What is the Cost of Boat Ownership 

Have you ever sold a boat to close to, equal to, or more than you paid for it?

Guys, guys, for anybody who thinks a boat is a money pit, there is somebody else who thinks a bike is a money pit, a vintage car or a horse or a snowmobile is a money pit as well. Bottom line is, you reach that point of no return in your age where you know that if don't do it now, you'll never have another chance to do it. The rule is simple: don't buy something that you cannot afford and cannot handle, period.

One example for me was an unusual situation. I purchased a bow rider from a local military family who had been given orders to Europe and had to sell the boat in two weeks. The price should have been $35-40k, however he was only asking $24k. I just knew there was something bad wrong with the boat. We went for a test drive on the Alabama river and the boat performed flawlessly. Wrote the officer a check and took the boat home. My family enjoyed the boat for 8 years. Literally never had a problem and simply did routine maintenance. Sold the boat for $24k.

I got a very good used Bayliner.... rented it out at our lakehouse.. one year later.. free boat.

I live in a resort community in Wisconsin. To rent a slip is minimum $3500 and goes up to $8000 if you want to be in one of the marinas. Bouy rentals are $1500-1800. Add that into the other costs and now you are at $3200-9200 a year.

If you’re worried you won’t be able to afford a boat you’re probably right.

I do things in life based on enjoyment…not if other people think its affordable. The value in boating is the fun and memories we get from it. Real boaters get that. Its a passion and a lifestyle….wanna invest then go to the stockmarket.

I live in the northwest US. My boat was 180k used, annual moorage is $6,000. Annual maintenance, insurance, repairs, replacements, upgrades and fuel costs average probably $5,000 per year. The value of the boat is probably $150k after 5 years, but there would be a 10% brokerage fee and my state charges a 9.8% asset transfer fee on the sale price. Lets do the math on a sale after five years using your formula: 180k cost+ [(6000x5) + (5,000x5) operating costs]- [(150k - 29,700)net sales price]= net cost is 114,700 spread over 5 years, or $22,940 per year. And for people considering buying a boat it is EASY to spend 200k to 500k or more on a boat. Unless you buy the cheap boat in this video’s example that you keep in your yard under tarp, annoying your neighbors and attracting rodents to live under your boat cover while chewing your wiring throughout winter.

Thank you for a very informative and helpful video

I worked the boating market with two different diesel engine manufacturers. Diesel engines cost more upfront but use less fuel, often have lower insurance rates for the entire boat. Many owners of boats with with large gasoline engines have upgraded to diesel in recent years. I thought the video was excellent, as a rule of thumb boats that operate in salt water require 10-15% of the original cost of the boat in maintenance every year. Boats used for family activities typically have a small item added to the boat every time it is used. It can be additional carpet, more fishing poles or a big upgrade would be addition of a generator. All of this can and is a lot of fun but it is expensive.

Great video!!! Great advice!

i bought a 15ft boat with a running 2 stroke engine. 2 weeks ago, the starbord, port lights are brand new got them for free since they followed with the boat., lantern i got for free, the only thing i paid for was the new paint, ancher, rope, and some boat cleaner, there is no fee to let your boat out at the marina here, i already have first aid kit, and a fire estingusher, i only use it in the lakes here to fish. the boat cost me 1709 pounds including a good trailer. and i have just bought 175 pounds worth of items. so it really depends on person to person, but i really like your opinion it helps people understand that owning a boat is not cheap, and i have a boat saving fund of another 2000 pounds just for emergency if i need new parts or anything. so money wise its planned out, and i love taking my dad and brother out fishing every chance i get, its really worth it the memories i get is priceless. and im the same as you i want my kids to grow up with boats and make a good memory with them, when it comes to fishing and the ocean. in my personal opinion if you have the money and the time i would say buy a boat, you will not regret it, but dont buy a to big of a boat.

It all comes down to how much you enjoy boating. Its not cheap but its not very expensive either. Is it worth it for me and my family? YES! Is it worth it to others? Probably not. I didnt buy a boat for resale value I bought it to enjoy it.

Great video!!

Incredible video, just subscribed.

Let's not forget the cost of a boat trailer and cost of truck to tow the boat. If the boat is left in a marina slip or storage place then that is an additional cost.

Looking at a 1988 searay 34ft sundance-twin 454-a c- generator. Great interior & very clean. Around 1000 hours. Last survey 2020. Only used 5 times on lake Simcoe. Should have another survey. What should I look for on water test. Your comments appreciated

Thank you for this. Can you explain the meaning of 5:50 right after you recommend us to buy in autumn/winter?

In the equation are missing: 1) Marina costs (permanent berth + stopover fees). In the Mediterranean, they can makeup 20K+/year 2) costs of refitting (sails, standing rigging, engine, dingy, outboard, A/C, etc)

Does this apply to live aboard yachts?

The greatest day is when you buy a boat. The second greatest day is when you sell a boat.

