Narrow boat costs
Discussion
Good evening to you all.
Having hired a narrow boat a few times, I was wondering about the likely total yearly running costs of such a thing if I was to buy one, including mooring etc. Working full time, we wouldn't get many weeks' holiday but could use it for weekends, and possibly hire it to close friends and family to help with the costs.
I expect this idea to be shot down in flames as a non-starter
Having hired a narrow boat a few times, I was wondering about the likely total yearly running costs of such a thing if I was to buy one, including mooring etc. Working full time, we wouldn't get many weeks' holiday but could use it for weekends, and possibly hire it to close friends and family to help with the costs.
I expect this idea to be shot down in flames as a non-starter
Fixed costs:
1) Marina/mooring fee - usually per foot which is bad news for narrowboats. Maybe £1,000-£3,000 depending on length, river and poshness of mooring.
2) Licence - again usually per foot, maybe £500-£1,000+ depending on river system. Broads is cheapest, EA most expensive, canals somewhere in the middle I think.
3) Insurance - surprisingly cheap.
4) Maintenance - eg hull blacking, jet washing, winterising, lift-out fee if required (some you can do yourself, or build a network of useful geezers)
Variable costs:
1) Fuel - not much in the scheme of things, and you can declare a proportion for heating which lowers price.
2) Road fuel to travel to and from boat
3) Minor other bits I've probably forgotten
That's about it I think!
ETA: There is one vast difference between hiring a boat and owning one. When you hire one you feel under pressure to travel as far and fast as possible to get your moneysworth. When you own one it doesn't mattter - you can bimble up river a few miles, moor, chill out, bimble back and just enjoy getting away from the rat race whenever you feel like it.
1) Marina/mooring fee - usually per foot which is bad news for narrowboats. Maybe £1,000-£3,000 depending on length, river and poshness of mooring.
2) Licence - again usually per foot, maybe £500-£1,000+ depending on river system. Broads is cheapest, EA most expensive, canals somewhere in the middle I think.
3) Insurance - surprisingly cheap.
4) Maintenance - eg hull blacking, jet washing, winterising, lift-out fee if required (some you can do yourself, or build a network of useful geezers)
Variable costs:
1) Fuel - not much in the scheme of things, and you can declare a proportion for heating which lowers price.
2) Road fuel to travel to and from boat
3) Minor other bits I've probably forgotten
That's about it I think!
ETA: There is one vast difference between hiring a boat and owning one. When you hire one you feel under pressure to travel as far and fast as possible to get your moneysworth. When you own one it doesn't mattter - you can bimble up river a few miles, moor, chill out, bimble back and just enjoy getting away from the rat race whenever you feel like it.
Edited by Simpo Two on Friday 25th January 23:27
Thanks for the information.
Substantially more than running a second house or nice car then, especially if you factor in the 'lost interest' of the value of buying the boat in the first place, which on a £60k boat could be £2-3000 a year.
If I was to do it, it would only ever get loaned to people I know well.
Substantially more than running a second house or nice car then, especially if you factor in the 'lost interest' of the value of buying the boat in the first place, which on a £60k boat could be £2-3000 a year.
If I was to do it, it would only ever get loaned to people I know well.
cpas said:
Substantially more than running a second house or nice car then
It's the mooring fee that makes most of the difference - unless you can blag a piece of bankside somehow.cpas said:
especially if you factor in the 'lost interest' of the value of buying the boat in the first place, which on a £60k boat could be £2-3000 a year.
2.2% gross is about the best - £1,056 after tax. What would you do with it? Ah yes, spend it on a boat As for hiring to friends... on the plus side it's steel so won't be bothered by minor knocks and dings. On the minus side, it's a bit like having strangers living in your house. You may decide to keep it for yourself and just take friends out on it. And that's another nice thing about a boat. You can be a hermit if you want some peace and quiet, or you can use it as a social centre. What works well for me is to visit the boat for a day of 'me time', moor in some quiet pastoral setting in the evening and fire up a nice steak for supper, sleep over then get back to the marina (or wherever convenient) and join up with friends for a social day two.
Think about where you might keep the boat and then you can look at various moorings and know what the costs will be. Some navgations are much more expensive than others, and the shorter the boat, the cheaper it will be. Or you could consider a (shorter) cruiser, but that may not be your thing.
cpas said:
Good evening to you all.
Having hired a narrow boat a few times, I was wondering about the likely total yearly running costs of such a thing if I was to buy one, including mooring etc. Working full time, we wouldn't get many weeks' holiday but could use it for weekends, and possibly hire it to close friends and family to help with the costs.
I expect this idea to be shot down in flames as a non-starter
All in, I'd allow up to £4k a year. And if you are caught hiring it out on a standard license the C&RT will be very unhappy, as will your insurers.Having hired a narrow boat a few times, I was wondering about the likely total yearly running costs of such a thing if I was to buy one, including mooring etc. Working full time, we wouldn't get many weeks' holiday but could use it for weekends, and possibly hire it to close friends and family to help with the costs.
I expect this idea to be shot down in flames as a non-starter
Tom_C76 said:
All in, I'd allow up to £4k a year. And if you are caught hiring it out on a standard license the C&RT will be very unhappy, as will your insurers.
This ^^^^We bought a 60ft narrowboat last year, £800ish for a license. £2170 or thereabouts for mooring. Insurance is about the same as a house. We allow £5000 to cover everything plus breakdowns and dragging the thing out for blacking every 2 or 3 years. A boat safety certificate lasts 4 years (covers electrics, gas, ventilation, etc).
However as Tom said, rent it out without a BSC for a hire craft (more stringent) and appropriate insurance things might get tricky for you.
However, if you can afford it and want it, go for it! When the realisation kicks in its your own boat and you don't have to return it, your smile is huge!!!!
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