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While my experience the numbers are not the same it is good sober advice for anyone thinking of getting into boating. I rather doubt anyone will get to this point in the thread but here goes my example.
1979 niagara 26. Paid $14300. Sold 7 years later for $16750. Spend $1600 / year on marina fees, insurance,etc.... Total spent over the 7 years easily more than cost of boat - including 3 sails, instruments, cushions, hardware, maintenance. Not including marina fees probably spent just under $10000 on upgrades and maintenance. So cost of ownership something like $3000 per year after selling.
I also ski. Three sails cost me just over $5000 and i believe are still being enjoyed by current owners 5 years later. If thrown away today would be $1000 per year but suspect will get 8 years out of them.
Skis cost typically $1000 / pair for decent set at a discount. They need to be replaced every 3 - 4 years for any avid skier and no less than every two years for a racer. Only one person enjoys the ski at a time. We have 4 persons - 2 racing (2 pair each) so count on $3000 / year in cost of skis alone ... much worse than buying sails.....
Sorry for the long story. Simplified to me is how my father explained it to me. For a motorhome or boat put 10% of purchase price aside for maintenance each year - and that is for newer items. For old used stuff like boats expect 10% of what a newish version of the boat would cost. For a 26 footer that would be at least $3000 / year.
Oh - and remember that in boating it is usually the entertaining costs that are just as much ....
Mike
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