One thing hasn’t changed since yesterday’s email: it is still hard to estimate how much it costs to own a boat.
Boats are one of those toys that everyone puts a lot of thought into the initial investment, but a lot of people forget about the ongoing costs. This article has a good list to get you moving in the right direction. Another good idea is to talk to people who have a boat similar to the one you are considering. While a lot of people don’t like to talk about money, you can at least ask what surprises they have had. Most boat owners LOVE to talk about your boats. I may have been known to drag people onboard to check out our SeaDek and brag about its comfort and safety…
Even regulations can make for a surprise. San Diego is considering limiting how often boat hulls can be cleaned in the water. If this passes, divers may well need to raise their prices in order to continue their businesses. That will come as a surprise to folks who aren’t keeping up with proposed rule changes.
Another surprise for a lot of people can be how much towing costs. Or even what exactly is covered by tow insurance, if you purchase that.
There are good surprises, as well. If you are buying a new to you boat, San Diego Marine Exchange will sign you up for a special new boater discount for the first three months! And many people are very surprised to realize that if you can dock your boat at a yacht club, you can make up your costs rather quickly. How quickly will depend on what your upfront fees were, which will often depend on your age, which we don’t have much control over. However, I can say that for us, the yacht club dues + galley fees + slip fees + electricity is still about 25% less than our marina fees were. And while we are no longer living aboard, the additional fee for that at our club is significantly less than it was at the marina. However, not many local clubs currently allow liveaboards.
Keep safe, Keep learning