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Old 05-29-2015, 11:21 AM   #41
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This is an interesting and somewhat amuzing thread to me.

To the op. Unless you buy a total piece of junk I think your buget is more than you will need. Is it possible that the engine, generator, windless, and fridge will all die in the same year? Yes, but not likely. I would kill for that kind of a budget. You mentioned that you were thinking of a 37 footer. I can give you my experience with a 36. We bought an old MT 36 with lots of deffered maintenance. We paid $20K for the boat and then put another $30K in the boat over the next 3 years. Had we bought a $50K boat we would not have needed that much of a refit cost.

I know that the way we did it is not for everyone (some don't like to work on boats), but it was the right way for me. This may come from my construction and mechanical background and that I like to work with my hands. I now know my boat inside and out and now there is nothing that I feel uncomfortable tackling.

Everyones buget is driven by four things. Available funds, time, desired comfort level, and their ability/skillset.
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Old 05-29-2015, 11:25 AM   #42
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We track but just because it's my nature, not to make any changes based on what we see. We do it just like all other bank accounts and expenses, both personal and business. We like to know our costs, but we're not going to change our lifestyle as a result.
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Old 05-29-2015, 11:37 AM   #43
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Quote:
Originally Posted by READY2GO View Post
This is an interesting and somewhat amuzing thread to me.

To the op. Unless you buy a total piece of junk I think your buget is more than you will need. Is it possible that the engine, generator, windless, and fridge will all die in the same year? Yes, but not likely. I would kill for that kind of a budget. You mentioned that you were thinking of a 37 footer. I can give you my experience with a 36. We bought an old MT 36 with lots of deffered maintenance. We paid $20K for the boat and then put another $30K in the boat over the next 3 years. Had we bought a $50K boat we would not have needed that much of a refit cost.

I know that the way we did it is not for everyone (some don't like to work on boats), but it was the right way for me. This may come from my construction and mechanical background and that I like to work with my hands. I now know my boat inside and out and now there is nothing that I feel uncomfortable tackling.

Everyones buget is driven by four things. Available funds, time, desired comfort level, and their ability/skillset.
We have taken a similar path. I find it fun and rewarding, but no way I'm gonna put down on paper what I've spent Fortunately my partner doesn't want to know either


BTW, I really enjoy your blog...
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Old 05-29-2015, 11:57 AM   #44
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We have taken a similar path. I find it fun and rewarding, but no way I'm gonna put down on paper what I've spent Fortunately my partner doesn't want to know either


BTW, I really enjoy your blog...
Thanks, and I don't want to know either, but my obsession with numbers makes me.

One thing I find interesting is a lot of people talk about boat maintenance like it is so much worse than that of a dirt house. I don't agree with that. If you buy a 40 year old house (the age of my boat) you will have a lot of maintemance (been there don that) new roof, new A/C, lots of plumbing and electrical issues, and the list goes on and on. I think people are just more famillar with those so they are not as intimidating.
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Old 05-29-2015, 12:25 PM   #45
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One thing I find interesting is a lot of people talk about boat maintenance like it is so much worse than that of a dirt house. I don't agree with that. If you buy a 40 year old house (the age of my boat) you will have a lot of maintemance (been there don that) new roof, new A/C, lots of plumbing and electrical issues, and the list goes on and on. I think people are just more famillar with those so they are not as intimidating.
Combine house and car to compare. Now still one more element, you'd have to drop them in water...lol.

Seriously though, while our boats are more expensive to maintain, our house is far from free. And when we bought our current house, it was "used" as are most houses sold, and the cost of renovation was far more than any single amount we've ever spent repairing or upgrading a boat. Now we didn't have to spend that any more than one has to upgrade their boat.
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Old 05-29-2015, 12:33 PM   #46
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Thanks, and I don't want to know either, but my obsession with numbers makes me.
.
Guess that's me too. But we budget everything. Perhaps it comes with a business background and owning businesses but we budget our house expenses, our boat expenses, our personal expenses. Actually I'd call them more projections than budgets though as we don't hold ourselves accountable and don't panic when we're off. However, we like having an idea of how much we're going to spend in a year and where we'll stand at the end of it. We look at the results every month just as we do our business. We don't spend much time doing so, but it's interesting sometimes.
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Old 05-29-2015, 12:37 PM   #47
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The day I fill mine in is the day she lists for sale. I have no desire to know beyond a rough and optimistic guess.
Like you, I track with a faulty memory and not a ledger.
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Old 05-31-2015, 07:05 PM   #48
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My logic precisely - which is why I'll be moving aboard in the fall

Richard
My fundamental is that it replaces a cottage, or is a mobile version of one. So 30 grand a year isn't so bad, and you do get an extended "family".

