Cost of Boating?

[jovial_cynic]

When I've done my calculations, I've often forgotten about the cost of moorage and insurance... but in the opposite way that most people forget about it. We're *already* paying for moorage and insurance on our 40' Tolly, and getting into a liveaboard situation with a larger boat isn't going to increase the moorage and insurance cost significantly. We aren't starting from $0.

With $8/ft at the local yacht club, I'm only adding $100/month to my moorage costs, and the insurance goes up about $150/month. Since I'm already budgeting for the existing boat, my other increased costs are the periodic haulouts (longer, heavier boat), the hull scrubbing (which I am considering doing myself anyway), higher fuel consumption, and larger engines, which I suppose means an increased cost in oil and maintenance. And in the case of needing to replace a propeller or something, some larger costs there. But again - I'm not comparing the costs against $0... I'm comparing them against my current expenses. And this seems within tolerance, as far as I can tell.

 

[syjos]

I have not budgeted or kept track of most boating expenditures in 35 plus years of boating.

Insurance, moorage, and maintenance are necessary annual fixed costs that have to be paid.

As for fuel and repairs, it varies year to year but I don't keep track. I do my own work so the cost is for parts and materials. Fuel and repairs are necessities so they have to be funded.

Replacing outdated equipment is done as needed and when other equipment does'nt need attention.

Adding "toys" is optional. I don't budget for adding new, optional, equipment. I try not to buy too many things at one time and spread purchases over several years.

A boat is a hobby and optional to everyday life. You either can afford it or not, whether your boat is a 18' pocket cruiser or a 100' yacht. It's all relative.

There is no way to predict engine, transmission, generator and other equipment longevity. How do you budget for repairing or replacing one of those?

And keeping a tally of boating expenses will only let you know how big a hole in the water you have. Which I don't wish to know.

 

[ancora]

We boat 12 months of the year; raft-ups, monthly Predicted Log contests, and coastal cruising. We consider our boating costs well worth it as we do get our moneys worth. Keeping a boat in a slip that is rarely used is not feasible for us.

 

[clyde]

hmmm...the annual cost? figured it out yrs ago...we have a 41 skookum, built in port townsend, wa, single volvo, have owned her for 30 yrs, has everything we need...we go north [this will be yr 23] fishing about halfway to alaska, in british columbia, usually put about 325 hrs on skybird each yr...all expenses, moorage, insurence, yacht club dues, yrly fuel, we do all our own maintence, it comes to give or take a buck here and there, to between $4500, and $5000 a yr, depending on where the fuel price goes...clyde

 

[dhays]

Make all your estimates, double it. That’s if you do the work yourself. Don’t sweat the cost of fuel, it pales in significance with insurance, mooring, haulouts etc.

Well said.

 

[FF]

NO cost percentage can be an absolute number , BUT a good percentage of the annual guess is actually reserve funds.

What IF I need ....exhaust manifold, new heat exchanger , or even a replacement engine or fuel tank?

 

[Tom.B]

I have not budgeted or kept track of most boating expenditures


And keeping a tally of boating expenses will only let you know how big a hole in the water you have. Which I don't wish to know.

Yea... On our first boat, I tried to keep track, but it got overwhelming and rather depressing. I just gave into the idea that this was our chosen lifestyle, and since every waking moment of every day has my brain doing something boating related (even at work), all of our spare income was going to fund the decision.

"Where your mind goes... your wallet follows."

 

[syjos]

Yea... On our first boat, I tried to keep track, but it got overwhelming and rather depressing. I just gave into the idea that this was our chosen lifestyle, and since every waking moment of every day has my brain doing something boating related (even at work), all of our spare income was going to fund the decision.

"Where your mind goes... your wallet follows."

I agree 100%

 

[Rufus]

Great Lakes...44 Ocean Alexander...home in Texas. Slip and storage based on 48' overall length. ~$5000 for summer slip, ~$4500 for heated winter storage (includes haul out and launch). Insurance $1500. $1000 for house sitting and yard maintenance during boating season. $3000 for travel to/from boat and a week of boat prep in spring and fall. $1000 for annual maintenance. So, about $16,000 exclusive of fuel (for a four month boating season). Between 10 and 15% of boat value. We could probably rent a decent waterfront cottage for the same amount. Is the boating experience worth it? Becoming less so every year....

 

[bgillroy]

Unless you can enjoy boat where or near where you live it's expensive and weather will take you out of some desirable times ....you'll have a short season. We live aboard 365 on 42 trawler. When we worked had house and other demands we had trailerable 25ft we took when where we wanted a weekender.

 

[Sailor of Fortune]

Here's a thought.

This boat sold for $4,000. It took a year and a half to restore, with costs probably double that of the sale.

But look at the results, and no mooring costs!

So for less than 20k you have a coastal cruiser with all the comforts of home that you can also launch at any inland lake and use as a guest house when parked in the back yard.

Mine was in substantially better shape at 10k and I put about 10k into it.
We sleep 7, she has generator to power her rooftop air conditioning, hot water stand up shower, full - double sink galley, 4 burner stove, microwave, and a freezer on the aft deck.
https://72land-n-sea.blogspot.com/2012/09/houseboat-2000-miles-to-lake-powell.html

If you want a 'jewelry boat' these obviously aren't for you, but if you want a coastal liveaboard at an affordable price with negligible maintenance, it might be an option?

I love this niche boat. It is well thought out for its intended mission. You did a really nice job on the restoration. Kudos!

 

[Lepke]

I solo most of the time. Divorced 30+ years, but whose counting?
I like the quiet, lack of demands, no in-laws, you name it. I usually have a friend along for long ocean legs.

 

[Mark P]

Well, this thread seems to be about the best place to post this info to the extent it helps others. We've got our boat for sale and are now seriously looking at trawlers. On the maintenance issue, I just looked at 42 ft single engine trawler built in 2008, and probably on third owner.

This boat was listed for a bit north of $500, and contracted at about $460 - broker told me survey is underway. Broker shared maintenance records - very detailed by professional yard. Excluding fuel, washings (also done by yard), this owner spent about $80K over 46 months of ownership - about $1800 per month average. The yard did a lot of stuff like replace racors, adjust valve lash, fix oil leaks, new prop, new drive shaft, acid wash A/Cs, new batteries, rebuild thrusters, new aftercooler, turbo work, sump pumps, sea strainers, acid flush manifolds, replace impellers on both main and genset etc.

Quite a list - not sure if this is typical for a boat of this age (this owner bought the boat when it was about 8 years old) and now has less than 2000 hours on main and genset. One thing that sort of shocked me was that this boat need new upper helm canvas, and a total paint job on the hull, and still received a near 90% contract. The gel coat looked very very faded. So hope this info helps others looking to assess maintenance costs.