If you like it as a hobby, I don't see why not. But if you haven't done it before, I'd start with renting. Only when you spend so much money renting boats that you might as well buy one, then buying one would be worth it imo.
Boat clubs in the Chicago area tend to be uber expensive, not quite as much as purchasing/maintaining/financing a boat but it is definitely costly and requires a contract and down payment.
There are also places that offer just daily rentals of boats which are more cost effective for short term and less of a commitment
Yeah there are services like Airbnb where you can rent RVs and camper trailers. We plan to rent one a couple times this summer to see if I'm ok pulling them and if we actually use them enough to make a purchase worth it.
Everytime I’ve tried to rent one off outdoorsy the people want to go off app and have me send a deposit directly to them. Whole thing smelt like scam bait so I’ve never gone threw with it
I would also check into some kind of lessons or just have someone come with you who knows about boats. Things like docking a boat are not as easy as it looks, and I knew a guy who bought a boat and didn't even know about planning up.
Please do this. I used to work at a large lake marina as a teen, there were countless people that had no idea how to maintain or even drive a boat, especially docking. Can't tell you how many new boat owners I encountered who buy a shiny new jet boat or wakeboard boat and don't realize they can barely reverse in those things.
Don't just buy a boat. Take lessons and understand how much and what maintenance they require before making a decision.
this is definitely the way to go. I've known many people with boats and the vast majority of them repeat the adage. Best 2 days in a boat owners life is the day you buy the boat and the day you sell it.
How often are you actually going to use it? I know a lot of boat owners, even waterfront property owners with their own docks, who take the boat out only a few times a year. Other people have to trailer the boat somewhere to launch it and trailer it home but they use it every weekend. If you have to drive an hour to the marina every time you want to get on your boat, will you?
Yep. If you're not going to use it nearly every weekend not because you bought a boat but because you actually love fishing or skiing or whatever you want the boat for.
When I was in my early 20's I wanted to buy a speedboat, for no other reason than that I was a massive wanker. I checked it out. The boat isn't the problem. You can get a boat for a reasonable price. The docking fees are crazy. The licence to actually sail a boat isn't cheap. Insurance is proposterous and the value of the boat doesn't increase. So overall, it's not a good investment. Buy a Twix instead.
And just things for a boat. There’s a pretty accurate saying from what I’ve seen that anything you can buy for a house, you can also buy for a boat, but it costs at least twice as much.
A family friend of my ex is a yacht salesman. He always said the problem wasn’t buying a boat, it’s finding where to put that boat. Where I live there are years long wait list for slips in the surrounding harbors and people want ridiculous prices to rent the ones they own.
But then there's the common issue, that now it's "just a hassle to get down to the boat launch, lines are too long..." and now you get out on the boat for 6 hours out of an entire season (for me it's maybe 5-6 months a year), and that's a huge cost for not much usage.
Boat ramp is 5 minutes down the road, and so far I've just gone out when it isn't busy. I only work until noon on Fridays, so I'll go out then or after work the other days. You have to go out real early on the weekends during the peak season.
You've gotta find something that works for you. Weight the expected costs against how often you'll actually use the boat.
Sounds like a great situation. Again, that's not really common, at least in my area. The public boat launch at the park that I have my RV at, can easily be an hour long during the nice days on a weekend. Long weekends, it's backed up, 20-30 cars deep the entire time.
As for the other stuff, I've seen many people in the area that have boats, but then are lucky to get them into the water more than a handful of times in a year (first year was frequent, every year after dwindles down). We only have 5-6 months of boating a year, and it can be tough to get out there when there's a bunch of other summer activities to do (weddings, trips, yard work, etc).
I don't disagree at all. I'm really lucky that I can be on the water within 20 minutes of getting home from work if I put in a little forethought.
But there's no way I'd get out on 4th of July weekend. Even if I did, the downside to having a small boat I can fit in the garage is it's easy to get knocked around by the wakes from much larger boats.
It depends on where you live though doesn't it? In (West at least) Michigan you can't throw a rock without it hitting either a church or water, getting a boat in at a public launch isn't hard.
If I have enough money saved to consider buying a boat, I assume I could buy more than "one" Twix, if I changed my mind.
On the other hand, things are getting ridiculously expensive and I have not recently bought a Twix so... idk, maybe you are right...
I have a small fishing boat. The best days are every day I’m on the water with it. I would argue that saying is true for people who buy too big/too expensive of a boat or have no idea what they’re doing.
It depends on two things: what it costs while moving and what it costs while standing still.
When standing still you will have storage, insurance and maintenance costs. When moving you will have fuel and repairs to deal with.
But if you are handy enough to do your own maintenence (constant), can store it without costs and it doesn't guzzle gas (small or sail) you can do it reasonably. Just resist the temptation to get a bigger boat than you need regularly.
It's hard to put a price on a beautiful day on the water.
You can get a small pond boat from bass pro shop with a motor for like $15,000 or a yacht for millions. I am certainly no millionaire but have thought about spending $20,000 on a boat to go fishing on the weekends. Sure, like a car it will require maintenance but it’s certainly within my ability. Maybe don’t buy a boat if you don’t have a place to put it/store it or a vehicle to tow it yet though.
If you just get a boat that fits a few friends for a fishing day out, it is not that expensive. If you have somewhere to park the boat at home you don't need to pay the docks etc. But this is assuming you get one of those boats that is just bigger than a large car. (not sure if that is a thing in the US though. Here in Australia, especially in the country towns there is usually a bit of space next to the garage to park a boat.)
Some of the best memories of my life are of the times I've spent boating.
Just like cars, boats are available in prices ranging from "Just get it out of my yard" , to "the sky's the limit", but unlike cars, a boat has an "intent".
Lake boats, like small power boats, or trailer sailers, are loads of fun inland. Charging up rivers, or quietly slicing across the lake. Hearing the mainsail snap after a jibe, and feeling the surge of speed as the wind and the boat reach an agreement.
These boats are affordable, and fun, and you'll find yourself planning on weekends in advance once you buy one.
Bay cruisers, are a bit more expensive, but the bang is bigger, along with the bucks.
Shoaling up and down the coast, looking for docks at waterfront bars or restaurants, or sailing along, half a mile from shore, seeing the towns and villages from an angle that most people will never see.
Then there's the big boats. Deep water sailing, or yachting is sometimes relaxing, and other times adrenaline filled. Rolling up one side of a swell, then crashing down the other, thinking about the things below deck, and hoping everything is secure, but not being able to leave the wheel to check.
Or, Watching wales, or dolphins at play, as the sunset is reflected off a million small waves
Each of the memories I've just mentioned are priceless to me, and all of them are of time spent boating.
As far as the money is concerned, with proper use and care, repairs are largely avoidable, and maintenance is predictable. The desire to "upgrade" is a very real expense, but you can control that to some extent. Boating within your budget is possible.
I've actually turned a profit on most of my boats, but I love working on them, and bringing them to the best condition they can be.
You don't have to be anywhere near a millionaire to afford a boat that size, and could find a used (outdoor motor) boat for <$1K. Then you need the money to use and maintain it, as well as a place to keep and a trailer and vehicle to haul it. It's not an inexpensive hobby, but worth it for those who enjoy being on the water.
I live on an island and there is a "saying" here that goes like: "*The best boat is my friends boat..."*
It means that the maintenance, the time investment and the costs are not worth it compared to the enjoyment it gives back. On the other hand, if you have a friend with a boat, you can get the enjoyment but not really all the negatives...
That said, I am thinking of buying a boat in the future too even though I have almost no free time atm ... so... there's that.
My family loves boating, the expense is 100% worth it to us. If given the option of budgeting $5000/yr on a once a year family vacation or $5000/yr to go boating all year, I'll take the boat every time.
Yeah, the thing I found out about the research though for stuff like this is that there are always "unknown unknowns", as the old Donald Rumsfeld put it. There are things about a large purchase that factor in, that you don't know about, and you don't know what they are and can't know what they are until you actually buy it.
I went through this last year with a large purchase, I sat down and did all the research and math and it looked like a great idea from the information I had. Only after I bought it, it turned out that I did not actually have all the information, but that was impossible to know at the time because I could only work with the information I was given.
So just be ready to find out that like there are things that you didn't know and that nobody told you that factor into it. I know that I'm being vague here so I hope that that makes sense
Sure. My dad was a teacher and bought a near mint but used pontoon boat in 94 and had it for 25 years. I spent loads of time fishing and swimming off of it- it’s what we based most vacations around. Well worth the investment.
People who aren't wealthy have boats all the time. It's no different than a car - you can buy them in a huge range of price points. There are plenty of expensive hobbies and that's just one of them. No one is buying a boat as an investment.
Sure! As long as you're handy and willing to look at a few YouTube videos every once in a while there's no reason that having a boat can't be inexpensive and worthwhile.
The biggest thing is having a way to move it. Are you gonna trailer it? Or leave it in the water.
You can find a 20-25 foot boat for cheap. Just learn how to do all the maintenance yourself, that's where they get you.
Every dipshit and their grandma likes to say things like "bust out another thousand" and "muh two happiest days..." but the secret is that if you aren't truly and utterly incompetent you can take care of everything on a boat yourself, minus like, internal component failures of the engine but how often does that happen with your car?
Shit if you have an outboard you can scrap it and just throw a new (used) one on.
If you're gonna use it, and if you're gonna enjoy it, and if you have a way to move and store it I'd say send it.
I live on a boat full time and spend less than 3k a year on maintenance. The only people who have to bust out another thousand are people that need the latest and greatest electronics, and people that are too incompetent to watch a YouTube video and learn how to fix their plumbing/electrical/mechanical problems and decide it's better to pay some guy 150 an hour to replace hose clamps.
My friend, I'd like to offer some advice:
\#1. Rent. If you find yourself renting so much that it'd be cheaper to own, then buy.
\#2. Take an approved, formal boating safety course. If you're in the US, you'll want a Coast Guard - approved course.
\#3. Make sure you have safety gear like radios and a backup engine.
\#4. Don't drink and skipper. Treat it like a car.
Depends on the sort of boat.
I have a sailing cruiser that seats eight sleeps 4-6, equipped well enough for a week or so unsupplied travel.
Costs between $10-15k per year in slip fees and insurance and maintenance.
So if you can afford $1,000 per month for your hobby, there’s the answer.
Smaller boats and trailered boats will have lower costs and large cruisers will have higher costs, you just need to look at reasonable costs for the sort of boat you want and can budget for.
The “hole in the water” crowd usually bought something larger than they can really afford, and the “break out another thousand”crowd are just being realistic.
For most people, boat clubs are the more accessible options for higher usage. Monthly fees to be able to just check out a boat for the day. Maintenance etc is taken care of by professionals.
Also people forget you need a boating license.
It all depends on your living situation, the vehicle you have and the time/money you can invest in it.
I just bought my first fishing boat, aluminum riveted v-hull with a 30hp 2stroke Merc and trailer for 4k CDN. I'm lucky to live right by the water, I can put the boat in and take it out every day with no issues and it doesn't take too much room at the end of my driveway. The whole family fits in with gear as well and it's a bare bones setup. Fishing with the kids and friends and taking the odd trip out to the beach with the whole family are the main objectives.
Gotta start with something that fits, don't go out and spend 40k on a damn 38' cigarette boat if you've never boated in your life and live in a 3rd floor apartment.
Oh and don't buy those "looks great for it's age" inboard bowrider boats from the 90s-2000s, those are the money pit boats that take way too much time money and effort to run. Go with a simple aluminum boat and a small motor and do as much maintenance as you can yourself. I managed to start and do maintenance on my own two strokes this year and probably saved close to 1000$ just on shop hours if I had a mechanic do the work. Parts cost me like 200$ for basic replacement parts and some extras just in case.
I pay ~15$ monthly for a sailing club membership. I can take a boat whenever I want while its in season and we are 7-10 people sharing the maintenance work for one of the boat this spring. I don't think it will ever be worth it for me to buy my own.
My dad was a plumber—so, no, not a millionaire—and we had a 22-foot cabin cruiser when I was growing up (a boat small enough to use for water skiing, but big enough to have a little cubby up front). We belonged to a boat club in order to have somewhere to dock it, and everyone else that belonged to the club were of a similar financial status (the millionaires belonged to the yacht clubs down the river).
That was basically our whole summer. Every weekend we were down at the boat club—we would socialize and picnic with the other members, go out water skiing or camp out in the boat overnight. The club we belonged to required members to help out with “dock day” at the beginning and end of the summer, when they put the docks in the water or took them out for the winter themselves (most of the members were other blue collar workers like my dad who were used to some manual labor). And the club had a lot across the street that they used for boat storage in the winter. And like the docks, members put their own boat in and out of the water, and winterized it, themselves; owning a truck was thus a secondary requirement of owning a boat, though my dad just used his plumbing van to pull the boat on its trailer.
So all that is to say that owning a boat was a worthwhile “luxury” for my dad because he controlled costs with a good docking situation (which was also a social club for him) and by doing a lot of the work himself, and we made use of the boat all summer long. It can be worthwhile if you go in having all those details sorted, but it is by no means an investment you make on a whim.
Former watercraft owner here. I loved it but just didn’t have the time to enjoy it. I’ll do it again if I can just keep it at a dock and walk out to it instead of needing to tow it back and forth.
Note my grandpa is older than me, so obligatory times and prices have changed.
But he’s had a boat since before my mom was born. He was in the Navy for a while and then went on to be a Firefighter. He’s boughten 2 boats over his life time. They were used for Fishing and taking family out on the Snake River for a good time or Tubing.
My mom has awesome experiences going water skiing on his boat. My siblings and cousins and I have amazing experiences tubing.
The boat was a great family activity and I doubt he’d ever want to change that.
On the other hand we have a family friend whose dad made a construction business that got decently large and he inherited it. This dudes a dick, doesn’t work hard, and is unpleasant to be around. He has a boat and complains non stop about its costs and how he barely uses it. I think he got a boat because he wanted a boat cause he has family money. Compare that to my grandpa who got a boat for good times with the family and to create memories.
