[AntiguaRum]

Hi,

I have my heart set on a 1991 Island Packet 32'. The owner is asking $88k. That's about the only number I'm sure about! I could really use some help understanding all the miscellaneous costs involved.

I've only owned trailable sail and power boats in the past, so I'm really just guessing at the following purchase related and monthly costs:

-ONE TIME COSTS:
$19,620.00 - Down payment (90k, w/9% tax, $98,100) (20% of $k), $19,620
$275.00 - Loan processing fee (Key Bank)
$650.00 - Survey (@ $20 per ft.)
$549.00 - Coast Guard Documentation (Require???)
-- -- -- --
$21,094.00 Total

-MONTHLY REOCCURRING COSTS:
$709.00 - Loan (15 yr @ 8.5%, w/20% down)
$277.77 - Repair & Upgrade ($10k yr) ~ (This is my bottom cleaning, haulout, new/upgrade gear fund. I'd like to itemize if I had good numbers)
$242.69 - Slip fee, + 9% Tax (very nice Bellingham, WA marina)
$70.00 - Insurance ~ (Internet quote. Not at all sure what type of coverage I should buy)
-- -- -- --
$1,299.46 Total

Am I in the ballpark or being naïve? What costs am I forgetting about? If you've been tracking your costs in Excel (or could run a Quicken or Microsoft Money report) that would be incredibly helpful!

Many thanks,

Eric
Seattle