Very basic and stoopit questions about costs...

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Hi Jeff. I do not know the name, but there is a yard in Nanaimo that is frequently praised for both their storage cost and their reasonable charges for good repair work. I don’t think there will be many so it shouldn’t be too hard to sort out. I’m in Anacortes at Pacific Marine Center and after looking at many other Anacortes options found their rates to be the most reasonable. ... $240/mo for 31’ boat with power adding less than $20/more. They store several boats in the 70’+ range. With the border closed, I do have a friend with his boat in BC and he hasn’t been able to access it in almost a year. Anacortes is a good starting point to go south to Seattle, west to the San Juan’s or north to the Gulf Islands and beyond. I like your plan.
 
Jeff Lebowski said:
So for starters, I had no idea what it cost to insure a vessel like this, no idea how much it was to moor one, haul one, paint one, etc. So, for ME this thread has been a great source of information. All I knew were asking prices online. So, thanks to all who opined, particularly those who gave me actual numbers.

I am pleasantly surprised at how much boat one can get per 100K spent. While I am not hell-bent to spend a ton of money, I sure as hell don't want to spend too little and wind up with a vessel that I don't really enjoy operating, owning, and most importantly, living on. Then a year or two later having to try and sell it so I can upgrade to something nicer. I already have an idea of what size galley I want, and that size def pushes the price of the boat UP. Might as well get it right the first time.

I saved a fair amount of money and made a little more on the side just so I could splurge a bit during my retirement. I spent a lot of years away from home to get to this point and I invested a lot over those years. I don't need or want a Rolls but I sure don't want an old beater either. I'm 61, Soon I'll be too damn old to spend my days with a palm sander, scraped knuckles, and a bad back.

I fully get it that costs vary wildly between boats and between their owners, particularly when stuff breaks. Especially diesel stuff, turbocharger stuff, refrigeration stuff, and electronic stuff. Most of the maintenance I'll try and do myself. And when I need a pro, I'll call one. I don't want to deal with brightwork, not unless I win the lotto between now and official retirement which is two years off.

So, if I know up front that a boat is going to cost me 15K per year for moorage, bottom paint, and insurance, and average another 15K or so for "expensive unknowns", well that's a number I believe that I can plan for and I can live with.

Thank you again.
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Those are probably reasonable figures, but if you buy a 100K boat that is old and a little sketchy in condition, you could spend much more than that the first year
 
First, $500,000 is far more than you need to pay for a comfortable live-aboard for two people. For that, you could buy Fintry (photo left), whose asking price is actually $499,000.



One couple in our marina is living comfortably aboard a 35' power boat for which they paid $18,000. It runs fine, although the electronics are 25 years old. There are many nice boats on Yachtworld in the 45-60' range that won't cost $500,000. Remember that boats may depreciate some and that like cars, the biggest depreciation is when they are young. Better to buy a 15 year old boat in really good condition and if you keep it in that condition, it will not depreciate much. Many of the trawlers from the 1980-2000 period sell now for more dollars than they cost new, ignoring inflation.

Our annual costs -- Boston inner harbor marina, insurance, annual haul out and periodic above WL painting, maintenance parts, shore power, heating fuel, but not running fuel -- are around $30,000. We cruise long distances, so we haul out every year to keep the bottom clean, but if you don't mind a little growth, you can go several years between haul outs. I do almost all of the maintenance.


I also see an inconsistency -- you say you're going to sell your house and live aboard -- which we did seven years ago. You ask about "hauled and laid-up on the hard for the winter" -- if you're living aboard, you won't be on the hard. You also say you're going to be in Canada -- there's not much of Atlantic Canada or the Great Lakes where you can winter in the water.



Also keep in mind that most boats are not insulated for winter living. We wintered in Annapolis on our Swan 57 at the beginning of our circumnav and the condensation inside the hull was a real nuisance. (Fintry is heavily insulated and uses only about 1,000 gallons of diesel for heat every winter.)


