Life decisions. Horse vs upsize house

[Patch55]

So I appreciate that I am very lucky to even be in this situation. But I just cant decide on a course of action.

Me and my partner bought a one bedroom flat two years ago. And we enjoy living there, it's a great place. But with Covid and our working from home a lot more we have been thinking about upsizing.
Whilst I LOVE having a horse, I need 7 day livery and between livery, insurance, farrier etc etc I cant save any money. I dont like to keep a horse on a shoestring so after factoring in all the added "bits" there is no spare money. And if there is... it would go on lessons and getting out and about ?

We are both working from home 4 days a week and are looking to upsize to something with a garden, parking and an extra bedroom. It seems like a sensible life move, but not because we have any issues living where we currently live, it would just be nice to have room for guests and outside space etc.

But if I have a bigger mortgage, I cant afford a horse.
If I have a horse, I cant afford a bigger mortgage.

Its particularly frustrating as I have a space at an amazing yard, really peaceful with great turnout and hacking and the odd cross country jump dotted about, it's perfect.

Another thing to consider is that buying a horse in the current market would wipe out a chunk of my current savings.

Although I have shared in the past, it's just not the same as having your own. It is something I guess I could consider again but..... it's definitely a compromise.

What would you do?

 

[Gloi]

Is your horse suitable to take on a sharer for, for a while?

Sorry I thought you already had one. I think sadly if you haven't the house would come first.

 

[coblets]

Could you put your horse on part loan for a couple days a week, to earn a little money? Or get someone to share it on the weekends and have 5 day livery instead? What about putting it up for full loan?

Have you found any houses yet that you're interested in or is this just an idea? The housing market's also on the overpriced side at the minute (at least, where I'm at).

I think you have to decide just how much your horse means to you. You don't say much about it, so I don't know if it's your heart horse, or a horse you're just having some fun with. How does the idea of not owning it make you feel? If you can't bare it, it might be worth considering cutting down on how much you're spending on your horse.

 

[splashgirl45]

if you dont already have a horse i would upsize to make both lives easier especially as you are both working from home more.....there is always the option of having a share so you can ride a couple of times a week and still get your horsey fix without the huge expense of your own....

 

[AmyMay]

It’s not clear whether you have a horse or not from your post.

 

[Patch55]

No, apologies it isnt.

I have a loan horse who came from a field, but unfortunately he just isnt sound so hes going back to his owners to be grandad other youngsters.

So technically, yes at the moment I have a horse. But that is soon to change so I am trying to get my decisions made as if I go down the house route, I will give notice e at the yard etc and start saving some pennies again.

 

[Dexter]

Do you need 7 day livery every single week or could you use services when required? Theres ways to keep horses cheaper without scrimping or cutting corners

 

[AmyMay]

In that case I’d go for the larger house.

 

[Patch55]

Do you need 7 day livery every single week or could you use services when required? Theres ways to keep horses cheaper without scrimping or cutting corners

I have been toying with this thought a lot. But for me, turnout is essential and the Assisted DIY yards near enough to home just dont have regular winter turnout. 5 day livery would be ideal as I like the "looking after" aspect but, again, tied by what yards offer. I will travel for work/at weekends again soon so I do like the reassurance and routine of a 7 day livery.

I must admit that not having to do feed runs, organise hay/bedding deliveries, scrub water buckets in freezing conditions is quite nice too!

 

[Sussexbythesea]

In your circumstances I’d concentrate on upsizing your home. Once you’ve done that and re-evaluated then you can think about if or when you might buy your own. There are a lot of ways to be involved with horses in the meantime.

I personally don’t make sensible decisions and would likely do the opposite ?.

 

[Griffin]

If you don't already have a horse, I would upsize your house.

However, just because you are paying out on a bigger mortgage doesn't mean you can never have a horse. I live alone and although I don't earn very much, I pay my mortgage and own a horse. It is a struggle at times but I would never sell her and I economise in other areas.

Horse prices are steep at the moment but they may not always be and sometimes people are looking for good homes rather than the cash.

 

[Northern Hare]

My personal view is to go horse-less for a while, save like crazy, go for bigger property, then see what money you have spare, and poss go for a part share until you can comfortably afford a lovely horse on a nice yard.

I lost my retired horse last year, and frankly I am totally amazed at how much money I’m now not spending on all things horsey! He was on Full Livery on a very good “no frills” yard. He did have quite a few different medications, special feeds and expensive shoes, but with all the other extras (insurance, trailer etc) I now reckon I was spending getting on £800/month. That’s a decent sized mortgage, as my OH used to tell me in jest! I never actually did the sums at the time because he was in my care (long term loan) and as long as he was happy, then so were we, but it just shows how much it can easily add up. ?

