You may have heard the saying ‘the best kind of boat is a friends boat’. There’s a good reason this is said. Boat ownership can be one of the most costly recreational activates to have, next to owning an airplane. Today we are going to discuss the cost of boat ownership. There are five things you should be aware of when determining what the cost of owning a boat will be. The first is the actual cost of the boat. You can actually finance a boat like you can a car. The next cost outside of the cost of the boat is storage. Some boat slips, depending on where you live, can cost the price of a mortgage fro an average homeowner, so I would suggest doing a lot of research before you take the leap into boat ownership.
The next cost would be maintenance. If you are the kind of person that doesn’t want to touch the boat at all or do any heavy work caring for your boat, you should budget about one percent of the cost of the boat for general maintenance. Remember, a new boat will have minimal maintenance compared to an older boat. Now if you don’t mind a little elbow grease in waxing the boat and changing the oil, you will save a considerable amount of money in the maintenance category.
The next expense to worry about would be the fuel. The average boater uses their boat about 90 hours a year. The average boat in the united states only burns between one to three gallons of diesel fuel per hour. What that means is you will burn anywhere from 90 gallons to 270 gallons, or if you’re looking at current day fuel prices that will be about $300 to $800 on fuel over the course of an entire year. You may think that 90 hours doesn’t seem like a lot of time on the water, but it really is. The least expensive part about boat ownership is insurance. Insurance will run about half of a similar priced car.
This concludes my boating tips for the week. Check http://bit.ly/1RdM5AN next week for more tips on boating.
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