Jim
 
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backinblue said:
Those are probably reasonable figures, but if you buy a 100K boat that is old and a little sketchy in condition, you could spend much more than that the first year
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Agree. Even if the boat is fundamentally sound and well cared for, the refit of electronics, battery and charging systems, cosmetics and a general “major” maintenance of engines etc can add up to many dozens of boat units. Though expensive, it still makes sense to me to correct anything but trivial findings on a survey and budget to make updates immediately instead of having a vague wish list of improvements. That way you, not the next owner, gets the full benefit. Budgeting a minimum of 20-30% above sales price for improvements and to rectify deferred maintenance issues in the first year seems a minimum when acquiring a 20-30 year old “well maintained” trawler.
 
Circumnavigator,

I agree that 500K is a lot of money. I tossed that figure out as a maximum. The more boats I look at online, the more really nice boats I see for a lot less. But, as mentioned I do want certain "things" on this boat and a decent galley is one. It looks to me as though the galley is proportional to the length (and price) of the boat. So that skews my guess upward as to what I'll pay. I'll definitely be looking at gently used boats. Boats in very good to excellent condition. I'm too old and far too lazy for a project.

The tentative plan is to live on the boat for half of the year. Summers in Canada, somewhere between the eastern shore of Vancouver Island and the coast of BC. As far south as Seattle and as far north as we feel like going. Looks to me like a great place to rot on a yot. Then, spend the winters someplace warm, preferably with the boat hauled.

But that is not cast in stone. We could just decide to stay put. Several people have opined that they use their boats in the part of the world year-round. Which is another reason to find a boat that we can grow into and not grow weary of. IF we were to leave the boat for months, I'd prefer to have it high and dry just for peace of mind. But if that's not an option then I'll have to get spooled up on ways to leave it afloat and safe.

And if it's cold on a boat, I know that won't work with Swimbo. Her middle name is Raynaud's. Everyone hears the word "Canada" and they think of freezing temps and snow in winter. This is not the case on Vancouver Island where 40-45 degree air flows off the Pacific all winter and moderates their temps. We have colder winters in Virginia Beach than she had in Victoria.

Thanks for your input.
 
Jeff Lebowski said:
Circumnavigator,

I agree that 500K is a lot of money. I tossed that figure out as a maximum. The more boats I look at online, the more really nice boats I see for a lot less. But, as mentioned I do want certain "things" on this boat and a decent galley is one. It looks to me as though the galley is proportional to the length (and price) of the boat. So that skews my guess upward as to what I'll pay. I'll definitely be looking at gently used boats. Boats in very good to excellent condition. I'm too old and far too lazy for a project.

The tentative plan is to live on the boat for half of the year. Summers in Canada, somewhere between the eastern shore of Vancouver Island and the coast of BC. As far south as Seattle and as far north as we feel like going. Looks to me like a great place to rot on a yot. Then, spend the winters someplace warm, preferably with the boat hauled.

But that is not cast in stone. We could just decide to stay put. Several people have opined that they use their boats in the part of the world year-round. Which is another reason to find a boat that we can grow into and not grow weary of. IF we were to leave the boat for months, I'd prefer to have it high and dry just for peace of mind. But if that's not an option then I'll have to get spooled up on ways to leave it afloat and safe.

And if it's cold on a boat, I know that won't work with Swimbo. Her middle name is Raynaud's. Everyone hears the word "Canada" and they think of freezing temps and snow in winter. This is not the case on Vancouver Island where 40-45 degree air flows off the Pacific all winter and moderates their temps. We have colder winters in Virginia Beach than she had in Victoria.

Thanks for your input.
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Not being mean or sarcastic but I had to chuckle at this a bit: The more boats I look at online, the more really nice boats I see for a lot less.

Almost all boats look phenomenal online, most are a disappointment in person. But good luck with your search and wish you the best.
 
backinblue said:
Not being mean or sarcastic but I had to chuckle at this a bit: The more boats I look at online, the more really nice boats I see for a lot less.

Almost all boats look phenomenal online, most are a disappointment in person. But good luck with your search and wish you the best.
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I have a lot of experience looking at boats on line and then visiting them. Most of the time they are much rougher in person. A good photographer can still fool my expectations. Once in a while a bad photographer gives me a pleasant surprise.
 
