Count the Cost of Pet Ownership to Avoid Surprises

How much does it cost to own a pet? It's something that not enough people think about before buying or adopting a companion animal

. And failure to count the cost can have serious financial, medical and even legal consequences.

Likely people purchasing big-ticket breeds are going to put more thought into the costs, but even if you adopt a free puppy from the neighbor, the long-term commitment is going to be costly, even at the budget level.

People who have never owned a dog, for instance, may not understand the need for a dog's housing, exercise, routine medical care and feed costs. Ensuring that a yard is properly fenced, for example, can be a major cost up front.

And on an ongoing basis, the costs of food and routine medical care can cost from hundreds to thousands of dollars a year, depending on whether your dog gets budget treatment or the luxury life. Over the life of a dog that lives 14 years, the total cost of pet ownership might range from several thousand dollars to nearly $40,000, according to PetEducation.com.

The American Society for the Prevention of Cruelty to Animals (ASPCA) also has a chart showing the first-year and annual costs for various pets, figured at the medium range of pet care. The annual costs under the ASPCA chart come in at $875 for a large dog, with a lifetime cost of around $12,000.

Most of us don't think about our "family" that way, of course. The estimated cost of raising a child in a modest way is about $250,000, but the total costs aren't generally a big factor in deciding to have a baby. Emotions weigh much more heavily for both babies and puppies.

But unlike babies, there is no analog to the human health insurance, and that's a factor that can drive pet owners unexpectedly to face life or death situations. A serious accident, major illness or degenerative condition may put the pet owner into a situation in which they have to pay thousands of dollars out-of-pocket, even with the best pet health insurance . . . or to face the prospect of the pet being euthanized.

"A pet can be one of the most rewarding companions a person can have," said Dr. Michael Becker, founder and chief veterinarian at San Antonio's Becker Animal Hospital and Pet Resort. "But it's very important that people educate themselves about the real costs of owning a pet."

Count the Cost of Pet Ownership to Avoid Surprises

By: Jon Donley

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