Adopting a Pet? 4 Expenses to Prepare For

Now that the weather's getting warmer, many people are thinking about adding a new four-legged friend to their household. It's a big decision, one that will affect not only your daily life but your finances as well, so it's important to be prepared. Here are four common expenses most new pet owners face.

1. Adoption fees

First and foremost, you have to pay to get your pet in the first place. Adopting a dog or cat from a shelter is generally cheaper than purchasing a purebred from a breeder. Shelter adoption fees for dogs can range from $100 to $725, according to Rover, while cat adoption fees can range from $35 to $200. But buying from breeders could easily cost you hundreds or even thousands of dollars.

But there's always personal preference to weigh as well. If you really want a particular breed of dog or cat, you may prefer to pay the extra cost.

2. Initial vet bills

Once you've brought your new pet home, you'll probably want to take them to the vet to get them checked out. They may need their vaccines if they haven't gotten them already. And you may choose to have them spayed or neutered if you don't want to worry about puppies or kittens. 

Costs will vary depending on where you live, what you want done, and whether you have pet insurance (see below). But it's possible to spend several hundred dollars on these initial vet visits. If you want an accurate idea of what you'll pay, try contacting some vets in your area to learn what they charge for these services.

3. Pet insurance

Pet insurance coverage is optional, but more and more people are investing in it to help them avoid surprise bills if their pet gets ill or injured. Just like health insurance for humans, pet insurance has deductibles, copays, and premiums. Premium costs vary by location, breed, and the age of the pet. You generally have some say in your copay and deductible.

It's usually a good idea to compare rates and coverage options from several pet insurers before purchasing a policy to make sure you're getting a good deal. Generally, dog owners will pay significantly more than cat owners. But both can expect to spend a few hundred dollars per year, plus more if they need to file a pet insurance claim.

Those trying to keep costs down could consider an accident-only plan rather than a comprehensive plan that covers accidents and illnesses. On the other hand, if you want the most complete protection possible for your pet, you could look for a policy that offers optional wellness add-ons for things like vaccines and routine care.

4. Other pet supplies

Unless you already have pets, you'll need to invest in things like pet beds, collars, food, food bowls, toys, and treats for your furry friend. It may seem like a lot of small things, but it can quickly amount to hundreds of dollars. 

Price these items out ahead of time so you know about how much you'll need to spend. And watch for sales at pet stores to see if you can get any of it at a discount. You may be able to find coupons for pet food and other supplies online as well.

No matter what you do, you can probably expect to spend at least $1,000 to add a new dog to your household or about $750 for a cat. And many people pay more than this. If you don't think you can accommodate all these expenses right now, consider saving up and looking for a new pet this summer when you're a little more prepared.