Owning a Boat is EXPENSIVE!

[hellosailor]

Scupper?
" Every year expenses ran about $6k including slip fees (expensive here), insurance, & maintainance. ...
...Less than $300 / month. "

Ah, $6k/year = $500/month, Canadian or US.

[scupper42]

Exactly. $500 / month with a partner = $250. Say $200 US.

I can't think of the number of people I've taken out sailing and their impression is "wow, this is amazing if only we could afford it." They drive to the marina in a $30,000 vehicle. Of course they can afford it. It's just a matter of what the priority is...

[WouldaShoulda]

Originally Posted by scupper42

Exactly. $500 / month with a partner = $250. Say $200 US.

I can't think of the number of people I've taken out sailing and their impression is "wow, this is amazing if only we could afford it." They drive to the marina in a $30,000 vehicle. Of course they can afford it. It's just a matter of what the priority is...

In season we go to the boat EVERY WEEKEND so the that kind of expense is worth it, easily.

Once people lose interest however...

[bubb2]

I only complain about the boat expense when she sitting on stands during winter storage. (like now) Once she hits the water in the spring, no complains.

[eherlihy]

Critics,

Please lighten up on this guy. He states in his first post that his intent is to HELP prospective boat owners by realizing that there are hidden costs; “It may help those looking to buy a boat think about all those other costs involved.”

In the OP he states a typical dream, then he analyzes the dream, “realistically, how many days will you [be able to use a boat]?" This is a great point! He discloses some costs (aquisition, depreciation, slip rent, liability insurance – IMHO he left some stuff out) and factors in resale after a period of time to arrive at a total cost of ownership (TCO).

He then compares his cost per year of ownership with charter costs. Surprise! He figures out that a charter costs less per year.“So remember next time you are having that dream... unless you can get some serious usage out of your sailboat, and can stomach the thousands of dollars it will take to own a sailboat yearly, maybe you don't need to own a sailboat after all!”

Anyone that is scared off from buying a boat by this analysis should not be buying a boat in the first place.

As a married male, I could make perform a similar analysis on homes (versus rentals – especially since the second half of 2008), women (why get married, when you could just, depending on your goal, get a dog, a maid or see a hooker? ) or children (why have them at all? – 2 step sons in college cost us over $80K per year, not counting food, fuel and insurance for the car, clothing, supplies, soap, and toilet paper when they come home…) What is the return on any of these?

My point is, as CP once pointed out to me (“if I have that big of a spreadsheet on a boat, I'd walk”), buying a boat is an emotional decision not a financial one.

I also belonged to the BHSC, just like Slayer. (BTW- you may be interested to know that if you ever want to take out a larger boat, Mark will only charge you the difference between your membership level and the rental). However, I have decided that the boat club or charter arrangement will not work for me. I want to know exactly how the boat is set up, and where things are kept. I want to know what all the buttons on the GPS do. I want it equipped with the best equipment that I can afford. I want a different anchor than a Danforth. I want to know what compromises in equipping the boat were and why. I am the guy that will pay the price (be it time, money, or both) if something breaks, so I want the ability to maintain the boat that I’m on. I don’t want to get pissed at the owner, or anyone else, because something wasn’t provisioned, maintained or repaired to my standard.

I appreciated the analysis in the OP. I don’t know if I agree with any of it, but I haven’t yet bought my boat. I am still looking, despite being laid off in November, and the college and home expenses mentioned above.

CaptainFredGreenfield - Welcome to Sailnet!

[Yamsailor]

Amen!

[rolla]

Originally Posted by petmac

Owning a boat is expensive. Yes it is.
Depreciation 30 % first year, 20 % second year. Thats a pretty general statement. Not so for all boats.

http i249.photobucket.com/albums/gg211/9Belleview/DSCN0025.jpg

i guess i'm not "sr" enough to paste links so I split up the above.

Nevertheless, what yacht was this? Simply stunning. My guesses are a CAL, Morgan, Islander...??

[sailaway21]

Oh for god's sake! Boats are expensive but generally cheaper than women. End of story.

[steich]

Bought a sailboat 6 months ago for 7K. 33 ft Islander and have been living on it ever since. I live on a mooring in downtown San Diego and rent is $147 a month. 38 latitude. Yes no serious winter and I can sail all year, but I'm sick of people who insist how expensive it is. I save TONS of $ in rent and have a view you can't buy. It's all relative is all I have to say. If you can do repairs yourself or are willing to learn DO IT!

[SURV69]

why a paid-for boat has depreciation listed as an "expense"?

Granted, depreciation would diminish value, but it can only diminish the value of the item.

SO . . . a $20,000 depreciates until it's worth nothing, meaning the expense of the depreciation was $20,000 and the value of the boat is nothing, meaning that the $20,000 orginally spent, is now lost.

BUT it remains ONLY $20,000, not $20,000 PLUS the depreciation amount.