That’s wildly inaccurate, even as a rule of thumb. Upkeep (excluding storage, which varies widely by location) shouldn’t be over 10% of the purchase price, unless the boat was really cheap or the boatyard doing the maintenance is crooked.
Talking US rates here, I have no experience overseas.
IIRC the rule of thumb for boat costs, is that annual upkeep costs for a boat are roughly the purchase price of the boat.
That’s wildly inaccurate, even as a rule of thumb. Upkeep (excluding storage, which varies widely by location) shouldn’t be over 10% of the purchase price, unless the boat was really cheap or the boatyard doing the maintenance is crooked.
Talking US rates here, I have no experience overseas.
Fair I have zero experience owning a boat. However, if I bought a boat for $10K and my annual upkeep was only $1K I’d certainly be thrilled.