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Old 07-31-2009, 08:10 PM   #3
2bucks
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Join Date: Oct 2007
Posts: 698
RE: The real costs of boat ownership

I think your planning is a good idea, the thing that pops out to me is that you haven't gone anywhere yet. Transient moorage, I'm paying $1.40 per foot per night in Victoria right now, eating out every so often, and fuel will add to your costs.

I also concur with Marin that the charter idea might sound attractive if your goal was to buy a boat that was more expensive than you could make payments on and you wanted some help making the payments. I know some people who did that and it worked well for them.

You don't say though how many nights per year you plan to use the boat or how you plan to use it. If you plan to take a 3 week vacation in the prime vacation time each year your charter income will be impacted. (quite drastically here in the PNW where the prime time is relatively short) I am a big fan of knowing I can walk down and drive off in my boat any time I want to. I have, as Marin describes, enough stores on board to take a long weekend with just a bag of fresh groceries. There is real maple syrup in the fridge, pancake mix, canned soup, and in the summertime frozen meat and popsicles. My clothes are in the drawers, my toolbag and spares are right where I left them. It's worth it to me to have the boat like this and not in charter or even in partnership.

So it seems to me your decision needs more contemplation of how you'll use the boat. Do you want to take every third weekend on the water? Do you spend 3 weeks every summer on the boat? Do you do both? Some people save money by chartering, some by being part owners, others need to have the boat available to them all the time. If you can make a good guess on how you'll use the boat, perhaps the answer to how to buy the boat will get clearer.

Ken
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