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Old 11-23-2012, 01:49 AM   #1
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Your annual $ numbers

It occured to me as a service to our many lurkers and those contemplating a purchase it would be helpful to have in one thread the kinds of cost that we occur so they can make their own calculations. Since boat condition is such a huge variable affecting maintence I thought I would keep with these standard must pay items.
My numbers:
500 Average engine hours
$3000 Yearly marina slip fee (not transient travel slip fees)
$1500 Insurance
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Old 11-23-2012, 02:16 AM   #2
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Well, for us it is usually 80 to 120 hours per year (lots of short weekend cruises year round and one 2 to 3 week cruise), $4,800 a year for moorage (went up from previous years because we now have a 45' slip)' and $1,200 per year for insurance (unchanged in 14 years).
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Old 11-23-2012, 06:23 AM   #3
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Quote:
Originally Posted by Daddyo View Post
It occured to me as a service to our many lurkers and those contemplating a purchase it would be helpful to have in one thread the kinds of cost that we occur so they can make their own calculations. Since boat condition is such a huge variable affecting maintence I thought I would keep with these standard must pay items.
My numbers:
500 Average engine hours
$3000 Yearly marina slip fee (not transient travel slip fees)
$1500 Insurance
Daddyo: How many GPH do you burn? That would help calculate your annual fuel costs.
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Old 11-23-2012, 07:48 AM   #4
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Daddyo: How many GPH do you burn? That would help calculate your annual fuel costs.
2.1gph 1400rpm 6.82 knots
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Old 11-23-2012, 08:07 AM   #5
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80-100 hrs a year
4600 a year for slip
96 a month for divers
380 yearly for zincs
50 to 65 a month for electric at slip
3000 a year for insurance
burn on average about 10 gals an hour for short trips and around 6 for longer trips at slower speeds.
Ave a 100 dollars a night when staying at other marinas, about 15-20 days a year.
Anywhere from 100-250 a weekend when hanging on the boat for groceries, beer and liquor.
around 1000 dollars a year for oil change, filters, impellers and coolant change. I do the work, thats just parts.
2000-4000 just for misc stuff.
I'm sure theres more but that is just off the top of my head. Now take into account I work overseas anywhere from 6-8 months a year and use the boat about 2-3 weekends a month when I am home. 2013 expenses will go up as I am planning on more extended trips as the Admiral is retiring.
Damn now I need a stiff drink. Thanks Daddyo for making me think about it. Hell now I get to go down to the boat and wash it!!
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Old 11-23-2012, 09:04 AM   #6
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Oh no you don't! I just got the boat home. If I do all this fancy math faced with not using it much for the next three months my fantasy will crumble!
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Old 11-23-2012, 09:32 AM   #7
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I quit smoking a pack of cigarettes a day when I was 40, and quit drinking booze 2.5 years ago. That money (around $5,000.00 per year) used to be thrown away without thinking about it.

I'm 52 now, so if I do the math the boat is subsidized for quite a few years, and I should be alive about 15 more years to enjoy it than if I was still smoking and drinking.

Murray
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Old 11-23-2012, 09:43 AM   #8
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445 hrs
4000 fuel (2.6gal/hr)
5000 slip fee
500 slip electric
1600 haul out ,bottom paint, zincs (every 2 years)
2150 transient slips
1200 insurance
300 two engine oil changes
50 trans fluid change
100 cetol bright work
300 wash, polish, wax materials

Base line yearly expense.
Did we really want to bring this out in the open
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Old 11-23-2012, 11:17 AM   #9
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Great Lakes boat, 48' OAL

Fuel As required @ 4.5 gph
Insurance $1100 (Markel)
Summer slip $3500@ small municipal marina with no ammenities
Winter storage $3000 heated...September-May
Maintenance $1000 average..post bottom job and cutless bearing rehab

About $8500 per year fixed fees (early June to mid-Sept usage). A whole lot less headaches than a summer cottage, and lower fixed annual expenses...particularly compared to a waterfront house. On the other hand, a small cottage purchased post 2008 crash would be an appreciating investment. Hmmmm...
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Old 11-23-2012, 11:19 AM   #10
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Quote:
Originally Posted by MurrayM View Post
I quit smoking a pack of cigarettes a day when I was 40, and quit drinking booze 2.5 years ago. That money (around $5,000.00 per year) used to be thrown away without thinking about it.

I'm 52 now, so if I do the math the boat is subsidized for quite a few years, and I should be alive about 15 more years to enjoy it than if I was still smoking and drinking.

