Owning v. chartering

[bob greenfield]

A question came up the other day about chartering a sailboat versus owning. Several websitesfor chartering list their prices. From the limited search it appears as though owning is the way to go, at least from a financial aspect. Any thoughts on this?

 

[Steve O.]

depends

If you have a limited amount of time to devote to to sailing, chartering might be the way to go. Owning is expensive, and boats are not good financial investments. They are, however, great for your mental health.

 

[Kevin]

Ditto Steve's Comments

I echo Steve's comments. Ownership can be expensive given slip fees, maintenance and insurance in addition the the capital investment in the boat and the time it takes to take care of a boat. Obviously the total per usage cost comes down the more you use an owned boat but I would bet that any usage scenario short of living on your boat, ownership would be more expensive economically. However, I would also bet that many owners derive much pleasure from maintaining their boat (most tasks anyway, but not all), personalizing their boat and knowing that they can go where ever, when ever they want to go. I would also bet that many boat owners actually charter in other venues as the need arises. The answer to your question realy lies in how you define "expense". If you're looking at pure economics - charter is probably cheaper onver the long run - but if you're including personal satisfaction aspects of ownership, ownership is usually more satisfying...most of the time.

 

[carisea]

owning for long cruises

I looked into this issue before we decided to buy a 42'cc sailboat. We wanted to cruise the caribbean and the ICW for at least 2 years. I talked with the Moorings and Sunsail who we have used on bareboat vacation charters many times. The best I could do on a boat in the 40 ft range was approx. 32,000 for 14 weeks including insurance. Yes they would service the boat throughout the Caribbean( BVI to Grenada). I decided to buy a 10 year old Passage 42. With upgrades including a new dink and motor I have about $120,000 into the boat. We hope to cruise for two years minimum. At the end of that time I should be able to recoup about 70 % The repair issues are the only upside to long term chartering and I have tried to learn as much as I can about all systems. I should also point out that we have lived on the boat for the last year in preparatio n for going offshore and have been able to put away another 1600/mo towards the cruising kitty

 

[Lee C]

More food for thought

I agree with previous replies; there is more than money to consider. You may wish to charter for a while, as a way to "test drive" a variety of boats. You can get a feel for how they handle and learn what you like and don't like about each.