I do agree that some people cannot afford to keep a horse at home and they just board their horses at ranches/stables, but it will be much cheaper if you keep a horse in a paddock (either at your house or in-a-way close to your house) with just water, hay, and a shelter (man-made or natural). Technically, horses only need: a companion, food, water, a shelter, and exercise. And all of this can be done in a pasture (yes, horses can get a good amount of exercise; of course, you should still exercise them).