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How much does it cost to run a narrowboat ?


yabasayo

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I reckon something like this for a £80k 57ft boat.

 

Loss of interest on cash invested 1500

Moorings                                         2500

Insurance                                        1000

Annual accrual for maintenance   1000

Licence                                           1000

Depreciation                                   2000

 

So about £9k per year excluding running costs

 

Is that about right ? 

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6 minutes ago, yabasayo said:

I reckon something like this for a £80k 57ft boat.

 

Loss of interest on cash invested 1500

Moorings                                         2500

Insurance                                        1000

Annual accrual for maintenance   1000

Licence                                           1000

Depreciation                                   2000

 

So about £9k per year excluding running costs

 

Is that about right ? 

There are too many variables between boats and boaters so its impossible to say. One thing though is you are WAY out with the insurance.

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2 minutes ago, rusty69 said:

Oh. I though all boats appreciated these days.

 

Not once inflation is taken into account.

 

A new, average 57ft boat costs perhaps £80k. A 20 year old, average 57ft boat costs perhaps £40k. Thats £2k a year. 

 

Ohh....

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Are you talking about a fairly standard build brand new narrow boat, maybe even built for you,  bought for £80K


Or something pretty special, but second hand?

The latter will depreciate far more slowly than the former, which in the worst case is rather like buying a brand new car - as soon as you drive it away, it instantly becomes worth thousands less.

You are, I would say, at least 3 times too high for insurance.

 

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1 minute ago, Mike the Boilerman said:

 

Not once inflation is taken into account.

 

A new, average 57ft boat costs perhaps £80k. A 20 year old, average 57ft boat costs perhaps £40k. Thats £2k a year. 

 

Ohh....

.....Ohh. Ok Appreciate it.

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Our 48' NB Insurance cost us £145 & when we sold our last boat we sold it for more than we'd paid for it, so no depreciation & the profit was more than loss of interest.

 

And we had lots of priceless great times cruising the cut!

 

As a good retired GP friend of mine says, we haven't managed to cure the death bit yet so try & enjoy it between the two poles (birth & death)...money is just something that helps you enjoy life so don't worry too much about how much enjoyment costs!

Edited by Shockabilly
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1 minute ago, Shockabilly said:

Our 48' NB Insurance cost us £145 & when we sold our last boat we sold it for more than we'd paid for it, so no depreciation & the profit was more than loss of interest.

 

And we had lots of great times cruising the cut!

Of the seven boats I have sold only one was for less money than I paid for it but the new one was a self fit out so I didnt lose on that otherwise new boats are a money loser nearly always.

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I was thinking of a good quality second hand boat.

 

Loss of interest on cash invested 1500

Moorings                                         2500

Insurance                                         250

Annual accrual for maintenance   2000

Licence                                           1000

Depreciation                                   2500

 

£10k then seems like a reasonable approximation.

£200 / week, every week of the year. Not cheap then.

 

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6 minutes ago, yabasayo said:

I was thinking of a good quality second hand boat.

 

Loss of interest on cash invested 1500

Moorings                                         2500

Insurance                                         250

Annual accrual for maintenance   2000

Licence                                           1000

Depreciation                                   2500

 

£10k then seems like a reasonable approximation.

£200 / week, every week of the year. Not cheap then.

 

Certainly between £5k & £8k

It depends on how well it has been maintained (it may need £10k spending on a new bottom)

It depends on how you intend to maintain it (spend nothing it costs nothing - but the resale value will get lower & lower and the 'big' expenditure day gets closer & closer)

 

Don't forget Fuel -  Diesel, gas, costs etc etc.

Moorings (residential ?) in the South £15k pa, in the North £2.5-£4k

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We put £100/month into the boat account, which covers insurance, license, fuel, and the like but tends to fall short on the four yearly drydock. This excludes devaluation and what could be made in invests the value elsewhere. As the boat is well maintained but now 28years old it's there or there about flat-lined in value. 

 

Daniel

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It costs as much as you can afford. If your budget is tight, you do without some things you may like. If you are on the very bottom, you do things that only need doing. If you're flush, you get the best paint job, latest charger/inverter/huge battery bank to create your floating bespoke home. If really rich, you buy a Hudson, complete with butler to attend your every need.

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As i shut the boat down for the winter i spent nearly 400 just on stuff that had failed within its warranty period.

 

Namely a new battery charger ( died on being introduced to mains power for first time since april) a new bilge pump , and  spare lifter. The boat isnt complicated and i buy reasonable quality stuff but it fails regularly.

these are the bits that suddenly increase your costs. Modern leisure stuff is built to fail as generaly it is a discretionary purchase.

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I compare the boat costs to smoking and drinking. 

Packet of cigarettes a day, & a pint of beer a day. 

For us the the boat pleasure far far outweighs the cost.  No coughing, no thick head. 

£13 a day each, is £9490

 

Bod

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This is a bit like those 'How much it costs to have a baby' etc. We had 3 children,  according to those 'how much does it cost' stories it cost us about twice our income. Its much the same as running a boat. Learn to do everything yourself and chuck out at least half of the complicated electrical stuff and just have fun doing the actual boating bit.

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10 minutes ago, Bee said:

Learn to do everything yourself and chuck out at least half of the complicated electrical stuff and just have fun doing the actual boating bit

 

Seconded. 

 

Proper boating does not even require 240Vac. 12Vdc does everything necessary. 

 

Awaits incoming... ?

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Just now, Mike the Boilerman said:

 

Yes. 

 

All other boating is weird. 

Only narrowboats are weird, everywhere else boats are normal.   If you are a proper narrowboater you’ll have a horse pulled narrowboat non of this modern engine crap.

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10 hours ago, Ex Brummie said:

It costs as much as you can afford. If your budget is tight, you do without some things you may like. If you are on the very bottom, you do things that only need doing. If you're flush, you get the best paint job, latest charger/inverter/huge battery bank to create your floating bespoke home. If really rich, you buy a Hudson, complete with butler to attend your every need.

I owned a Hudson and am far far from rich, it was a four year old banger when I bought it though. Other than that I think you are spot on. It realy is an impossible question to answer apart from its not cheap and if its to live on stay in a house its cheaper if you are not absolutely in love with living on a boat.

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