Have you decided to own a sailboat? Is it going to be a new or a used one? Do you want to know the prospective costs of your sailboat for each year of ownership? Then, check out this article that will explain to you some factors and details, about the ownership of a sailboat. Above all, remember that asking how much it costs to own a sailboat is like asking how much does it cost to own a home… For some people, it would be 10,000$ and for others 100,000$, so again, this depends on your needs, preferences, and lifestyle.

Cost Of Buying and Owning a Yacht

So, how much does the average sailboat cost? There are many factors that make up the price of a sailboat. These are the model, the size, the condition of the sailboat, and how often are you going to use it. The price of a new 26 feet sailboat is approximately 80,000$. On the contrary, a used sailboat would cost on average 20-30,000$. Then again the price of a new 36 feet cruiser is approximately 150,000$. However, a used cruiser costs around 40,000$. And what about the maintenance costs? Well, the annual maintenance cost is under 4,000$ for most sailboats and yachts.

Another theory to keep in mind is something that I have always heard seasoned sailors say; it costs around 10% of the boats worth to maintain each year. So, under that theory, it costs around 15,000 a year to maintain a 150,000$ boat and 30,000 to own a 300,000 boat, and so forth.

Standard Costs of Owing a Sailboat

  1. Maintenance Costs: In general, every sailboat or yacht will need a minimum of one maintenance per year, plus engine service, antifouling, or other items like replacing the anodes. Most yards display their rates for storage and haul out ashore, so you can calculate these costs in the area you live in. One useful tip is to search for summer discounts, where there’s a lower rate for up to one week onshore.
  2. Depreciation: New vessels will roughly lose around 40-50% of their initial cost over the first 8 to 10 years. Older vessels may have relatively lower depreciation of the hull and structure. However, equipment and board systems have a significant bearing on the sailboat’s value and need to be replaced every 10 years.
  3. Moorings: The place where you keep your sailboat will perform by far the biggest bearing on annual outgoings. The mooring costs depend on the area, the marina, and of course your wishes. For example, if you want full facilities on tap or just a simple mooring. For an average sailboat, the cost would be about 2,500$ per year.
  4. Equipment Replacement and Renewals: It’s important to distinguish between essential expenditure to maintain your sailboat and other amenities that you don’t really need. The equipment and renewals, also depend on your budget and preferences.
  5. Insurance: This is a cost that is rather easy to quantify in advance. Marine insurance is a competitive market, thus prices are somehow reasonable. The cost of insuring your sailboat will depend on the value of the sailboat. In general, the insurance cost might be about 1.5% of the sailboat’s value. 
  6. Fuel: This is a variable cost that changes with the number of sailboat uses. Try to figure out an approximate annual expenditure for the type of use you plan to give, as well as the annual mileage you expect to cover.
  7. Contingencies: Unexpected expenditure is taken for granted when owning a boat. It is recommended to leave some headroom in both your annual budgets. In many cases, a figure of 20% for these expenses would be reasonable.
Cost Of Owning a Boat

Are You Buying a New or a Used Sailboat?

In most cases, buying a used vessel is much cheaper than buying a brand new one. It’s the same way as it is with cars. It will certainly cost you more to buy a brand-spanking-new. Moreover, you’ll have to pay a premium and its value will depreciate just after you buy it. In essence, think about the activities that you’ll use the boat for, as well as the duration of your stay on the water. So, if you go on for a used boat check its condition state and look for a sailboat between 2 to 10 years old.

If you need to be certain about all that, then get an expert to lend you a hand. Important things that have to be checked are the engine, drivetrain, the viability of the hull, and the electrical system. Also, ask for maintenance logs and repairs that have been made in the past. Although new boats include warranties, this may not be the case for used sailboats. But make sure that you get some kind of warranty in order to rest assured if something unexpected happens, God forbid!

Popular Sailboats and Their Cost

  • Catalina 22 and 30: These models are quite affordable, depending on their year of production. You can find a used Catalina model for 2,300$ or with 70,000$. In any case, these sailboats won’t let you down when racing or sailing. They offer durability, speed, and are reliable sailboats. In addition, you can improve its functionality and customize it to your needs.
  • Contessa 26: A truly robust and seaworthy sailboat. Contessa has great performance when sailing overseas and has a relatively large cockpit for such a small boat. A well-maintained Contessa would cost you approximately 18,000$.
  • Island Packet 26: She is a monohull sailboat, spacious, and comfortable. An Island Packet 26′ will cost you around 20,000$. But let’s examine some additional costs here! Mooring would be around 400$, Insurance at 300$, Fuel at 200$, Maintenance at 2,000$, and Taxes around 1,600$. As you see, the recurring costs per year would be around 5,000$.
  • Pearson 34: This sailboat is suitable for both daysailing and extended voyages. You can find a Pearson 34 on average 20,000$. She can be handled by two people and her sails are really easy to handle. Pearson 34 is still competitive in today’s market due to her great features.
  • Nor’Sea 27: This 27 feet sailboat is quite affordable and capable of an overseas voyage. It is still in production nowadays and its price is approximately 27,000$. Even though its size is small, it can withstand different weather conditions and has a lot of features, along with its great sailing performance.

Summary – Cost Of Owning a Sailboat

Owning a sailboat is not impossible and you don’t really have to be a millionaire to buy one. Above all, you should know the type and size of the sailboat that you desire, its price, and of course, the recurring/one-time costs. So, after making a list of all these factors that are going to affect your purchase, you’re more than ready to proceed with the search for your brand-new (or used) sailboat!