Are you ready for the expenses and commitment of a new cat or dog? Here are key aspects to consider, from budgeting to safety.

There are many perks to adding a new dog or cat to your household. Beyond offering companionship, they can boost your mood, motivate you to stay active, and reduce your stress. Before you start looking for the perfect furry addition to your home, consider the costs and commitment that come with a new pet.

Adoption is the promise to care for the pet for its entire life, and you don’t want to fall in love with one before understanding what’s involved in pet ownership. To help you decide whether your home is ready for a new pet, below is a breakdown of the various costs and considerations.

Financial Costs

Financial costs will obviously be a significant factor in your ability to adopt a pet. When budgeting, account for both initial and ongoing expenses.

Initial Expenses

Costs start with the actual price of a cat or dog. Some organizations and shelters have programs or sponsorships that allow pets to be adopted for $0, but these instances aren’t common. The average adoption fee for young cats is $86, while the average fee for cats over a year old is around $56. For dogs, the average adoption fee for puppies is around $198, while fees for dogs over a year old average around $116. If you choose to adopt from a breeder or luxury pet store, it could cost thousands.

New pets require time, energy, and money – so how do you know when you’re ready?

Your new pet will also need supplies, including a bed, food, treats, food and water bowls, grooming tools, and toys. Dogs also require a collar and leash, while cats would benefit from scratching posts or a cat tree. Even if you purchase low-cost supplies, this can easily cost an additional $50, at minimum.

Finally, your pet will need to be checked out by a veterinarian. The vet will perform a thorough wellness exam to identify any abnormalities or conditions, like roundworms or skin allergies that need treatment. The vet will administer vaccines and may recommend spaying, neutering, or heartworm and flea prevention. Accounting for vaccines, diagnostic tests, and the exam, the initial vet visit can cost $200 or more, with services like microchipping, spaying, or neutering adding to it.

All told, you can expect to spend over $1,000 in the first year of pet ownership, according to the ASPCA.

Ongoing Expenses

After initial costs, there will be periodic and continuing expenses, too. Supplies like pet food, treats, and cat litter will usually need to be bought every week. Bedding, brushes, toys, and collars need to be replaced when your pet outgrows them or they become worn. Dogs also require nail trimming and grooming – particularly double-coated breeds like huskies – as often as every other month, which can cost $50 or more per professional session.

Medical expenses are another ongoing cost. Dogs and cats should have yearly wellness exams, where they’ll be screened for diseases and receive vaccine boosters if needed. Appointment costs vary by veterinary clinic and animal species, but prepare to spend at least $100 for each appointment.

Other Costs to Consider

• Housing
  If you rent, you may be subject to a pet deposit, higher monthly rent, and/or a move-out cleaning fee. If you’re the homeowner, be aware that pets may damage flooring or furniture, increasing maintenance and repair costs.
• Travel
  Traveling without your pet means potentially paying hundreds for boarding or pet-sitting services. If you take your pet with you, hotels and transportation costs will go up, and it may be difficult to find pet-friendly accommodations.
• Training
  Obedience classes for dogs are a useful resource, but they can be costly and require several sessions.
• Walking
  If you work long hours, you may need to hire a dog walker to ensure that your pet stays active and accident-free, which increases pet costs.
• Pet Insurance
  Similar to health insurance, pet insurance covers veterinary expenses for illness, injury, or even wellness exams, depending on your policy. Monthly premiums will need to be accounted for, as will your out-of-pocket deductible. Some cat and dog breeds are prone to health issues or illnesses – such as heart and liver disease in cocker spaniels or progressive retinal atrophy in Bengal cats. These may lead to ongoing costs in the form of medications or more frequent checkups. Research breeds you’re interested in so you’re aware of potential health concerns before adopting. Emergencies like acute illness or injury can also cost hundreds or thousands of dollars, even with pet insurance, which can lead to difficult decisions. If possible, it’s best to factor unexpected pet health costs into your emergency cash fund so you’re prepared. Programs like CareCredit also offer lines of credit to cover veterinary expenses in these situations, allowing your pet to get immediate care that you can pay off in manageable monthly installments.

Lifestyle Considerations

Beyond budgeting concerns, there are several lifestyle adjustments and commitments involved in owning a pet.

Home Environment

Is your home set up to handle the pet you want? Dogs often need a sizeable yard or nearby park to play and do their business in, ideally one that’s fenced in. Cats are safest in homes that don’t have multiple gaps or openings leading to outside, such as uncovered air vents or areas that are being remodeled. If you rent, you’ll also need permission from your landlord before getting a new pet.

Time Commitments

Cats are often more independent than dogs, but both species require care and affection every day. Dogs in particular don’t like to be left alone and need regular attention. Some dog breeds – such as herding dogs like collies and terriers – are high-energy and require intensive activity, like running, long walks, or multiple playtimes throughout the day.

Similarly, if you spend much of your time traveling, a dog or cat may not be the best fit for your home. Even with a pet-sitter, long stretches of time spent without their owner can be stressful for pets and detrimental to their overall well-being.

Family Considerations

Unless you live alone, you should consider how other members of your household might be affected by pets:

• If someone in the household is allergic to pet hair or dander, some pet species should be avoided, including cats and dogs. Even “hypoallergenic” breeds can aggravate allergies. Animals without fur – like fish or exotic pets – are best-suited to households with allergies.
• If there are children in your household, adopt a pet that you know will do well with them, and teach your children how to interact appropriately and safely with pets. Young animals can be raised to be gentle with children, although cats might still scratch when bothered. If you want an adult animal, look for one whose history with kids is known, such as those fostered or raised around children.
• Animals, especially cats, can run underneath your feet or lay in the middle of the floor, posing a concern for those with mobility limitations (like seniors). In these households, pets that don’t have free rein are best, such as hamsters, birds, or fish.

A Lifelong Commitment

While pets can be fantastic additions to homes, they’re also a lifelong commitment. You’ll be responsible for their health and happiness for as long as they live, which can be well over 10 years for some cats and dogs. Before you start shopping for a new pet, it’s crucial to know that your budget, your home, and your family can meet its needs.

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