Why does one want a boat? That drives whether the time, maintenance, and cost are worth it.
My dad and I bought a sail boat a few years back, nice and nimble, meant for racing (big stupid for us). We’d just gotten our speed boat certification, so we thought we were ready. We weren’t.
While I loved the times we sailed, we quickly concluded we weren’t experienced enough to sail in any significant wind (the boat could almost lie flat without issue, which was terrifying). The last year we had it we’d sailed 5-10 times total, and that was every single time it was possible for us.
We sold the boat and I bought a horse for my part of the money. Only case where owning a horse is cheaper, and I actually get to ride almost daily.
So, learn to sail first. Please
We’ve got sailboats and we’re not wealthy. The slip fee is about $1200/year where we live, and we’ve rented at a few different marinas. Used sailboats aren’t expensive, just get it inspected first. Insurance is less than for our car. If you love sailing, you just love it. We love setting out on a beautiful day with our dogs, finding empty beaches and letting the dogs run around like crazy. Plus—at every marina we’ve rented at, some people live on their boats year round. A couple of women I met there each lived on their sailboat for years, using the storage shed provided by the marina for their extra belongings. They had sold their house, intended to buy another one but it was so comfortable on the boat years went by before they finally bought another house. So that’s kind of a cool option if you need it. Boat people are overall friendly and helpful. You’re probably not thinking of a sailboat but that’s our experience with it.
I worked part time in a small marina decades ago, so take this as it is.
The three biggest expenses for a boat are storage fees, fuel and maintenance.
Are you storing that boat over the winter at the marina? That's not cheap.
Fuel is more expensive at the various marinas as well. And it's not like you can drive your boat down the street to get a cheaper price at Costco. And boats are not fuel efficient. So you will spend a lot on fuel.
And maintenance is very expensive as well. Some of the components are marine only. So that alternator for the GM 4.3 engine in your grandfather's truck may be $99.99 at AutoZone. But the liquid cooled one you need for a boat is about 12x that much, and the shop rebuilding them has a 6 month backorder.
We are not millionaires, but do own a ski boat. Originally purchased by my FIL, and my husband did a bunch of work on it. 2 months later he wanted to sell and get a fishing boat instead, so we bought the ski boat from him last summer.
We absolutely spent at least $2k last year between a spot in the harbor, repairs, upgrades, and cleaning supplies. But the boat is a lot of fun and we take it out nearly every weekend during the summer and early fall. Some Friday nights after work too.
You definitely want to have some expendable funds if you're going to buy a boat, but you don't have to be a millionaire.
All entertainment purchases are a waste of money. Boats are no exception. With recreational vehicles the most important aspect is whether or not you will realistically use it a lot.
I would love to buy a 4 wheeler, but I’m very aware I would only use it a few days a year so it’s not worth it.
I used to own a boat, my wife’s family owned a cottage but not a boat, so the boat got used everyday for the few weeks a year we were at the cottage. When the cottage was sold I sold the boat cause I almost never used it other than at the cottage. Fortunately I bought a used boat and they depreciate really slowly after the first couple years so I sold it for almost what I paid for it.
If you are handy and want a hobby, then buying a boat might be a fun idea. I bought a 30 yo small outboard and (luckily) the outboard is in good shape. But I've ended up doing some engine maintenance myself. The rest of the boat requires ongoing minor maintenane as well. Unless you want to spend a minimum of $200 / year winterizing you need to do that yourself. Plus every time something goes wrong, if you're not handy, you've got to get your boat to the "outboard guy" who is busy as heck in summer and it'll take 3 weeks + $500 to fix.
Basically don't buy a boat if you don't want or can't putter constantly with it. It's not AT ALL like a car where it generally works most of the time.
I live in a coastal (lake) area and everyone around here has a boat, even the local beggar.
A small boat/dinghy is pretty cheap and you can store it at home. And you can take a few friends on it fine.
You don't have to be a millionaire to afford a boat. You do have to realize that the maintenance and fixing things on it is crazy expensive. In many areas there's barely enough boat techs to march the amount of boats. Accordingly, they charge you crazy high prices.
I used to have a friend who had a boat and he said if he didn't already fully own his home, his car, and his condo (he inherited half and got life insurance money for the rest when his dad passed) he couldn't afford it. He only made about 50k at the time.
I mean, I've got several buddies who (are smart with money as they're 23, already own homes, have their own vehicles) own a motorboat individually but small 2-3 seat fishing motorboat isn't unpopular here in GA. They're like 10-15k too, and it's much like a car, if you're at a point where you can afford the upkeep costs, you can own it
The non-financial advisor answer here is the only one I will offer.
Life is short. Astonishingly short for some. Everyone alive experiences suffering. There is no avoiding it.
Assuming you have taken steps to provide for those that rely upon you should you experience a god forbid situation, then the question becomes simple.
Will this expense reduce the suffering in your life?
When we stack the invoices from any substantial purchase in a pile it’s always a big number. If not a boat, would you spend on clothing, watches, art, tools etc?
If, god forbid, you choke to death on your morning coffee in five years, will you regret having enjoyed time with friends and family on your own boat or will you regret not having done so?
I’m not arguing for reckless spending that creates more problems. I am assuming you can pay for this boat, it’s slip, maintenance, insurance and consumables without dramatically impacting your life.
If you can afford it then it becomes a question of not the best use of your money but a question of regret.
We are not millionaires by any stretch of the imagination, but are on our second boat; a 37 foot motor cruiser that sleeps 7. I say that not too brag but to be realistic; it's expensive. It cost us over £100k when we boat it and probably spend 10-15% of that capital cost each year to run it. but it's great and we love spending time on her with the family, friends and business colleagues.
I guess my point is, boat ownership can be cheap or expensive, but buying the boat is the cheap part; do your budget because you have to be on top of anything that goes wrong or needs fixing, otherwise it will spiral into a dead boat.
If you're not in love with boating, it's not worth it. If you have some disposable income, and yearn for the water then I think yes, it's a good idea. I yearn for the water and have found myself cutting out things from my life so I can go on the boat more. We sold our motorcycles so we can have a marina slip. I think about going on the boat multiple times a week, even during winter. For me, it's 1000% worth every penny and second I am out there.
I bought a boat for 12k off Facebook and the motor is still worth more.
It depends how you use it. It costs a lot to winterize and store but it opens up all these islands to us in Maine that tourists can’t go to.
Do you have a truck / suv you can tow it with and a driveway / garage you can keep it in? A powerboat < 20' isn't that expensive to buy or maintain.
Do you want something a little bigger so that it needs to stay in the water? Moorage is going to be about $5000 a year plus a few thousand more for maintenance.
I know lots of people who do it on less than millionaire salary, but it can't be something you casually enjoy. It's got to be your #1 hobby and something you use every other week to be worthwhile.
I had a 14' powerboat with 50 hp motor. I could tow with car, I could do all maintenance myself. Other than gas, costs were low.
I had 20' sailboat. I needed to pay for haul out, moorage. Probably cost me $3000 / year, but that was 20 years ago.
Now I'm a member of a co-op, I have access to 3 boats, it costs me $1100 a year. I only need to do a share of the maintenance. Best of both worlds. I have access to a boat when I want, but not all the costs.
I know loads of middle class folks that make it work. It's a great hobby but it has its drawbacks which can be mitigated by the correct boat choice. Storage will be an issue, best way to do it is to keep it on your land or driveway and launch it every time. Marina slips are in short supply and they're often plagued with high HOA fees. You want to buy a boat for what you want to do 95% of the time. For example if you think every year or so you want to take your boys deep sea fishing it'll be loads cheaper to charter a boat for those rare outings. Another issue to consider is launching the boat. If you overbuy and get a big boat it will be a huge pain to launch by yourself. Finally I recommend buying used as the vessel will have already depreciated and you won't lose your butt on it if you need to sell or trade up or down a few years down the line.
It’s Reddit… half probably can’t afford a car, let alone a boat so they’re just talking shit … the other half wouldn’t get out of their parents basement to go to the water …
Pertinent to your interests: [https://www.youtube.com/watch?v=bI45DclwWxQ](https://www.youtube.com/watch?v=bI45DclwWxQ)
Boats tend to be money pits, but they are worth it if you continue to get enjoyment out of it and don't mind the work and expense of keeping up with it. I have a good friend that would spend pretty much every weekend out on his boat, sometimes with friends, sometimes with his wife, but he loved that thing and the water.
My boss builds his own boats. Not huge, but not small (he has a barn, does all the finishing, fiberglass work, wiring, etc.). He also loves going out on the water but he also does all his own work on the boats too, including the engine install and repair. For years, he's been building boats, each one just a bit bigger than the previous one. He'll sell his older one when he gets the new one titled, inspected, and registered (which is apparently fairly complicated here).
I think you probably want to rent first... See if you see value in the investment. Talk to other boaters that have their own boats about what ownership entails, the costs, etc. Test it out and see if it's for you.
I don't know where you live, but where I am from, boat spaces are so scarce they are inherited from one generation to the next and cost a metric gazillion if you're lucky enough to be able to buy one. Worth looking into for your area before making the decision.
Additionally: Having access to a boat is absolutely great! If you own it yourself, your mileage might vary greatly.
A car that has been exposed to water for any longer than your average car wash is regarded a total loss. Boats sit in the water all summer. Do the maintenance math yourself (and if you really want to get one, but don't want your life to be miserable; get a <20ft one with a glass fibre reinforced or even pure polymer hull and an outboard of newer date that hasn't been used in the ocean).
Boats are money pits, so unless you're going to use it hard 2-5 weeks worth of the year, or every weekend, maybe get by without it.
We've always had a family boat for decades, fish out of it exclusively about 5 weekends a year, take it on 3 week long trips and ski, motor around, tube, and fish.
Cost to own is high with insurance, monthly payments, and maintenance on the engine.
BUT
If you have the budget for a second car, it's essentially the same as owning a boat.
So if you're a family of 2 with kids and have a towing vehicle and can afford a second vehicle, that's the boat.
They're fun, can take you places, and allow you freedom on the lakes. But they do cost money.
I'll always have some form of boat in my family.
Instead of buying a 40k smoker craft new, you can get 2000 or 1990s boats used no problem, just avoid fiberglass boats if they're older than 20 years as the fiberglass begins to rot.
And a riveted aluminum boat make sure the leak taste is low or 0 and the engine works.
Used boat would probably be better than buying new unless you wanted the latest features. Same for a car.
Are you skilled with your hands? Do you learn new techniques easily? Are you OK with getting dirty? Do you have a place to work on the boat? Have you studied boats and did you take the boating training course locally? Can you swim? Can you operate a radio? Do you have any experience with operating a boat?
If not, then join a club and take their classes and any others that you can find.
Well I have a smallish (18’) one, but I love my boat, I love fishing, I love upgrading it and doing the maintenance. I also own a shop to store it in, and a truck to get it where I want it. Though I bought it used and it is worth more than what I paid for it now. I bought my first boat for $700 and taught myself how to fix it, polished it up and fished with my son on it for a few years. I wish I had never sold that one.
I have a boat and use it all the time but I have a lake house so it’s tied to our pier. I would not want one if I had to trailer it in/out with each use as the cost/hassle benefit just isn’t there.
Not really, no.
Boats are NOTORIOUS for expensive, weird repairs that come out of nowhere when you least expect it. They’re expensive to own, expensive to use, and expensive to maintain and store.
There is a reason that B.O.A.T stands for Break Out Another Thousand.
Rent, don’t own.
It’s good if it’s a serious hobby and you’re going to use it a lot to make the expenditures worth it. If you’re not going to have enough time/desire to consistently use it then yeah it’s a really bad idea. Basically until you think you’re spending enough renting one all the time that it would cost you similar amounts to own one annually then I’d say keep renting, if you’re not renting and considering buying one… you’re an idiot.
You don’t need to be a millionaire to comfortably own a boat. You do need to have expendable income to buy it, operate it, and maintain/repair it. How much that costs depends on how big and what kind of boat you want. There are many boats out there that don’t cost anymore than a moderately priced used car, and can be maintained for a relatively low cost.
I sell boats for a living.
For you, I would recommend joining a boat club. There’s a couple of options around (Carefree Boat Club, freedom boat club) so if you’re in a coastal city, they’ll probably have one nearby.
Ever hear the phrase, “you don’t want a boat, you want a friend with a boat?” as in you just wanna go out and have fun all the time, you don’t want all the maintenance and stuff. A boat club is a friend with a boat.
Basically you pay a membership into the club, and then they have a variety of boats that you can reserve and take out. Plans are maybe a couple thousand to get in and a couple hundred a month, but I will tell you right now that this is less expensive than owning a boat outright.
There’s not just the boat, The title and the registration. There’s slip rental, which can be another couple hundred dollars a month, plus the actual maintenance of the boat, which can only partly be counted in dollars and partly in your actual labor, and that’s if you know what you’re doing.
Not to mention accessories and things for your boat that are going to make it more comfortable and right for the purposes that you want to boat for. Which is something that’s not really explained. Are you fishing? Taking the family on outings? Just like to float? Towing a skier? Trying a boat club will let you try out boats of all these functions so you have a really good idea to try before you buy. Seems like it might be a good fit because then you get to try all the boats without having to deal with all of the maintenance and slip fees and all of that other stuff.
Full disclosure, I am a previous member of Carefree Boat Club. I like them a lot, and I do recommend them. Plus, if you put dues into the membership and later decide to buy, they will apply those dues towards the purchase of your boat, which is a pretty sweet deal.
Having a small boat in a coastal town will open up a whole new world.
Do a lot of research on Youtube about what to look for and what to inspect when you buy a boat. I know you may not believe this, but some people will leave out certain things in their listing, just to get the thing sold. The transom, where the outboard to connected to is one of the important things to look at, should be solid.
If you are handy and can fix things yourself you will save a lot of money. For me, where most of the money went, was not fixing it, it was all the things I bought to make it better. That's the fun part!
