What should I budget for annual maintenance costs? - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > On Board > Gear & Maintenance
 Not a Member? 
  #1  
Old 05-07-2002
Senior Member
 
Join Date: Jul 2001
Posts: 459
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
DuaneIsing is on a distinguished road
What should I budget for annual maintenance costs?

[Still accumulating information as we count down to 2005 for the move to Florida and buying "the boat."]

I have heard many different accounts of what sailors spend to maintain their boats year after year, and thought I would poll this group. Often cited is a percentage figure based upon the boat''s value (e.g 10% of the boat''s value annually). I fully realize that any simplistic number like that is going to ignore specific situations. For example, a like-new boat may not have anything major wear out for a number of years, so the annual maintenance cost would be low for a while. Conversely, a very low-value old boat in sad shape would potentially need a lot of money every year to replace equipment and repair deterioration.

To keep the replies relevant, how about those of you with a 5-15 year old sloop near 40 feet with no or minimal exterior wood. Our boat will be sailed year-round, but not likely to see any real offshore duty for the first few years (and maybe not even after that).

Ballpark estimates will be gratefully accepted. Hope it doesn''t cause to much pain to tally it up. Other comments welcome, too.

TIA,
Duane
Reply With Quote Share with Facebook
  #2  
Old 05-07-2002
Jeff_H's Avatar
Moderator
 
Join Date: Feb 2000
Location: Annapolis, Md
Posts: 6,530
Thanks: 5
Thanked 85 Times in 65 Posts
Rep Power: 10
Jeff_H has a spectacular aura about Jeff_H has a spectacular aura about Jeff_H has a spectacular aura about
What should I budget for annual maintenance costs?

I have a free slip and 18 year old 38 foot cruiser. I do most of my own random routine maintenance chores but have the yard do the bottom. The boat is tied up behind my house so it is easy for me to go down and mess around. I expect to spend about 6 to 8% of the cost of the boat per year in maintenance costs. That does not include upgrades which is a never ending process and which I expect will cost almost as much per year. Nor does it include loan payments.

Jeff
Reply With Quote Share with Facebook
  #3  
Old 05-07-2002
Senior Member
 
Join Date: Jul 2001
Posts: 459
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
DuaneIsing is on a distinguished road
What should I budget for annual maintenance costs?

Jeff,

Thanks for the quick reply. So, to apply your expense ratio, our $140K boat (estimated) might well run us over $15K a year for maintenance if we allow for some upgrades.

Our boat will be in our backyard canal, and there won''t be any loan payments, thankfully.

Duane
Reply With Quote Share with Facebook
  #4  
Old 05-07-2002
mikehoyt's Avatar
Senior Member
 
Join Date: Nov 2000
Posts: 675
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 14
mikehoyt is on a distinguished road
What should I budget for annual maintenance costs?

Hey who knows?

If you budget 10% per year you will probably use it and the boat will love you for it. If you budget nothing and then spend 10% you will be upset.

Plan on 10% per year and put upgrades (sails, engines, instruments, etc...) outside of this amount.

My father had a 36 foot sloop purchased new. He then had a 32 foot motorhome purchased new (not much of a trade in my opinion). In both cases he told me that he budgets 10% of value for maintenance. In 20 years this has always worked for him. Now that I have my own boat I find 10% is normal for a typical year with no major projects.

Regards,

Mike
Reply With Quote Share with Facebook
  #5  
Old 05-07-2002
Member
 
Join Date: Mar 2002
Posts: 54
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 13
gnorbury is on a distinguished road
What should I budget for annual maintenance costs?

I''ve owned a 1984 Nicholson 35 for the past 4 seasons and am currently preparing her for extended cruising so the figures may be skewed.

Annual costs:
- slip fees: $3000
- bottom paint: $500 (will do this myself next year!!!)
- land storage (Nov-Mar): $600

Maintenance (spread over 4 years):
- (yr1) transmission rebuild, shaft, maxprop: $8000
- (yr2) standing rigging replacement: $6000
- (yr3) engine overhaul: $300 (parts only)
- (yr4) new instruments, autohelm: $4000
- (yr4) head/msd replacement: $2500
- (yr4) new sails (main & genoa): $2700
- (yr4) replace throughhulls: $700
- miscellaneous other stuff: $$unquantifiable$$

So I guess I''ve spent around $25k on maintenance and upgrades over the last 4 years for a boat which originally cost me $85k. Plans are afoot to spend a further $6-8k on radar, refigeration replacement and new cushions before we depart later this year.

Sounds a lot, but still comes in only slightly above the 10%/yr benchmark.

Graham
Reply With Quote Share with Facebook
  #6  
Old 05-07-2002
Senior Member
 
Join Date: Jul 2001
Posts: 459
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
DuaneIsing is on a distinguished road
What should I budget for annual maintenance costs?

