Boat brochures show one number.
Boat ownership involves many.
A confident buyer knows all of them before signing.
The boat you can afford to buy is not always the boat you can afford to own.
The Numbers to Add Up
Purchase price. Finance costs if applicable.
Insurance. Registration. Trailer registration where relevant.
Storage — marina berth, dry stack, hard stand or driveway.
Fuel, oil, servicing and antifouling.
Safety gear, electronics, canvas, tender and ropes.
Cleaning products, spares, and the endless small items that appear whenever you tie up.
The Rule of Thumb
Many experienced owners estimate annual running costs at roughly ten percent of the boat's value.
Younger, simpler boats often cost less. Older or more complex boats often cost more.
Use the ten percent figure as a starting point, then refine it with real quotes for your local marina, insurer and service centre.
Two Budgets Are Better Than One
Write a good year budget — normal use, no surprises.
Write a hard year budget — one major failure, an unexpected repair, higher fuel.
If both budgets are comfortable, the boat fits.
If only the good year works, the boat is a stretch.
A boat should fit your ordinary years — not your best-case ones.
Keep a Reserve
Every ownership year eventually contains a surprise.
A small reserve fund turns emergencies into inconveniences.
- Have you priced storage, insurance and servicing in your area?
- Have you budgeted at least ten percent of the boat's value for annual running costs?
- Can you afford a bad year, not just a good one?
- Have you set aside a reserve for the unexpected?
- Does the total picture still feel comfortable?
- The purchase price is only the beginning.
- Ten percent of value per year is a useful running-cost baseline.
- Budget for a bad year, not just an average one.
- A reserve fund is peace of mind.