too low for what you are looking for. For 5k at the moment I think you might find something very green, just broken or with a few issues and quirks, or something out of polo or racing, but not much else.

I agree. Straight away when I see the type of horse I'm looking for that is advertised for between 6K - 8.5K I know there is something wrong with it. Sure enough its got issues at the mounting block, or it has sweet itch, cribs, cold backed, has sarcoids, the list is depressing and endless. Yes its worth the punt if you are desperate but personally I wouldn't go there.

So I've jbit the bullet after a discussion on this very forum about this very topic! And I increased my budget. But I'm lucky I can do this and realise not everyone can.

You could always take out a 0% credit card and you will probably (depending on your credit history and I didn't have one at all) be offered £4-5K straight away. I used mine for the beginning of Covid paying off some vets bills that I hadn't a hope of paying otherwise as I'd lost my job and was on poor furlough pay. I've just secured by balance transfer a further 24 months with another lender. As long as you make the minimum repayments which in my case based on £4,700 lent and only using £2K were £25 per month. 3/4 of the way into my term I was offered more credit but declined as I don't want to go down that route.

If you can pay that kind of amount off per month ON TIME then you have a long period to repay it back and if you don't repay it in the time specified have the option for a small fee (mine was £36) move to another 0% lender, called a balance transfer. I have 6 months to use as much credit as I want 0% then the rate increases, which is fine as I have other savings so won't be tempted.

You need to be aware of the terms of the loan, like some of them say you have to use the 0% credit within so many weeks or months so get one with as much extension as you can as you might not find a horse straight away.

Ask your friends. I'd never had a credit card in my life, spoke with my friends when I first lost my job in April last year at the age of 50 and said I wondered if it was better to use my savings or get a loan and they told me about the 0% credit cards which they'd been using forever.

Helped me out of a hole and I intend to increase my monthly minimum payments to pay it off quicker this time around.

 

[nutjob]

If it’s any consolation, you are not alone. I have been looking for another horse for about a year now. I have double your budget but am fussy about veterinary issues and a 5 stage is a must. Plenty horses in this price area are lame or have other quite serious issues and I have also had your experience that many are purchased very quickly, unseen and unvetted, which I am not prepared to do. I lost money putting a deposit down on one with a dodgy dealer to secure the first viewing on a horse arriving from Ireland, but he sold the horse to someone else anyway and kept my money. It’s just a total nightmare atm. I have seen plenty TB’s within your budget otherwise it is definitely limiting the choice right now. Personally, I think and hope things will calm down soon and it’s better to keep looking rather than end up with something unsuitable for whatever reason. If you can expand your search criteria it does help.

 

[Birker2020]

If it’s any consolation, you are not alone. I have been looking for another horse for about a year now. I have double your budget but am fussy about veterinary issues and a 5 stage is a must. Plenty horses in this price area are lame or have other quite serious issues and I have also had your experience that many are purchased very quickly, unseen and unvetted, which I am not prepared to do. I lost money putting a deposit down on one with a dodgy dealer to secure the first viewing on a horse arriving from Ireland, but he sold the horse to someone else anyway and kept my money. It’s just a total nightmare atm. I have seen plenty TB’s within your budget otherwise it is definitely limiting the choice right now. Personally, I think and hope things will calm down soon and it’s better to keep looking rather than end up with something unsuitable for whatever reason. If you can expand your search criteria it does help.

I'm fussy as I am very particular about height, sex, type, breed, even down to colour. After nearly 4 months of searching, attending two viewings, and nearly two more which I was let down about for various reasons, I'm hoping at last I've found my next horse as I have a viewing tomorrow and unless its a complete sh*t to ride or it fails the vetting I think this time next week I will be a Mummy again, but there's nothing like tempting fate so not saying anymore

Good luck, don't give up, your horse is out there. But think about the 0% credit card and ask around as I see that as your only option at the moment. And it would be a lot cheaper in the long run than taking a punt on a horse with an issue that is being sold cheaply and then finding yourself saddled with loads of issues. x

 

[Pearlsasinger]

Have a careful look on Dragon Driving, there is usally something that sounds suitable within your budget. You do need to read the Dodgy Dealers page, though as well and definitelyask to have a vetting.

