Purchasing Your Own Boat
The dream we all have, owning your own boat. On the plus side you can have it designed and built to your own specification and it will be available for you to cruise whenever you choose.
But the dream can, in reality, become a financial nightmare…
First, there’s the enormous capital outlay for your own boat. Then there are the annual running costs, and the organisation associated with them. For a 57 foot boat, you’ll get precious little change from £4,500 by the time you’ve paid for maintenance, mooring, insurance, licence and servicing.
And, unless you live on board, the cost per week of use is enormous; if you used it for 4 weeks each year over 10 years, it could cost you over £3,000 PER WEEK! ( Including depreciation!)
Even with the lower capital cost of a second hand boat you still have all the annual running costs, perhaps higher for an older boat, which may not have been well cared for by the previous owner.
But, most importantly, high quality boats are just like any other piece of precision, expensive machinery. They look better, run better and last longer if they are used, cleaned and serviced regularly throughout the year.