We’re not talking about how much it costs to finance a boat, but what it costs you every year in upkeep and maintenance.
Not every boat is the same. Keeping a tinny in your backyard is a lot cheaper than looking after a super yacht, but we’ll look at some of the more standard costs.
As the old saying goes, BOAT stands for ‘bust out another thousand’ they’re not far off. From storage, repairs, insurance, petrol and more, owning a boat isn’t a cheap hobby.
Want to find out more about your upfront costs? Our boat finance calculator can help you work out repayments.
Berthing rates
Where you keep your boat can have a huge impact on your costs. If you’re happy to buy a trailer and keep it in your garage, your costs will be lower.
However, it’s much more convenient to pay for berthing somewhere. Berthing costs change on a few factors like the marina you’re looking at, the size of your boat and the length of time you’re happy to sign up for.
Most marinas don’t advertise their rates, instead asking you to contact them for pricing, but a couple of local spots are more transparent with their rates. Here are a few examples of berthing costs around the Newcastle/Lake Macquarie region:
Newcastle Cruising Yacht Club
| Daily | Weekly | Monthly | |
| 12m (monohull) | $71 | $462 | $975 |
| 18m (monohull) | $115 | $690 | $1500 |
| 18m (multihull) | $163 | $978 | $2250 |
Lake Macquarie Yacht Club quarterly rates
| Yacht | Power boat | Catamaran | |
| 12m | $1653 | $2241 | $2609 |
| 14m | $1845 | $2858 | $2977 |
* Costs accessed in May 2026
You can see the full offerings here: Lake Macquarie Yacht Club, Newcastle Cruising Yacht Club.
Boat trailer costs
If you’ve got the space at home to store your boat, it’s definitely cheaper to buy a trailer and do that.
The cost of a trailer varies hugely. Terrace Boating in Heatherbrae is currently selling boat trailers from between $2,670 to $14,199. Bonanza Trailers (Newy, Brisbane, Perth and Sunshine Coast) has a similar range starting at $3,200 going up to $12,100.
Looking at the second hand market on Gumtree and Facebook, you’re looking at a smaller choice that comes in a range of $3,149 to $5,850.
Although a trailer will save you money in the long run, you do have bigger upfront fees than with a berth. No matter if you’re buying new or used, we can help with trailer finance.
Repairs and maintenance
Some of the biggest costs come from repairs and maintenance, often because they’re unexpected expenses.
Maintenance
Avoiding regular maintenance is also a decision that can come back to bite you.
An annual service is generally available for around $500-$1000 (if there aren’t any major repairs), it’s often a wise investment. While you might think it’s cheaper to skip ongoing repairs, this often leads to a bigger problem down the line that comes with a bigger bill.
You’ll also want to budget a thousand or more for antifouling on your hull, and a couple hundred each for waxing, oil//filters and small replacements.
Repairs
Repair costs vary hugely from boat to boat. One of the most common reasons you have to pay a lot is because you bought cheap.
If you find a bargain, there’s likely a reason it’s being offered for so low. Making sure you fully account for repair costs might make you think twice, as it might be cheaper just to buy the more expensive option.
Older boats tend to need more repairs, but newer boats can need more expensive repairs especially if it comes with a host of tech and electrical options.
Bigger boats can also cost more simply for the size of materials. While you can cut costs by doing repairs yourself, there’s nothing to change the fact that buying more material costs more.
As a rule of thumb, repairs and maintenance are likely to be:
- $1,000-$2,000 for small boats
- $2,000-$5,000 for medium boats
- $5,000-$15,000 for big boats
Registration, licensing and insurance
As well as the physical aspects of your boat, there’s a lot of paperwork, admin and non-tangible costs to account for. These are generally paid on a yearly basis.
Registration
All powered boats in Australia need to pay an annual registration fee.
This changes by the size of your boat and your state, but start from $100 for smaller boats but can go up to $500 fairly easily.
Trailers also require registration of $100-$200 a year.
Licences
Again, this changes by state, but expect to pay a small amount for your operator licence. This can be annual or every five years and can be anything from $30 to $200.
Insurance
As with cars, boat insurance is an expense you’re very likely to regret not taking up.
Costs vary depending on the size of your boat and whether you go for third-party or comprehensive. A rough estimate for annual insurance costs might be:
| Third party | Comprehensive | |
| Small boats | $500 | $1,500 |
| Medium boats | $1,000 | $3,000 |
| Big boats | $2,000 | $20,000 |
Factors like where you live (for example cyclone prone areas of Queensland will cost around 25% more), your claims history and the type of boat will impact your quote.
Fuel and power
There’s a huge range in fuel costs based on the size of your boat, how often you use it and the current status of wars around the world.
At the lower end of the scale, expect to pay $500-$1000 a year, but this could easily be multiple thousands for bigger boats that are used constantly.
Extras
As a boat owner, you’ll also have extras to pay for.
Things like life jackets should be one-off purchases, but you may need spares, replacements or different sizes for growing children. These are generally $100-200 each.
Flares ($50-$100) should be replaced every 3-5 years or whenever you use them.
Other costs may include fishing gear or equipment for snorkelling and diving.
