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  #1  
Old 11-12-2009
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Question Cost of Ownership?

Hi everyone, I am new to the forum.

I am looking at a 28-30 foot cruiser like an O'Day, Pearson, Sabre, or Cal (80's vintage most likely). I will be co-owning the boat with a friend. We were talking the other night about how to split the inevitable costs that come up, like new lines, engine repair, sail repair/replace, and so on.

I proposed that, like in the aviation community, every time we go out on the boat, we pay ourselves some amount of money that would go into a bank account to cover fixed costs (insurance, mooring, etc.) and potential unforseen costs. For example, every time one of us takes the boat, we write a check for $50 for a 1/2 day or some such thing.

Anyway, neither of us had an idea of what might be the average in the realm of "unforseen" costs...$2000, $10,000, $1 million? So, I figured I would ask anyone here who might have a similar sized boat to look back over the last 5 years or so and let me know what they have spend on fiber glass repair, engine repair, sail repair and so on.

I hope you all can help!
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Old 11-12-2009
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If your going to be paying a yard the cost will be much higher VS the same stuff done DIY

Which can be conflict #1 if one owner does not want to DIY

Conflict #2 is what kind of condition you want to keep the boat in

BUT anyway i put 2K into my J24 this spring in standing rigging ,paint ,bottom paint and other stuff and that was just material cost that i felt was needed BUT see #2

I keep that boat on a trailer in my yard in the winter which massively reduces the costs compared to yard storage

My new fix up boat is a CAL 29 which in my driveway (i have a really big yard ) and boat friendly town rules

The motor in any boat that age is the big X factor and i will be repiaring OR replacing the CAL motor this winter depending on what shows up when i remove it
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If a dirty bottom slows you down what do you think it does to your boat
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Old 11-12-2009
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For me so far! Bristol 24'=355$fuel=150$charts=60=prop=50towoffasandbar=1 00$

Welcome! I am also new to the forms and well while I do have some boating exp. I don't have alot of sailing exp. But a boat is a boat right? Anyway I just left the Long Island sound in my new boat and so far I have spent about 1500$ total and thats for the boat. In order to get from there to Green Point Marina in the upper Chesapeake! I think alot has to do with comfort and outside of safty and keeping the boat clean/in good working order. But no matter the cost the time you spend on the boat should always out way the time spent working on the boat. Thats my 2 cents. Get the boat,rent a slip and spend what you can afford. No matter what you guys should enjoy the boat. Again I am a single guy with no kids all I have is a boat for the most part so I am going to spend more on it than I will ever get out of her money wise. But I will enjoy her! Dan

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Old 11-12-2009
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A great deal of the cost is Labor...
Now are you going to hire someone?
Or do it yourself??
With DIY you still have the cost of material. But then you also have the satifaction of doing a labor of love on your boat and accomplishing that task at hand.
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Old 11-12-2009
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Both me and my boat partner are not afraid of DIY, but we would likely send stuff for repair if it is too time consuming since we are both physicians....and free time becomes a major factor in our line of work sometimes. So, if members can give me an idea of the rough costs that they have spent through the years on unexpected events, it would be appreciated. We are both well aware of the fixed costs like mooring, storage, shipping, yacht club dues, license, fees, etc. and we can budget fro that stuff. It's the "oh crap, the sail just tore in half" kind of event that we are looking for guidance.
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Old 11-12-2009
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Don't forget insurance...it sounds like you can source that your self.

as has been mentioned it depends on the standard to which you want to keep the boat. This is something you might want to decide ahead of the purchase. It is sometimes possible to spend very little and have the boat slowly deteriorate or spend in the neighborhood of a $1000 or two a year and probably keep a good old boat roughly in the shape it is in (this is an estimate only a good survey will help identify any upcoming short term - medium and possibly some long term repairs).

Here is a very rough guide to a budget (beyond moorage, licencing, insurance, consumables, etc):

Bottom paint every couple of years varies by area but I would guess about $800-$1000 for a Cal 30 if you outsource. Diving every couple of months (again depending on area for frequency would probably be a few hundred).
New batteries every few years. ($250 for one agm $120 for a standard deep cycle)
One new halyard or jib sheet once a year should keep running rigging in good shape . $100/ year. Or a bunch a once would probable last a few years.
Stuff that breaks...$100 or up depending on use and condition
A new sail every few years $1200.
New cushions $3000 (approx) every 10-20 years.
New toys (equipment)
Engine maintenance $100 per year. (depends on condition)
Standing rigging (answered by survey)
deck, stanchions, life lines (survey)
Upgrades for things the boat doesn't have...discover after sailing for a while $100- the sky is the limit- maybe a few hundered)
Upgrade lines to head - once every few years ($100 plus labor)

miscellaneous (a few hundrered - maybe)

I know I bought a $7000 - 24 foot boat and spent another $5000 by the time I sold it 4 years later...but I installed a spinnaker and bought another new Genoa, redid the bottom, did $1000 maintenance on the Honda out board and kept the boat in good shape but also received the boat in good overall shape.

I bought a $23000, 30 foot this year and spent $1500 on the motor and just spent $1800 on a sail.

How about EVERYTHING you've got!!!!!
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Last edited by GreatWhite; 11-12-2009 at 02:32 PM.
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Old 11-12-2009
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Get estimates for everything that you want to do over the next two years, add them up, then multiply by 2.5. That should get you within $1,000.
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Old 11-12-2009
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It add up quick

The cost of a boat is directly related to how much money you have.


I've owned my 37 foot boat for 12 years now. It was 25 years old when I bought it and so far I've bought or replaced the following:
Suite of sails
engine
chart plotter (twice)
instruments (depth, speed, wind direction)
autopilot (twice)
dodger and bimini

That is in addition to the day to day maintenance and haul-outs with bottom painting. I've never tried to add up the total cost because I'm sure it would be more than I'd like to admit.


GOOD LUCK
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Old 11-12-2009
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Since you are looking at used boats you need to be aware of a couple of things. Make sure you buy a used boat, not a used up boat. One owner boats, beware, they are likely to be used up. When a boat sells a few times it gets repairs or new stuff that the previous owners put off. Remember too that everythingyou buy will be for what the boat cost would be today, not what you paid for it. My $6500 boat would cost $80,000 and parts (like the engine for instance) are priced at that level. I have been keping track of every cent I spent. I need to add it up, just to get really upset.

Gary H. Lucas
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Old 11-12-2009
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I have heard 10% of boat cost per year for maintenance, moorage and insurance, if the boat is in good shape to begin with. I am sure some would say this is high, but if time is valuable to you and you are going to have a yard or independent boat mechanic out to do the work, I don't think it is too far off. Given our ages my wife and I figured we might only own our current boat for 10 years. By the time we are done we expect we will have paid for the boat twice. We keep it in very good condition. Expect the worse and then you won't be surprised.

michael
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