How Much Does It Cost To Maintain A Boat Per Year
- Posted by:
- Posted date:
This article looks at how much it costs to maintain a boat per year. Find out more about maintenance, servicing and inspections for your boat.
What are Boat ownership costs and budgeting?
If you are thinking of purchasing a new boat or craft, the costs involved will be a key factor in your consideration, whether it will determine what type of craft you buy or whether you buy at all.
However, you will find that boating or sailing is one of the best value-for-money experiences compared to alternative recreational vehicles and activities.
Of course, the initial boat purchase and annual costs can be expensive, but considering how much you can get out of it, these boat costs quickly shrink to insignificance.
A rough guide to boat maintenance costs often heard around the marinas and docks of the UK is that your maintenance budget should be roughly 20% of your boat's initial value every year. With old sayings often being the truest, the same goes for this one.
This is primarily because you are more likely to find more expensive boats at more expensive moorings, with cheaper craft finding their homes in cheaper areas. Generally, more expensive boats will also have larger annual running costs.
However, you should not let this rough adage be your guiding light when purchasing a boat. The resale prices of many second-hand boats have sunk sharply in the past couple of years, meaning it is now cheaper than ever to get into boating - a dream for would-be boat buyers.
Of course, while this is good news for purchasers, it also means that your 20% total cost for maintenance budget will be inaccurate with the new, devalued price of your craft.
This article will look at the average boat maintenance costs and more general ones of boat ownership in more detail to better understand what you need to budget for.
Costs of owning a boat
Average Maintenance Costs Of A Boat Per Year.
As you may have guessed by now, calculating all the costs of owning a boat per year is tricky.
There will naturally be differences in true cost between boat classes, but there are some even between similar classes with different owners.
Some boat owners will be happy to perform technical maintenance work themselves, saving money, while others would rather leave it to marine engineers, sailmakers or boatyard attendants.
A simple trick to help save money regardless of the type of boat you own is to keep a wary eye out for any damage or faults in your boat.
Regularly checking your engine or standing rigging and sails will help you spot any issues early, allowing you to rectify them before they have a chance to become expensive disasters.
It's far better to be safe than sorry when it comes to owning a boat, both for your safety and the safety of your bank balance.
There are some expenses that all boat owners will have to contend with at one stage or another, such as replenishing their antifouling and sacrificial anodes. Doing this yourself can keep things nice and cheap, with this process costing on average between £100 to £200, depending on the antifoul quality.
Conversely, hiring a boatyard to carry this maintenance out will vary depending on where you are moored, but can range from £200 to £400 depending on their labour fees.