 

[Cowpony]

Personally I think we'll see a lot of horses come up for sale when we're into winter and the people who moved out of cities during lockdown suddenly realise that they have to go out in the wet and the cold to sort the horse, and they can't ride except at weekends because it's dark by the time they finish work. So I'd be inclined to be patient. And if my prediction doesn't come true, at least you will have saved the costs of having a horse over winter and hopefully increased your budget too. And think of all those lie-ins......

 

[Regandal]

Have a look at the British and Irish thoroughbred agency. They coordinate the selling of tb’s coming out of racing/training. Obviously a lot are youngsters, but the odd older, saner one crops up regularly.
TBAITA.

 

[scats]

I’ve already made my mind up that I’m outpriced now. If anything happens to Millie, P will go into retirement livery or a track livery and that’s me done with horses for the foreseeable. Unless something came up or prices really dropped.
I genuinely can’t afford those prices, plus I’m trying to save for a house so it would be foolish to.
I had contemplated putting P in foal next year, but having battled with EMS with her this summer, I don’t think that’s very wise now.

Friend of a friend has been looking for months. Distinctly average horses up for 12k and more. Mine have all been relative bargain basement types. Millie is my most expensive at £2.5k. Generally I pay under £1k and attempt to turn them into something decent or at least useful.

If I have to leave the horse world, I will embrace a different life that’s for sure!

 

[bonnysmum]

I spent about 4K on a 10-year old greenbroke, ex-feral Highland. He hacks out well in company, but hacking alone is a work in progress. He has a lot of anxiety about being ridden in an arena, so I've just been chipping away at that slowly, doing groundwork in the school.

Anything of that age over 13hh that hacked out and could walk, trot, and canter in the school without too many weird quirks seemed to be costing well over 7k.

Wow, sounds like I got a bargain at £4500! Must remember that though all the headaches I'm having at the moment.

 

[Melody Grey]

Depending on your level of experience, what about a younger project you could bring on and sell in a year or so to raise some more budget?
Admittedly that’s a gamble too.

 

[splashgirl45]

as i love window shopping i have looked on horsequest and found a few who sound ok.
261954 8 years 16.2 £4250 i really like the sound of this one
262801 9 years 16h £3500
261755 10 years 16.1 £4750
263083 11years 16.2 £4995

i would think that if you looked at something that has been there and done it maybe slightly higher age it might be worth looking..

 

[Andrew657]

As someone who would like to look for something similar - I've decided I can't start looking until I've saved up £8K plus extras (originally thought £5K would up appropriate but realised that at that will be getting issues - they may not be deal breakers but are likely to mean extra costs to manage/overcome)

 

[teddy_]

OP, if you're open to a Thoroughbred, you will find one suitable within your budget.

There is a horrible misconception that all Thoroughbreds are 'hot' and 'buzzy' but this is simply not true. Take a look at Equine Nox on Facebook, they regularly have lovely OTTB's, some most definitely suitable for a first horse. All of their horses are open to the vet too. I am also yet to see one of theirs sell for > £5,000 too!

I'm not going to claim to be some equine oracle but, I have owned a fair few horses and the Thoroughbreds that I have had, have been a damn site more straight forward than either of my warmbloods or my ISH.

I too was looking for months for a new horse when one of my warmbloods got diagnosed with navicular, so I sympathise with your frustration. I am not going to lie, I did end up buying blind - a Thoroughbred and he's cracking .

 

[Peglo]

I bought mine unseen (but vetted) from Italy ? I decided I wanted another haffie and fell in love with her. Still don’t know why. I payed £4000 for my 6yr old but by the time I got her home, taxed to get into uk etc it was about £6600.
So far she has been great and feel very lucky. But I think ponies are going for a bit less than a 16hh.

