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Sailing yacht running costs: how to save expenses

November 04, 2023

“Is sailing an expensive hobby?” Maybe this question brought you to this website. Well, when it comes to boat ownership, the iceberg analogy still holds true: the initial purchase price is just the tip, while a basket full of additional costs lurks beneath the surface.

Yet, with diligent financial planning and savvy economising strategies, these can be effectively managed and need not become a daunting prospect. If you are currently looking into the prospect of becoming a sailboat owner, ask your local dealer: he is the one with a wide range of experience, having worked with no-limit upfront prices as well as with strictly limited customer budgets. He will gladly answer your questions and give an essential guide in planning your ownership.

This guide breaks down the financial aspects of owning a sailing boat and provides a look at each expense. We will reveal potential hidden figures and set realistic expectations for the overall investment. Our cost-saving tips and strategies shared by real yacht owners will hopefully provide a better overall picture, enabling you to navigate these waters and keep your dreams afloat. Buying a sailboat without sinking your budget? Let´s start...

How your initial boat purchase will effect running costs

Bigger is more expensive: The impact of sailboat size, type, and material on ongoing costs

Let´s start with an easy one: of course will the size, type, and material of your yacht be key factors influencing the ongoing sailing costs. While a bigger boat often means more comfort, more sail area and fun, it comes with a price. Running costs are increasing. As a rule of thumb, for boats up to 40 feet, these costs rise linearly. For yachts bigger than 40 or 45 feet, the costs with rise more steeply.

Here is how:

  • Boat size: Larger boats naturally command higher prices for all services applied. They also incur greater maintenance, storage, and operational costs. Parts and equipment are often of higher quality, are more complicated to maintain or are generally more advanced, making it a surplus cost factor. Smaller boats tend to be simplier, easier to maintain and to work with, hence cost will go down.

  • Type of boat: The variety of sailing yachts - from simple day sailers to luxurious cruising yachts - means a wide price range and corresponding differences in upkeep costs. For instance, a smal day sailer typically requires less maintenance as it is just a sailboat equipped for a quick dash out. No electronics, no amenities, no frills. Conversely, the big exploration yacht or luxury sailboat with its advanced navigation systems and various amenities for creating onboard comforts will generally demand more in terms of both routine maintenance and potential repairs.

  • Material of the boat: The choice between various fibreglass qualities like polyester, vinylester or epoxy, the different levels of manufacturing processes like hand lamination or vacuum infusion, and other boat-building materials such as aluminium, carbon and even wood will greatly affect not just the purchase price but also future repair and maintenance costs. All these materials have different properties, durability and upkeep needs. Over time, every material will deteriorate in some form. For used boats the stresses gained over time may have left a mark.

PRO Tip: Fibreglass/polyester boats are the most cost-efficient for build and maintenance and the best choice for a cost-sensitive boat buyer.

New sailboat vs. used boat: a cost-benefit analysis

Let´s not look at the initial purchase price but rather at your the decision to buy a new or a used boat. Because this decision will significantly influence the subsequent yacht running costs. Of course, as each option has its pros and cons in terms of cost, quality, and equipment included, you might consider these perspectives:

  • Buying a brand new yacht: While this option is pricier, it provides state-of-the-art equipment and ensures a boat in mint condition. Your new yacht will be built according to your individual specification, sporting your favourite colors, materials, and equipment. Do not underestimate that a new boat is protected under warranty and your dealer as well as the producing company are there to help. Unlike buying a used boat: this has been customised with someone else's choices and most likely no warranty will be active anymore.

  • Buying a used boat: While used boats often come with a bargain, they may have higher maintenance costs due to wear and tear. That´s the price of being more affordable upfront. Also, previous owners may have made improvements or modifications, which can add value that lasts beyond the initial purchase or, when applied rather amateurishly, make for some serious downgrades.

Comparison of two boats side by side

Should you go for a pre-purchase survey of your sailboat?

Simple and short answer: Yes, please! Don't regard a pre-purchase survey as an additional expense but as a crucial part of the process of buying a sailboat. If done by a professional, possibly certified surveyor, such a detailed evaluation can highlight possible issues or requisite repairs, which might not only influence the upfront price to be paid for your boat, but also substantially influence ownership costs over time. A boat survey is crucial when buying used, as it can uncover hidden issues. Even with new boats, however, a survey can offer peace of mind and confirm the condition and value of the vessel.

Cost-Saving Tip #1Don´t buy blind: Make informed choices

As much as you are in love with your dream yacht, conduct thorough market research before buying! Even when purchasing new yachts. Negotiate prices using insights from guides, forums, and brokerage sites. Never skip a pre-purchase survey; it can reveal issues that provide bargaining power, potentially lowering both your upfront and future sailing costs.

