The Real Cost Of Living On A Narrowboat

Do you want to live on a narrowboat because you think it's a low cost alternative to living in a house? Living on a narrowboat is a fantastic lifestyle choice but the cost is possibly a little more than you expected. In this article ALL of the costs are detailed and explained. Below, I have detailed the general narrowboat costs that you will incur followed by some specific costs that I have faced since moving onto narrowboat James in April 2010.

Your narrowboat will probably be your largest financial investment after your dry land home. If you want a brand new narrowboat designed and fitted out to your own specifications you can pay in excess of £100,000. You will be able to pick up a decent second hand boat of about 60' suitable for living aboard for about £40,000. The majority of narrowboat owners have a boat in addition to a house. Some though fund the cost of their boat from the sale of their house. Whichever way you choose to fund your boast purchase, make sure you include any monthly finance repayment amounts in your calculations.

I provide a link to the very best place to research narrowboat prices and specifications in this article on my web site. Last time I looked, there were eight hundred narrowboats for sale. Insurance for your boat is a legal requirement. You can find a list of narrowboat insurers on the site. Please note that your intention to live on your narrowboat and the age of the boat will have an impact on the insurance cost so must be declared. Your car needs an MOT both as a legal requirement and as a regular check to make sure that it is safe to use. Your narrowboat needs a Boat Safety Scheme (BSS) Certificate when it is four years old and every four years after that. Again, tHere's some very good information about the examination, the likely cost and what you need to do to prepare for it on my site.

You have to buy a British Waterways license if your narrowboat uses the canals of England and Wales. The fee is dependant on the length of your boat. At the time of writing (November 2010), the annual fee for 62' long James is £804.48 with an £80 discount for prompt payment. You also need to pay a fee to use the rivers that connect some of the canals (e.g. the Thames). British Waterways is responsible for river Avon, Soar, Ouse, Severn and Ure. The Environment Agency controls river Thames, Medway, Nene, Great Ouse, Ancholme, Glen, Welland and Stour. British Waterways offer their Gold License which allows you to travel on all the waterways controlled by British Waterways and the Enviroment Agency. The 2010 fee for a 62' narrowboat is £967 for payment in full or £1,039 if paid by direct debit installments. You can find more details about British Waterways licenses here

River Canal Rescue offer breakdown cover for boat owners. They offer three levels of cover; bronze, silver and gold ranging in cost from £55 to £160 a year. Bronze cover simply registers your boat on their database. You pay additional fees for call outs and for towing you to the closest marina if they can't easily repair your boat. Silver and Gold membership give you additional services and benefits such as an annual engine inspection (rather than a service). It's essential cover for you if you don't like to get too close to your engine or if your craft is a little long in the tooth.

For More Information, Visits: http://www.warmfrontfires.com/