Join Date: Aug 2003
Location: Long Island, NY
Thanked 55 Times in 50 Posts
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Budget Items to be considered....
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.