“The two happiest days of your life are the day you buy a boat and the day you sell it!” – Anonymous
When it comes to personal finance websites and blogs, the last thing you might expect to read is an article about how the author just bought a boat! However, that is exactly what is happening here at Trees Full of Money after my family and I decided it was time for us to purchase a used Grady White Tournament 205 (pictured above).
If you’re familiar with boats at all you’ve probably heard that owning a boat is like having a big hole in the water that you throw your money into, or maybe the one that says “BOAT” stands for ‘BOut Another Thousand”. I’ve even written on this very blog about the advantages of renting a boat over buying one. But, sometimes you just need to experience things yourself and that is exactly what I’m going to be doing here on my blog.
Over the next year or two, I plan on detailing exactly what it costs to own and operate an average sized family boat on the Coast of Maine to help readers decide whether or not boat ownership is right for them. I plan on detailing exactly how much it costs for boat maintenance, fuel, boat insurance, marina fees/slip rental, winter storage, as well as any other expenses that I don’t even know about yet.
The fun part will be contrasting these boat operating costs and expenses with the amount of time we actually use the boat (dollar per hour used). It should be a fun experience and I’m sure I’ll learn a lot; hopefully you will too! Come back often for updates on all of our boating adventures (and expenses).
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