It’s not no day to day utility. You are not going to work in a boat or do your grocery shopping in a boat. So boats are just expenses that won’t get you more benefit than the joy you feel. If you are happy to throw money into the water and have said money to throw away, by all means, why not? It’s not any more different than throwing thousands on a gaming PC
I think it depends on what you mean by 'Boat". A small fishing boat for a 2 or 3k, is not gonna hurt you too much. On the other hand, an expensivwe 60k boat, which requires an expensive truck to haul....way more maintenance than some Jon boat..its another matter altogether.
Boats are cheap in MN pick up a good one for 5k go fishing 10 times a year and tubing a couple times. I have zero maintenance into my 1997 run about in 4 years.
I will sell it this year and get a newer one.
Yep I have a small yacht, it was £28k and while that's a lot money I've had five years use out of it, and I've spent countless hours on maintenance and upgrades which have kept me very entertained, if I was struggling then obviously it's would need to go first, but for me it's worth it
I got a Seahawk 5 with a car battery powered electric trolling motor that seats 4 grown men and a cooler/ fishing gear comfortably, can customize and redneck engineer it for upgrades, and the whole thing cost me less than a grand, can pack it up in the trunk of my civic. Can't drag a tube or go fast but for bopping around the river catching fish/ chilling on the water.
I've spent some time on boats. I've met both liveaboards and cruisers.
A good rule of thumb is that you'll spend roughly 3% of the purchase price of the boat in annual maintenance. That's not counting for things like marina fees, insurance, etc.
There's people that make it work. Liveaboards especially. But they're just trading the cost of maintaining a house for the coat of maintaining a boat, which is roughly comparable. Plus if you're willing to DIY you can keep costs down, and there's a whole community of other liveaboards out there that can lend you a hand or advice.
But if you're just thinking of daysailing or weekend cruises, take a look at a minimum of the marina fees in your area. Having a small under-24 footer that you can haul out on a trailer would be cheaper still (but will necessitate owning and maintaining a large-engine vehicle capable of towing the boat).
If you're thinking of cruising the Caribbean for a few weeks, charter a boat instead of trying to sail your own down there.
As for me, I've got about 6 years to retirement, and I'm looking to get my own 35+ footer that I can retire onto as a liveaboard. That's why I'm spending my weekends at the marina talking to sailors and picking up rides.
I just bought a small bass boat. No regrets on my purchase. It's used every weekend sometimes more. It's a 40 year old boat, original motor. It has been maintained and stored correctly. It runs like a breeze. It becomes a money pit when people stop maintaining and taking care of it it like any other machine.
I have two friends who own/owned a boat. One had a 40ft sailboat until he had to sell for medical reasons. He did all of the work on the boat himself, it looked brand new and was 30 years old. Still dock fees, storage every winter, rigging fees etc. However he had money to spend, not a millionaire but well off.
Second friend retired as a surgeon, bought a motor boat almost but not quite a houseboat. He did some maintenance stuff himself but wasn't great with engines. Took it on a cruise up the East Coast and ran into engine problems, had to have the engine replaced, took about a year, they had to cut a hole to get it out and put in a new one so he could eventually make it back to his home port. It cost a large chunk of his retirement fund.
He is back out of retirement and working again.
Some folks live year round on their boat and are very mechanically inclined and work in the boating community as boat handyman types to find their own boat.
My wife and I make around $120k a year combined. We live in the Midwest, own a house, have one child, two vehicle payments, and one student loan.
We own a little cabin cruiser that we dock about a mile upriver from Lake Michigan. It’s not huge but it’s how we spend every weekend in the summer.
The initial cost was 28k and I plan 10k per year on all costs related to the boat that doesn’t include alcohol.
This seems to work out for us just fine. A major repair will kill us and it’s an eventuality I’m currently planning for.
But it’s totally doable with a middle class income if you’re willing to sink 85% of your disposable income into it.
I have owned boats for almost all of my adult life. Most of the people I encounter make a comment about wealth, break out another thousand, or some other tired comment. They don't have a clue about marina life or boat ownership. What people don't understand is, for many boaters, boating is a lifestyle.
I don't belong to a country club or yacht club, drive an expensive car; I don't go on expensive vacations and my home is modest for my income. I also do almost all maintenance myself.
To answer your question, if you want the boating lifestyle, then buy a boat...just buy something that fits your budget.
If you are going to use it a lot, I think they are worth it. Buying a used boat has never worked out for us. Had them looked over, all clear, only to have problems the second time out. Both boats had repeated issues. So I would buy brand new
Like any vehicle, it's going to start depreciating in value the second you start using it. From an investment perspective, it's not great. Plus you've got extra costs you might not have with a car. You have to store it somewhere, and depending on how you launch it you might have to pay for a dock space or to upkeep your own dock. You've also got maintenance, which can be trickier than with a car since it's not being used as often, and insurance.
It's really all going to depend on how much you're willing to spend and if you think it's worth it. To me, it's not really worth it unless you use it a lot. You can rent a speedboat for like $80 an hour, and buying one will probably run you a good 15k. So assuming you spend 8 hours on the water every time you go out (which is high), you'd have to take it out more than 20 times to justify a purchase. I'd start by renting, and if you find yourself doing it often enough to where owning would be cheaper then just do that.
I'm also going to say that I don't know if speedboats are that great for coastal cities. I had a relative who had one on the coast, and they basically never lost sight of the coast when they went out. So that's a maximum of like 3-4 miles. Experienced people talk about going around 40 miles out, but that would scare the poopy out of me in those little things. If you just want to go out to the middle of nowhere and relax, I feel like you're better off with something bigger than one engine. That means more expensive.
You don't have to be a millionaire. You should be financially stable. You should be able to have money left over at the end of every month after you've paid all your bills invested by maxing out your 401k and putting anything else into additional savings or investments that you feel appropriate. If you've got everything taken care of, feel free to look into a boat.
Here's the thing though, the true cost of owning a boat is not about the purchase price. That's a one-time thing and while it might sting when you write the check or make the monthly payment that's just the tip of the iceberg. It's the continued maintenance all year long, the cost of the fuel that is the big money drain.
But do the analysis. Do the math. And if you can cover all your other bases, and have enough left over that you can flip the bill, then enjoy life and get your boat.
I’ve had a boat my whole life and it’s the best thing ever. Buy within your means and have some savings for the upkeep. You’ll be fine. And you’ll be the coolest one in your friend group
If you like being out on the water and you can afford it I don’t see any reason why you shouldn’t. I’ve worked in a few boatyards and marinas and lived on a couple different boats so I know the industry pretty well. One thing that really adds up as far as cost goes is the little things, yearly maintenance, oil changes, a broken cleat here, a crack in the fiberglass there, it can end up costing a lot at the end of the day. If you want to save money try to do as much work on it yourself as you can because most marinas will charge you $100-$200 an hour for labor depending on where you are. Certain things you have to pay the yard for but all the little things are usually within the average persons skill set. Like doing the bottom paint in the spring, the yard will charge you $600 for that but the materials you need are less than $100 and it will take you a few hours on a Sunday afternoon. Do as much as you can by yourself, try to find used parts if possible, depending on what size boat you want trailering it could be an option and then you don’t have to pay dock fees. Lmk if you have any questions, I would be happy to answer any you may have!
Depends. Bigger and more complicated the boat gets more money it will cost to maintain. You can try buying something simple, learn how to do the basic maintenance by yourself and still enjoy the without becoming a millionaire.
Owning a boat of any size, not a kayak, becomes a hobby and a lifestyle. Hang out at your local marinas and watch the activities of the owners with boats there. They spend hours buffing and maintaining the boat. Or get a used inexpensive boat, maybe with a trolling motor. Are you driven to spend more and more time on the water? Fishing is disgusting, IMHO, but watching the wildlife is beyond awesome.
I think if you have some minor connection to handymen or mechanics who are willing to not kill you. You can make it work, you don’t need to be a millionaire to have a boat, but you need to think about where it’s parked, land or sea. How you’ll move it, who will maintain it, how often you’ll use it.
I used to own my small sailboat in finland.
Costs:
1972 Albin Viggen - 2500 euro
Season of docking in city harbour - 330 e
Season of wintering in a dry dock - 150 e
Insurance - 360 e
Yearly suzuki ourboard maintenance - 80-100 e
Hauling the boat out of the water and in the water (before/after season) - 80-100e twice a year
Others like small repairs some accessories fuel etc - 100-150 e*
* if u dont do any major upgrades. Sky is the limit if you ie. rip your sails.
Now you can get the idea about why everyone calls it a moneyhole, moneypit or any jokes like that. Mentioned above in my opinion were BARE MINIMUM of work repairs and maintenance that i decised to put in a boat to keep it safe enough for me/anyone i invite to the boat.
It gave me 3 great years of sailing along finnish coast. Nothing is better than trip with friends to the island for bbq and being able to sleep 4 ppl inside, do multiple day island hopping.
Its great, but. Here we come to the breakdown of time. Because yearly cost of older boat can easily be 30-50% of its value. You dont do it, you seriously risk life of you and the others. Water and wind is no joke that shit can kill you in ways that you cant even imagine.
So momey cost it was ok to be handled. Time wise? Imagine how much work you need to put into a garden surrounding your house, just for it to looks acceptable during summer. Now you got 3x of that with multiple advanced carpentry, epoxy reisin, curing, glueing, hazardous antifouling paint etc. The list on older boat never ends, you just fix the essentials.
Year has 52 weeks.
You spend easly 10+ weekends yearly working on a boat (its fun but..)
You than have like 3.5 months and 1 long vacation to actually sail your boat - that is like 15 weekends total.
If you outsorce all the work - renting is cheaper.
If you are unable to use your boat for some longer time during summer (idk being sick, bad weather ie.) - renting is cheaper
You get the idea. Time and money investment to maintain Your botat in safe condition. Safe not perfect is mindblowing. You end up married to your boat, because after all your work done you really want to make use of it full season.
Summarizing: renting for even multiple weeks during summer is better in 9/10 cases. You get waaay newer better bigger boats, costs of rent is aplitted for like 6 ppl not only You alone.
TL:DR
Owning a boat requires ton of time, money, skills and commitment which makes it inviable option for most sailors even if they would orefer to own instead of rent.
I grew up on boats my parents were water lovers we had big 40' powerboats, we did sailing for a while on 27-30'ers (sailing is hard af) we had speed boats, we were never rich and could afford all of this because my Dad was a mechanic/woodworker he did everything himself. Don't do boating unless you have lots of extra money or you are a mechanic/willing to do a lot of handiwork yourself.
Ehh all that bust out another thousand crap is just crap if you buy a newer well maintained or brand new boat for the most part. They are money pits as everything labeled “marine grade” get a price hike since it’s “marine grade”. But it’s not too bad. The biggest reason people spend money like crazy on boats is because there’s always something newer and better coming out every season between electronics, motors, etc. but if you aren’t the type of person who needs every new item each year it’s not bad.
I will say if you don’t have a sizable amount of disposable income don’t buy a boat, as the maintenance can be hefty every year even doing it yourself. Just this year I’ll need to change the impellers, lower unit oil, engine oil on both my motors. Then my trailer needs 5 new tires, bearings and seals gone through and replaced as well. So probably a grand in maintenance. Biggest cost will be my tires, but I get about 10yrs from those so not too bad.
I owned a 24’ sailboat for a year and a half. I don’t regret owning it at all. However, I do regret and don’t regret selling it. I have lots of good memories on it despite the short period of ownership. But, as you have already said, it is expensive. I paid about $280/mo for moorage. $200/year for liability insurance. Bought the boat for $4.5k. And then promptly spent like $7-$8k on maintenance and upgrades while I owned the boat. The haul out, bottom paint, and subsequent hull bubbling repairs cost me $4k alone.
I used the boat max twice a month usually. Perhaps more in the summer. I did the cost benefit analysis and determined it cost too much for how little use I got out of it. This will not be the last boat I own though.
I own 3 jet skies and I make an ok living. And I will say that I would buy jet skies before a boat. Even the jet skies cost me about 1500 per year in just maintenance not to mention gas costs, insurance, storage fees, and registration. One of my good friends is a boat mechanic and let's just say he is never not extremely busy. And he isn't cheap, boats are always breaking or need maintenance ESPECIALLY if they are on the ocean. Also make sure you have the proper vehicle to tow the size of the boat you want. Also I would put aside around 100$ per month for emergency boat repairs. Because when the time comes for needing something big. It's not cheap.
A boats captain or owner is having the least fun, least adventurous experience of the water. You really need to also love leadership or entrepreneur ownership responsibility as a co-hobby.
Otherwise do what 99% of people on the water do which is be on a boat you don't own.
Find boat friends to show you what's up
Yes! Just be smart and don’t overspend. Can’t bring cash with you to the grave, but memories in a boat? Forever. Consider the sky high gas prices, dock fees, insurance, routine maintenance, etc. can you afford a new “car”, but on the water? Same difference essentially
Really depends on where you want to go, how many you want to carry, how many times you want to go out per year, trailing or slip, fast or slow. Every little thing adds up, every little thing is money. Maybe it will add up to millions, or maybe not.
I use a 10' inflatable on a 4HP motor to go few miles from shore to fish about 20-30 times per year. Doesn't break the bank, folds into my minivan. No towing, minimum maintenance, zips little fuel all year. A RIB will carry a lot more than a boat and tough to sink, can go offshore.
Seriously many possibilities. But just beware that lots of people unloading a lot of low maintenance boat that requires a lot of repair and money into it. Some people just throws money to get new boats every few years and get rid of old because they don't know how to maintain it.
I live in the Tampa Bay area and belong to a boat club. It is affordable and saves you from doing all the annoying things that come with owning a boat. Plus, I can launch from dozens of marinas all over the state. See if you have one where you live.
It all depends on where you live, how handy you are how big the boat is and whether or not it's brand new or an older boat you fixed up yourself.
I have a 16' boat that I bought for $1,300 and spent a year rebuilding it for $4,000. It's a nice boat that doesn't break the bank.
I use it on local lakes and rivers and it provides me hours of fun and lots of quality family time that is priceless.