 

[Coblette]

Sorry but for me I think I’d have to go for the house first and part loan until I could save enough to buy. If house prices continue to go up it may become harder to upsize later on

 

[Dexter]

I have been toying with this thought a lot. But for me, turnout is essential and the Assisted DIY yards near enough to home just dont have regular winter turnout. 5 day livery would be ideal as I like the "looking after" aspect but, again, tied by what yards offer. I will travel for work/at weekends again soon so I do like the reassurance and routine of a 7 day livery.

I must admit that not having to do feed runs, organise hay/bedding deliveries, scrub water buckets in freezing conditions is quite nice too!

The 100% go for the house. I give up a lot to have my horses, and simply couldnt afford them on full livery. If you really wanted on you could find a cheaper way to keep them. So go for the house and come back to horses later.

 

[poiuytrewq]

I

In that case I’d go for the larger house.

I read that as larger horse! ?
That would be skirting round the decision!
Op, as you don’t already own I’d be inclined to go with the house idea and maybe look for something to ride til your more able to afford both.

 

[SpotsandBays]

House first. Steal some of your friends horses if possible, or find a share/loan till you’re on your feet again! Good luck!

 

[Michen]

I have been toying with this thought a lot. But for me, turnout is essential and the Assisted DIY yards near enough to home just dont have regular winter turnout. 5 day livery would be ideal as I like the "looking after" aspect but, again, tied by what yards offer. I will travel for work/at weekends again soon so I do like the reassurance and routine of a 7 day livery.

I must admit that not having to do feed runs, organise hay/bedding deliveries, scrub water buckets in freezing conditions is quite nice too!

Totally understand if you are working away etc but if the latter part is playing a big part in why you can’t have cheaper livery then go for the house. Because in simple terms you don’t want the horse “enough” and it will just become a chore.

 

[Patch55]

Sensible, logical advice everyone. Thank you.

The house hunting begins!

 

[poiuytrewq]

Sensible, logical advice everyone. Thank you.

The house hunting begins!

Exciting! Good luck

 

[rextherobber]

I'd do the opposite - bigger house just means more housework, time spent mowing the lawn and things...how much time do you actually spend at home when you have a horse anyway?! (

 

[Lois Lame]

Isn't housing very expensive at the moment? It is here in Australia, the USA (I read an American forum) and I figured the UK would be the same.

Can you share a good horse in a good place, stay where you are at present and save whatever you can to upgrade at a more practical time? It sounds like you are really enjoying life at the moment. That's a super thing.

Good luck whatever you decide.

 

[lottiepony]

Given your current situation I'd go with house.

You will be able to own a horse and have a mortgage (most people do and have more than 1 horse) it might mean a few changes as to how you keep you horse but it is doable.

 

[ihatework]

At this point in time I’d definitely go for the house, and compromise with a share horse

 

[WispyBegs]

My heart would be telling me to buy a new horse....
but my head would certainly be telling me to upsize my house!

But in your situation knowing me I’d buy the horse... I don’t make sensible decisions?

 

[rara007]

I’m not a grownup at nearly 30 ? so I’d buy the horse. But tbh the current horse market is terrible so it may be wiser to upgrade the house.

signed Single, 2 smart horses, 2 dogs, only just upgraded from my first car and no house.

 

[AShetlandBitMeOnce]

I don't see a horse vs house, surely it's an income issue? So could you upskill or do any small qualifications to be able to get another job that pay more? I'm not sure what sector you're in or what level you're already at so this could be a redundant suggestion.

 

[Annagain]

I'd go for the house too, it's not just you to consider in this. There's your partner too and if you're managing to cope with the two of you living and working in a one bed flat, you're doing better than OH and I are! He works shifts so is at home a lot in the day when I'm trying to work and, frankly, it's a nightmare even in a 3 bed house with a garden! I know it won't be forever but working practices are likely to change so people will be doing at least a few days a week from home from now on. You're also likely to earn a bit more every year as you progress up pay scales so it's not forever, it's just for the next year or two.

 

[Leandy]

House. You are unlikely to want to live in a one bedroom flat for ever and are already finding it too small. You have a natural break coming up between horses. You need to think long term here.

 

[Tarragon]

Does your partner have a say in this?

 

[Tarragon]

My father's advice is that you should, as a couple, by the biggest house you can afford, because when you are young your salary generally goes up as you gain experience and promotions, while your mortgage, which was vast in the first place when compared to your income, will not change.