There is no one size fits all annual cost of owning a boat because there are too many variables at stake. The size, year, condition, length, and location of your boat all factor into its annual ownership costs. But you should expect to spend at least 10% of the boat’s purchase price each year in annual ownership costs.
Let’s look at an example. You purchase a boat for $100,000 then you should expect to spend around $10,000 per year to own that boat. This of course varies depending on where and how you store the boat and how often you use the boat.
Annual boat costs include things like:
Marine insurance
Maintenance, service, and repairs
Fuel
Docking and storage fees
Accessories and equipment