Ongoing boat running costs

It doesn´t stop at the upfront price. The fun starts when the boat is delivered to you. Now that you've found a way to finance the initial cost of your sailboat, it's time to budget for the ongoing expenses. Here's what to consider:

How much are sailboat maintenance costs?

Routine maintenance is not a burden, it is an essential part of boat ownership. A thoroughly maintained boat makes sure you and your family are sailing safely. Maintenance will prevent technical fatigue, catastrophic developments following wear and tear (think of your standing rigging) and also keep up the value of your yacht. Maintenance includes not only the structural and technical parts of your yacht, but also frequent cleaning, servicing sails and rigging and upgrading of your boat. Although clear numbers can very greatly, as a rule of thumb, expect annual costs of 5 to 8% of the upfront purchase price of your new yacht. It's strongly advised to adhere to the manufacturer´s service recommendations, at least have a thorough check-up annually.

While you can opt for a DIY approach, starting from a certain size and complexity of the boat, it is advisable to hire professional assistance. While the former can save money initially, professionals not only provide a thorough job, but often offer a warranty, potentially safeguarding against future costly repairs. Some repair jobs must not be done by yourself, compromising warranties or safety regulations.

Cost-Saving Tip #2Invest in regular boat maintenance

Regular maintenance can prevent more significant issues with your yacht down the line. Consider learning basic maintenance skills to save on professional service costs, rely on professionals when it comes to the delicate jobs. Remember, a well-maintained boat has a higher resale value – so keep a full documentation on everything that is done.

Is yacht berthing and storage for sailboats expensive?

Again, we cannot give definitive numbers. What can be said with sure clarity is that mooring fees fluctuate considerably depending on location and season: there´s so much potential for a bargain! The easy part is research. As most marinas usually charge on a per-metre basis, an internet sweep and a few calls or e-mails can provide quick enlightening. Keep in mind that popular coastal spots during peak season can be pricey, whereas inland marinas might offer more affordable rates.

Longer transition times into the open sea may be a downside, if it saves considerably, why not? Same goes for dry storage and winter storage of your boat. This becomes essential the more north the location of your yacht is. The cost of such facilities also varies widely, factoring in aspects like security at the venue, possible climate control in the winter storage halls, and accessibility.

Cost-Saving Tip #3Save in off-season berthing

Consider off-season berthing or mooring options, which are often significantly cheaper than peak season rates. Marina life may be a highlight, but if your berth is just a “parking lot” for you (like a car park), you may opt for simple, off-grid marina potentially saving lots of money.

Bargain on sailboat insurance?

There are indeed big differences in premiums and insurance costs from one insurer to the other. Generally, we would not encourage to go for the cheapest offer: your boat´s protection should be a prime objective. Nevertheless, check different offers (and the conditions) to determine the best insurance for your boat, possibly with a cost saving effect.

Sailboat insurance costs depend on several factors, including boat value, owner's experience, and sailing area. Coverage varies across policies but generally includes hull, machinery, equipment, and third-party liability - with additional options such as coverage for personal effects on the boat or environmental damage liability may be available. One detail is very important: some companies offer agreed-value policies that guarantee the insured amount rather than actual cash-value policies that factor in depreciation. This can significantly impact your financial protection in the event of a loss!

Cost-Saving Tip #4Check for boat insurance discounts

Look for insurers who offer discounts for experience, sailing qualifications, or choosing a higher excess. A no-claim bonus can also reduce your premium. Don´t fall for big bargains, which may be financed by less protection or too many exemptions.

Day to day budget: Operational cost of a sailboat

The operational costs of yacht ownership extend to provisions and essential equipment's inevitable wear and tear. A good example are your boat´s ropes, which face deterioration from elements such as UV radiation and salt water, thus requiring regular replacement. Similarly, your yacht´s sails are subjected to wind stress and variable weather conditions. As such, they demand frequent inspections for repairs or, over time, complete replacement.

Fuel costs for your auxiliary engine will also be a regular expense. These can vary widely and are influenced by factors such as the size and efficiency of your engine, how often and in what conditions you're sailing, and the current fuel prices in your sailing area.

While some of theses costs are inevitable and will occur for sure, others may be lessened or postponed by smart sailing, fuel efficient motoring and a stress-free code of conduct.

Cost-Saving Tip #5Higher efficiency – lower costs

Optimise your sailing technique for wind conditions to minimise reliance on the engine, saving fuel costs. Sail smart, reduce stress in the rigging, don´t sail into the “red sector”.