Murray
Congrats to you Murray! My wife and I both quit smoking 14 years ago when our grandaughter was born. On her last birthday I caculated our savings at $52,000! This has probably covered the cost of buying, operating and maintaining Budds' Outlet for the past 9 seasons.
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Old 11-23-2012, 11:27 AM   #11
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All I will say about that is this: When Lou asked my biggest fault, I said, "I spend too damn much money on my boat, and that will not change". So, that's still the way it is.
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Old 11-23-2012, 11:49 AM   #12
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Our annualized:
$5000 slip including electric
$200/year pumpout
$1200 insurance
$400 maintenance (oil/filter changes for 3 engines, impellers, coolant change)
$60/month storage

Since we live onboard, that's about it for regular expenses. Estimated fuel usage is about $2k/year.
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Old 11-23-2012, 02:32 PM   #13
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Total Annual Cost (inc Tollycraft and tow behind, trailor-storeded at marina Crestliner runabout = $7,700

$3,200 Covered, gated berth – for no sun or water degradation and good theft protection
1,200 Ins
2,000 +/- gas
1,000 oil/equipment/general-maintenance, new goodies etc
300 Bottom paint etc (haul every few years – intermediate, I dive often to keep clean and new anodes

$148 bucks per week for sheer boating enjoyment any day we might like ain’t too shabby!! IMHO -
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Old 11-23-2012, 03:16 PM   #14
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Originally Posted by Budds Outlet View Post
Congrats to you Murray! My wife and I both quit smoking 14 years ago when our grandaughter was born. On her last birthday I caculated our savings at $52,000! This has probably covered the cost of buying, operating and maintaining Budds' Outlet for the past 9 seasons.
---------------------------------------

Good one. . . . . . . Never thought of looking at it that way, I love it!! So let's see. . . Does that work for me??

Got rid of cigarettes 15 years ago . . . .$ 56,000
The ex-wife 12 years ago . . . . . . . . . $420,000
Total expense off set. . . . . . . . . . . . .$476,000

Boat Expense . over 15 year . . . . . . .-$142,500
Net gain . . . . . . . . . . . . . . . . . . . . . $333,500

Man, that's a great idea. . .I'm way ahead. . I'm feeling better already!!!

(Anonymous)
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Old 11-23-2012, 07:30 PM   #15
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Bought a boat, do regular maintenance, done some extra work, bought a house on the ocean with a wharf so I could have a place to dock it, pay for Marine storage haul out and launch, speed range anywhere from 1kt - 11kts, added upgrades ( instruments ) and pack food aboard. Cost per year ( $rice$ess )

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Old 11-23-2012, 08:33 PM   #16
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150-200 hrs/yr

$3000 fuel
$2100 insurance
$7100 moorage (outside)
$12,000 maintenance/upgrades/future sinking fund
$800 Yacht Club dues

I do my own oil/filter, impellers, bottom paint, wash/wax, brightwork. The rest I hire out. I don't let anything build up on my maintenance list, so address things immediately. I have done some upgrades the past year (Webasto Hydronic, Nav Program and laptop with redundant system). I recently hauled out and did all bottom work. This year I expect to spend far less, but keep my boat account separate for future needs. That way I don't begrudge the expense and the funds should be there.
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Old 11-23-2012, 10:14 PM   #17
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Had the boat a year now and only put 80 hours on the Lehmans (run a B&B so can't disappear in the summer).

$1250 - fuel (includes genny and Dickinson Atlantic cookstove/heater)
$1000 - mooring (private buoy but $1000 to beef it up for the bigger boat)
$ 825 - insurance
$ 500 - annual DIY maintenance/haul/paint (prorated based every 2 years)

Only major system needs on the horizon is repair/replace the LectraSan or junk it and install a holding tank. And bronze McMurry windlass is high quality but the friction plates are starting to slip a bit. Company and main sales agent, Doc Freeman (Seattle) are both long gone so the search is on to find parts before it becomes non-op.
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Old 11-23-2012, 11:03 PM   #18
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Originally Posted by saturnaisland View Post

Only major system needs on the horizon is repair/replace the LectraSan or junk it and install a holding tank. And bronze McMurry windlass is high quality but the friction plates are starting to slip a bit. Company and main sales agent, Doc Freeman (Seattle) are both long gone so the search is on to find parts before it becomes non-op.
----------------------------------------------
Joe
Did you try Anacortes Marine Hardware? Last time I was in there, Mike Demopoulos had some used LectraSan components laying around. It's been a while, but maybe? "http://bitterendblog.com/?p=1715

Also try "Second Wave New and Used Marine" in Bellingham,
Second Wave-New & Used Marine Supplies

Good Luck
Larry B.
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Old 11-23-2012, 11:24 PM   #19
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OK

The slip costs $2700
Insurance costs $2200

We just got done with a total refit so it's hard to tell where annual maintenance will fall.

Between paying for the boat, the slip, fuel, etc... we estimate that it costs us around $25-30K a year for the boating hobby.

Large boats are a lifestyle choice.
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Old 11-24-2012, 02:05 AM   #20
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----------------------------------------------
Joe
Did you try Anacortes Marine Hardware? Last time I was in there, Mike Demopoulos had some used LectraSan components laying around. It's been a while, but maybe? "http://bitterendblog.com/?p=1715

Also try "Second Wave New and Used Marine" in Bellingham,
Second Wave-New & Used Marine Supplies

Good Luck
Larry B.
Thanks for the suggestions, Larry. We were hoping to do a week or two in the San Juans this fall (and also fill the tanks on cheap-to-a-Canuck fuel prices in Anacortes) but it didn't happen. Maybe in early spring.
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