Boat Buying Costs

How much does it cost to buy a boat? Well you could just hand over the money and that is all it will cost you. However most people will want a survey to ascertain the condition of the boat and often it is necessary to get insurance cover. If the engine(s) form a large part of the cost of the boat, or there is reason to doubt the condition, then having a diesel mechanic check it over is much cheaper than unforeseen expensive repairs. On a sail boat, if the age or condition of the rigging is of concern, a rig check by an experienced yacht rigger is relatively inexpensive.

Here are some ball point figures for monohulls for these expenses but you’ll want to get accurate costs from suppliers in your area.

• surveyor - around $26 per foot
• survey haulout - around $4.50 per foot
• engine check - around $60 ph
• rig check - $150 - $500

Ongoing costs of owning a boat

Once you have purchased your boat how much will it cost to own? Obviously this varies greatly depending on the boat size and location but here are some indications.

• insurance from approx 1% of boats value (varies with age, usage, construction type)
• marina berthing from $0.30 to 0.70 per ft per day depending on location
• swing mooring from $0.05 per ft per day
• annual maintenance (haulout, antifoul & polish) - DIY from $25 per ft, Pro from $80 per ft
• engine service - varies from a couple of hundred dollars to thousands depending on engine size and usage
• registration - $50 - $500 pa depending vessel/State
• licensing - $40 - $150 pa
• fuel $100 - $thousands, Depends on vessel/usage

Other Maintenance Costs

From time to time boats will need extra maintenance or repairs such as engine replacement, osmosis treatment, new rigging and new sails. When you purchase the boat you will have some idea of whether any major items will need replacing during your envisaged ownership and you can budget accordingly. Also unforeseen major repairs may arise and should be factored in. The bigger the boat, the bigger the bill is going to be.