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What should I budget for annual maintenance costs?
Hey who knows?
If you budget 10% per year you will probably use it and the boat will love you for it. If you budget nothing and then spend 10% you will be upset.
Plan on 10% per year and put upgrades (sails, engines, instruments, etc...) outside of this amount.
My father had a 36 foot sloop purchased new. He then had a 32 foot motorhome purchased new (not much of a trade in my opinion). In both cases he told me that he budgets 10% of value for maintenance. In 20 years this has always worked for him. Now that I have my own boat I find 10% is normal for a typical year with no major projects.
Regards,
Mike
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