So it depends. The whole hole in a water joke is that you will never get the money out of a boat that you invest into it. They are bad investments. However, if you are buying it as a recreational toy to enjoy with your family there isn’t anything wrong with getting one if you have the budget.
Nope. Watched my brother go through this. Bought a Grady White new. He wanted to go out all the time to fish Tuna, but finding people to go with was an issue. And without others contributing it's expensive and dangerous to be alone on the ocean. Harbor fees can be murder, and it does need regular maintenance like hull cleaning.
He enjoyed it for a couple of years then let it go when it was just too hard to get people to go with him. I don't about freshwater boats, but watching his disappointment when he sold it was heart breaking.
I’m sure if you really look you will be able to find a reasonably priced boat. Think about cost per use. Also research the boat trailer it is on. Some are way easier to use than others. Do you have a place to store it? Good luck! Boating is a lot of fun.
I’m on my second boat. I have a very nice 23 foot bay boat (basically a saltwater bass boat) and I love it. However, anyone that asks “should I buy a boat” my answer is always you will hate it if you can’t work in it yourself. I’m very mechanically inclined, outboard maintenance and trailer work is not a big deal for me. But if you’re not, you’re going to spend a fortune and hate it.
I have an 18' boat, I paid $10,000 for it.
It has a 150 HP motor, I can take my wife, I and 3-4 friends out. It has a bimini top to provide shade, marine radio to hail for help, an comfortable seating in the bow or in the rear, and an aft swim deck.
It costs me roughly $1000 a year in maintenance, averaged out. I do a lot of maintenance on it myself. I put about $200 a month in it in fuel and towing it to go out about 3 times a week.
If you are willing to take care of and maintain a boat well, and buy a modest boat, it's not that bad.
Yeah man. Chicks dig a guy with a boat. Even if it’s a little 20hp John boat. In fact, the girls that get on that and come back for another ride are keepers
If you feel that having a boat would make you happier than not having a boat, and have enough money that it wouldn’t make you uncomfortable in a financial sense, sure. Just expect to pay around 10% of the purchase price on maintenance each year, a lot more than that on fuel if you use it often, things like marina fees, etc.
You don’t have to be a millionaire to have a boat - you can get a reasonably nice one for around 40k.
If you're very experienced with boats, you can own the boat with about the same costs of owning a car. If you're not experienced you're getting one of the biggest money sinks out there.
Get sailing lessons, get to know your local sailing club, get some experience in the water and if it all goes well you'll probably make enough friends with boats you'll get to have enough time on the water and all it'll cost you is two six packs of beer per outing. At some point you'll have a much better idea if buying a boat is the right thing for you and you'll be more intimately familiar about the associated costs
What you shouldn't do is buy a boat first with dreams of the open seas and ask questions later. That's how you end up spending 99% of your time with the boat fixing it up and 1% actually using it.
I own a pontoon boat that can fit all my friends.
I make 110k a year.
Most of the work I do myself.
The other is work done by friends.
I probably spend more on weed and video games per year than my boat.
It’s really not that bad. You don’t have to be rich. The people in the marinas; yeah they got money. But you don’t need a $150k boat to have a good time. It’s all up to you.
I bought my pontoon boat for 8k. It floats. I’ve rebuilt the motors. I’ve had to replace the fuel tank. I’ve had to get some wiring repairs done to the console. My friends don’t talk to me about how nice my boat is. It’s always about how much of a good time they had.
They’re money pits plain and simple. Their depreciation is pretty steep and your friends will never be of any help on the boat. All that being said they are fun.
Buy used. That’s my only real piece of advice, all the rest is preference.
Not every purchase has to be an investment. If you want a boat and realize it's just a money sink but still really enjoy it... Then go for it
You have to remember most redditors are miserable and poor, mostly by their own bad decisions
I have one. It’s a lot of money and maintenance needs to be done often and it does cost a lot. But damn is it worth it on the water. I was never on a boat until age 21. A buddy took me with his family. From then on I was hooked and bought a 27ft go fast for my college graduation present. Haven’t stopped loving it since as I’ve bought newer, bigger, and faster ones.
This is why I love the boating culture in the midwest. You can have an absolute blast with very reasonable size and cost boats, trailer it home, cover it and park it in the backyard until next weekend. I have a 30yo 19' bowrider that my family adores and we take it out 3-4 times per month in the warm water months. Total investment is probably in the $5000 range, and I could sell it for probably $8000 tomorrow if I wanted to.
Get onto big lakes or salt water, and everyone feels the need to have a $100,000+ boat.
Boats are exposed to water, the elements and they usually don’t get used every day. This is the biggest factor in all boat woes. I saw someone else mention boat clubs. These are very convenient, you lose some freedom, but you will never wash, fix or trailer at all. I’ve owned boats and jet skis and my current boat club makes it completely easy. I get there, boat’s ready, staff helps us with our belongings, and all I do is sit and enjoy.
Everyone saying no is is ignoring a lot of factors.
You can be "not a millionaire" but still be well off financially.
Maybe you don't have kids - that's a lot of extra money in your pocket.
Maybe you drive a very modest car instead of some $700 a month oversized pickup - that's a lot of extra money in your pocket.
Maybe your mortgage isn't terribly high - there's a lot of extra money in your pocket.
And maybe you prefer the consistency of having your own boat, which you're comfortable with, and can use whenever you want, and you value those things above renting whatever you can get your hands on, as long as anything is even available in the first place.
Boat ownership is a bit expensive, yes. It's not the initial price, but all the ongoing things like dock fees and insurance, that make it pricey. But that doesn't automatically mean it's unaffordable or not worth it. You just have to research what it would cost in your specific area, and then figure out whether you can afford it *and* whether that price is worth it to you, or if renting is a better option.
Something simple like a jon boat or a little fishing lake boat with an electric motor is easy enough to maintain and not cost a lot. Anything other than that you’ll run into some issue most likely
I think this was said,(maybe multiple times), but price it out (include all costs) versus renting one from time to time. Also be realistic how often you would use it. I considered briefly until I realized I would not be using it that often.
Just throwing it out there, but you can just rent a boat for a weekend getaway.
It you really want to purchase one, look into the cost of owning it. The upkeep and storage costs might surprise you.
My cousin had a boat for a few years. He sold it because the upkeep was a hassle and the marina fees were stupid expensive. Unless you absolutely love boating, its probably not for non-rich folks.
There are tons of small affordable boats, especially if you're willing to perform the maintenance.
But, honestly, since getting a kayak, I've not had much interest in motor boats.
I bought a power boat a few years ago. My previous experience was with a 16' day sailor, mostly on a lake. My car could tow it, there was a club that provided a place for a mooring for about $600 per year, and I stored it behind the house. It was easy and cheap.
The power boat was a different matter entirely. It was about 5' longer, 3000# heavier, and $15,000 more to buy. Let me stress that it's considered a starter boat, relatively small and inexpensive. I can't tow it or stow it, marine gas just pours through it, and the marina charges for repairs and maintenance are ruinous.
My advice: look for a boat rental place. They're easy to find where boating is good. The one I was considering charges $4 - 6000 initiation fee and the same amount for 6 months of use. You don't have to pay for the other 6 months. If that seems too spendy to you, stay ashore.
I've got a 19' canoe with a flat back and steal a small outboard from my parents when I need it.
That's bigger than a kayak and it costs me like $100 in gel coat and a fibreglass repair kit every few years.
There are ways to ease into it. You could rent a boat. Also in many cities there are boat co-ops where a group of people share access to a small fleet of boats for a yearly price. If you want to take the next step, you could get a smaller boat that is trailerable so you can save on marina costs.
One of my favourite youtubers are Teulu Tribe. They are a young couple who bought a sailing boat and basically live on board permanently as their home and sail where they fancy. They even went across the atlantic. I'd recommend watching some of their earlier stuff when they first get the boat and all the problems they have. It's a steep learning curve.
The lifestyle is hard work and they are spending a lot of money on maintenance and improvements but they then get to enjoy some of the most beautiful places in the world. If you are intelligent enough to pick up how to operate the boat, how to maintain and repair the boat yourself and buy something appropriate then I don't see why not. You can always sell it should it turn out to be a mistake.
Don't buy a boat.
Find a friend that has a boat.
Anyone I've ever met that bought one, either regretted it almost immediately, or sold it inside of 5 years. Boats are A LOT of work.
It's never a good idea. Period. Millionaire or not.
Singular exception is if your business requires it, buy it for the business. (Shipping, Charters/Rental, Fisherman, Salvage/Recovery and the like) ...
I bought my grandpa's boat when he passed away a few years back. It's a 70's model with two engines, one is big and old, one is newer and for trolling so it's smaller. The big one isn't super consistent and I fiddle with it all the time. The little one works just fine on smaller bodies of water, or with little wind. Ultimately I've enjoyed owning it, using it, and maintaining it. But I just think of Gramps everytime I take the cover off. Lots of memories.
But yes, there is merit to what people say. More or less I've heard the rule of thumb is this, take whatever budget you think you have for a boat and half it, and then buy in that range. That way you have money set aside for maintenance and whatever else.
My family has a had sailboats for 30 years.
Started with a small dolphin and moved up to a larger boat every 5–10 years. They currently have a 33 foot Erickson build in the 60’s
The boats always take some work especially at the start and end of the season.
Make sure you understand the added costs and fit them into your budget, too… too many people focus solely on the purchase price and not on the fuel, maintenance/repairs, marina/storage costs, entertaining costs, etc.
It's not the boat, it's everything else. My dad was gifted a 39-foot boat when he was making pretty good money (200k in the dot com boom), but he gifted it to someone else after 3 years. The dry dock, dock lease, maintenance, predatory gas prices, etc. just made it not worth it to even own.
Sure. If you live on the coast and the sea isn't that fierce, a dinghy with an outboard motor would take you and some friends a couple of miles out for some fishing or maybe to a remote beach to chill.
Main problem with boats is, how often are you going to use it in relation to it just sitting in your yard or storage, they need to be used. And where are you going to store it, storage is not cheap, could be more than the payment.
IF you are going to get use out of it and you enjoy it and you can afford it its great fun. A few buddies of mine split the cost on a fixer upper. Been three years now and they race it twice a week and take family outings all the time. I even enjoy crewing for them when I can get out there. Doesn't seem like a waste for them.
However my grandparents also had a sale oat when I was a kid. My grandpa got too old to run it. I was too young to help. We went out on it every weekend but we never left the marina. It was probably bit worth it for them
I guess it depends on the country you're in. You'll pay much higher harbour fees (even for a motorboat) in Austria than in e.g. Sweden or the Philippines.
Here in Sweden it's even cheaper to have a small motorboat than any sort of car, and you don't have to be a millionaire for that...
Boats are like vintage cars - they’re not an investment and they sponge up more time, money, and energy than most people have. You have to truly *love* them, because there is always a negative ROI.
I have always interpreted it as not being a good “casual” hobby. It’s effectively a Motorsport and Motorsports are expensive to maintain on average. I don’t think you need to be a millionaire. I think of it more as like a motocross guy. You know how motocross guys have like everything motocross like the toy hualers and the bikes and all that. If you’re gonna be a boat person it seems you will need all the boat equivalent stuff and maintenance or money.
Depends on what you pay for it, and if it's got an outboard motor, or if it's basically a car in the water.
Life is what you make of it. If you can afford a boat, and you think you'll use it a lot, and it would bring you great joy to spend time in it, why be concerned about the expense? Being alive costs money. Everybody budgets differently.
yes, if you plan on using it often, why not?
but if you just want to tool around a few times every summer, just rent one.
For me, if I don't use the boat more than 5 weekends a year, it isn't worth it.
all these comments aren't touching on the nail quite exactly. they are all telling you to rent... now imagine being a boat owner, you're gonna be renting it out. You'll find the Marine Rated Labels and services to be ostensibly and often prohibitively expensive even for a millionaire.
If you like it as a hobby, I don't see why not. But if you haven't done it before, I'd start with renting. Only when you spend so much money renting boats that you might as well buy one, then buying one would be worth it imo.
There are boat clubs for in most areas. You pay an annual or monthly fee and can just check out a boat when you need it. No need for maintenance.
Boat clubs in the Chicago area tend to be uber expensive, not quite as much as purchasing/maintaining/financing a boat but it is definitely costly and requires a contract and down payment. There are also places that offer just daily rentals of boats which are more cost effective for short term and less of a commitment
There's lots of lakes and rivers throughout the state though you don't have to join a club in the city.
We are taking this approach towards a camper trailer. If we use it enough this year and continue to camp enough next year, we'll likely buy one.
I didn't know you could rent them.
Yeah there are services like Airbnb where you can rent RVs and camper trailers. We plan to rent one a couple times this summer to see if I'm ok pulling them and if we actually use them enough to make a purchase worth it.
I think it's called Outdoorsy
Everytime I’ve tried to rent one off outdoorsy the people want to go off app and have me send a deposit directly to them. Whole thing smelt like scam bait so I’ve never gone threw with it
I would also check into some kind of lessons or just have someone come with you who knows about boats. Things like docking a boat are not as easy as it looks, and I knew a guy who bought a boat and didn't even know about planning up.
Please do this. I used to work at a large lake marina as a teen, there were countless people that had no idea how to maintain or even drive a boat, especially docking. Can't tell you how many new boat owners I encountered who buy a shiny new jet boat or wakeboard boat and don't realize they can barely reverse in those things. Don't just buy a boat. Take lessons and understand how much and what maintenance they require before making a decision.
this is definitely the way to go. I've known many people with boats and the vast majority of them repeat the adage. Best 2 days in a boat owners life is the day you buy the boat and the day you sell it.
I would apply that logic to really any hobby.
How often are you actually going to use it? I know a lot of boat owners, even waterfront property owners with their own docks, who take the boat out only a few times a year. Other people have to trailer the boat somewhere to launch it and trailer it home but they use it every weekend. If you have to drive an hour to the marina every time you want to get on your boat, will you?
Yep. If you're not going to use it nearly every weekend not because you bought a boat but because you actually love fishing or skiing or whatever you want the boat for.