If you are blessed with living in a place like Vancouver as I do, a boat is obligatory or you may have a serious cognitive issue - the BC coast in summer and grandkids aboard is the interface of paradise.
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Old 05-31-2015, 08:53 PM   #49
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What a beautiful boat! Love it!

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Originally Posted by TDunn View Post
This year my 1936 woodie will cost me about the following:

Winter storage (includes haul, pressure launch, inside storage and launch - $2,600

Summer Marina cost (June 1 to Oct 30) - $3,584

Insurance - $600

Registration - $85

Annual maintenance (repaint topsides, trim, and bottom, two coats varnish on all external wood, 6 coats varnish on all interior wood, replace three planks, recaulk as needed) - $400

New house battery and an additional solar panel (includes installation of solar panel) - $210

Fuel for 200 hours underway - $200

Oil and filter changes - $70

Total - $7,849 or about $39 per hour underway. Note that I will spend about 75 days on board this summer (it would be more, but I also have a sail boat I don't want to neglect).
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Old 05-31-2015, 11:05 PM   #50
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Originally Posted by READY2GO View Post
This is an interesting and somewhat amuzing thread to me.

To the op. Unless you buy a total piece of junk I think your buget is more than you will need. Is it possible that the engine, generator, windless, and fridge will all die in the same year? Yes, but not likely. I would kill for that kind of a budget. You mentioned that you were thinking of a 37 footer. I can give you my experience with a 36. We bought an old MT 36 with lots of deffered maintenance. We paid $20K for the boat and then put another $30K in the boat over the next 3 years. Had we bought a $50K boat we would not have needed that much of a refit cost.

I know that the way we did it is not for everyone (some don't like to work on boats), but it was the right way for me. This may come from my construction and mechanical background and that I like to work with my hands. I now know my boat inside and out and now there is nothing that I feel uncomfortable tackling.

Everyones budget is driven by four things. Available funds, time, desired comfort level, and their ability/skillset.
Hi READY2GO,
This thread was in response to a question asked in my other thread about locating the 'unicorn boat' -a passagemaker w three staterooms that was less than $350K. The comment was made that I should consider the operating expenses of said boat, and so I did.

This exercise was assuming a 52' boat.

Here's the other thread: Can you help to locate a boat?

I've just started reading your blog.

-Dubnuh
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Old 06-01-2015, 12:36 AM   #51
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Hi READY2GO,
This thread was in response to a question asked in my other thread about locating the 'unicorn boat' -a passagemaker w three staterooms that was less than $350K. The comment was made that I should consider the operating expenses of said boat, and so I did.

This exercise was assuming a 52' boat.

Here's the other thread: Can you help to locate a boat?

I've just started reading your blog.

-Dubnuh

Dubnuh,

I don't know if your budget would work for a 52 footer or not. That is a lot of boat. I will leave that opinion to those with that size of vessel.

I had heard a rule of thumb for sailboats back when I was a sailor that as a general rule when you lengthen the LOA by 25% you double the size (volume) of the boat. I don't know if that rule holds as true for a trawler as it does for a sailboat, but if it does then a 45 footer would be double the size of my 36. Although a lot of the maintenance items double such a paint some others don't. Lots of 44s have the same engine as me. You still need the same number of chart plotters, radars, radios, ect ect. So some costs will be the same, some will double, and some will be marginally more.

As far as what is the best boat. I think the one that allows you the most time and enjoyment on the water is the best one. What good is a "10" boat if it takes you another 15 years to afford it, and once you have it you can not afford to go anywhere with it. I will take a "6" that I can enjoy NOW and travel NOW.

Just my $ .02

Enjoy the blog, but I have been working in LA for the last 3 months and probably have another 2 or 3 to go before I get back to the boat, so not many new posts lately. That will change as soon as I get back cause now I got some boat bucks.
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Old 06-01-2015, 02:00 AM   #52
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I was pretty nervous the whole first year I had my boat. I tend to be impulsive, and wouldn't consider myself an expert on managing finances. I was always a little worried that I was over extended. Every time I pulled into the fuel dock I had a nagging 'can I really afford this' feeling.

I decided one day that I was feeling a little too good, so I added up everything I could remember for the first year. All told with payments, insurance, dockage, repairs, fuel, etc... I spent about 15k. As predicted, that number made me a little seasick. Easy come, easy go, I suppose. Anyway, she'll be paid off in a year and that number should go down by 1/3, and I honestly can't think of anything I would rather have spent the money on. Dammit, I work hard, and I deserve this!

It really has been worth it.
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