I am a new member looking at buying a used sailboat. As much fun as it is to imagine the lifestyle, I am trying to realistically assess the annual out of pocket expenses of sailing. I have pasted below a rough model that breaks down the cost into annual expenses and one-time expense (mainly boat purchase and lessons). The bottom line: it costs about $15k to operate a sail 35' to 40' boat in the North East to which one needs to add finance costs. I would appreciate if experienced members would look at my itemization and tell me if I forgot something. I left out depreciation to keep things simple. Sorry about format.
Annual Expenses
Berthing/storage
Winter $2,360
Slip $4,080
Fuel $1,000
Maintenance
Sand & paint the bottom $1,500
Varnish the interior $200
Routine engine $300
Wax the hull $250
Toilet maintenance $200
New running rigging $267 5 year life
Sail wear and tear $1,000
New standing rigging $800 8-10 year life
Unexpected events $1,000 Everything else!
Subtotal maintenance $5,517
Regulatory fees
CT registration $250 Paid annually
Insurance $1,500 Annual
Annual total $14,707
One-time expenses
Purchase Boat $75,000
Surveying $1,200
Tax $4,688
Lessons/training/courses
ASA 101-5 $1800
One time Total $82,698
Finance $7400 (75% of total price over 10 years)
Total cost of ownership $22,111
First year out of pocket $40,869 (Annual cost + 25% down payment)
Annual Expenses
Berthing/storage
Winter $2,360
Slip $4,080
Fuel $1,000
Maintenance
Sand & paint the bottom $1,500
Varnish the interior $200
Routine engine $300
Wax the hull $250
Toilet maintenance $200
New running rigging $267 5 year life
Sail wear and tear $1,000
New standing rigging $800 8-10 year life
Unexpected events $1,000 Everything else!
Subtotal maintenance $5,517
Regulatory fees
CT registration $250 Paid annually
Insurance $1,500 Annual
Annual total $14,707
One-time expenses
Purchase Boat $75,000
Surveying $1,200
Tax $4,688
Lessons/training/courses
ASA 101-5 $1800
One time Total $82,698
Finance $7400 (75% of total price over 10 years)
Total cost of ownership $22,111
First year out of pocket $40,869 (Annual cost + 25% down payment)