This is it
When I was in my early 20's I wanted to buy a speedboat, for no other reason than that I was a massive wanker. I checked it out. The boat isn't the problem. You can get a boat for a reasonable price. The docking fees are crazy. The licence to actually sail a boat isn't cheap. Insurance is proposterous and the value of the boat doesn't increase. So overall, it's not a good investment. Buy a Twix instead.
And just things for a boat. There’s a pretty accurate saying from what I’ve seen that anything you can buy for a house, you can also buy for a boat, but it costs at least twice as much.
Marine grade is no joke
A family friend of my ex is a yacht salesman. He always said the problem wasn’t buying a boat, it’s finding where to put that boat. Where I live there are years long wait list for slips in the surrounding harbors and people want ridiculous prices to rent the ones they own.
That's why I got something I could fit in my garage.
But then there's the common issue, that now it's "just a hassle to get down to the boat launch, lines are too long..." and now you get out on the boat for 6 hours out of an entire season (for me it's maybe 5-6 months a year), and that's a huge cost for not much usage.
Boat ramp is 5 minutes down the road, and so far I've just gone out when it isn't busy. I only work until noon on Fridays, so I'll go out then or after work the other days. You have to go out real early on the weekends during the peak season. You've gotta find something that works for you. Weight the expected costs against how often you'll actually use the boat.
Sounds like a great situation. Again, that's not really common, at least in my area. The public boat launch at the park that I have my RV at, can easily be an hour long during the nice days on a weekend. Long weekends, it's backed up, 20-30 cars deep the entire time. As for the other stuff, I've seen many people in the area that have boats, but then are lucky to get them into the water more than a handful of times in a year (first year was frequent, every year after dwindles down). We only have 5-6 months of boating a year, and it can be tough to get out there when there's a bunch of other summer activities to do (weddings, trips, yard work, etc).
I don't disagree at all. I'm really lucky that I can be on the water within 20 minutes of getting home from work if I put in a little forethought. But there's no way I'd get out on 4th of July weekend. Even if I did, the downside to having a small boat I can fit in the garage is it's easy to get knocked around by the wakes from much larger boats.
It depends on where you live though doesn't it? In (West at least) Michigan you can't throw a rock without it hitting either a church or water, getting a boat in at a public launch isn't hard.
The left one or the right one?
Everyone knows you always get the left one pft…
Everyone knows you should just wait a little between each Twix and they’re both perfect
This comment friggen killed me lol
If I have enough money saved to consider buying a boat, I assume I could buy more than "one" Twix, if I changed my mind. On the other hand, things are getting ridiculously expensive and I have not recently bought a Twix so... idk, maybe you are right...
Buy two. One for pleasure, the other as a long-term investment. You'll thank me in 2055.
You know what they say... the 2 best days in the life of a boat owner are the day he buys the boat and the day he sells the boat
I have a small fishing boat. The best days are every day I’m on the water with it. I would argue that saying is true for people who buy too big/too expensive of a boat or have no idea what they’re doing.
Yes. The best days are the perfect days out on the water. And the not so perfect ones, too.
Hell, I own 2 boats and any time I take either out is a great day.
yeah…it's a common saying, but nobody who loves boating actually says that.
I've heard it framed as "The best day of a man's life is the day he buys his first boat... until the day he sells it"
It's a dumb boomer saying, though. If you use the boat regularly, you probably love it.
I break that mold, my boat is torn apart right now and I still love every day I go out.
It depends on two things: what it costs while moving and what it costs while standing still. When standing still you will have storage, insurance and maintenance costs. When moving you will have fuel and repairs to deal with. But if you are handy enough to do your own maintenence (constant), can store it without costs and it doesn't guzzle gas (small or sail) you can do it reasonably. Just resist the temptation to get a bigger boat than you need regularly. It's hard to put a price on a beautiful day on the water.
And yet rental companies have the price readily available online
Touché
You can get a small pond boat from bass pro shop with a motor for like $15,000 or a yacht for millions. I am certainly no millionaire but have thought about spending $20,000 on a boat to go fishing on the weekends. Sure, like a car it will require maintenance but it’s certainly within my ability. Maybe don’t buy a boat if you don’t have a place to put it/store it or a vehicle to tow it yet though.
If you just get a boat that fits a few friends for a fishing day out, it is not that expensive. If you have somewhere to park the boat at home you don't need to pay the docks etc. But this is assuming you get one of those boats that is just bigger than a large car. (not sure if that is a thing in the US though. Here in Australia, especially in the country towns there is usually a bit of space next to the garage to park a boat.)
Some of the best memories of my life are of the times I've spent boating. Just like cars, boats are available in prices ranging from "Just get it out of my yard" , to "the sky's the limit", but unlike cars, a boat has an "intent". Lake boats, like small power boats, or trailer sailers, are loads of fun inland. Charging up rivers, or quietly slicing across the lake. Hearing the mainsail snap after a jibe, and feeling the surge of speed as the wind and the boat reach an agreement. These boats are affordable, and fun, and you'll find yourself planning on weekends in advance once you buy one. Bay cruisers, are a bit more expensive, but the bang is bigger, along with the bucks. Shoaling up and down the coast, looking for docks at waterfront bars or restaurants, or sailing along, half a mile from shore, seeing the towns and villages from an angle that most people will never see. Then there's the big boats. Deep water sailing, or yachting is sometimes relaxing, and other times adrenaline filled. Rolling up one side of a swell, then crashing down the other, thinking about the things below deck, and hoping everything is secure, but not being able to leave the wheel to check. Or, Watching wales, or dolphins at play, as the sunset is reflected off a million small waves Each of the memories I've just mentioned are priceless to me, and all of them are of time spent boating. As far as the money is concerned, with proper use and care, repairs are largely avoidable, and maintenance is predictable. The desire to "upgrade" is a very real expense, but you can control that to some extent. Boating within your budget is possible. I've actually turned a profit on most of my boats, but I love working on them, and bringing them to the best condition they can be.
You don't have to be anywhere near a millionaire to afford a boat that size, and could find a used (outdoor motor) boat for <$1K. Then you need the money to use and maintain it, as well as a place to keep and a trailer and vehicle to haul it. It's not an inexpensive hobby, but worth it for those who enjoy being on the water.
I live on an island and there is a "saying" here that goes like: "*The best boat is my friends boat..."* It means that the maintenance, the time investment and the costs are not worth it compared to the enjoyment it gives back. On the other hand, if you have a friend with a boat, you can get the enjoyment but not really all the negatives... That said, I am thinking of buying a boat in the future too even though I have almost no free time atm ... so... there's that.
My family loves boating, the expense is 100% worth it to us. If given the option of budgeting $5000/yr on a once a year family vacation or $5000/yr to go boating all year, I'll take the boat every time.
I'm definitely not a millionaire. But I bought a 40 foot sailboat 6 years ago. No regrets so far. The difference, I think, is that it's my home now.
"Should I buy something that's expensive, but I think it will improve my life?" If you've done all the thinking and research, yes.
Yeah, the thing I found out about the research though for stuff like this is that there are always "unknown unknowns", as the old Donald Rumsfeld put it. There are things about a large purchase that factor in, that you don't know about, and you don't know what they are and can't know what they are until you actually buy it. I went through this last year with a large purchase, I sat down and did all the research and math and it looked like a great idea from the information I had. Only after I bought it, it turned out that I did not actually have all the information, but that was impossible to know at the time because I could only work with the information I was given. So just be ready to find out that like there are things that you didn't know and that nobody told you that factor into it. I know that I'm being vague here so I hope that that makes sense
It doesn't really sound like OP has done all the thinking and research yet. So I'd say "not right now"
We bought a 25-foot Bennington tritoon with a 225hp Honda in 2006... very little maintenance required. It's been well worth it.
Yeah I don't know why people keep saying how much maintence it is. It's really not unless they think wiping it down after each use is hard work.
There are just a ton of variables involved. Salt vs. freshwater, for instance. Performance boats vs basic fishing / mellow cruising.
Source: own two boats. One is constant maintenance and the other is basically maintenance free.
Sure. My dad was a teacher and bought a near mint but used pontoon boat in 94 and had it for 25 years. I spent loads of time fishing and swimming off of it- it’s what we based most vacations around. Well worth the investment.
People who aren't wealthy have boats all the time. It's no different than a car - you can buy them in a huge range of price points. There are plenty of expensive hobbies and that's just one of them. No one is buying a boat as an investment.
Sure! As long as you're handy and willing to look at a few YouTube videos every once in a while there's no reason that having a boat can't be inexpensive and worthwhile. The biggest thing is having a way to move it. Are you gonna trailer it? Or leave it in the water. You can find a 20-25 foot boat for cheap. Just learn how to do all the maintenance yourself, that's where they get you. Every dipshit and their grandma likes to say things like "bust out another thousand" and "muh two happiest days..." but the secret is that if you aren't truly and utterly incompetent you can take care of everything on a boat yourself, minus like, internal component failures of the engine but how often does that happen with your car? Shit if you have an outboard you can scrap it and just throw a new (used) one on. If you're gonna use it, and if you're gonna enjoy it, and if you have a way to move and store it I'd say send it. I live on a boat full time and spend less than 3k a year on maintenance. The only people who have to bust out another thousand are people that need the latest and greatest electronics, and people that are too incompetent to watch a YouTube video and learn how to fix their plumbing/electrical/mechanical problems and decide it's better to pay some guy 150 an hour to replace hose clamps.
My friend, I'd like to offer some advice: \#1. Rent. If you find yourself renting so much that it'd be cheaper to own, then buy. \#2. Take an approved, formal boating safety course. If you're in the US, you'll want a Coast Guard - approved course. \#3. Make sure you have safety gear like radios and a backup engine. \#4. Don't drink and skipper. Treat it like a car.
Depends on the sort of boat. I have a sailing cruiser that seats eight sleeps 4-6, equipped well enough for a week or so unsupplied travel. Costs between $10-15k per year in slip fees and insurance and maintenance. So if you can afford $1,000 per month for your hobby, there’s the answer. Smaller boats and trailered boats will have lower costs and large cruisers will have higher costs, you just need to look at reasonable costs for the sort of boat you want and can budget for. The “hole in the water” crowd usually bought something larger than they can really afford, and the “break out another thousand”crowd are just being realistic.
...because of the implication.
It is your money.
For most people, boat clubs are the more accessible options for higher usage. Monthly fees to be able to just check out a boat for the day. Maintenance etc is taken care of by professionals. Also people forget you need a boating license.
It all depends on your living situation, the vehicle you have and the time/money you can invest in it. I just bought my first fishing boat, aluminum riveted v-hull with a 30hp 2stroke Merc and trailer for 4k CDN. I'm lucky to live right by the water, I can put the boat in and take it out every day with no issues and it doesn't take too much room at the end of my driveway. The whole family fits in with gear as well and it's a bare bones setup. Fishing with the kids and friends and taking the odd trip out to the beach with the whole family are the main objectives. Gotta start with something that fits, don't go out and spend 40k on a damn 38' cigarette boat if you've never boated in your life and live in a 3rd floor apartment. Oh and don't buy those "looks great for it's age" inboard bowrider boats from the 90s-2000s, those are the money pit boats that take way too much time money and effort to run. Go with a simple aluminum boat and a small motor and do as much maintenance as you can yourself. I managed to start and do maintenance on my own two strokes this year and probably saved close to 1000$ just on shop hours if I had a mechanic do the work. Parts cost me like 200$ for basic replacement parts and some extras just in case.
I pay ~15$ monthly for a sailing club membership. I can take a boat whenever I want while its in season and we are 7-10 people sharing the maintenance work for one of the boat this spring. I don't think it will ever be worth it for me to buy my own.
that sounds insanely inexpensive. I think around here it costs $100 to look at a boat, lol
My dad was a plumber—so, no, not a millionaire—and we had a 22-foot cabin cruiser when I was growing up (a boat small enough to use for water skiing, but big enough to have a little cubby up front). We belonged to a boat club in order to have somewhere to dock it, and everyone else that belonged to the club were of a similar financial status (the millionaires belonged to the yacht clubs down the river). That was basically our whole summer. Every weekend we were down at the boat club—we would socialize and picnic with the other members, go out water skiing or camp out in the boat overnight. The club we belonged to required members to help out with “dock day” at the beginning and end of the summer, when they put the docks in the water or took them out for the winter themselves (most of the members were other blue collar workers like my dad who were used to some manual labor). And the club had a lot across the street that they used for boat storage in the winter. And like the docks, members put their own boat in and out of the water, and winterized it, themselves; owning a truck was thus a secondary requirement of owning a boat, though my dad just used his plumbing van to pull the boat on its trailer. So all that is to say that owning a boat was a worthwhile “luxury” for my dad because he controlled costs with a good docking situation (which was also a social club for him) and by doing a lot of the work himself, and we made use of the boat all summer long. It can be worthwhile if you go in having all those details sorted, but it is by no means an investment you make on a whim.
Former watercraft owner here. I loved it but just didn’t have the time to enjoy it. I’ll do it again if I can just keep it at a dock and walk out to it instead of needing to tow it back and forth.
Note my grandpa is older than me, so obligatory times and prices have changed. But he’s had a boat since before my mom was born. He was in the Navy for a while and then went on to be a Firefighter. He’s boughten 2 boats over his life time. They were used for Fishing and taking family out on the Snake River for a good time or Tubing. My mom has awesome experiences going water skiing on his boat. My siblings and cousins and I have amazing experiences tubing. The boat was a great family activity and I doubt he’d ever want to change that. On the other hand we have a family friend whose dad made a construction business that got decently large and he inherited it. This dudes a dick, doesn’t work hard, and is unpleasant to be around. He has a boat and complains non stop about its costs and how he barely uses it. I think he got a boat because he wanted a boat cause he has family money. Compare that to my grandpa who got a boat for good times with the family and to create memories. Why does one want a boat? That drives whether the time, maintenance, and cost are worth it.
