We've had our fantastic wide beam boat, Vivere, for two-and-a-half years now, and one question we're often asked is, "How much does it cost to run a boat like Vivere? In this blog, we'll break down the expenses of owning a wide beam canal boat and take a moment to ponder why we do it!
The Initial Outlay:
Of course, the first and most significant expense is the purchase of the boat itself. We purchased our 60x12 ft Collingwood wide beam canal boat, fully fitted for £140,000 in 2021. However, it's worth noting that if you're buying a new boat, the prices have risen considerably, up by around 30% in the past couple of years. The exact same boat we own, now costs around £187,000, excluding delivery charges, which could add another £3,000-£4,000 to the cost. Second-hand boats can also be quite expensive, with some five-year-old boats selling for what we paid for a new one.
The Cost of Licensing:
Licensing is another significant cost. We used to have a Thames license, which set us back around £1,500 per year. When we moved onto the Kennet and Avon Canal, we opted for a Gold Licence from the Canal and River Trust, which covers us for most canals and rivers and the price was comparable. However, while you can get a gold license covering most rivers and canals, it doesn't include those owned by the National Trust, which require separate fees.
That said the CRT has implemented raises in license fees consistently for the past two years, and they have outlined plans for additional increases over the next five years. The previous year saw an 8% rise, followed by a 9% increase this year. Controversially, there are intentions to impose a further 14% increase on top of this for the upcoming year. This amounts to a one-third increase (34% compounded increase) in just three years, with indications of more increases in the pipeline. Additionally, CRT is introducing a 'surcharge' specifically targeting boats without a home mooring and for a wider beam.
Boat Insurance:
Boat insurance is essential, and we've found it quite manageable. We use a company called Insure4Boats and pay around £390 annually for comprehensive coverage. This includes contents up to a certain value and individual items like camera equipment. It's an important expense that ensures peace of mind.
Marina Costs:
If you choose to moor your boat in a marina, be prepared for monthly costs. When we were moored on the River Thames, we paid around £700 per month. Our research showed that River Thames marina's costs come in at around £8,000 to £12,000 per year. Canal marinas can be significantly cheaper, often around half the price at around £3,000 to £5,000 per year. However, continuous cruisers may incur additional costs, such as batteries, generators, and solar panels.
Fuel Costs:
As frequent cruisers, we've spent approximately £1,300 on fuel in the past year. Fuel expenses can vary widely depending on your usage and how much time you spend cruising.
Electricity Costs:
Our yearly electricity bill for shoreline power has been around £240. We use electricity primarily when we're aboard, with the fridge and freezer running continuously. We minimize power usage when we're away.
Heating Costs:
Over a year, we've spent about £250 on heating, which includes the coal and wood used for our log burner. If you live aboard full-time, heating costs may vary, but this provides an estimate of seasonal expenses.
Additional Boat Equipment:
We spent about £1,000 on essential boat items when we first started out for things like extra ropes, chains, fenders, windlass, and life jackets. While interior expenses can vary widely, this amount covered us for the basics required for safety and functionality.
Here are the links to our favourite items:
Conclusion:
Owning a wide beam boat comes with various expenses, but it's essential to consider the specific costs related to your boat, lifestyle, and preferences. While these expenses may seem daunting, they provide access to a unique and rewarding way of life that many, including us, find incredibly fulfilling. Whether you're a liveaboard or a weekend cruiser, careful budgeting and planning can make boat ownership an enjoyable and manageable experience.
Dive deeper into the world of wide beam boat ownership by watching our informative videos on YouTube. Gain valuable insights into the financial aspects, maintenance considerations, and the overall experience of life aboard a wide beam boat. Let our videos be your visual guide to navigating the waters of boat ownership. Don't miss out – click the link to watch now!
Widebeam and Wellingtons aka:
Hayley, Richard, and our trusty puppy Twiglet, navigating life's waterways from aboard our wide beam boat Vivere. Join us on our journey as we vlog about our adventures, share boating insights, and document our scenic travels. 🚢🐾 #VivereAdventures
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Widebeam and Wellingtons
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