I have made the mistake, more than once, of buying a horse without having a price range in mind. That means how much I plan to pay for a horse, as well as how much that horse is worth. There are a number of things that determine the value of a horse. They include age, breeding, training, performance history, usability, level of soundness, etc...
On this point of the purchase, it is important that you do your research diligently. Try to find out prices of horses in your area with similar breeding, training, performance history, etc... Where horses are priced is not as important as what buyers are paying. Try to talk to people in your area who have recently purchased to see if they will give you a range of what they paid for their horse. This is a step I have skipped in the past, and it has come back to haunt me when needing to sell.
If you pay too much for a horse, chances are you will be upside down if you want or need to sell. This is no different than buying a car and owing more for the car than it is worth, when you decide to sell it. Any way you look at it, you are going to lose money. For this reason it is very important that you figure out the market value of the horse before you buy.
Keep in mind that all horses are different and the price range you get for a horse is just that, a range. The individual qualities of a horse will be what determines the ultimate price. This is where YOUR price range comes into play. You must know the maximum you are willing to pay regardless of how much you like a horse.
Also, if you are in the market for a horse that children will be riding, you need to plan to spend more to get a horse that is safe, quiet, and eager to put up with a child. I have had horses that visibly prefer a youth rider, almost as if they are protecting the child. We call these horses "babysitters". That type of horse is difficult to find and can be expensive. Invest in a GOOD HORSE and a GOOD HELMET for your child.
Jason Borchardt has spent his life with horses. He has been involved with many disciplines in the horse arena, from showing, breaking, western pleasure, cutting...the list goes on and on. He currently co runs a family ranch in the Texas Hill Country, where he spends the best part of his days on the back of a horse. His desire is to educate people on buying horses, through http://www.realhorseappeal.com, so they don't make the same mistakes he has through the years.
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