Thanks, Mike and Graham.

Your figures appear to support the 10% number.

I''m sure you are both trying to keep your boats in good, if not excellent, shape. That''s my plan as well. I believe in extending the life of everything by careful inspections, good maintenance, and (of course) proper usage.

Happy sailing, all.

Duane
Reply With Quote Share with Facebook
  #7  
Old 05-07-2002
Senior Member
 
Join Date: Sep 2000
Location: western Penna.
Posts: 248
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
halyardz is on a distinguished road
What should I budget for annual maintenance costs?

In Graham''s post there is some implied wisdom IMHO. Over the course of say five years, it might be wise to budget for at least one "system" upgrade per year on an older boat. If year one its the tranny, year two might be the sails, year three the rigging, and so on. Then there are the demons of destruction that pop up every now and then that require your attention and funds. In my case the first two years were in the 12% range but it is a 1980 boat. And as Jeff suggests its partly a function of how much you do versus how much you have the yard do. Many of us on limited budgets are forced to be "handy"...or at least more so than anticipated due to increasing costs.
Reply With Quote Share with Facebook
  #8  
Old 05-08-2002
Senior Member
 
Join Date: Jul 2001
Posts: 459
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
DuaneIsing is on a distinguished road
What should I budget for annual maintenance costs?

halyardz,

Appreciate your post, too. I agree with the concept of "progressive upgrades," but I''ll have to decide just what schedule to apply. I have read all sorts of stories about the useful life of various boat components. For example, some claim that an engine and tranny have a useful life of about 7 years. I can''t believe that a quality engine/tranny, which is properly maintained and operated with care, wouldn''t last at least twice that.

Maybe I''m spoiled because all my cars get 150-200K miles with no major problems, my car batteries last 6-7 years, etc. I say you buy quality and take good care of it - works for me.

I can be pretty handy (although I''ll need to upgrade my tool set), which will help. I usually will choose to spend 10 hours analyzing and fixing a problem myself than paying a professional for 2 hours'' time. It''s not that I can''t afford to pay, but I derive great satisfaction in learning and doing myself. I think that knowing your boat''s systems intimately pays big dividends over time, especially if you venture offshore for very long.
Reply With Quote Share with Facebook
  #9  
Old 05-08-2002
Senior Member
 
Join Date: Nov 2000
Posts: 407
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
tsenator is on a distinguished road
What should I budget for annual maintenance costs?

DuaneIsing,

Who says that a Sailboat Auxilary Deisel Engine only "have a useful life of about 7 "? Who ever said that is nuts or doesn''t know the first thing about caring for Marine Deisels.

I sold a boat last year that had a 21 year old engine (1980 vintage). It was a Yanmar 2QM15 that had to have well over a 1000 hours and it was still going strong. Maintenance is all that is needed (Fresh oil & Clean Fuel Change impellers/zincs) , and if maintained they last upwards of 5-10,000 hours. I see boats with engines that are dozens of years old everywhere. The only ones that don''t last that long were not maintained properly.
Reply With Quote Share with Facebook
  #10  
Old 05-08-2002
Senior Member
 
Join Date: Jul 2001
Posts: 459
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 14
DuaneIsing is on a distinguished road
What should I budget for annual maintenance costs?

tsenator,

I can''t cite the source of the 7 year life statement, but it was not in a published book, rather a discussion forum like this one. While I appreciate all the advice and opinions I get, I can''t say I value them all equally.

Your point is a good one and the reason why I feel more confident in attaining better than average life out of my (future) boat and systems. I realize there are "lemons" in every piece of equipment, and the marine environment is harsh, BUT I firmly believe that how you treat it makes all the difference.

[I apologize for using automotive examples all the time; someday soon I''ll have boat ownership experience to cite.] Anyway, I have never had to replace brakes in my last 5 cars with less than 120K miles; the 3 manual shift cars still had the original clutches when I sold the cars with over 150K miles! I don''t drive like a granny; I drive fast but smoothly.

Some of my friends, neighbors, and acquaintances are always complaining how their equipment doesn''t last. I observe how they use and maintain it and don''t wonder at all why that is.

Thanks for your post.

Duane
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Annual boat costs maxcontax General Discussion (sailing related) 0 10-06-2004 02:47 PM
Budget Items to be considered.... GarrettK Boat Review and Purchase Forum 10 08-26-2004 04:38 PM
Annual Maintenance costs leonardje Gear & Maintenance 0 11-12-2002 11:37 AM
caribbean maintenance costs zchill Gear & Maintenance 1 06-29-2002 06:34 AM
Best boat for the budget? horizonjob Boat Review and Purchase Forum 4 08-07-2001 01:36 AM


All times are GMT -4. The time now is 05:18 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.