Monthly Costs
Some marinas will allow you to pay your slip fees monthly, others seasonally. Clubs may require annual payments. This depends on the type of facility and geographic location. While the average cost may be as stated in the spreadsheet, some of these costs might be assessed initially in a lump sum. My goal is to create a line item for you to consider.
Monthly Cost Comparison Table
Type of Expense
Old Woody 40’
Rafthouse 40’
Mini Sail 30’
Speedy 40’
Big Sail 45’
Boat Payment(P+I)
$0
$0
$270
$1,158
$1,158
Except for Old Woody and Rafthouse, which were purchased with cash, the remaining loans assume a traditional payoff (including principal + interest) at 10% interest over 20 years. Bear in mind that maximum boat loans are often no more than 20 years, and interest rates tend to be quite a bit higher than for loans of real estate because of the “luxury” nature of the activity and higher risk to the lender.
Insurance
$0
$0
$100
$200
$200
Old Woody and Rafthouse are likely not insurable. The other boats assume annual payments of $1,200 for Mini Sail and $2,400 for Speedy and Big Sail. Insurance is typically a bit higher for liveaboards than for non-liveaboards. Also, marinas might require that all boats have insurance, which could create a problem for Old Woody and Rafthouse.
Slip Fees
$267
$267
$325
$433
$488
Assume $100 per foot for the summer season and $30 per foot for the winter season or $130 per foot for the year except for Old Woody and Rafthouse, whose owners have elected to stay at a more economical marina that charges $80 per foot for the year. Some marinas charge for the seasons in one lump sum before the season commences, and others will allow you to pay periodically or monthly.
Municipal Taxes
$0
$0
$0
$0
$0
Some marinas pass along their taxes to the slip holders or owners. In these cases, no taxes are assumed.
Utilities
$150
$150
$75
$175
$175
I pay my electric bill for the winter months but am not charged utilities for the summer months. We’ll assume that every boat is subjected to this same cost structure, with our 40+ footers paying higher monthly utilities primarily due to added heating costs, but also the likelihood of higher-consumption equipment such as a/c units aboard.
Water
$0
$0
$0
$0
$0
Marinas in water conservation areas, such as islands where fresh water is metered and sold at a premium, will often charge their slip owners for water usage. Water is metered at each individual boat slip, and because of the high cost of water, water use is kept under lock and key. Don’t let your neighbor catch you taking a drink from his hose! Most marinas do not charge for water usage, so for this table we are assuming that no boat is charged this expense.
Telephone/Cellphone
$65
$65
$65
$65
$65
I have a cell phone, typical for most liveaboards. Telephone service would cost about the same, but since I would end up also having a cell phone, my bill would be doubled. Satellite communications systems offer a wide variety of fee schedules, but since I am a coastal cruiser, I am not in need of any other type of communication system. We’ll assume that everyone decides to use only a cell phone.
Internet
$20
$20
$40
$40
$40
I use my cell phone to connect my laptop computer to the Internet via a traditional dial-up connection. Depending on your marina and service providers, you may connect through a telephone line (DSL or dial-up) or cable (broadband). Each may have higher fees. Regular dial-up service costs approximately $20 per month, depending on the service; DSL and broadband service cost approximately $40 per month in the New England area. We’ll assume that everyone wants Internet service, and everyone except for Old Woody and Rafthouse decides to pay for broadband Internet service. There are other options as well (see “Amenities”).
Sat/Comm or Remote Communication Systems
$0
$0
$0
$0
$0
For our purposes, we are assuming that our liveaboards are dockbound or coastal cruisers, who make up the vast majority of liveaboards. For those of us who venture offshore, there will be added communication costs, whether it be satellite cell phones and plans, SSB e-mail, satellite telephone systems, or satellite entertainment systems.
Cable TV
$0
$0
$40
$40
$40
I have a simple hoist antenna for reception. I think that cable TV can be run to the boat for approximately $40 per month for the most basic plan. We’ll assume that everyone except Old Woody and Rafthouse decides to pay for cable TV.
Parking
$60
$60
$60
$60
$60
My marina charges a fee of $60 per month for parking privileges. We’ll assume that all boat owners are subject to this cost.
Storage
$0
$0
$100
$100
$100
I pay a significant amount for a storage container that is temperature- and humidity-regulated and big enough for my furniture and other possessions. We’ll assume that everyone has a storage facility except for Old Woody and Rafthouse.
Total Monthly Cost:
$562
$562
$1,075
$2,271
$2,326
Total Annual Cost:
$6,744
$6,744
$12,900
$27,252
$27,912
Observations: There are quite a few personal preference items here. Liveaboards who are more cost-sensitive, such as Old Woody and Rafthouse, are more likely to do without cable TV or high-speed Internet, while less cost-sensitive liveaboards might desire some of these amenities. Liveaboards who work aboard may need these types of services.
