The Two Happiest Days for a Boater
June 11, 2013They say that the two happiest days in a boat owner’s life is the day they buy their first boat and the day they sell their last. Well, I must be new enough to boating to still be experiencing my first happy day and at this point, I would imagine the day I sell my last boat will actually be a sad day indeed. However, I can see where this saying came from now that I’ve had to bear the cost of three seasons boating on the Chesapeake Bay, which has confirmed the reality of another old joke that a boat is a hole in the water you pour money into.
When my husband and I bought our boat in the spring of 2011, it was after years of dreaming about it. What finally pushed us was the fact that the kids were now adults, college costs had been minimal, and we were on track with retirement savings and had very little debt. We even purchased a used boat after putting out a low ball bid, knowing as a novice captain (my husband) and first mate (me) we were bound to hit a few fuel docks and pilings as we learned to navigate – thank goodness for bumpers!
Even with this in mind, I still had no idea how much we’d end up spending to be able to enjoy finding our way around all the rivers and creeks off the Upper Bay. We wound up with a 26-foot cabin cruiser that we got as a steal for $32k and have been averaging about another $4k each year for carrying costs. The way I view this expense is as a replacement for any summer vacations we may have otherwise taken since now every weekend you can find us at the marina. We have learned to minimize costs a bit by finding a nice spot to anchor close to our dock to save on the fuel costs.
If the summer’s heat and sunny weather have you thinking about taking the plunge into boat ownership, keep in mind that the actual purchase price of the boat (whether new or used) is just the beginning – so get your checkbook ready! I can personally vouch for this never ending list of costs for owning a boat, posted on Bloomberg.com:
- Sales tax and registration
- Fuel and oil changes
- Insurance
- Dockage fees and winter storage
- Winterizing/De-winterizing costs
- Bottom painting and hull waxing
Not only will you face the expenses above, but then you have to factor in all the “extra fun”, including towable rafts, a cooler that constantly needs refilling, a new bikini, a doggie life jacket, sunglasses, etc. These can add up to hundreds of dollars more on top of the few thousand dollars for the major costs listed above. But spending quality time on a tranquil river with family and friends in tow – priceless.