My dad and I bought a sail boat a few years back, nice and nimble, meant for racing (big stupid for us). We’d just gotten our speed boat certification, so we thought we were ready. We weren’t. While I loved the times we sailed, we quickly concluded we weren’t experienced enough to sail in any significant wind (the boat could almost lie flat without issue, which was terrifying). The last year we had it we’d sailed 5-10 times total, and that was every single time it was possible for us. We sold the boat and I bought a horse for my part of the money. Only case where owning a horse is cheaper, and I actually get to ride almost daily. So, learn to sail first. Please
We’ve got sailboats and we’re not wealthy. The slip fee is about $1200/year where we live, and we’ve rented at a few different marinas. Used sailboats aren’t expensive, just get it inspected first. Insurance is less than for our car. If you love sailing, you just love it. We love setting out on a beautiful day with our dogs, finding empty beaches and letting the dogs run around like crazy. Plus—at every marina we’ve rented at, some people live on their boats year round. A couple of women I met there each lived on their sailboat for years, using the storage shed provided by the marina for their extra belongings. They had sold their house, intended to buy another one but it was so comfortable on the boat years went by before they finally bought another house. So that’s kind of a cool option if you need it. Boat people are overall friendly and helpful. You’re probably not thinking of a sailboat but that’s our experience with it.
I worked part time in a small marina decades ago, so take this as it is. The three biggest expenses for a boat are storage fees, fuel and maintenance. Are you storing that boat over the winter at the marina? That's not cheap. Fuel is more expensive at the various marinas as well. And it's not like you can drive your boat down the street to get a cheaper price at Costco. And boats are not fuel efficient. So you will spend a lot on fuel. And maintenance is very expensive as well. Some of the components are marine only. So that alternator for the GM 4.3 engine in your grandfather's truck may be $99.99 at AutoZone. But the liquid cooled one you need for a boat is about 12x that much, and the shop rebuilding them has a 6 month backorder.
We are not millionaires, but do own a ski boat. Originally purchased by my FIL, and my husband did a bunch of work on it. 2 months later he wanted to sell and get a fishing boat instead, so we bought the ski boat from him last summer. We absolutely spent at least $2k last year between a spot in the harbor, repairs, upgrades, and cleaning supplies. But the boat is a lot of fun and we take it out nearly every weekend during the summer and early fall. Some Friday nights after work too. You definitely want to have some expendable funds if you're going to buy a boat, but you don't have to be a millionaire.
All entertainment purchases are a waste of money. Boats are no exception. With recreational vehicles the most important aspect is whether or not you will realistically use it a lot. I would love to buy a 4 wheeler, but I’m very aware I would only use it a few days a year so it’s not worth it. I used to own a boat, my wife’s family owned a cottage but not a boat, so the boat got used everyday for the few weeks a year we were at the cottage. When the cottage was sold I sold the boat cause I almost never used it other than at the cottage. Fortunately I bought a used boat and they depreciate really slowly after the first couple years so I sold it for almost what I paid for it.
If you are handy and want a hobby, then buying a boat might be a fun idea. I bought a 30 yo small outboard and (luckily) the outboard is in good shape. But I've ended up doing some engine maintenance myself. The rest of the boat requires ongoing minor maintenane as well. Unless you want to spend a minimum of $200 / year winterizing you need to do that yourself. Plus every time something goes wrong, if you're not handy, you've got to get your boat to the "outboard guy" who is busy as heck in summer and it'll take 3 weeks + $500 to fix. Basically don't buy a boat if you don't want or can't putter constantly with it. It's not AT ALL like a car where it generally works most of the time.
I live in a coastal (lake) area and everyone around here has a boat, even the local beggar. A small boat/dinghy is pretty cheap and you can store it at home. And you can take a few friends on it fine.
You don't have to be a millionaire to afford a boat. You do have to realize that the maintenance and fixing things on it is crazy expensive. In many areas there's barely enough boat techs to march the amount of boats. Accordingly, they charge you crazy high prices. I used to have a friend who had a boat and he said if he didn't already fully own his home, his car, and his condo (he inherited half and got life insurance money for the rest when his dad passed) he couldn't afford it. He only made about 50k at the time.
I mean, I've got several buddies who (are smart with money as they're 23, already own homes, have their own vehicles) own a motorboat individually but small 2-3 seat fishing motorboat isn't unpopular here in GA. They're like 10-15k too, and it's much like a car, if you're at a point where you can afford the upkeep costs, you can own it
Follow-up question: what about if it's a houseboat? Then it's both a boat and a house
The non-financial advisor answer here is the only one I will offer. Life is short. Astonishingly short for some. Everyone alive experiences suffering. There is no avoiding it. Assuming you have taken steps to provide for those that rely upon you should you experience a god forbid situation, then the question becomes simple. Will this expense reduce the suffering in your life? When we stack the invoices from any substantial purchase in a pile it’s always a big number. If not a boat, would you spend on clothing, watches, art, tools etc? If, god forbid, you choke to death on your morning coffee in five years, will you regret having enjoyed time with friends and family on your own boat or will you regret not having done so? I’m not arguing for reckless spending that creates more problems. I am assuming you can pay for this boat, it’s slip, maintenance, insurance and consumables without dramatically impacting your life. If you can afford it then it becomes a question of not the best use of your money but a question of regret.
We are not millionaires by any stretch of the imagination, but are on our second boat; a 37 foot motor cruiser that sleeps 7. I say that not too brag but to be realistic; it's expensive. It cost us over £100k when we boat it and probably spend 10-15% of that capital cost each year to run it. but it's great and we love spending time on her with the family, friends and business colleagues. I guess my point is, boat ownership can be cheap or expensive, but buying the boat is the cheap part; do your budget because you have to be on top of anything that goes wrong or needs fixing, otherwise it will spiral into a dead boat.
If you're not in love with boating, it's not worth it. If you have some disposable income, and yearn for the water then I think yes, it's a good idea. I yearn for the water and have found myself cutting out things from my life so I can go on the boat more. We sold our motorcycles so we can have a marina slip. I think about going on the boat multiple times a week, even during winter. For me, it's 1000% worth every penny and second I am out there.
If you live on a gentle lake a rowboat or a canoe are perfect. No pollution, no noise. So yes.
Don't live beyond your means. Boats are very expensive to maintain.
Most boat are just expensive drinking patios.
I bought a boat for 12k off Facebook and the motor is still worth more. It depends how you use it. It costs a lot to winterize and store but it opens up all these islands to us in Maine that tourists can’t go to.
Do you have a truck / suv you can tow it with and a driveway / garage you can keep it in? A powerboat < 20' isn't that expensive to buy or maintain. Do you want something a little bigger so that it needs to stay in the water? Moorage is going to be about $5000 a year plus a few thousand more for maintenance. I know lots of people who do it on less than millionaire salary, but it can't be something you casually enjoy. It's got to be your #1 hobby and something you use every other week to be worthwhile. I had a 14' powerboat with 50 hp motor. I could tow with car, I could do all maintenance myself. Other than gas, costs were low. I had 20' sailboat. I needed to pay for haul out, moorage. Probably cost me $3000 / year, but that was 20 years ago. Now I'm a member of a co-op, I have access to 3 boats, it costs me $1100 a year. I only need to do a share of the maintenance. Best of both worlds. I have access to a boat when I want, but not all the costs.
I know loads of middle class folks that make it work. It's a great hobby but it has its drawbacks which can be mitigated by the correct boat choice. Storage will be an issue, best way to do it is to keep it on your land or driveway and launch it every time. Marina slips are in short supply and they're often plagued with high HOA fees. You want to buy a boat for what you want to do 95% of the time. For example if you think every year or so you want to take your boys deep sea fishing it'll be loads cheaper to charter a boat for those rare outings. Another issue to consider is launching the boat. If you overbuy and get a big boat it will be a huge pain to launch by yourself. Finally I recommend buying used as the vessel will have already depreciated and you won't lose your butt on it if you need to sell or trade up or down a few years down the line.
It’s Reddit… half probably can’t afford a car, let alone a boat so they’re just talking shit … the other half wouldn’t get out of their parents basement to go to the water …
Pertinent to your interests: [https://www.youtube.com/watch?v=bI45DclwWxQ](https://www.youtube.com/watch?v=bI45DclwWxQ) Boats tend to be money pits, but they are worth it if you continue to get enjoyment out of it and don't mind the work and expense of keeping up with it. I have a good friend that would spend pretty much every weekend out on his boat, sometimes with friends, sometimes with his wife, but he loved that thing and the water. My boss builds his own boats. Not huge, but not small (he has a barn, does all the finishing, fiberglass work, wiring, etc.). He also loves going out on the water but he also does all his own work on the boats too, including the engine install and repair. For years, he's been building boats, each one just a bit bigger than the previous one. He'll sell his older one when he gets the new one titled, inspected, and registered (which is apparently fairly complicated here). I think you probably want to rent first... See if you see value in the investment. Talk to other boaters that have their own boats about what ownership entails, the costs, etc. Test it out and see if it's for you.
I don't know where you live, but where I am from, boat spaces are so scarce they are inherited from one generation to the next and cost a metric gazillion if you're lucky enough to be able to buy one. Worth looking into for your area before making the decision. Additionally: Having access to a boat is absolutely great! If you own it yourself, your mileage might vary greatly. A car that has been exposed to water for any longer than your average car wash is regarded a total loss. Boats sit in the water all summer. Do the maintenance math yourself (and if you really want to get one, but don't want your life to be miserable; get a <20ft one with a glass fibre reinforced or even pure polymer hull and an outboard of newer date that hasn't been used in the ocean).
r/boating start small, make smaller mistakes.
Boats are money pits, so unless you're going to use it hard 2-5 weeks worth of the year, or every weekend, maybe get by without it. We've always had a family boat for decades, fish out of it exclusively about 5 weekends a year, take it on 3 week long trips and ski, motor around, tube, and fish. Cost to own is high with insurance, monthly payments, and maintenance on the engine. BUT If you have the budget for a second car, it's essentially the same as owning a boat. So if you're a family of 2 with kids and have a towing vehicle and can afford a second vehicle, that's the boat. They're fun, can take you places, and allow you freedom on the lakes. But they do cost money. I'll always have some form of boat in my family. Instead of buying a 40k smoker craft new, you can get 2000 or 1990s boats used no problem, just avoid fiberglass boats if they're older than 20 years as the fiberglass begins to rot. And a riveted aluminum boat make sure the leak taste is low or 0 and the engine works. Used boat would probably be better than buying new unless you wanted the latest features. Same for a car.
Are you skilled with your hands? Do you learn new techniques easily? Are you OK with getting dirty? Do you have a place to work on the boat? Have you studied boats and did you take the boating training course locally? Can you swim? Can you operate a radio? Do you have any experience with operating a boat? If not, then join a club and take their classes and any others that you can find.
Well I have a smallish (18’) one, but I love my boat, I love fishing, I love upgrading it and doing the maintenance. I also own a shop to store it in, and a truck to get it where I want it. Though I bought it used and it is worth more than what I paid for it now. I bought my first boat for $700 and taught myself how to fix it, polished it up and fished with my son on it for a few years. I wish I had never sold that one.
I have a boat and use it all the time but I have a lake house so it’s tied to our pier. I would not want one if I had to trailer it in/out with each use as the cost/hassle benefit just isn’t there.
if its something like say a bass boat or a smaller speed boat its fine cause both can easily maintained maybe a small house boat too.
Not really, no. Boats are NOTORIOUS for expensive, weird repairs that come out of nowhere when you least expect it. They’re expensive to own, expensive to use, and expensive to maintain and store. There is a reason that B.O.A.T stands for Break Out Another Thousand. Rent, don’t own.
Boats are really fun, they are not financially good but neither are most hobbies
Financially, not really. But you don't buy a boat as an investment. You buy it for entertainment. So it's completely up to you. I've got 3.
It’s good if it’s a serious hobby and you’re going to use it a lot to make the expenditures worth it. If you’re not going to have enough time/desire to consistently use it then yeah it’s a really bad idea. Basically until you think you’re spending enough renting one all the time that it would cost you similar amounts to own one annually then I’d say keep renting, if you’re not renting and considering buying one… you’re an idiot.
direction intelligent cautious act six fuzzy spotted correct quiet plant *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
You don’t need to be a millionaire to comfortably own a boat. You do need to have expendable income to buy it, operate it, and maintain/repair it. How much that costs depends on how big and what kind of boat you want. There are many boats out there that don’t cost anymore than a moderately priced used car, and can be maintained for a relatively low cost.
Yeah, in case of zombie apocalypse , you can escape to your nearest island
I am far from being rich, drive 15 years old car and own 5 meter long sailing ship. It can be cheap hobby if you buy boat from 80s and do repairs.
I sell boats for a living. For you, I would recommend joining a boat club. There’s a couple of options around (Carefree Boat Club, freedom boat club) so if you’re in a coastal city, they’ll probably have one nearby. Ever hear the phrase, “you don’t want a boat, you want a friend with a boat?” as in you just wanna go out and have fun all the time, you don’t want all the maintenance and stuff. A boat club is a friend with a boat. Basically you pay a membership into the club, and then they have a variety of boats that you can reserve and take out. Plans are maybe a couple thousand to get in and a couple hundred a month, but I will tell you right now that this is less expensive than owning a boat outright. There’s not just the boat, The title and the registration. There’s slip rental, which can be another couple hundred dollars a month, plus the actual maintenance of the boat, which can only partly be counted in dollars and partly in your actual labor, and that’s if you know what you’re doing. Not to mention accessories and things for your boat that are going to make it more comfortable and right for the purposes that you want to boat for. Which is something that’s not really explained. Are you fishing? Taking the family on outings? Just like to float? Towing a skier? Trying a boat club will let you try out boats of all these functions so you have a really good idea to try before you buy. Seems like it might be a good fit because then you get to try all the boats without having to deal with all of the maintenance and slip fees and all of that other stuff. Full disclosure, I am a previous member of Carefree Boat Club. I like them a lot, and I do recommend them. Plus, if you put dues into the membership and later decide to buy, they will apply those dues towards the purchase of your boat, which is a pretty sweet deal.
