Perhaps the biggest cost factor of buying a canal boat is depreciation. While not as bad as cars, ships tend to depreciate from the moment they are launched, with the biggest loss in that first year and then a steady fall. If you're in the mood for a summer day or weekend, opt for a GRP cruise. Older second-hand boats are fairly easy to find starting at more than 1000 pounds, although many of those found in canals and rivers are quite old, but are in good condition.
The new GRP boats are better adapted to rivers and cost more than 15,000 pounds with 4-stroke gasoline outboard engines. Boats from 16 to 32 feet are suitable and can accommodate 2 to 8 people with different levels of comfort. They tend to depreciate faster than other vessels. For more serious sailing, a narrow vessel can sail comfortably with up to 12 people on board.
They range from 20-foot to 72-foot full-length miniboats. Modern ships tend to be completely made of steel, although older ones may have GRP or wood superstructures. Their facilities are often better than those of cruise ships, as they have enough headroom, heating, hot water, showers and larger kitchens. Very few narrow boats cost less than 10,000 pounds second hand, but they hold their value much better.
If you are only interested in rivers or wide waterways, it's worth considering all-steel cruisers or wide-girded “narrow boat” type ships, but once again, the depreciation of new ones is quite high. There aren't many used. If you want to live on a boat, do you want to practically stand or go for a walk? To move around the entire network, the solution is a narrow beam, with a maximum practical length of 57 feet. If you like to walk around the area, then a wider boat offers much more space, without increasing the cost too much, but make sure that living on a boat is for you: how long have you spent on a boat? One of the things that all future boaters should keep in mind is the depreciation of ships.
There are many types of ships, as well as brands, models and characteristics. Not all depreciation curves are going to be the same, but ships depreciate much like motor vehicles. Knowing how much your new boat can depreciate can help you plan for the future when you want to sell it and buy an upgrade. That's the downside of buying a new one.
Once it gets going, just like in a car, the value of your boat drops dramatically. I think that was a wise decision. It wasn't the exact ship I wanted, but I didn't have to put up with the depreciation. That brings me to the next scam about buying second-hand items. If you decide on a second-hand boat, you'll have to commit.
There's no getting away from this. Okay, so what's wrong with commitment? By saving a large amount of money, I converted my boat into the boat I always wanted without the depreciation. Speaking of what to expect, Apollo Duck is a great website for second-hand boats. You'll find the largest available selection of used narrowboats and canal boats anywhere.
Ten years ago, the general view was that ships always depreciate, but that's no longer the case, at least in the short term. If you like to walk around the area, a wider boat offers much more space, without increasing the cost too much. Adapted from an article by Paul Miles published in The Telegraph Online (Everything you need to know before buying a canal boat). If this is your first time living on a boat, consider taking a test in summer and winter to see if you can really handle the challenge.
However, after the Covid pandemic, the depreciation has tilted slightly, and the prices of used boats have reached record levels amid enormous demand. New floors, bimini countertops, and pedestal seats are all preferred upgrades that make your boat even more valuable to prospective buyers. However, most of the time, you can investigate the depreciation of a model before buying or selling it by searching for ads on brokers' sites. A well-kept canal boat will return much more money to its owner than a poorly maintained one; in this sense, ships are closer to houses than to cars.
Buyers will need three-month bank statements, an inspection and appraisal, documents of ownership of the ships and a ship security check. Prices rose accordingly and, in part due to other subsequent global events, raw material costs also skyrocketed, making new ships significantly more expensive than they used to be. If you strive to make your boat better than it was when you bought it, depreciation won't be that difficult. This family business has gained a large number of enthusiastic followers of canal boats and has become synonymous with quality and good design.
You can still find a second-hand boat in good condition for just £30,000, and all houseboats are exempt of stamp duty. When the boat turns four years old, it will need a boat safety certificate (BSC), which an examiner must renew every four years. In addition, fishing boats, pontoons and center console boats depreciate less than more expensive boats, like yachts.
