Nothing beats being out on the water on a summer day. As the wind whistles through your hair and the sea spray on your face, you feel truly alive. It’s a sensation that thousands of people crave.
For many, this vision is just a fantasy. It’s something people imagine to get through a tough workday.
Others, though, are a little more determined. They know that buying a boat is something they want, not just imagine wanting.
If you’re one of those people, you probably have one nagging question: “How much does it cost to buy a boat?” If so, you’re in luck!
We’ll explore the costs of owning a boat in the guide below. Read on to find the information you need!
How Much Does It Cost to Buy a Boat?
We wish we could give you a concise answer to this question. Unfortunately, as with many other cost questions, the answer depends.
Several factors affect the final price of a boat, including:
- Boat brand
- Size and style
- Location
- Extra features like boat seats and cabin furnishings
For example, a new pontoon boat may cost between $20,000-$30,000. A motorboat with no cabin may run for $20,000. Sailboats, however, could cost anywhere from $50,000-$100,000+.
Several types of boats could fit your budget. Shop around online to get an idea of what you could afford.
Additional Costs of Owning a Boat
Buying a boat isn’t the only expense to consider in boat ownership. Several other factors play a role in determining your boat expenses. We’ll explore a few of these in the following sections.
Annual Mooring Fees
Once you own a boat, you have to put it somewhere. For many people, that “somewhere” is a dock or harbor space. If you live near the water, you can probably find a local marina that stores boats.
So, how much will a marina charge to keep your boat each month? Depending on your vessel’s size and the marina’s rates, you could pay just a few hundred dollars monthly. Sometimes, though, you may need to spend more than $1,000 on boat storage.
Using a Boat Trailer
If you live further away from water bodies, you may keep your boat at home. In this case, you’ll need a way to transport the boat from your house to your waterside destination.
A trailer is an excellent option if you have a smaller boat, such as a motorboat. These are significantly cheaper than marinas.
The average boat trailer costs between $2,000-$5,000. These attachments last for several years, making them much more cost-effective.
However, hitching a trailer to your truck and driving for hours is less convenient than storing the boat in a marina. You may have to choose between convenience and affordability in this situation.
Start Planning for Your Boat Purchase
We hope this gave you some insight into “How much does it cost to buy a boat.” With the right financial planning, you can turn your dream of boat ownership into a reality. So, start compiling a budget today!
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