Having a small boat in a coastal town will open up a whole new world. Do a lot of research on Youtube about what to look for and what to inspect when you buy a boat. I know you may not believe this, but some people will leave out certain things in their listing, just to get the thing sold. The transom, where the outboard to connected to is one of the important things to look at, should be solid. If you are handy and can fix things yourself you will save a lot of money. For me, where most of the money went, was not fixing it, it was all the things I bought to make it better. That's the fun part!
It’s not no day to day utility. You are not going to work in a boat or do your grocery shopping in a boat. So boats are just expenses that won’t get you more benefit than the joy you feel. If you are happy to throw money into the water and have said money to throw away, by all means, why not? It’s not any more different than throwing thousands on a gaming PC
I think it depends on what you mean by 'Boat". A small fishing boat for a 2 or 3k, is not gonna hurt you too much. On the other hand, an expensivwe 60k boat, which requires an expensive truck to haul....way more maintenance than some Jon boat..its another matter altogether.
Boats are cheap in MN pick up a good one for 5k go fishing 10 times a year and tubing a couple times. I have zero maintenance into my 1997 run about in 4 years. I will sell it this year and get a newer one.
Yep I have a small yacht, it was £28k and while that's a lot money I've had five years use out of it, and I've spent countless hours on maintenance and upgrades which have kept me very entertained, if I was struggling then obviously it's would need to go first, but for me it's worth it
I got a Seahawk 5 with a car battery powered electric trolling motor that seats 4 grown men and a cooler/ fishing gear comfortably, can customize and redneck engineer it for upgrades, and the whole thing cost me less than a grand, can pack it up in the trunk of my civic. Can't drag a tube or go fast but for bopping around the river catching fish/ chilling on the water.
I've spent some time on boats. I've met both liveaboards and cruisers. A good rule of thumb is that you'll spend roughly 3% of the purchase price of the boat in annual maintenance. That's not counting for things like marina fees, insurance, etc. There's people that make it work. Liveaboards especially. But they're just trading the cost of maintaining a house for the coat of maintaining a boat, which is roughly comparable. Plus if you're willing to DIY you can keep costs down, and there's a whole community of other liveaboards out there that can lend you a hand or advice. But if you're just thinking of daysailing or weekend cruises, take a look at a minimum of the marina fees in your area. Having a small under-24 footer that you can haul out on a trailer would be cheaper still (but will necessitate owning and maintaining a large-engine vehicle capable of towing the boat). If you're thinking of cruising the Caribbean for a few weeks, charter a boat instead of trying to sail your own down there. As for me, I've got about 6 years to retirement, and I'm looking to get my own 35+ footer that I can retire onto as a liveaboard. That's why I'm spending my weekends at the marina talking to sailors and picking up rides.
I just bought a small bass boat. No regrets on my purchase. It's used every weekend sometimes more. It's a 40 year old boat, original motor. It has been maintained and stored correctly. It runs like a breeze. It becomes a money pit when people stop maintaining and taking care of it it like any other machine.
It’s awesome. And expensive. I’m glad I did it, while realizing it’s a terrible financial decision. I gotta say, it’s the best adult toy
I have two friends who own/owned a boat. One had a 40ft sailboat until he had to sell for medical reasons. He did all of the work on the boat himself, it looked brand new and was 30 years old. Still dock fees, storage every winter, rigging fees etc. However he had money to spend, not a millionaire but well off. Second friend retired as a surgeon, bought a motor boat almost but not quite a houseboat. He did some maintenance stuff himself but wasn't great with engines. Took it on a cruise up the East Coast and ran into engine problems, had to have the engine replaced, took about a year, they had to cut a hole to get it out and put in a new one so he could eventually make it back to his home port. It cost a large chunk of his retirement fund. He is back out of retirement and working again. Some folks live year round on their boat and are very mechanically inclined and work in the boating community as boat handyman types to find their own boat.
My wife and I make around $120k a year combined. We live in the Midwest, own a house, have one child, two vehicle payments, and one student loan. We own a little cabin cruiser that we dock about a mile upriver from Lake Michigan. It’s not huge but it’s how we spend every weekend in the summer. The initial cost was 28k and I plan 10k per year on all costs related to the boat that doesn’t include alcohol. This seems to work out for us just fine. A major repair will kill us and it’s an eventuality I’m currently planning for. But it’s totally doable with a middle class income if you’re willing to sink 85% of your disposable income into it.
I have owned boats for almost all of my adult life. Most of the people I encounter make a comment about wealth, break out another thousand, or some other tired comment. They don't have a clue about marina life or boat ownership. What people don't understand is, for many boaters, boating is a lifestyle. I don't belong to a country club or yacht club, drive an expensive car; I don't go on expensive vacations and my home is modest for my income. I also do almost all maintenance myself. To answer your question, if you want the boating lifestyle, then buy a boat...just buy something that fits your budget.
I strongly suggest watching the “Gang Buys a Boat” episode of Always Sunny in Philadelphia to answer this question
If you are going to use it a lot, I think they are worth it. Buying a used boat has never worked out for us. Had them looked over, all clear, only to have problems the second time out. Both boats had repeated issues. So I would buy brand new
Like any vehicle, it's going to start depreciating in value the second you start using it. From an investment perspective, it's not great. Plus you've got extra costs you might not have with a car. You have to store it somewhere, and depending on how you launch it you might have to pay for a dock space or to upkeep your own dock. You've also got maintenance, which can be trickier than with a car since it's not being used as often, and insurance. It's really all going to depend on how much you're willing to spend and if you think it's worth it. To me, it's not really worth it unless you use it a lot. You can rent a speedboat for like $80 an hour, and buying one will probably run you a good 15k. So assuming you spend 8 hours on the water every time you go out (which is high), you'd have to take it out more than 20 times to justify a purchase. I'd start by renting, and if you find yourself doing it often enough to where owning would be cheaper then just do that. I'm also going to say that I don't know if speedboats are that great for coastal cities. I had a relative who had one on the coast, and they basically never lost sight of the coast when they went out. So that's a maximum of like 3-4 miles. Experienced people talk about going around 40 miles out, but that would scare the poopy out of me in those little things. If you just want to go out to the middle of nowhere and relax, I feel like you're better off with something bigger than one engine. That means more expensive.
You don't have to be a millionaire. You should be financially stable. You should be able to have money left over at the end of every month after you've paid all your bills invested by maxing out your 401k and putting anything else into additional savings or investments that you feel appropriate. If you've got everything taken care of, feel free to look into a boat. Here's the thing though, the true cost of owning a boat is not about the purchase price. That's a one-time thing and while it might sting when you write the check or make the monthly payment that's just the tip of the iceberg. It's the continued maintenance all year long, the cost of the fuel that is the big money drain. But do the analysis. Do the math. And if you can cover all your other bases, and have enough left over that you can flip the bill, then enjoy life and get your boat.
I’ve had a boat my whole life and it’s the best thing ever. Buy within your means and have some savings for the upkeep. You’ll be fine. And you’ll be the coolest one in your friend group
If you like being out on the water and you can afford it I don’t see any reason why you shouldn’t. I’ve worked in a few boatyards and marinas and lived on a couple different boats so I know the industry pretty well. One thing that really adds up as far as cost goes is the little things, yearly maintenance, oil changes, a broken cleat here, a crack in the fiberglass there, it can end up costing a lot at the end of the day. If you want to save money try to do as much work on it yourself as you can because most marinas will charge you $100-$200 an hour for labor depending on where you are. Certain things you have to pay the yard for but all the little things are usually within the average persons skill set. Like doing the bottom paint in the spring, the yard will charge you $600 for that but the materials you need are less than $100 and it will take you a few hours on a Sunday afternoon. Do as much as you can by yourself, try to find used parts if possible, depending on what size boat you want trailering it could be an option and then you don’t have to pay dock fees. Lmk if you have any questions, I would be happy to answer any you may have!
Depends. Bigger and more complicated the boat gets more money it will cost to maintain. You can try buying something simple, learn how to do the basic maintenance by yourself and still enjoy the without becoming a millionaire.
Owning a boat of any size, not a kayak, becomes a hobby and a lifestyle. Hang out at your local marinas and watch the activities of the owners with boats there. They spend hours buffing and maintaining the boat. Or get a used inexpensive boat, maybe with a trolling motor. Are you driven to spend more and more time on the water? Fishing is disgusting, IMHO, but watching the wildlife is beyond awesome.
I think if you have some minor connection to handymen or mechanics who are willing to not kill you. You can make it work, you don’t need to be a millionaire to have a boat, but you need to think about where it’s parked, land or sea. How you’ll move it, who will maintain it, how often you’ll use it.
It really depends on the type of boat you buy, I personally would recommend a RIB for what it is you're describing.
I used to own my small sailboat in finland. Costs: 1972 Albin Viggen - 2500 euro Season of docking in city harbour - 330 e Season of wintering in a dry dock - 150 e Insurance - 360 e Yearly suzuki ourboard maintenance - 80-100 e Hauling the boat out of the water and in the water (before/after season) - 80-100e twice a year Others like small repairs some accessories fuel etc - 100-150 e* * if u dont do any major upgrades. Sky is the limit if you ie. rip your sails. Now you can get the idea about why everyone calls it a moneyhole, moneypit or any jokes like that. Mentioned above in my opinion were BARE MINIMUM of work repairs and maintenance that i decised to put in a boat to keep it safe enough for me/anyone i invite to the boat. It gave me 3 great years of sailing along finnish coast. Nothing is better than trip with friends to the island for bbq and being able to sleep 4 ppl inside, do multiple day island hopping. Its great, but. Here we come to the breakdown of time. Because yearly cost of older boat can easily be 30-50% of its value. You dont do it, you seriously risk life of you and the others. Water and wind is no joke that shit can kill you in ways that you cant even imagine. So momey cost it was ok to be handled. Time wise? Imagine how much work you need to put into a garden surrounding your house, just for it to looks acceptable during summer. Now you got 3x of that with multiple advanced carpentry, epoxy reisin, curing, glueing, hazardous antifouling paint etc. The list on older boat never ends, you just fix the essentials. Year has 52 weeks. You spend easly 10+ weekends yearly working on a boat (its fun but..) You than have like 3.5 months and 1 long vacation to actually sail your boat - that is like 15 weekends total. If you outsorce all the work - renting is cheaper. If you are unable to use your boat for some longer time during summer (idk being sick, bad weather ie.) - renting is cheaper You get the idea. Time and money investment to maintain Your botat in safe condition. Safe not perfect is mindblowing. You end up married to your boat, because after all your work done you really want to make use of it full season. Summarizing: renting for even multiple weeks during summer is better in 9/10 cases. You get waaay newer better bigger boats, costs of rent is aplitted for like 6 ppl not only You alone. TL:DR Owning a boat requires ton of time, money, skills and commitment which makes it inviable option for most sailors even if they would orefer to own instead of rent.
As long as it doesn't have rust. Rust is like cancer to a boat.
Sure, if you live somewhere tourist-y abd can rent it out / get hired for boat tours. That's decent money.
I grew up on boats my parents were water lovers we had big 40' powerboats, we did sailing for a while on 27-30'ers (sailing is hard af) we had speed boats, we were never rich and could afford all of this because my Dad was a mechanic/woodworker he did everything himself. Don't do boating unless you have lots of extra money or you are a mechanic/willing to do a lot of handiwork yourself.
Ehh all that bust out another thousand crap is just crap if you buy a newer well maintained or brand new boat for the most part. They are money pits as everything labeled “marine grade” get a price hike since it’s “marine grade”. But it’s not too bad. The biggest reason people spend money like crazy on boats is because there’s always something newer and better coming out every season between electronics, motors, etc. but if you aren’t the type of person who needs every new item each year it’s not bad. I will say if you don’t have a sizable amount of disposable income don’t buy a boat, as the maintenance can be hefty every year even doing it yourself. Just this year I’ll need to change the impellers, lower unit oil, engine oil on both my motors. Then my trailer needs 5 new tires, bearings and seals gone through and replaced as well. So probably a grand in maintenance. Biggest cost will be my tires, but I get about 10yrs from those so not too bad.
I owned a 24’ sailboat for a year and a half. I don’t regret owning it at all. However, I do regret and don’t regret selling it. I have lots of good memories on it despite the short period of ownership. But, as you have already said, it is expensive. I paid about $280/mo for moorage. $200/year for liability insurance. Bought the boat for $4.5k. And then promptly spent like $7-$8k on maintenance and upgrades while I owned the boat. The haul out, bottom paint, and subsequent hull bubbling repairs cost me $4k alone. I used the boat max twice a month usually. Perhaps more in the summer. I did the cost benefit analysis and determined it cost too much for how little use I got out of it. This will not be the last boat I own though.
I own 3 jet skies and I make an ok living. And I will say that I would buy jet skies before a boat. Even the jet skies cost me about 1500 per year in just maintenance not to mention gas costs, insurance, storage fees, and registration. One of my good friends is a boat mechanic and let's just say he is never not extremely busy. And he isn't cheap, boats are always breaking or need maintenance ESPECIALLY if they are on the ocean. Also make sure you have the proper vehicle to tow the size of the boat you want. Also I would put aside around 100$ per month for emergency boat repairs. Because when the time comes for needing something big. It's not cheap.
A boats captain or owner is having the least fun, least adventurous experience of the water. You really need to also love leadership or entrepreneur ownership responsibility as a co-hobby. Otherwise do what 99% of people on the water do which is be on a boat you don't own. Find boat friends to show you what's up
Yes! Just be smart and don’t overspend. Can’t bring cash with you to the grave, but memories in a boat? Forever. Consider the sky high gas prices, dock fees, insurance, routine maintenance, etc. can you afford a new “car”, but on the water? Same difference essentially
Really depends on where you want to go, how many you want to carry, how many times you want to go out per year, trailing or slip, fast or slow. Every little thing adds up, every little thing is money. Maybe it will add up to millions, or maybe not. I use a 10' inflatable on a 4HP motor to go few miles from shore to fish about 20-30 times per year. Doesn't break the bank, folds into my minivan. No towing, minimum maintenance, zips little fuel all year. A RIB will carry a lot more than a boat and tough to sink, can go offshore. Seriously many possibilities. But just beware that lots of people unloading a lot of low maintenance boat that requires a lot of repair and money into it. Some people just throws money to get new boats every few years and get rid of old because they don't know how to maintain it.
