View Poll Results: How much, as a percentage of your boat's value, do you spend on boat upkeep annually?
1-2 % 6 16.22%
3-4% 7 18.92%
5-6% 9 24.32%
7-8% 4 10.81%
9-10% 2 5.41%
More than 10% 9 24.32%
Voters: 37. You may not vote on this poll

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Old 04-25-2017, 05:09 PM   #41
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For $400k I can buy a 70' cockpit Hatteras, a 67' Burger or a 42' Hatteras LRC. Will they have the same maintenance requirements for the same value?
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Old 04-25-2017, 07:09 PM   #42
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Originally Posted by Woodland Hills View Post
For $400k I can buy a 70' cockpit Hatteras, a 67' Burger or a 42' Hatteras LRC. Will they have the same maintenance requirements for the same value?
No. Either one could be the most or least, all depending on age and condition.
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Old 04-25-2017, 07:14 PM   #43
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Greetings,
Welcome aboard.
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Old 04-25-2017, 08:16 PM   #44
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No. Either one could be the most or least, all depending on age and condition.
So estimating maintenance expenses based upon a percent of value is not very useful for planning purposes? I'm trying to get a handle on what my yearly spending would be......

I am thinking that a formula based on displacement, number of cylinders and age might be better.
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Old 04-25-2017, 08:41 PM   #45
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For purposes of a ballpark estimate how about 15% of purchased price for the first two years? That should cover your buns for any differed maintenance and inevitable upgrades and changes you do the first two years.

You'll have the best looking boat at the marina at worst case. Lotsa unused maintenance money to carry over to another line item of the budget best case.
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Old 04-25-2017, 08:50 PM   #46
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Old 04-25-2017, 10:16 PM   #47
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My costs worked out to just over 10% during almost 5 years, although that included re-powering, replacing rigging, replacing windlass, replacing fuel tanks, replacing batteries, a big rewiring job, plus the normal standard servicing.

Its tough to put an exact number on it, as any big repair often included in some form of improvement at the same time. It would have been much higher if I hadn't done almost all of the work myself.

Overall, the maintenance costs have been about what I expected over the first 5 years. I expect the costs to reduce to about 5% of purchase price over the next few years as most of the big ticket items have been taken care of.
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Old 04-25-2017, 10:46 PM   #48
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How about some algebra that includes the age of the boat and the fact that complexity and cost of maintaining the systems generally increases with increases in length?

Maintenance cost= ($150xLOA )[1+0.05(YR-6)]
where LOA is overall length and YR is age in years

i.e, take overall length times $150 for the base 6 yr old boat and you have the base case. If the boat is younger than 6 years it is less than this and if it is older than this it is more. A 26 year old boat may be twice the maintenance cost of a six year old boat and a brand new boat would be 30% less than a 6 year old boat. (you still need zincs , bottom work, normal service interval maintenance etc).

Example 26 year old 40 foot boat is (150x40)[1+(.05x20)]=
$6000x2=$12000

This for maintenance, repair, rebuild, replace and not for upgrade, moorage, fuel, insurance etc.

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Old 04-26-2017, 12:32 AM   #49
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Quote:
Originally Posted by klee wyck View Post
How about some algebra that includes the age of the boat and the fact that complexity and cost of maintaining the systems generally increases with increases in length?

Maintenance cost= ($150xLOA )[1+0.05(YR-6)]
where LOA is overall length and YR is age in years

i.e, take overall length times $150 for the base 6 yr old boat and you have the base case. If the boat is younger than 6 years it is less than this and if it is older than this it is more. A 26 year old boat may be twice the maintenance cost of a six year old boat and a brand new boat would be 30% less than a 6 year old boat. (you still need zincs , bottom work, normal service interval maintenance etc).

Example 26 year old 40 foot boat is (150x40)[1+(.05x20)]=
$6000x2=$12000

This for maintenance, repair, rebuild, replace and not for upgrade, moorage, fuel, insurance etc.

I like it - mostly because it equates roughly to what I am allocating. For my boat (54' and 29 years old) your formula comes to $19,845 per year. I am saving $1,500 a month for maintenance and repairs, which is $18,000 per year. After 2 years I have built up a kitty of $22,000 which is starting to provide a cushion for anything bigger that will inevitably come up.

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Old 04-26-2017, 02:07 AM   #50
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There is an expenditure column in my accounting records headed "Boat" but I never enter any expenditures, I just don`t want to know.
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Old 04-26-2017, 05:51 AM   #51
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In 4 years, 4500 engine hours and 20k+ nm, I have spent about $6,000, so that's less than 1% per year.
Most of that 6k was $3.5k for the fuel tank repair and new holding tank. The rest is mostly oil.
I've had precious little actually break. My hose this past trip was one of the few things like that.
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Old 04-26-2017, 05:56 AM   #52
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I think using the boat often and a lot helps keep that number down, as every mechanical part stays lubricated.
Also the boat was extremely well maintained by the two previous owners. So every though she is 29 years old, all the hoses and belts had been replaced before I bought her.
I did replace all the heat exchangers, but did not count that ($750), as the old ones were good and are now spares.

The holding tank and fuel tank are the two big replacements.

However I will replace all the hydraulic hoses at this point.
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Old 04-26-2017, 08:42 AM   #53
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The biggest question is how was the purchase used?

Just back from a Carrib cruse? You will have a list of gear that can only be repaired / replaced at a reasonable cost in the USA.

Thats the easy one , a traveling , cruising boat.

The big fear is the dock queen , set up like a house that gets 30 hours unplugged a year , if that.

Bring your wallet as lots will be scrap if your choice is cruising.

If a home cottage afloat is the goal, the dock queen could be a delight.

Parts are fairly cheap, labor is expensive, dumb labor is the most costly..
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