 

[paddy555]

https://www.nfed.co.uk/cgi-bin/clas...lay_db_button=on&db_id=169255&query=retrieval

Another compromise though (read ad carefully)

even knocking a couple of grand off that could be a big compromise. Too much of a risk.

 

[Goldenstar]

You just need to save and up the budget lots of people are looking for exactly the same as you .
I also think your tack budget is a little optimistic.

 

[Antw23uk]

It doesnt help OP to get a horse but should she be thinking of upping her budget? Sure if everyone keeps spending the money on these 5-6k horses that are up for 10k+ then the market will simply keep going! If people stop buying them at these high prices then the market will fall and 6k horses will be worth 6k again!

 

[TPO]

People are just getting greedy. Reading the adverts in the past few weeks of H&H and its ridiculous. 12/13yrs old thathave done NOTHING and thr asking prices are circa 10k

I know it's frustrating OP but sit tight.

Spread the word as sensibly priced horses are going through the grapevine.

If an ex racer is an option perhaps contact trainers to add your name to their list for rehoming.

I appreciate that (good) breeders should be compensated and some attributes can be close to priceless but it is a joke right now reading for sale adverts

 

[Birker2020]

It doesnt help OP to get a horse but should she be thinking of upping her budget? Sure if everyone keeps spending the money on these 5-6k horses that are up for 10k+ then the market will simply keep going! If people stop buying them at these high prices then the market will fall and 6k horses will be worth 6k again!

You can't assume that though, that's the problem. With the current trend on the amount of people dealing and making a huge fat profit, that could take months or even years. And some people don't have time to wait if they are on a livery yard having their stable held for them.

I'm having my stable held for me and the YO has kindly elected to put her horse in there so I don't have to pay for it although I was happy to if it meant I could have the same stable. She has been nothing short of amazing towards me and I am eternally grateful and will never again be part of the inevitable yard discussions or yard battles, I will always remember her kindness. But some people don't have that luxury. So I personally don't think that would work although I'm usually all for strength in numbers.

 

[Goldenstar]

It doesnt help OP to get a horse but should she be thinking of upping her budget? Sure if everyone keeps spending the money on these 5-6k horses that are up for 10k+ then the market will simply keep going! If people stop buying them at these high prices then the market will fall and 6k horses will be worth 6k again!

That depends how much people value a nice horse .
Personally I have no issue with paying in excess of 10k for sane straight forward all rounder these nice all round types have been under valued for years .

 

[Birker2020]

People are just getting greedy. Reading the adverts in the past few weeks of H&H and its ridiculous. 12/13yrs old thathave done NOTHING and thr asking prices are circa 10k

My last horse had more talent in his one foot than some of these have in their entire bodies! Compared to all the things we have done and all the things we had achieved together, which although modest in comparison with what some of you with your horses have achieved are still hugely greater than most of these adverts.

The horse I've seen advertised (that hasn't shifted) on a website that doesn't look like its worth more than 4K yet is being sold for 17K because it came 1st in its first ever dressage test and that was all it had to its credit. How does that make it worth £17K??? Well there might have only been her in the class!

The one with a single photo of it peering over a fence in a field, that was £12K and has now gone down to under 5K.

The horse that was undeniably lame in the video I was sent so I told the vendor 'no thank you'. They asked me why and i said as nicely as I could 'it was lame' and they blew up at me.

The horses that land after a fence and get really low to the ground but then take off tail swishing like mad because of the pain.

Or the horse that goes from trot to canter and nearly bucks the rider off or the video of the horse that quietly tries to change behind in canter all the time.

The horse that walks like it has a broom up its arse because it probably has SI issues.

Or the one that walks with its tail to the side constantly because it probably has neuro/spinal issues.

Chancers. That's all they are. And I feel I am well qualified to say that having been looking solidly and following every lead in existence for the past 3.5 months!

The one I'm seeing tomorrow judging by what I have told it has done seems fairly priced and I am happy with paying that. But some of them are just chancers I'm afraid.