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Old 08-24-2012
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Annual maintenance amount

I just dropped 6.6% of my original purchase price on boat maintenance. I have spent no other money on the boat this year (not counting yacht club and storage fees). I kind of gave my repair guy carte blanche to do what needed to be done. The price tag sort of shocked me. Not sure whether to hide it from the wife or just come clean.

Did I spend too much? Did the repair guy run the flag up on me?
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Old 08-24-2012
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Re: Annual maintenance amount

What did "maintenance" include? Painting the bottom, or cleaning the cushions?
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Old 08-24-2012
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Re: Annual maintenance amount

Good, question, impossible to answer. 6% of what? $5000 or $150,000. What did he maintain and does his price compare to other local vendors. Only you know!
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Old 08-24-2012
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Re: Annual maintenance amount

25K starting price. Gelcoat repairs, tracking and sealing topside leak, cleaning, waxing. No other local vendors - heck, I have to drive three hours to get to him.
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Old 08-24-2012
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Re: Annual maintenance amount

Just did not expect to see the number be that high. This guy always does really good work. I guess what I am saying is - "my wife is going to be pissed"
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Old 08-24-2012
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Re: Annual maintenance amount

Condolences on the impending nights spent in the dog house and/or sleeping on the couch...

FWIW, the labor rates are what usually kill you on simple maintenance chores. You can dodge those by doing the majority of the work yourself, and only call in the cavalry when something is either a) a real threat to losing your boat; or b) is well beyond your comfort or ability level to tackle on your own.

Anyway, a valuable (albeit expensive) lesson learned early in your boating career.
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Old 08-24-2012
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Re: Annual maintenance amount

$1,600 on rebedding topside gear...repairing gelcoat damage and full wash and wax...?

You didn't mention size of the boat but sounds like you got away cheap....

Tell the wife what a good deal you negotiated and how she'll enjoy the improvements without "any" work on her part...
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Re: Annual maintenance amount

Agree with Squidd... $1600 is cheap for anything larger than 25'
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Old 08-24-2012
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Re: Annual maintenance amount

I have spent about 20% of my original purchase price on fixing boat stuff, for the past two years. And that is just in parts. Depends on how much work needs to be done.
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Old 08-24-2012
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Annual maintenance amount

Tell her that the original price was $2000 and that you talked him down to $1600.

Seriously - my dad never really came clean on the boat bills and my mom was not amused. When I purchased my own boats, I started keeping scrupulous track of costs in Quicken. I never hide a dime and my wife may not like a cost but is never mad at me, which is of course the primary goal.

When assigning cost, I put slip rental and insurance into the "Vacation" category. Same with transient slip fees. The Boat category is used for interest and actual maintenance. The boat itself is listed as an asset and the principal payments offset the loan amount, eventually going to zero.

Since she sees the numbers being honestly kept, we've never had boat cost disagreements. But she did just tell me that I don't "need" a Code 0.
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