We’re starting to see the cost of luxury, with key differences now occurring—monthly boat payments aside—in marina costs, insurance costs, and storage fees.
How are we doing? Remember the sunsets and water lapping against the hull and trips to the islands. Stay focused, people!
Seasonal Costs
Now let’s explore costs that are assessed annually or associated with using the boat during a cruising season. In cold climates, we have a defined “boating season,” which means that cold-climate boaters need to prepare their boats for use in the summer and prepare for cold weather in the winter as the temperature drops to a point where “normal” boaters actually pull their boat out of the water for the winter—paying, of course, fees for hauling and dry storage. Liveaboards tough it out, since our boats are our homes, but we still have to protect our engines and water systems from freezing temperatures. In climates that do not freeze, some of these expenses, such as shrinkwrapping and engine commissioning/decommissioning, can be avoided.
Seasonal Cost Comparison Table
Type of Expense
Old Woody 40’
Rafthouse 40’
Mini Sail 30’
Speedy 40’
Big Sail 45’
Annual Registration Fees
$30
$0
$30
$0
$0
This is my annual fee, which varies by type of r
egistration and geographic location. Some states require registration even if documented with the U.S.C.G. (CT for example). There is no C.G. documentation renewal fee.
Annual Licensing/
Use Fees
$0
$0
$0
$0
$0
This is a luxury item. I pay a fee of $6/foot for a mooring that I like to use in a favorite harbor. If you have a lobster license, fishing license, or some other type of license, this might be a good place to add those fees as well. We’ll assume that no boat owner incurs these types of fees.
Annual Property/
Excise Tax
$20
$20
$75
$140
$140
Another fee in many states—in Massachusetts this fee is based on the value of the boat.
Type of Expense
Old Woody 40’
Rafthouse 40’
Mini Sail 30’
Speedy40’
Big Sail 45’
Routine
Maintenance
$500
$500
$2,000
$5,000
$5,000
An average 40-foot cruising boat has about $100,000 worth of replaceable equipment—engine(s), steering gear, spars, standing rigging, running rigging, plumbing, electronics, electrical infrastructure, canvas, upholstery, docking and anchoring gear, and winches and sails for a sailboat—all of which last, on average, about 10 years. Continuing with rough estimates and averages, every year a boat owner should expect to maintain, replace, or upgrade an average of 10 percent of the purchase price of this replaceable equipment. That’s $10,000 per year, even on a boat that had a selling price of less than $100,000. We’re assuming that Old Woody and Rafthouse are not investing in their boats, and that Mini Sail is replacing the gear that is breaking. Speedy and Big Sail are putting $5,000 per year into their boats, but my number is potentially significantly lower than the actual amount being expended. Bear in mind that sail service can cost $400, new sails costing from $1,500 to $5,000 alone; new winches can cost thousands (winch service alone can run $200/winch x 5 or more winches). Engine overhauls can cost thousands, with new performance engines costing $20,000+ with installation.
Commissioning
Expense
$0
$0
$300
$800
$300
Known as “commissioning” the boat, this is the cost for preparing the boat for use. In a cold climate area this must be done annually in preparation for the warmer seasons. The fee typically includes flushing out antifreeze; cleaning and flushing the fresh-water systems; and changing oil, filters, impellers, belts, and any other equipment that needs changing. This fee can be entirely avoided in moderate to warm climates, although the routine maintenance embedded in this fee cannot. There is no fee for Old Woody and Rafthouse, as their primary responsibility is to pump fresh water through their systems to replace added antifreeze.
Decommissioning
Expense
$0
$0
$250
$700
$250
Known as “decommissioning” the boat, this is the cost to take the boat out of service and, for cold climate lieaboards, to prepare her for the impending cold climate. This fee can be entirely avoided in moderate to warm climates. There is no fee for Old Woody or Rafthouse, as we have assumed that neither has an operational engine. Their primary responsibility is to pump fresh water through their systems to replace added antifreeze.
Hauls/Wash/Launch
$0
$0
$495
$635
$705
Explanation: Local lifts in my area are now charging between $11 and $15 per foot for the haul, wash, and launch; they will allow the boat to be kept on the hard (on land) for a weekend to allow for bottom painting and out-of-the-water maintenance. We’ll assume a fee of $14 per foot. Of course, the two dockbound boats do not need haulouts except on rare occasions. We’ll also include a diver at $75 a season to change zincs and scrub the hull.
