Sailboat Cost of Ownership - SailNet Community
 11Likes
Reply
 
LinkBack Thread Tools
post #1 of 66 Old 08-04-2011 Thread Starter
Aspiring sailor
 
Join Date: Jul 2011
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Sailboat Cost of Ownership

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)
fredct is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 66 Old 08-04-2011
GMC
Senior Member
 
Join Date: Sep 2009
Location: CT
Posts: 150
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 6
 
I guess you could spend that much, but I don't. I am 26 foot, but winter storage in New Bedford was about 800.00. Mooring (I own the tackle and only pay yearly fee to city) is about 150. I pay a mooring outfit to remove ball and put in winter stick and vice versa for about 75. I do the sanding and painting at this point, so cost is just my time and cost of paint 300. I've been paying a mechanic about 300. a year for various issues with my engine. You list fuel as 1,000. I've got a diesel saildrive and I doubt if I use over 100. of fuel a season. Small engine. I only pay about 300 for basic insurance. Would pay more if boat or my exposed assets were more. I've had boat for 3 years and still use standing rigging and running that was on boat. I had some stitching done to mainsail when I got it, for about 300. I can't comment on the other stuff. Whatever mine adds up to, I try to avoid calculating because my wife may ask. So, there are ways to spend a lot less, just depends.
GMC is offline  
Quote Quick Reply Share with Facebook
post #3 of 66 Old 08-04-2011
Senior Member
 
kd3pc's Avatar
 
Join Date: Oct 2006
Location: Callao, VA
Posts: 1,383
Thanks: 0
Thanked 10 Times in 10 Posts
Rep Power: 9
 
Fuel seems very high, unless you are going to be out and motoring a lot...or are including slip electical in that.

Rigging escrow seems low to me...unless you are going to do it all yourself. Similarly the bottom work is about half what I have seen up your way, unless it too is DIY.

You will analyze your self right of a boat, if you are basing the decision on $$$ per XXXX. There are several threads here on $$ per sail, $$per month, $$....and none of them can be rationally made.

About right for the rest of the stuff, you may be able to save a bit here and there...but it will wash out eventually.

All the best.
kd3pc is offline  
Quote Quick Reply Share with Facebook
post #4 of 66 Old 08-04-2011
Dragon Mod
 
DRFerron's Avatar
 
Join Date: Nov 2005
Location: SE Pennsylvania
Posts: 4,645
Thanks: 106
Thanked 199 Times in 182 Posts
Rep Power: 10
 
Dock
Quote:
Originally Posted by kd3pc View Post
You will analyze your self right of a boat, if you are basing the decision on $$$ per XXXX.
I agree. It's good that you're trying to be realistic and estimate your costs, but too much thought brings other thoughts and next thing you know, you're still on land looking at other people's sails.

Some years you will spend little to nothing beyond what it costs for fuel and your living expenses. Other years you might spend three times what you think you'd have to because something major breaks.

I also think your fuel costs are way too high unless you're going to motor most of the time.

Donna


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Catalina 30 TRBS
DRFerron is online now  
Quote Quick Reply Share with Facebook
post #5 of 66 Old 08-04-2011 Thread Starter
Aspiring sailor
 
Join Date: Jul 2011
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Adjustments!

Cost of fuel was just a guess (I recently paid for my winter oil!).

I don't think I would do rigging so that number would need to go up.
Bottom work: not sure, I probably would not do it the couple of times.
fredct is offline  
Quote Quick Reply Share with Facebook
post #6 of 66 Old 08-04-2011 Thread Starter
Aspiring sailor
 
Join Date: Jul 2011
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Why we do what we do!

Owning a sailboat is probably a lot like buying a second house. If you think about it too much, it stops making sense financially.

Many things fall into that category: vacations, golf and yet people do it all the time (yours truly included).

I have already decided to cut travel as I try to make room for this new project. That said, it may not be enough (hence this post). What else needs to go is what I fear.
fredct is offline  
Quote Quick Reply Share with Facebook
post #7 of 66 Old 08-04-2011
Crazy Woman Boat Driver
 
Melrna's Avatar
 
Join Date: Apr 2004
Location: New Bern NC
Posts: 807
Thanks: 16
Thanked 17 Times in 14 Posts
Rep Power: 12
 
Send a message via AIM to Melrna Send a message via Yahoo to Melrna
Other than fuel (way to high) most of your numbers are correct. In fact a little low because you will always be fixing things or adding/replacing things as they break. The bigger the boat the more it cost for total ownership. If you have KISS boat it will obviously cost less in all departments.
I commend you for looking forward in total ownership cost and asking the questions.

Melissa Renee
Moondance
Catalina 445, Hull #90
Melrna is offline  
Quote Quick Reply Share with Facebook
post #8 of 66 Old 08-04-2011 Thread Starter
Aspiring sailor
 
Join Date: Jul 2011
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Revised

Lowering fuel cost to $300 and lowering boat price to $35k with everything the same, I come up with $14k in recurring costs and $17k in total cost of ownership (both figures per year).

These are post-tax dollars so depending on income bracket, you are looking at $23-25k top line per year.
fredct is offline  
Quote Quick Reply Share with Facebook
post #9 of 66 Old 08-04-2011
Dragon Mod
 
DRFerron's Avatar
 
Join Date: Nov 2005
Location: SE Pennsylvania
Posts: 4,645
Thanks: 106
Thanked 199 Times in 182 Posts
Rep Power: 10
 
Dock
Fred,

Do you know yet what type of boat you want? I ask because narrowing it down may help with your calculations.

I narrowed our list down to about three boats and then I spent time researching known issues. So, when we decided on the Catalina there there two or three major things that we knew other owners had problems with and so we knew going into it that we had to eventually get these things fixed. It also gave us some specific questions to ask the surveyor and have him look for them as he did his thing.

Donna


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Catalina 30 TRBS
DRFerron is online now  
Quote Quick Reply Share with Facebook
post #10 of 66 Old 08-04-2011
美国华人, 帆船 教授及输送
 
Join Date: Sep 2006
Location: MD
Posts: 2,531
Thanks: 24
Thanked 23 Times in 15 Posts
Rep Power: 9
 
Quote:
Originally Posted by fredct View Post
Sailboat Cost of Ownership?
Always overestimate your cost. , Murphy's law is alive and well. You don't want to resort to a fire sale if thing goes wrong. Certainly it is hard to ask the Congress to bail us out if we can't afford our toys these days.

I would x1.5 to x2 your expense and go from there.


Fine Print:
I am old school. Integrity is to do the right thing even when no one is watching.
rockDAWG is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Need Cost-of-Ownership Estimates hriehl1 Boat Review and Purchase Forum 4 07-19-2010 12:48 PM
Cost of Ownership? Kiltmadoc General Discussion (sailing related) 10 11-12-2009 07:58 PM
Average Cost of Ownership gene80 General Discussion (sailing related) 0 09-02-2009 08:30 PM
The Real Cost of Ownership UrroPlatz Boat Review and Purchase Forum 78 06-29-2007 05:21 PM
total cost of ownership grommet Boat Review and Purchase Forum 6 01-09-2005 01:16 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome