Think Boating is too expensive? Think again.
Think boats are too expensive? Let’s put it in perspective.
One of my friends recently went snow skiing, so I asked them, how expensive was it? The answer surprised me. I knew it was pretty pricey, but I had no idea. The overall cost for a family of four to go to Colorado skiing for a week was right around $20,000. This included gear for each person (pants, jacket, helmet, goggles, under garments, and gloves), lodging, food, lift tickets, air fare, and a modest shopping budget for souvenirs. What did they come home with? First of all, a great vacation. Secondly, they had all of their gear. Which as we all know, might get used one more time.
How about a trip to Disney world? I have heard many estimates, but I think it’s safe to say a week long trip to Disney for a family of 4 is about $4000 – $5000. Besides a wonderful time and some cute souvenirs, what do you have after the vacation is over?
How about eating out? One Starbucks a day, every day is approximately $155/month or $1825 a year. What happens when you eat out for lunch every day? Boom, that’s $10+ a day for 20 days a month. There’s $200. That total is $355/month on just you. What about your family of four?
So what does this have to do with boating? What is the average down payment for a boat? You guessed it, $4000 – $5000. If you were to invest in a $40,000 boat, with 10% down, your monthly payment would be around $300/month. To sum it up, the first year you own the boat, note the word OWN, your out of pocket would be about $7600. The second year it would go down to $3600.
Every weekend is like a vacation when you own a boat. It’s time with your family that will make memories. We live in the South which gives us the advantage of year-round boating. An added bonus is you get to sleep in your own bed after a day or evening on the water!
To drive it home even more, say you want to get out of boating after a few years. When you sell your boat you can recoup some of your investment.
Can you really say boating is too expensive? I can’t.