How much does it cost to run a narrowboat ?

[Tanglewood]

I sometimes feel that owning a boat is like standing on the bank and throwing money into the cut - but you get much more pleasure (i.e. life enhancing quality)  out of owning a boat. Those who live on boats do not get the one thing that we weekend boaters get, and that is the feeling of release after 20 minutes of cruising.  Mind you perhaps living on a boat protects you from the hassles of house-living

[mrsmelly]

4 minutes ago, Tanglewood said:

I sometimes feel that owning a boat is like standing on the bank and throwing money into the cut - but you get much more pleasure (i.e. life enhancing quality)  out of owning a boat. Those who live on boats do not get the one thing that we weekend boaters get, and that is the feeling of release after 20 minutes of cruising.  Mind you perhaps living on a boat protects you from the hassles of house-living

For most of our first twenty years living aboard we owned houses which we used for days off and holidays in Cornwall. Living on the boat was always preferable so we binned the house in 2007 and havnt owned one since. Even though it was paid for as we didnt use it much it was always a bit of hassle owning it. Living on the boat full time is way, way preferable to the house. Just spent two nights in one at my old mums and couldnt wait to get back onboard. However I have met literaly hundreds of people over our liveaboard time that simply didnt like the liveaboard life or understand it and moved quickly back on land so you real realy do have to like it or its going to end in tears.

[Gareth E]

Just now, mrsmelly said:

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.

Sorry chap don't agree. Even if you own a house outright you'll be paying at least £2K in council tax, gas and electric and t.v. licence, probably more like £2.5K. If you don't have a mooring for your boat the equivalent costs will be lower, and houses need maintaining too. 

[Mike Todd]

4 hours ago, Phil Ambrose said:

Not sure about the figures, if £200 a week were correct I can't see how I lived on my pension.

In my mind I never considered depreciation nor loss of interest but instead revelled in being on the water......priceless

Phil

As always, the term 'cost' is a very wide notion. If you want to pitch it low then you quote the marginal or running costs but if you want to make it look expensive then bung in everything including depreciation. If you have bought a reasonable boat and are living on a pension then depreciation is not especially relevant. In fact it only really matters if you are an investor (such as those that support some hire operations) Unless, perhaps, you have very demanding  heirs who insist that you maximise your legacy estate to the detriment of enjoying your life right now.

[Mad Harold]

4 hours ago, mrsmelly said:

it was a four year old banger

A banger??   At four years old it's nearly new!

Mine is forty years old .How would you describe my boat?    A rusty stain in a breaker's yard? A banger x 10?

It's ok actually,floats and goes and it's never been overplated.  [yet]

[Mad Harold]

5 hours 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.

Agree entirely. Gizmos it hasn't got won't go wrong.

Less time spent  "spannerin" or having to pay a yard, [£46 per hour plus VAT] at my mooring. Means more boating time.

 

[Providing the locks are open and enough water in the canal]

[mrsmelly]

44 minutes ago, Mad Harold said:

A banger??   At four years old it's nearly new!

Mine is forty years old .How would you describe my boat?    A rusty stain in a breaker's yard? A banger x 10?

It's ok actually,floats and goes and it's never been overplated.  [yet]

Yeah I know it was nearly new. It was in superb condition when I bought it as well having been looked after from new by the forum owner who had it built. A great quality boat but not my faveourite so far, that was a Horsley Quenet that we owned plus I luv this colecraft shelled offering we have at present.

[cuthound]

The maintenance costs are very lumpy.

 

I bought my boat nearly 5 years ago and maintenance has cost between £50 and £700 per year to date.

 

However, next year it need blacking (epoxy blacking from new) and a professional repaint, plus a propellor change, so I'm not expecting any change from £10,000. ?

[Momac]

23 hours ago, yabasayo said:

 

Loss of interest on cash invested 1500

 

Is that about right ? 

Add back the the the therapeutic  value from boating and you will be in profit.

[nebulae]

A new boat carries V.A.T. at 20%. Unless it is a hire boat with a V.A.T. registered owner,that money has gone as soon as you complete the purchase. £20,000 present to the government on a £100,000 boat(unless it is a houseboat). I suppose,if you are lucky to be buying a new boat,this is your biggest cost in the first couple of years ownership.

[MtB]

10 minutes ago, nebulae said:

£20,000 present to the government on a £100,000 boat(unless it is a houseboat).

 

Not really. A £20,000 contribution to the costs of running the NHS, defending the realm, and/or edumacating the next generation would be more accurate. 

 

Do you resent paying for these things?