Budget: the cost of having a boat

The price of the ship is not everything, there are other expenses that we have to take into account when budgeting the purchase of a boat as they are we to accompany throughout the life of the boat mooring insurance, passing for fuel.

If after much searching online and it is clear and found the boat that best fits your budget, the next step is to see it closely and if it is a ship of considerable cost, order the pre-purchase inspection to be more quiet.

But do not forget that the boat generates other expenses and also the budget of the boat purchase must prepare another budget that includes the annual expenses that will surely have. We summarize here the most important.

MOORING AND STRANDED

The jetty will cost enough , especially in some areas of the Mediterranean. The good news is that it is a fixed annual cost so it is easy to plan. Decide where you would like to have your boat, ask for a quote and make your calculations. But do not forget to include the costs of getting the water boat in winter and stay on the slipway, if you live in an area where this is the common procedure during the cold months. Also try to fixed costs, so again no problem to plan, you just have to make some inquiries.

INSURANCE

The marine insurance can Asum go several ways and before choosing a policy is necessary to appreciate the difference between a safe which is not expensive and one that is cheap. Look agencies specializing in nautical insurance , since there are many technical terms and language that are inscrutable for non – specialized insurance agents. Is convenient informed of all the details that may affect your insurance premium before settling on a particular boat as to take into account certain considerations can opt for the most reasonable option for your budget.

Before buying, the most important thing is to know what percentage of your budget insurance premiums will eat. Today is quite easy to estimate these costs; when you have an accurate idea of ​​the boat that interests you and know your specifications, as this determines the price of the policy, you can consult insurance agent specializing in recreational boating and get a quote.

OPERATIONAL EXPENSES

Yes, here we have to include the most important expenditure: fuel . Even if you are thinking of buying a sailboat, few expenses associated with the normal operation of your boat are comparable to the fuel (although obviously in the case of a sailboat, fuel costs are lower). This is also the most difficult to estimate because spending can vary greatly from month to month and year to year. The best way to calculate is to estimate the average distance that aims to navigate out , few exits going to do a month and multiply by the ship ‘s fuel consumption at cruising speed.

A good way to minimize fuel consumption is to know what is the most efficient cruising speed of your ship and respect. Most modern ships have a fuel flow meter on the dashboard. You just have to divide the boat speed by eating to know how many miles per gallon does, or how many gallons per mile. Record efficiency at different speeds and then compare them to see how fast your boat is more efficient.

Fuel is not the only operational expenditure to be taken into account. If you intend to sail to distant ports weekend cruise and dock at a marina at night you will have to take into account the cost of mooring. For some boats fuel additives are also regular cost , and others have to count the cost of gas for cooking, heating and boiler.

MAINTENANCE

This is another game that is hard to quantify. The maintenance costs vary depending on the type of ship , its use is given, the care has to navigate, if we are willing to do us some tasks and also depend on chance. All boats are in the water need antifouling paint regularly requiring vararlos and represents an expense. Motors require regular maintenance, including periodic reviews, overhauls and oil changes, and extraordinary maintenance, in case of mechanical breakdowns, for example. Remember that double engines also duplicated expenses. Sailing ships and their propulsion systems have different regular maintenance costs; candles should be replaced after about ten years, in the case of normal navigation, and half or less if you participate in regattas.

The outdoor fabrics and vinyls, such as bimini, awnings and cushions, also have a limited lifespan (five to seven years on average) and have to be replaced at some point. And while equipping the cover can last decades, some elements of the maneuver – as mooring ropes and sheets – need to be replaced on a regular basis.

It should be added even the c OSTS of cleaning products, teak oil, wax and polish . Do not think it’s a fad; these products are expensive and at the end of the season vera is normal to spend more than I expected this.

As a general rule, plan to spend each year 10 percent of the value of boat maintenance . If it does not need that amount and to spare some money at the end of the year, a clever way to use it is to invest in improvements to the boat, which not only make that your boat maintains its look and work better, also help to keep its resale value.

More about boat maintenance .

BUREAUCRACY

Another cost that we must consider if the boat we buy has more than 6 meters, is the cost of mandatory periodic inspections (ITB). The mandatory inspection period is five years but most of the boats have to undergo an intermediate survey between the second and third year following initial recognition or newspaper. An alternative may be: Water Steps: How to Change Flag

OTHER EXPENSES
If you are considering buying a slightly larger boat is probably also thinking about whether you need to hire crew , if only once a year for a vacation, to relax more and enjoy with family and friends what beaches and coasts have to offer. Although I know to rule his ship, recruiting a crew to take care of the daily maintenance a boat requires greater length will allow another tranquility. Obviously this has a considerable cost and must be taken into account. .

Now that you know what the variables to consider it was time to sit down with a paper and pencil (or maybe just an iPad) and make your budget. Do not be surprised if your total represents 20 to 25 percent of the value of the ship – a considerable amount, too – for many of us. But is not good to have him present before closing the purchase?