The average cost of buying a narrowboat is 57,000 pounds sterling, often the cost of a deposit to buy a house. Many people will save to pay this lump sum all at once, or perhaps they will apply for a loan to pay it in installments. Wow, narrow ships cost more than you think, I suppose that's why BOAT stands for Bung On Another Thousand. We wish we had known that before starting the exciting process of buying our boat.
It may be obvious to anyone who has purchased a home before, that they will get used to the attorney fees, survey costs, and general moving costs associated with buying a home, however, for a naive couple who knew nothing about narrow ships, the fact that there were additional costs in addition to the purchase price of the boat came as a surprise, but not as much as how big those costs can be. When we sat down to find out everything, we were surprised by the real cost of buying a narrow boat, so we thought about telling them how much it really costs so that if they want to buy their own boat they won't be surprised. The biggest and most obvious cost we started with was the purchase price of the boat, which varies greatly depending on the size and age of your boat, the builder or assembler of the boat, where you buy it, and even the time of year you buy it. Within our budget, we were limited to the options we had, we could buy a very dilapidated large boat or a smaller ship that was habitable, the midpoint seemed to be too expensive for us. We decided on a 40-foot narrow boat that was habitable, but needed a bit of renovation.
It's not by a famous boat builder and our interior was designed by the previous owner, but it was full of charm and, more importantly, it was well within our price range. Fortunately, due to the time of year and the place where we were shopping, the price was reasonable and there was a lot of room for maneuver, so we jumped in and bought the boat. One thing we constantly hear is that you should never buy a boat without first doing an inspection, you just can't know what's underneath without taking the boat out of the water. There's no question that it was a difficult pill to swallow, especially when we discovered the price. The pre-purchase inspection consists of a series of exploratory tests that are carried out on your boat and that provide you with all the important information you will need, such as the thickness of the steel, the electrical, water and gas installations available, as well as the condition of all aspects of the boat and the engine.
For us, as newbies, we still consult our survey to this day to be able to locate hidden glands and rods, and use it as a list of the repairs we know we need to address. Survey prices vary, so you should compare prices, but not all surveyors are the same, so make sure you find one you trust, the best enjoy showing you everything as they do it. The cost of the survey will also include the price of taking the boat out of the water, either by dry dock, crane or pier, of our 825 British pounds, 250 pounds sterling that went into the use of a dry dock, so be sure to take this into account when shopping. With Insure4Boats, you can protect your narrow boat against theft, accidental damage and damage malicious.
From April 1, 2024 to March 31, 2025, you must use the CRT online calculator to find the prices of individual commercial boating licenses. A good narrow boat, about fifteen or twenty years old, with a decent hull and engine, can cost between 50,000 and 60,000 pounds; if stretched to another 10,000 or 20,000 pounds, it's definitely a nice boat. It's likely to take several months to complete, even if you can do it during the week (I know of a lovely couple who have taken three years so far to only partially equip their narrow boat due to life circumstances that make them go backwards from time to time, which you just can't predict) and, at the end of it all, you may end up with a conditioned dog dinner that's hard to sell if that time ever comes. The living costs of traditional housing will naturally differ by region, due to variations such as housing prices and municipal tax bands. Like a house or a car, every narrow vessel must be properly insured to obtain a license.
To keep a narrow vessel on inland waterways, you must pay an annual fee to obtain a license from the Canal and River Trust (C&RT). I think the average cost of a boat is roughly the right price for a recently divorced man when the marital home is sold. Check the price on Amazon: Better Boat soap is 100% biodegradable and safe for marine environments. Many narrow boaters take advantage of solar energy for these purposes, while coal and wood remain popular options.