Expensive sailing training and skipper licences?

Optaining a proper trailing and qualifications should be a matter of course for a proper skipper. Obtaining these necessary sailing qualifications and licences of course comes with associated costs, which are crucial investments in your safety and legal compliance. Options range from practical approaches such as the Royal Yachting Association (RYA) Competent Crew and Day Skipper courses to theory-based programs like the Yachtmaster Offshore and Ocean exam. Not only do these certifications equip you with essential sailing skills, they are often required for insuring your vessel and can be beneficial in reducing your insurance premium. Apart from these considerations, acquiring any licence is a boost for your confidence as a rookie skipper and a reassurance for onboard guests.

Sailing membership fees

While not a necessity, memberships in yacht clubs and sailing associations can elevate your boating experience, providing access to exclusive facilities, events, and a like-minded community. Benefits often extend beyond social aspects, offering resources for education, training, and even discounts on insurance and mooring fees. Typical costs of memberships can range widely based on the prestige and services of the club or association, but they're generally considered a valuable investment for the committed sailor. Be aware that often membership in a yacht club can reduce berthing costs significantly.

Cost-Saving Tip #6Save on group training sailing courses

Consider group training courses, which are often cheaper than private lessons. These can also be more fun and may be the start of your skipper´s network.

More than a unloved task: Boat cleaning and safety equipment

Caring for your sailing yacht goes beyond mere aesthetics; it's about safeguarding your investment. Regular cleaning preserves the boat's appearance and prevents long-term damage caused by corrosive saltwater and UV exposure. A thorough fresh water splash after homecoming should be done regularly. Cleansing and rinsing off the saltwater will keep the Gelcoat and wooden surfaces clean and prevent deterioration. Have your boat polished and sealed with special waxes at least at the start of the season. You may employ professional yacht cleaning services every two or three years to restore the “like new” looks of your boat.

Similarly, investing in essential safety equipment like high-quality automatic lifejackets, flares, and decently sized fire extinguishers is non-negotiable. These items ensure you're prepared for emergency situations at sea, thereby providing peace of mind for both you, your crew and your guests.

Cost-Saving Tip #7Regular cleaning pays off

Regular cleaning can prevent the build-up of grime and marine growth, leading to lower maintenance costs in the long run. It also keeps up a “like new” look, surely contributing to a higher resale value.

Often overlooked: Regulatory yacht running costs

This aspect of yacht ownership is often neglected, but can add up depending on your sailing habits and chosen locations. Depending on the type of water activities you pursue, you may need boating permits or fishing licences. In addition, certain waterways might impose their own fees - all of which are influenced by factors such as your boat size, the time of year, or your stay duration. A thorough research will make for clarity and prevent you from potential penalties.

Cost-Saving Tip #8Plan ahead

Thoroughly research permit and licensing costs for your intended sailing area. Planning your routes can also help avoid unexpected fees.

Summing up: sailboat running cost saving tips

  1. Make informed choices: Utilise market insights to negotiate prices and always conduct a pre-purchase survey for potential bargaining power.

  2. Invest in regular maintenance: Regular maintenance can help prevent bigger issues and increase the resale value of your boat. It will raise the level of safety aboard and is a sign of good seamanship.

  3. Off-season berthing: Consider off-season berthing or mooring options for cost efficiency. Check marinas in off-prime locations or located more inland.

  4. Insurance discounts: Opt for insurers offering discounts for experience, qualifications, or higher excess. A no-claim bonus can also lower your premium.

  5. Energy efficiency: Minimise reliance on the engine by optimising your sailing technique, reducing fuel costs.

  6. Group training: Opt for group training courses which are usually cheaper than private lessons.

  7. Regular cleaning: Regular cleaning prevents grime and marine growth build-up, lowering maintenance costs over time.

  8. Plan ahead: Research permit and licensing costs thoroughly for your intended sailing area and plan your routes to avoid unexpected fees.

checklist in front of a sailing yacht

The “just in case”-account: Emergency costs

Now that we have worked our way through the obvious budgets needed to keep your sailing hobby afloat, here´s an often neglected topic. We know that it's tempting to ignore or underestimate the significance of optional and emergency expenses. After all, with a state-of-the-art yacht and insurance cover, what could possibly go wrong?

Well, many things can go wrong, actually! Prudence dictates that we plan for the unexpected and acknowledge that mother nature may have an unpleasant surprise for us. If not this, then even the most luxurious sailing boat might need an upgrade here or there. Moreover, emergencies, while rare, can occur, and insurance doesn't always cover everything. So it is advisable to arrange for an “just in case”-account or budget. Depending on your boat´s type and your sailing program, the budget allocated on such an account may range from a several hundred to a sum that could pay for the most expensive part of your sailboat that can break down. This is usually the engine or the rigging – a precaution often done by circumnavigators. Having such a budget certainly makes for peace of mind when sailing, as you can be sure that you will be able to take care of any unexpected circumstance.

