If you are interested in purchasing a boat, you probably have already run your finances to determine the maximum amount you can afford to spend on a vessel. If you are like most prospective yacht owners, you will end up financing at least a portion of your purchase. It can be tempting to figure out the maximum amount you can afford monthly, and seek a loan with installments that are close to that figure. Boat ownership entails many more costs than just the purchase price, though. This guide to the cost of owning and operating a boat will help you perform a more realistic assessment of the outlay required so you can find a vessel you can genuinely afford.
Oil and Fuel Costs
If you are looking to minimize fuel costs, purchasing a sailboat is definitely the way to go. Otherwise, the amount of money you spend on fuel is largely determined by the activities you choose and the size of your vessel. Fishing from a largely stationary position or slowly cruising along will keep fuel costs far lower than pushing your vessel to her top speed.
Repairs and Maintenance
Keeping up with maintenance is essential for the long-term enjoyment of your yacht. Older and larger boats are going to require more maintenance than newer vessels; while you will be able to perform some basic maintenance yourself, you should plan for seasonal servicing by the experts at a professional boat service center.
Docking, Storage, and Transportation Fees
If you are purchasing a smaller vessel, you may be able to trailer it yourself and even store it at your home. Larger vessels need to be docked. Dock space is available on a month-to-month basis, with prices varying by location and marina. Depending on the weather where you dock your vessel, you may need to store it for winter months, and you will need to pay storage fees and the cost to have it moved in and out of the water. You may also incur transportation fees to move your yacht from marina to marina.
Insurance
Boat insurance costs are dependent on several factors, including the length, type, and age of your boat, the price you paid for your vessel, your boating location, and the level of coverage you desire. Shop around to find the best rates.
Crew Costs
If you are purchasing a large yacht or superyacht, you will need to hire a crew to run her. Crewmembers are available on a daily or permanent basis.
The knowledgeable brokers at Atlantic Yacht and Ship have a great deal of experience in figuring out the exact cost of boat ownership, and are ready to help you find a beautiful vessel you can comfortably afford to own and operate for years to come. We have a large selection of boats from which to choose, including this lovely 38′ Contender 2008. She is ready for blue water fishing or family cruising with a full tower, two large staterooms, a spacious galley, and enclosed head and shower. Expertly maintained, she has a full engine warranty through September 2014 and is loaded with upgrades. Priced to sell at US$ 299,000. Call Stephen Faraldo at 561-322-8279 or email him at sfaraldo@ayssales.com.
For more than 53 years, Atlantic Yacht and Ship has been a leader in the South Florida yacht and ship brokerage industry. Our experienced yacht brokers are ready help you find the vessel of your dreams; once you purchase your dream boat, our expert in-house waterside service department will keep her in top condition. Contact Atlantic Yacht & Ship at 954.921.1500, click here, or chat with us by clicking the link in the lower right corner of the screen!