Join Date: Feb 2011
Location: San Francisco Bay area
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Re: How much maintenance and repair, really?
To quote BlJones : "In any event, a good solid rule of thumb is to allow 20% of the purchase budget for immediate maintenance, then set aside that amount every year for ongoing stuff.
you may not use it some years, in which case you can shuffle those funds over to the "improvements" budget, which , for some reason, always seems to run short."
I can't offer better advice than this. I bought my 40K boat 3 years ago, and spent 25% in the first year, 20% in the second, and 15% in the third. That's for maintenance and upgrades, doing most things myself, but I paid for bottom work and a re-rig. The boat's essentially had a partial refit.
I expect the long term expense to level out at 10 to 15% per year, that's for maintenance, including a haulout for bottom paint every 2 years (and something else always seems to pop up), and the odd upgrade.
At some point in the future the dreaded engine replacement is likely... better have saved up some funds by then!
So far, the boat has appreciated slightly, or is at least holding its value.
Bristol 31.1, San Francisco Bay
Last edited by MarkSF; 05-30-2014 at 01:52 PM.