Arrange for emergency contingencies while sailing

Unexpected scenarios can surface at any point during your sailing journey, making a contingency fund an essential part of responsible yacht ownership. From minor technical glitches to significant mechanical breakdowns, these unforeseen yacht running costs can spiral if not planned for.

Remember, even the most comprehensive insurance policy may not cover every eventuality - the small print often excludes certain damages, and excess fees can be hefty. For instance, services like towing and emergency assistance might not be included in your coverage, but the potential expenditure, if required, could be significant.

Boat upgrades and customisation

Upgrades and customisations can vary greatly, uniquely tailored to individual tastes and sailing needs. Whether you prioritise technology updates, more comfort, higher performance or simply desire a personal touch, enhancements can drastically elevate your yachting experience. Here are some prevalent choices among new sailing boat owners:

  • Sailboat electronics upgrades: Amplified navigations, upgraded autopilot techniques, or advanced entertainment systems can elevate the sailing experience. Also, energy storage systems, like state-of-the-art lithium-ion battery banks, solar panels and even fuel cell-systems might improve your boat significantly, but drain your budgetary potentials as well.

  • Sail upgrades: While high grade laminate sails can improve the yacht's speed and handling, triradial cruising sails may be a cost-effective option for long haul sailing. Light wind sails like Code 0, Gennakers or AWA-sails will significantly improve light wind sailing performance. Check for “performance life” of the new sails, as most sailors want to have a long-lasting sail rather than a racing-skipper, who wants an all-out high-performance sail, with a usually lower performance-life.

  • Engine upgrade: A more powerful or fuel-efficient engine could significantly enhance your sailing experience. Also, consider new technologies like all-electric propulsion or hybrid-drives. Make sure that those upgrades are strictly done by professionals and check before if the warranty and CE of your boat isn´t compromised.

  • Deck enhancements: Additions like solar panels, wind generators, or upgraded electric winches can improve self-sufficiency and ease of handling. Make sure that each improvement is done according to the boat´s specifications and structural allowances.

  • Hull painting or covering: A fresh coat of paint or covering with adhesive stickers in many colours not only gives the yacht a new look but can also add to its value. While a painted yacht is certainly a head-turner in every marina, repairing scratches can be very expensive. Foils and coatings are easy to replace and repair, but may need a more frequent fresh-up.

  • Safety equipment upgrades: Up-to-date safety gear is essential and can include upgrades to life rafts, EPIRBs, or fire suppression systems. Check with your boat insurer which upgrades, products or professional services are considered helpful and suggested by them.

  • Interior redesign: Changes to the yacht's layout, furnishings, cushions or aesthetics can make it more homely and suited to your taste.

However, while these advancements can increase comfort, functionality, and even resale value, they should be considered carefully. The cost-benefit analysis of upgrades involves evaluating whether the investment will enhance your personal sailing experience or increase the yacht's resale value. An upgrade's worth also depends on the length of ownership; investing heavily in a boat you plan to sell soon may not be as rewarding as a long-term possession. Always consider your own sailing preferences, long-term plans, and the cost-versus-value equation before embarking on significant customisations.

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Cost of ownership: is sailing an expensive hobby?

Here we are at the end of this article. Now, have you found an answer to that initial question which brought you here? Indeed, sailing can be an expensive hobby, depending on the size and type of the boat, maintenance needs, storage costs, and the frequency of your sailing adventures. Upfront fees include the price of the vessel, which can range from a few thousand dollars for small used sailboats to several million for luxury yachts. Recurring costs, including insurance, mooring or docking fees, maintenance, and fuel, can also add up. However, figures can be lowered by buying a used boat, doing your own maintenance, sharing costs with others, joining a sailing club, and following our invaluable cost-saving tips. If planned ahead wisely and helped by skillful sailors and experienced boat owners, you will indeed be able to find your way through this jungle of cost factors.

Saving on sailing yacht running costs: the bottom line

In conclusion, boat ownership encompasses a multitude of costs beyond the initial purchase price. Remember, your sailing journey should be about adventure and fulfilment, not financial surprises. If you're ready to embark on this exciting journey and need guidance in finding the perfect sailing yacht, your local dealer is always there to help. Explore our diverse range of vessels today, and let us assist you in making informed decisions that align with your budget, lifestyle, and sailing dreams.

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