The best way to really understand boat ownership is cost per hour of use. That's the only way to really judge whether it's worth it to you. My back of the envelope calculations for a $70k new boat - OTD - with 45 hours/use per year (15 x 3 hour trips out) - is about $200/hour over five years. That includes taxes, insurance, gas, maintenance, and depreciation. Could be more, could be less - but $175-225/hour for time running the motor is a good rule of thumb for a 22' foot new boat today.

Would love to own one for my kids but my God it’s like you can’t afford one unless you make $100,000 a year

When I was 14 I asked my uncle how much his boat cost. He said if you have to ask you can’t afford it

No it stands for “Break Out Another Thousand”

I bought a boat for Australian $15k in 2007 and sold it for $15k in 2012. The only thing I replaced was the toilet and outboard.

I would have hoped for A LOT more detail on maintenance cost, some of which is actual fixed cost, as most engine require an annual (small) service regardless of the hours you put on them, as well as anti-fouling, which is different from winterization. Can anyone tell how much they are paying for maintenance on their modern 200-250hp outboards at 50 engine-hours per year? That is if everything is done by an OEM-certified tech.

Sean! Thank You for providing tremendous value in your videos. I am in the market for a wakeboard boat. Wanted to find out what brands provide the best quality boats. Would you be able to put the brands in order from best quality to worst? Thank You for your help, Max.

i have been servicing boats for over 35 years and been on them since i was a kid in the 70s you had the larger cruisers and the wealthy owned them and you dreamed of owning one . but the average guy that owned one had a 20ft or smaller and that was a big deal then. understand this i have seen people buy boats because of the fun factor. they buy them thinking they can beat them up ,not maintain them, and they go down the water and they should just go and go. wrong they are vessels that have engines like your car but your car has wheels . boats and there engines would be like towing a camper up a hill behind your car and hill never ends.they are put in the harshest environment water,sun,load and you want it to never fail . i have seen the guys that take care of there rigs and run them for decades. i have seen more of the newbies lately think it is this toy they wanted and could not take care of it and bitched about the cost of running it. so its not the boat is the issue.there are people that want it but cant afford it or learn what it takes to keep it going. so dont buy one and bitch when it takes a shit because of a failure or a lack of education it is not the toy for ya. and i work on boats for a living for 35 years people today dont take long trips they sit on them at the dock. a new rig today is 40000 for a little pontoon and that will need service and repair if you beat the shit out of it and then you want to sell it and get your money back that wont happen.

slip costs? shore power? water? any taxes? can you break down maintenance costs? - this video gives no more detail than a brochure.

Owning a yacht is the most stupid and expensive thing of my life , Over the past 2 years it had caused me so much trouble and worry . It almost drive me crazy !

do fishing boats eg Kingfisher 3425 GFX vs a fiberglass cruiser boats

Just paid $9k for a $12k TROPHY 2002 WA in 98329. All safety gear and ready to go into the water (with 50 gallons of fuel) Minus any outboard motor, what is my hull worth in 98% condition, buffed with new decals on the hull?

I don’t like how everyone includes storage as a cost. Many of us own homes where we can park the boats? Also, aren’t boat owners mostly home owners? Why can’t you just bring the boat home afterward and save the cash? I know it means more work but if it’s $500 a month to store a boat, it’s a no brainer.. park it at home and cover it.

We always said "bust out another thousand"....

Like some of your vids. This one confused me. Mist have missed something. The math on your example did not come out as shown. $16385+$1950=$18335 $18335-$15475=$2860 $2860/3=$953.33

Minimum 5% depreciation per year, 1K in storage, $500 in fuel, $400 insurance, $600 winterization/summerization, $500 other repairs/updates, $800 gas, $2000 marine slip....your talking 3k/year MINIMUM no exceptions, but can go up to 6-7k easy

Is a 1994 Donzi sweet 16 a good first boat ? I’m looking to use it half the time n rent it out the other half . I live in Hawaii . Thank you

Owning a boat is expensive. Have a good friend who’ll let you borrow his.

Left out trailer maintenance

Does anyone have any specific brands of boats that hold their value or, better yet, appreciate in value?

Only in the US it’s this expensive

Bust Out Another Thousand...

Just rent it out a few days a month

Watch it at 0.25x

Don't be fooled. Boats have *horrendous* depreciation. Boats depreciate worse than cars -- and cars are a terrible purchase, from a financial point-of-view. Anything with an engine is a bad "investment," which is precisely why businesses are given such generous depreciation tax writeoffs. And at the top of the depreciation curve are boats and airplanes.

A in that are is it

Some of these videos are stupid. We want to know about how much the docks charge. How much are insurance fees gasoline. Your talking half the video of the price of the boat. I already know that there's expensive boats and cheaper boats.

Do not own a boat unless you can afford 10 times it's worth. Boats are NOT an asset. Boats are a money pit.

Another ten thousand

this video is not helpful

This guy talks 0.5x speed too slow

I like this guy.. what's your Instagram buddy?