Join Date: Feb 2012
Location: Houston, TX
Thanked 6 Times in 6 Posts
Rep Power: 6
Re: Boat Buying Costs
A boat built in the mid '90s will be closing in 20 years old. Some big ticket items come due for replacing around the 10 year mark. Make sure you know when these kinds of things were done. If they were not done, factor that into your pricing calculations or at least your additional cost estimates. Examples - standing rigging; running rigging; sails; lifelines; shaft seal; re-bedding the hatches and portlights.
Insurance will run you about $1000/yr depending on your levels of liability, if you race, etc. Maybe less, if you have a low agreed upon hull value.
Maintenance for a well maintained boat will run about 10% of the original price, as stated already. That can be averaged out over the years to some degree and you can lower that cost the more you can do the work yourself.
Survey will be about $500, i'd guess. Been a few years since I had one done for a purchase.
You'll have to pay taxes on the sale, and you may need to budget delivery charges if you are looking beyond local boats.
Other costs: Hauling/blocking and winter storage - around $1000 or more. Periodic professional inspections - few $100 bucks every few years. Dinghy, dinghy motor - $5000 or so if you go with a good new set up.
And then all the bells and whistles your budget can afford, and some that it can't.
[/B]S/V Wind Orchid
Catalina 350 (hull# 273)
LET'S GET SERIOUS ABOUT REMOVING POLITCAL TAG LINES -- NOW!