Different sort of setup but I own a 22ft Freeman River cruiser that cost me 8K and has nil depreciation. I do all the maintenence on it myself. Its at a river based marina with minimal facilities. I've just worked out that mooring fee, River licence, insurance , maintenance but excluding fuel it cost me £1400 in total to have it for the year...I can justify that because of the pleasure and well being I get from it...Your figures even if I could afford it I couldnt justify it unless I was using it virtually every day!
I don't consider depreciation as I bought my boat outright. The money is gone. It's a sunk cost. If I was buying a boat every 2-3 years then yes there would be a depreciation cost if it was a business.
Thats all good advice, however, how about the equivalent if staying away hotels etc compared to the boat already paid for? Also, the positive cost back for enjoyment ? £100 per week, you can blow that easily on a good meal out?
Had 22 foot open cobra launch, used to keep on council tidal mud mooring for £4 a year, that was back in the 80s, they still are the cheapest about, £11 a year now.
The man is absolutely right - owning a boat that is not part of a business makes no sense - BUT - for many, owning a boat is an emotional decision, albeit an irrational one … some people spend too much money on their other emotional attachments [of whatever sex or kind 🤣🤣🤣].
You say depreciation but that's not a cost where you have to spend money? The only time you count depreciation is if you're putting that amount away each year in order to buy a new one.
Different sort of setup but I own a 22ft Freeman River cruiser that cost me 8K and has nil depreciation. I do all the maintenence on it myself. Its at a river based marina with minimal facilities. I've just worked out that mooring fee, River licence, insurance , maintenance but excluding fuel it cost me £1400 in total to have it for the year...I can justify that because of the pleasure and well being I get from it...Your figures even if I could afford it I couldnt justify it unless I was using it virtually every day!
I don't consider depreciation as I bought my boat outright. The money is gone. It's a sunk cost. If I was buying a boat every 2-3 years then yes there would be a depreciation cost if it was a business.
Thats all good advice, however, how about the equivalent if staying away hotels etc compared to the boat already paid for? Also, the positive cost back for enjoyment ? £100 per week, you can blow that easily on a good meal out?
worth every penny
Had 22 foot open cobra launch, used to keep on council tidal mud mooring for £4 a year, that was back in the 80s, they still are the cheapest about, £11 a year now.
Why are you including "depreciation" in these figures?
The man is absolutely right - owning a boat that is not part of a business makes no sense - BUT - for many, owning a boat is an emotional decision, albeit an irrational one … some people spend too much money on their other emotional attachments [of whatever sex or kind 🤣🤣🤣].
You say depreciation but that's not a cost where you have to spend money? The only time you count depreciation is if you're putting that amount away each year in order to buy a new one.
A boat is a hole in the water to chuck money in. My local marina probably has 60% of them for sale at any one time.
That was very good. thank you
Glad you enjoyed it!
100 pounds a week for a floating cottage on the water, that’s a steal
you are well over the top with that. Talk about put people off.
Lets be honest this is owning a boat if you have money to burn.