Most expensive hobbies

Hobbies have had a resurgence in recent years as we all try to pry our eyes from screens and find more meaning and enjoyment in our lives. Research has found that engaging in enjoyable leisure activities, such as hobbies, is associated with better psychological and physical functioning, including greater life satisfaction, life engagement, and social support, as well as lower depression.¹

A 2023 Allianz survey found that 45% of young Australians are unsure of how much money they spend on their hobbies, and more than half don’t know how much the items that make up their hobbies are collectively worth.² These findings got the home and contents insurance comparison experts at Compare the Market thinking about which hobbies are the most and least expensive to begin and maintain. To answer this question, we examined the initial, ongoing participation and upskilling costs of 25 hobbies in Australia. We ranked them from most to least expensive, with higher index scores indicating greater cost.

So, which hobbies cost the most and the least, you ask? Read on to find out that answer.

1. Woodworking

The crown for the most expensive hobby goes to woodworking, which scored 8.91 out of 10 in our index.

Woodworking topped our index thanks to its high rankings across all three factors.

For the initial cost, it had the third-highest total at AUD$700.07, covering everything you need to begin woodworking and create items such as tables and chairs. This total covers items such as a claw hammer, measuring tools, chisels, a hand saw, and a power drill.

The ongoing participation cost was the fifth most expensive in the index, with consumables and maintenance costs totalling $752.47 a year.

But the main reason behind its high ranking is the index-topping $456.14 average price you would need to outlay to upskill in this hobby through ongoing classes, workshops, or community programs. For classes, the average cost was $849.25 per term (9-11 classes), while workshops ($290.42) and community programs ($228.75) were significantly cheaper but still the most expensive in this category.

2. DSLR photography

Photography with a good DSLR camera is a creative and rewarding hobby that encourages outdoor activity and the documentation of life’s moments. However, it can also be among the most expensive, as this hobby’s second-place ranking in our index shows.

The major reason for its high score of 8.62 is the initial investment required to get into the hobby, which was the largest in the index. To get started, you would need to outlay approximately $1,611.21 for items such as an entry-level DSLR camera with a basic 16-50mm lens ($1,223.25 on average) and accompanying equipment like a bag ($85.50), 64gb memory card ($31.58), tripod ($94.23) and a yearly editing software subscription ($176.66).

Participation ($673.05 a year for software subscriptions, printing costs, maintenance, and memberships) and upskilling costs ($207.01 average price) for this type of photography were on the higher end compared to other hobbies we researched, contributing to its second-place ranking.

3. Digital art

Rounding out our top three most expensive hobbies is digital art, which scored 8.37 out of 10.

The mess-free hobby, which is done mostly on tablets like iPads, ranked highly due to its high initial and ongoing participation costs.

To get started in digital art, you will need a tablet and appropriate software, which can cost approximately $776.75 ($655.75 for the tablet and $121 for software). The initial costs of this hobby were the second-highest in the index, behind only DSLR photography.

Ongoing participation costs of $1,014.64 annually for brush packs, yearly software and cloud storage subscriptions, were the third-most expensive of the index and highlighted the significant amount of yearly investment needed to continue this hobby.

1. Knitting

The cheapest hobby that you can begin and maintain is the ancient, versatile craft of knitting, which scored 1.21 out of 10.

Knitting, which has origins dating back to 4200 B.C.E, was the cheapest because of its low scores across two of the three factors.³

It had the lowest participation cost in the index at $64.76 per year for items such as yarn replenishment, stitch markers, and hook/needle upgrades. Knitting also had one of the lowest initial setup costs, with novice knitters needing to fork out just $61.24 to get started.

And when it came to upskilling, knitting was also quite affordable, costing $73.81 on average for ongoing classes, workshops or community programs, highlighting not only its affordability but also its accessibility.

2. Drawing

Another affordable and low-cost creative outlet for new hobbyists is drawing.

Drawing’s final score of 1.83 was due to its low initial setup and ongoing participation costs, which were the second lowest in the index, behind calligraphy (initial cost) and knitting (ongoing costs).

To begin drawing as a hobby, you would need to pick up a set of drawing pencils, fineliners, a sketchbook, an eraser and a ruler for a total of $36.57.

To continue drawing, you would need to stock up on items like paper/sketchbook refills, pencil and marker replacements, which would cost $65.95 annually.

The costs do rise if you’d like to improve your drawing with classes, workshops, or community programs, which cost $171.01 on average.

So, if you’re happy to skip the classes, you could find yourself enjoying a very affordable hobby.

3. Stamp collecting

Rounding out the top three for the least expensive hobbies you can partake in is stamp collecting, with a score of 1.87.

Philately, as it’s also known, scored low on initial cost to get started and on upskilling costs.

To start, new philatelists would need to outlay $76.01. There is also no cost for upskilling, as you will learn skills such as conducting market research and using digital tools, and gain specialised knowledge by continuing to collect.

Where stamp collecting becomes costly is in the ongoing participation costs, which amount to $204.41 annually for items such as album page packs and new stamp acquisitions.