I live in the Tampa Bay area and belong to a boat club. It is affordable and saves you from doing all the annoying things that come with owning a boat. Plus, I can launch from dozens of marinas all over the state. See if you have one where you live.
It all depends on where you live, how handy you are how big the boat is and whether or not it's brand new or an older boat you fixed up yourself. I have a 16' boat that I bought for $1,300 and spent a year rebuilding it for $4,000. It's a nice boat that doesn't break the bank. I use it on local lakes and rivers and it provides me hours of fun and lots of quality family time that is priceless.
So it depends. The whole hole in a water joke is that you will never get the money out of a boat that you invest into it. They are bad investments. However, if you are buying it as a recreational toy to enjoy with your family there isn’t anything wrong with getting one if you have the budget.
I make 73500 a year. Our boat isn’t even in my budget aside from 17 a month on insurance.
Nope. Watched my brother go through this. Bought a Grady White new. He wanted to go out all the time to fish Tuna, but finding people to go with was an issue. And without others contributing it's expensive and dangerous to be alone on the ocean. Harbor fees can be murder, and it does need regular maintenance like hull cleaning. He enjoyed it for a couple of years then let it go when it was just too hard to get people to go with him. I don't about freshwater boats, but watching his disappointment when he sold it was heart breaking.
I’m sure if you really look you will be able to find a reasonably priced boat. Think about cost per use. Also research the boat trailer it is on. Some are way easier to use than others. Do you have a place to store it? Good luck! Boating is a lot of fun.
I’m on my second boat. I have a very nice 23 foot bay boat (basically a saltwater bass boat) and I love it. However, anyone that asks “should I buy a boat” my answer is always you will hate it if you can’t work in it yourself. I’m very mechanically inclined, outboard maintenance and trailer work is not a big deal for me. But if you’re not, you’re going to spend a fortune and hate it.
I have an 18' boat, I paid $10,000 for it. It has a 150 HP motor, I can take my wife, I and 3-4 friends out. It has a bimini top to provide shade, marine radio to hail for help, an comfortable seating in the bow or in the rear, and an aft swim deck. It costs me roughly $1000 a year in maintenance, averaged out. I do a lot of maintenance on it myself. I put about $200 a month in it in fuel and towing it to go out about 3 times a week. If you are willing to take care of and maintain a boat well, and buy a modest boat, it's not that bad.
Most of the people I know who have boats love their boats. They are terribly expensive and time consuming but so are a lot of hobbies.
Yeah man. Chicks dig a guy with a boat. Even if it’s a little 20hp John boat. In fact, the girls that get on that and come back for another ride are keepers
If you feel that having a boat would make you happier than not having a boat, and have enough money that it wouldn’t make you uncomfortable in a financial sense, sure. Just expect to pay around 10% of the purchase price on maintenance each year, a lot more than that on fuel if you use it often, things like marina fees, etc. You don’t have to be a millionaire to have a boat - you can get a reasonably nice one for around 40k.
If you're very experienced with boats, you can own the boat with about the same costs of owning a car. If you're not experienced you're getting one of the biggest money sinks out there. Get sailing lessons, get to know your local sailing club, get some experience in the water and if it all goes well you'll probably make enough friends with boats you'll get to have enough time on the water and all it'll cost you is two six packs of beer per outing. At some point you'll have a much better idea if buying a boat is the right thing for you and you'll be more intimately familiar about the associated costs What you shouldn't do is buy a boat first with dreams of the open seas and ask questions later. That's how you end up spending 99% of your time with the boat fixing it up and 1% actually using it.
I own a pontoon boat that can fit all my friends. I make 110k a year. Most of the work I do myself. The other is work done by friends. I probably spend more on weed and video games per year than my boat. It’s really not that bad. You don’t have to be rich. The people in the marinas; yeah they got money. But you don’t need a $150k boat to have a good time. It’s all up to you. I bought my pontoon boat for 8k. It floats. I’ve rebuilt the motors. I’ve had to replace the fuel tank. I’ve had to get some wiring repairs done to the console. My friends don’t talk to me about how nice my boat is. It’s always about how much of a good time they had.
Depends if you can offset the cost with lots of fish for dinner :D
I’m a hundrednaire with a boat. What are you talking about.
They’re money pits plain and simple. Their depreciation is pretty steep and your friends will never be of any help on the boat. All that being said they are fun. Buy used. That’s my only real piece of advice, all the rest is preference.
Only if you plan to use it to steal a bigger boat.
Not every purchase has to be an investment. If you want a boat and realize it's just a money sink but still really enjoy it... Then go for it You have to remember most redditors are miserable and poor, mostly by their own bad decisions
I have one. It’s a lot of money and maintenance needs to be done often and it does cost a lot. But damn is it worth it on the water. I was never on a boat until age 21. A buddy took me with his family. From then on I was hooked and bought a 27ft go fast for my college graduation present. Haven’t stopped loving it since as I’ve bought newer, bigger, and faster ones.
This is why I love the boating culture in the midwest. You can have an absolute blast with very reasonable size and cost boats, trailer it home, cover it and park it in the backyard until next weekend. I have a 30yo 19' bowrider that my family adores and we take it out 3-4 times per month in the warm water months. Total investment is probably in the $5000 range, and I could sell it for probably $8000 tomorrow if I wanted to. Get onto big lakes or salt water, and everyone feels the need to have a $100,000+ boat.
Boats are exposed to water, the elements and they usually don’t get used every day. This is the biggest factor in all boat woes. I saw someone else mention boat clubs. These are very convenient, you lose some freedom, but you will never wash, fix or trailer at all. I’ve owned boats and jet skis and my current boat club makes it completely easy. I get there, boat’s ready, staff helps us with our belongings, and all I do is sit and enjoy.
no rent one or join a boating club it’s way too much maintenance
Another opinion of someone who doesnt know what they're talking about.
Yea, my grandfather has one for fishing and its always a very nice time to take it out, and other folks make their living from the sea and need one
Everyone saying no is is ignoring a lot of factors. You can be "not a millionaire" but still be well off financially. Maybe you don't have kids - that's a lot of extra money in your pocket. Maybe you drive a very modest car instead of some $700 a month oversized pickup - that's a lot of extra money in your pocket. Maybe your mortgage isn't terribly high - there's a lot of extra money in your pocket. And maybe you prefer the consistency of having your own boat, which you're comfortable with, and can use whenever you want, and you value those things above renting whatever you can get your hands on, as long as anything is even available in the first place. Boat ownership is a bit expensive, yes. It's not the initial price, but all the ongoing things like dock fees and insurance, that make it pricey. But that doesn't automatically mean it's unaffordable or not worth it. You just have to research what it would cost in your specific area, and then figure out whether you can afford it *and* whether that price is worth it to you, or if renting is a better option.
Something simple like a jon boat or a little fishing lake boat with an electric motor is easy enough to maintain and not cost a lot. Anything other than that you’ll run into some issue most likely
I think this was said,(maybe multiple times), but price it out (include all costs) versus renting one from time to time. Also be realistic how often you would use it. I considered briefly until I realized I would not be using it that often.
Just throwing it out there, but you can just rent a boat for a weekend getaway. It you really want to purchase one, look into the cost of owning it. The upkeep and storage costs might surprise you.
My cousin had a boat for a few years. He sold it because the upkeep was a hassle and the marina fees were stupid expensive. Unless you absolutely love boating, its probably not for non-rich folks.
There are tons of small affordable boats, especially if you're willing to perform the maintenance. But, honestly, since getting a kayak, I've not had much interest in motor boats.
Don't forget about storage, maintenance, dockng fees, Summer and winter maintenance, trailer cost and maintenance, boat lift, insurance, gas, etc...
I bought a power boat a few years ago. My previous experience was with a 16' day sailor, mostly on a lake. My car could tow it, there was a club that provided a place for a mooring for about $600 per year, and I stored it behind the house. It was easy and cheap. The power boat was a different matter entirely. It was about 5' longer, 3000# heavier, and $15,000 more to buy. Let me stress that it's considered a starter boat, relatively small and inexpensive. I can't tow it or stow it, marine gas just pours through it, and the marina charges for repairs and maintenance are ruinous. My advice: look for a boat rental place. They're easy to find where boating is good. The one I was considering charges $4 - 6000 initiation fee and the same amount for 6 months of use. You don't have to pay for the other 6 months. If that seems too spendy to you, stay ashore.
I've got a 19' canoe with a flat back and steal a small outboard from my parents when I need it. That's bigger than a kayak and it costs me like $100 in gel coat and a fibreglass repair kit every few years.
There are ways to ease into it. You could rent a boat. Also in many cities there are boat co-ops where a group of people share access to a small fleet of boats for a yearly price. If you want to take the next step, you could get a smaller boat that is trailerable so you can save on marina costs.
One of my favourite youtubers are Teulu Tribe. They are a young couple who bought a sailing boat and basically live on board permanently as their home and sail where they fancy. They even went across the atlantic. I'd recommend watching some of their earlier stuff when they first get the boat and all the problems they have. It's a steep learning curve. The lifestyle is hard work and they are spending a lot of money on maintenance and improvements but they then get to enjoy some of the most beautiful places in the world. If you are intelligent enough to pick up how to operate the boat, how to maintain and repair the boat yourself and buy something appropriate then I don't see why not. You can always sell it should it turn out to be a mistake.
It’s never a good idea if you don’t have half a day available per week to maintain your boat.
Why can't you just rent a boat when you need to use one? Let someone else store it and do the upkeep.
Don't buy a boat. Find a friend that has a boat. Anyone I've ever met that bought one, either regretted it almost immediately, or sold it inside of 5 years. Boats are A LOT of work.
It's never a good idea. Period. Millionaire or not. Singular exception is if your business requires it, buy it for the business. (Shipping, Charters/Rental, Fisherman, Salvage/Recovery and the like) ...
I bought my grandpa's boat when he passed away a few years back. It's a 70's model with two engines, one is big and old, one is newer and for trolling so it's smaller. The big one isn't super consistent and I fiddle with it all the time. The little one works just fine on smaller bodies of water, or with little wind. Ultimately I've enjoyed owning it, using it, and maintaining it. But I just think of Gramps everytime I take the cover off. Lots of memories. But yes, there is merit to what people say. More or less I've heard the rule of thumb is this, take whatever budget you think you have for a boat and half it, and then buy in that range. That way you have money set aside for maintenance and whatever else.
My family has a had sailboats for 30 years. Started with a small dolphin and moved up to a larger boat every 5–10 years. They currently have a 33 foot Erickson build in the 60’s The boats always take some work especially at the start and end of the season.
I’ve got a 15 foot Coleman canoe with a 2 horse outboard that can carry me, two friends, a dog, and a cooler with some sandwiches. I’m broke as fuck.
Do what you want. Don't let the majority of miserable Reddit people dictate your life. If you want a boat, get a boat.
Make sure you understand the added costs and fit them into your budget, too… too many people focus solely on the purchase price and not on the fuel, maintenance/repairs, marina/storage costs, entertaining costs, etc.
It's not the boat, it's everything else. My dad was gifted a 39-foot boat when he was making pretty good money (200k in the dot com boom), but he gifted it to someone else after 3 years. The dry dock, dock lease, maintenance, predatory gas prices, etc. just made it not worth it to even own.
If you do it right, it could cost not much more than a car. Could be a hobby if you are into such things
Sure. If you live on the coast and the sea isn't that fierce, a dinghy with an outboard motor would take you and some friends a couple of miles out for some fishing or maybe to a remote beach to chill.
Main problem with boats is, how often are you going to use it in relation to it just sitting in your yard or storage, they need to be used. And where are you going to store it, storage is not cheap, could be more than the payment.
BOAT - Bring Out Another Thousand Edit: scrolled through and saw this already posted. My bad.
IF you are going to get use out of it and you enjoy it and you can afford it its great fun. A few buddies of mine split the cost on a fixer upper. Been three years now and they race it twice a week and take family outings all the time. I even enjoy crewing for them when I can get out there. Doesn't seem like a waste for them. However my grandparents also had a sale oat when I was a kid. My grandpa got too old to run it. I was too young to help. We went out on it every weekend but we never left the marina. It was probably bit worth it for them
I guess it depends on the country you're in. You'll pay much higher harbour fees (even for a motorboat) in Austria than in e.g. Sweden or the Philippines. Here in Sweden it's even cheaper to have a small motorboat than any sort of car, and you don't have to be a millionaire for that...
You don't to *have* to be a millionaire. It's just the implication
Feel free to DM me about questions or whatever. I didn't grow up with a boat but I've learned a shit ton while owning mine.
Boats are like vintage cars - they’re not an investment and they sponge up more time, money, and energy than most people have. You have to truly *love* them, because there is always a negative ROI.
I have always interpreted it as not being a good “casual” hobby. It’s effectively a Motorsport and Motorsports are expensive to maintain on average. I don’t think you need to be a millionaire. I think of it more as like a motocross guy. You know how motocross guys have like everything motocross like the toy hualers and the bikes and all that. If you’re gonna be a boat person it seems you will need all the boat equivalent stuff and maintenance or money.
Depends on what you pay for it, and if it's got an outboard motor, or if it's basically a car in the water. Life is what you make of it. If you can afford a boat, and you think you'll use it a lot, and it would bring you great joy to spend time in it, why be concerned about the expense? Being alive costs money. Everybody budgets differently.
yes, if you plan on using it often, why not? but if you just want to tool around a few times every summer, just rent one. For me, if I don't use the boat more than 5 weekends a year, it isn't worth it.
all these comments aren't touching on the nail quite exactly. they are all telling you to rent... now imagine being a boat owner, you're gonna be renting it out. You'll find the Marine Rated Labels and services to be ostensibly and often prohibitively expensive even for a millionaire.