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-   -   Budget Items to be considered.... (http://www.sailnet.com/forums/boat-review-purchase-forum/10272-budget-items-considered.html)

GarrettK 08-18-2004 04:11 AM

Budget Items to be considered....
 
I''m still in the process of finding the right boat, and am wanting to bounce my budgeting thoughts off some other people.

The fixed costs that I''ve come up with are the boat payment, slip fee, and insurance. The boat payment and slip fee are easy, but I don''t have much of an idea on insurance rates. About how much should I anticipate for a 30 year old 30 foot boat? If it matters it will hopefully be kept near Oriental, N.C. and the boat I''m going to look at this weekend is a Bristol 30.

My variable costs are fuel (which I think will be minimal), and then the big unkown is maintenance. I realize this is completely dependent upon the condition of the boat I purchase, but if you consider the above described boat, do I need to budget $100/month for maintenance or should I be looking at a much higher number? I plan on doing as much work on my own as possible.

Also, am I missing any obvious items from this short list that I should consider when laying out my anticipated costs?

Thanks for your help.

williamjchampion 08-18-2004 06:25 AM

Budget Items to be considered....
 
Insurance is highly variable, by location, terms, etc. and will depend, in part, on the value of the boat. Most likely, you will need to get a survey (if the seller hasn''t done one to sell the boat) to give to your insurance company. To give you an idea, I have a 35 year old Morgan 35 w/ an agreed value of $25K and pay about $350/year for insurance. Additional items to consider: winter storage, sails and sail repair (if you are going to need a new main or genoa over the next few years, it could easily set you back a few thousand). Even doing the work yourself, $100/month may be a bit optimistic if you think about "routine" maintenance items like standing and running rigging, lifelines, bottom painting, etc.

GarrettK 08-18-2004 08:21 AM

Budget Items to be considered....
 
William,

Thanks for the reply. To provide a bit more information, my current plan is to haul out the boat either every 2 or 3 years for new bottom paint (that was recommneded to me by locals). I don''t need to worry about winter storage as most everyone keeps their boat in the water year round. Since the paint would be less frequent than every year and no winter storage I should realize some savings (I hope).

I will most definately get a survey completed on any boat I purchase. Not just for the insurance, but for my own knowledge and peace of mind. I had not considered the cost of sails, and will need to find out the condition of these and price of new ones during the survey.

Thanks for the info on the cost of insurance. I''m thrilled that it is nothing like the cost of insuring a car (that''s what I had envisioned).

Garrett

capttb 08-18-2004 09:47 AM

Budget Items to be considered....
 
bottom cleaning $30/month, hate to say it but almost anything you do will exceed $100/month.
Halyards $80-$125 each w/ moderate hardware, you can spend from $25 to $125 for just a shackle if so inclined. Jib Sheets - $60-$80, Mainsheet, Vang, Furling line - $100, Pump to change oil - $50, rebuid kit for macerator pump - $50
New "sunband" on Genoa - ~$350
Sails $800 to $1800 each depending, Mainsail cover re-stitched - $60
You may be able to maintain a "status quo" for $100/month but most of us always have a list of repairs, replacements & improvements just waiting for the budget to catch up.

GarrettK 08-18-2004 11:30 AM

Budget Items to be considered....
 
Thanks for the input. This is the type of information I need to make sure I''m being realistic with my expected expenditures.

It sounds similar to the sports car I sold so I can get a boat - there are always modifications on the horizon to be done.

Garrett

ian6460 08-19-2004 09:37 AM

Budget Items to be considered....
 
GarrettK,

Don''t forget 3.0% NC sales tax.($1500 max)
Boat stands = $100 each if you intend to pull her out
Cost to transport boat and haulout
Documentation fees

BarryL 08-22-2004 07:10 PM

Budget Items to be considered....
 
Hello,

From what I have learned in the last two years (I bought a Catalina 22 last July, and a 1986 Newport 28 this June) is that you will initially have some extra expenses, but after that things should calm down.

You will undoubtably need to buy a number of items immediately. For the C22, we needed to buy life jackets, flare kit, air horn, porta potty, etc. Once we bought those items, I didn''t spend a penny on the boat for the rest of the year. When the season ended I needed to buy a cover, etc. At the beginning of this year I sanded and painted the keel (about $75 in material) tuned up the motor ($2 for parts) and dropped it in the water. No other costs for that boat, and I sold it in June.

The N28, being larger and more complicated, will cost more to maintain. I had to buy a new head (cheap Jabsco), oil changer for the diesel inboard, and a few more odds and ends. I will need to get the sails cleaned at the end of the year, another boat cover, haulout, etc.

Overall, your budget may be accurate, but it depends on what condition the boat is in. As long as you don''t included that money for restoration, but just maintenance, you should be OK.

Regarding insurance, I pay about $300 for full coverage on my 86 N28.

Good luck,
Barry

maestro 08-25-2004 02:07 PM

Budget Items to be considered....
 
then think about it.........

sipping your favorite cocktail in a secluded anchorage while watching the sun set over the horizon..........

PRICELESS!!!!!!

Fishboat 08-25-2004 03:30 PM

Budget Items to be considered....
 
GarrettK,

You can get a free insurance estimate over the web from BoatUS. They''ll require a survey before a policy is issued, but you planned on that anyway. Fill out the form & they''ll usually get back to you in a couple days. They''ll write a agreed value or standard (depreciated value) policy.

This will get you there:

https://www.boatus-insurance.com/insappNew/Default.asp?AID=&AButton=&ASource=&ID= &AHits=

kokopelli9 08-25-2004 05:51 PM

Budget Items to be considered....
 
Being rocked to sleep each night on the world''s largest water bed and waking up to watch the sunrise while having coffee sitting on deck....priceless!

Hearing the sound when your sails fill and feeling your boat start to dance across the water while you get to come along for the ride...priceless!


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