You don’t know what you don’t know. And that’s the biggest problem with buying, maintaining and sailing a boat. Most of us full-time cruisers look back realizing we were not fully aware of all the boat ownership costs.
Financial costs include the one-off costs associated with buying and preparing the boat to sail. There are also routine costs such as repairs, maintenance, berthing fees and so forth.
As for the on-going costs, there seems to be an unwritten (or hidden) rule of thumb…
The rule is that newbies fork out a massive amount of money the first year or two of sailing. Usually, by year three they hit a sweet spot of acceptable costs. This rule goes for new boat owners and used alike.
Not wanting to sound negative about the boat buying process, but the majority of boat owners spend an exceedingly massive amount of money UNNECESSARILY. And that’s present company included. Like I mentioned above, you don’t know what you don’t know and that causes big mistakes.
Nothing’s worse than an extra $10,000 bill three months after buying your dream boat.
Here’s a look inside the Boat Buying: Boat Ownership Costs
One off costs to buy the boat
- Travel costs for viewings, professional survey and eventual collection
- Transportation (By water: Skipper or by land: Haulage company)
- Berth/slip/dock/storage fee that current owner is contracted to pay (will you be taking over that liability?)
- …plus 17 more potential costs
One-off costs to prepare the boat for your purposes (getting it ready to do what you want to do with it)
- Rigging – rigging needs to be changed every 10+ years in order for most insurance companies to provide 100% coverage for a demasting. More importantly, it’s a safety concern.
- Communications equipment (VHF, SSB, SAT Phone, other). In addition to having all the equipment necessary for your plans, items like SAT Phones only work with the purchase of airtime.
- …plus 50 more considerations
- Insurances (Boat, health and specialty insurance ex. hurricane lift-out, helicopter evacuation, medical advice)
- Anchorages at each location (Anchoring permit/fee, rubbish/trash removal, boat boy fee (help to anchor/get a mooring ball)
- …plus 20 more categories with well over 100 potential costs including ‘The things you don’t think of’
Consider the price you’ll pay if you buy a boat with massive hidden costs…and then consider the cost of this guide. Which one would you rather pay for?
As with all my guides if you don’t find that the information provided highly valuable, I will happily refund your money. No questions asked.
Total pages: 18 (Includes: the costs associated to buying a boat, the costs associated to getting the boat ready to serve your plans and the numerous on-going costs).