Are you financially prepared for pet parenthood? 

Pets can significantly enhance our physical and mental health, offering companionship and support during times of illness or low spirits. They also provide a sense of security, reassurance and comfort, both at home and while out of the house.  

Before bringing a pet home, it’s essential to research their basic requirements. Understanding the specific needs of your chosen pet can ensure that you are well-prepared. Additionally, before adopting or purchasing, we highly recommend researching your chosen pet and breed particularly given the propensity for certain breeds to experience specific health conditions. 

Fundamental needs and costs of owning a dog 

According to the Australian Veterinary Association, in 2024, the average cost of owning a dog over its lifetime exceeds $25,000¹. It’s important to consider not only the initial costs for adoption or purchasing from a breeder, but also the ongoing expenses that can accumulate over time.  

Beyond the initial costs in the first year of owning a dog, you may incur an annual cost between $3,000 and $6,000 for the rest of their life². Dogs can live up to 20 years of age, but it’s also important to remember that their lifespan and subsequently the total cost of dog ownership varies substantially, with some dogs only experiencing an average lifespan of 8 to 10 years. Key factors that determine longevity are size, breed, lifestyle, nutrition and health. Just like humans, dogs are also at an increased risk of developing age and lifestyle related health conditions as they grow older. 

Adoption: The cost of adopting a dog can range from $200 to $1,200 with typical adoption fees of around $500³. When adopting a dog, the costs of desexing, microchipping, initial vaccinations, worm and flea treatments are usually included in the cost; this can help to reduce initial expenses⁴. 

Buying a pet: Buying a dog from a reputable breeder can cost anywhere from $800 to several thousand dollars, depending on the breed.  

Dog ownership costs to consider: 

• Microchipping, vaccinations and de-sexing: Up to $1,000 and upwards in the first year 

• Council registration: between $40 to $200 per year 

• Pet food and treats: approximately $600 and upwards per year 

• Collar, bed, bowls, toys, kennel or scratching post: From $500 and upwards 

• Annual vaccinations and veterinary checks: Approximately $600 and upwards per year depending on location and your pet’s health 

• Flea and worming treatments: Approximately $100 to $150 per year 

• Pet insurance: Approximately $60 to $120 per month  

• Grooming depending on breed and frequency: $30 to $200 and upwards for grooming 

• Puppy school: The average cost ranges from $150 to $275 and upwards, depending on state and location 

• Boarding kennels and catteries: depending on location, breed and size of pet it can range from $25 to $105 a night 

^{Please note that these are average costs and may vary based on the gender, size, and breed of the dog.5} 

Fundamental needs and costs of owning a cat 

Owning a cat is a lifelong commitment. Depending on their breed, health and lifestyle, cats are now regularly living to 20 years of age or more. Just as with dogs, the total cost of cat ownership can also vary substantially and is based on the cat’s age, breed, size, lifestyle, nutrition and health. 

Adopting a cat: The cost of adopting a cat can range between $100 to $300. When adopting a cat, they will only be re-homed after desexing and should be up to date with their vaccinations and other veterinary care⁶. It’s always important to obtain as full a medical history as possible when adopting your cat, to ensure you’re aware of their current health status and any existing medical conditions with potential ongoing care needs. 

Buying a cat: Buying a cat from a reputable breeder can range anywhere between $300 and $2,000. Breeder costs will vary according to breed, geographical location, the health of the cat and breeding rights*⁷. 

*Breeding rights refer to the legal permission granted by a breeder to an individual, allowing them to mate and produce offspring from a specific animal, typically governed by a contract outlining terms and conditions⁸. 

Cat ownership costs to consider: 

• ID tag and collar: $15 to $30 

• De-sexing: $115 to $300 

• Microchip: $60 to $80 

• Cat bed: $30 to $70 

• Brush for grooming: $7 to $60 

• Litter box: $30 to $100 

• Litter scoop: $7 to $30 

• Toys: $30 to $60 

• Cat carrier: $30 to $90 

• Bowls: $15 to $45 

^{Please note that these are average costs and may vary based on the gender, size, and breed of the cat.9}  

Veterinary care

Veterinary consultation costs differ between veterinary practices, and a visit for a sick pet is typically more expensive than for a healthy one, due to the fact that they’ll likely need medication and/or a diagnostic work-up to identify the underlying cause of the presenting symptoms. Pet owners can expect to pay an average of $70 to $100 for a standard health check-up. To learn more about the costs of the top health conditions in dogs, cats and other pet health conditions, download our 2024 Pet Health Monitor.   

Pet insurance 

Insurance can be costly whether you are a human or a pet, but it can help alleviate some of the worries associated with unexpected expenses. Like humans, our pets may experience traumatic accidents and injury, or they may develop an illness that requires regular monitoring, prescription medications or other treatments. Some breeds are also prone to developing specific health conditions too. Although pet insurance isn’t for every cat or dog owner, when preparing for pet parenthood, it’s important to factor in all potential pet health care costs. 

Sources

1 https://www.rspcansw.org.au/what-we-do/care-for-animals/owning-a-pet/costs/#:~:text=According%20to%20the%20Australian%20Veterinary%20Association%2C%20over%20the,spend%20more%20than%20%2425%2C000%20per%20animal%2C%20on%20average.  

2 https://www.dogster.com/lifestyle/cost-of-owning-dog-in-australia#:~:text=Expect%20to%20pay%20anywhere%20up,above%20and%20below%20these%20figures 

https://moneysmart.gov.au/family-and-relationships/getting-a-pet

3 https://www.rspcansw.org.au/what-we-do/care-for-animals/owning-a-pet/costs 

4 https://www.rspca.org.au/latest-news/blog/guide-adopting-your-first-pet 

5 https://pangovet.com/pet-lifestyle/cats/how-much-does-it-cost-to-own-cats-australia/ 

7 https://www.lawhandbook.sa.gov.au/ch31s11s17.php  

https://www.aspca.org/adopt-pet/adoption-tips

AMAU008-Pet-Ownership22-Report_v1.6_WEB.pdf (animalmedicinesaustralia.org.au)  

https://www.petfinder.com/dogs-and-puppies/information/dog-facts/how-much-does-a-dog-cost

https://www.smh.com.au/money/planning-and-budgeting/can-you-afford-to-own-a-pet-here-s-what-to-keep-in-mind-20240220-p5f69b.html

https://www.petfinder.com/cats-and-kittens/information/cat-facts/how-much-does-a-cat-cost/

https://petpedia.co/dog-care