Bottom Painting
$0
$0
$1,000
$1,400
$1,500
Explanation: Some boat owners paint every year, others every other year, and some hold out for five years or longer. Boats exposed to salt water or heavy conditions require service more often. Reduce your number accordingly to the extent that your average cost is diminished. This represents the cost of the paint and the fee charged by the marina (estimating a fee of $20 per foot + $400 in materials for Mini Sail and $600 in materials for Speedy and Big Sail). If you decide to perform this service yourself, you will need to pay the marina for land storage, but you will avoid labor costs.
Winter Shrink-
wrapping
$780
$0
$610
$780
$865
This is another cold-climate expense that can be avoided in warmer climates, though it’s essential for comfort during the freezing cold months. My shrinkwrapper charges me $17/foot for the frame and shrinkwrap and $100 for the door. One year I did this myself; the equipment and shrinkwrapping gun cost me approximately $135, while the wood for the frame cost another $40 or so. Rafthouse does not need to shrinkwrap, as many floating houses contain insulation and thermopane windows just like a land-based house.
Liveaboard Fees
$480
$480
$480
$480
$480
Marinas charge various fees for living aboard in order to help offset the costs of marina amenities (or for some extra revenue). My marina charges a fee of $80 per month during the winter months. Some marinas in Southern California charge $200 per month all year round ($2,400 annually). We’ll assume that each liveaboard pays $480 in liveaboard fees ($80 per month for six months).
Emergency Service Fee
$0
$0
$75
$75
$75
Explanation: Two local service providers, SeaTow and BoatUS, offer on-the-water towing and emergency service. I’ve definitely gotten my money’s worth.
Average Monthly Cost:
$151
$83
$443
$834
$776
Total Seasonal Cost:
$1,810
$1,000
$5,315
$10,010
$9,315
Observations: Note the number of costs related to cold-climate living. For those of you who are living or planning to live in the cold climates, now you have more reasons to know why those liveaboards in San Diego are laughing at you (us). Of course, their liveaboard fees are a bit higher.
The other major difference is the amount spent for routine maintenance. Chris Birch, who spends much of his life maintaining, repairing, and upgrading boats, says that while many owners often spend far less than 10 percent of the value of their boats in maintenance per year (as indicated by my table), a 15-year-old boat with all original equipment is running on borrowed time—and the owner may be hit with major expenses. Now we know why Chris likes to recommend that liveaboards trade in their cruising boats and squeeze themselves onto a $5,000 26-foot dockbound boat (with no head)!
Oh, and if you have a dinghy, you’ll need to maintain that, too. And if it has an engine, that’s another engine to service.
Are we done yet? Keep the faith! Reminder: margaritas on deck, scantily-clad people, barbeques, interesting neighbors, and beautiful days.
Operating Costs
This section is specific to your lifestyle, desires, and boat type. Will you travel to other marinas that charge you an additional (often outrageous) slip fee? Many liveaboards, and boaters for that matter, never take their boats away from their slip. Moorings in harbors might cost $10 per night, so going away on weekends to other harbors might cost hundreds
of dollars per season. Does your mooring or anchorage require a water taxi for transportation? If so, that might cost $5 per trip, or, in one local harbor, $400 per season. What will your fuel costs be? What about purchasing ice for those times when you are away from shore and don’t want to run your refrigeration? When you are away from home, you might want to go to more restaurants and bars. They aren’t cheap.
I spend about $100 staying in other harbors over the summer—just in mooring fees. Luckily, the moorings I travel to typically include water taxi fees, so I don’t have to use my leaking dinghy. Still, I pay about $200 in water taxi fees through the season. I spend about $200 for ice over the season, which is about 40 bags or 3-4 bags per week. My fuel consumption is very low ($100/year), since I enjoy sailing and avoid turning my engine on. I certainly enjoy a good restaurant, and get a bit carried away with steak and lobster, although I’m not going to reveal how much I spend. Luckily, my guests often bring aboard so many beverages that I almost never have to purchase any. My operating costs, excluding meals, approach $1,000 for the summer.
I know powerboaters who spend $1,000 per weekend just for fuel, never mind food and beverages. I know sailboaters who race and get a new set of $4,000 sails each season. I know couples that host very fancy meals every weekend aboard their boats and pay hundreds of dollars for wine and gourmet ingredients. My marina charges $3 per foot for a transient boat to stay the night, which makes the stay for a 40-foot boat $120 for the night, and I know boaters who visit us several weekends per year (spending upwards of $1,000 just for slip fees for visits to my marina). And I know boaters who never leave the dock, never incurring any of these types of fees. The choices of lifestyle are yours. Sample numbers might look like the chart on the facing page.
The Essentials of Living Aboard a Boat Page 10