Jeff Lebowski said:
Circumnavigator,

I agree that 500K is a lot of money. I tossed that figure out as a maximum. The more boats I look at online, the more really nice boats I see for a lot less. But, as mentioned I do want certain "things" on this boat and a decent galley is one. It looks to me as though the galley is proportional to the length (and price) of the boat. So that skews my guess upward as to what I'll pay. I'll definitely be looking at gently used boats. Boats in very good to excellent condition. I'm too old and far too lazy for a project.

The tentative plan is to live on the boat for half of the year. Summers in Canada, somewhere between the eastern shore of Vancouver Island and the coast of BC. As far south as Seattle and as far north as we feel like going. Looks to me like a great place to rot on a yot. Then, spend the winters someplace warm, preferably with the boat hauled.

But that is not cast in stone. We could just decide to stay put. Several people have opined that they use their boats in the part of the world year-round. Which is another reason to find a boat that we can grow into and not grow weary of. IF we were to leave the boat for months, I'd prefer to have it high and dry just for peace of mind. But if that's not an option then I'll have to get spooled up on ways to leave it afloat and safe.

And if it's cold on a boat, I know that won't work with Swimbo. Her middle name is Raynaud's. Everyone hears the word "Canada" and they think of freezing temps and snow in winter. This is not the case on Vancouver Island where 40-45 degree air flows off the Pacific all winter and moderates their temps. We have colder winters in Virginia Beach than she had in Victoria.

Thanks for your input.
Click to expand...


Jeff,
As you can see from the 4 pages of responses, everyone on this forum has an opinion on what to look for and what to expect. The 1 thing I'd suggest is look at multiple boats and then make your list of must haves, would like to haves and don't wants. As one person said here, the annual cost will be similar to a house of the same value. The big difference is you will pay sales tax on the purchase, so keep that in mind. There is a whole forum for taxes and insurance here as well. I'm only on my 2nd large (longer than a ski boat) boat and while I do most of my own repairs, maintenance and upgrades, there are some things I want that I just can't or won't do. When I first stated looking at a trawler it was suggested I rent what I'd like 1st to get a taste. I never did but that was good advice. Before I bought my first boat I made a list of all the expected expenses as well as travel costs. I live in Colorado but have a boat in Florida. After almost 6 years I've spent less per year than expected but I was ready regardless. After 1 season of living on a boat my wife insisted on getting a condo with a dock. We did and now have our boat right out front. We have grand kids coming up and our hope is we can go out with them. We will travel only on the intra-coastal, but there are still plenty of places to go and sights to see. Good luck and keep us posted as to the progress. And BTW if you do decide on a boat, check back and be sure to ask what to look for and how best to proceed.
 
I get it. And I know that a skilled broker and photographer can work wonders showing a lousy boat. I'm on my 7th or 8th boat, and I mess around with old Mercedes. I'm always shopping. I've seen what one guy's "Mint" means vs what I think it means.

The nice thing about boats is that most of them spend all their time alone tied up at the marina. They seldom leave the slip. That's what I want to find. Some guy who meant well but just never found the time. A guy who was fastidious and well-heeled, who's now getting divorced.

:)
 
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Jeff Lebowski said:
I get it. And I know that a skilled broker and photographer can work wonders showing a lousy boat. I'm on my 7th or 8th boat, and I mess around with old Mercedes. I'm always shopping. I've seen what one guy's "Mint" means vs what I think it means.

The nice thing about boats is that most of them spend all their time alone tied up at the marina. They seldom leave the slip. That's what I want to find. Some guy who meant well but just never found the time. A guy who was fastidious and well-heeled, who's now getting divorced.

:)
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You can go that way, but I don't necessarily agree. Boats deteriorate more from non-use than from being used. Within reason of course, but a boat that sat idle most of it's life because the owner had no time or interest in it, is not likely to be as in good shape as one that was used often and loved and cared for. Searching for the lowest engine hours could be a mistake. Same with other vehicles, regular use keeps them in better condition.
 
backinblue said:
You can go that way, but I don't necessarily agree. Boats deteriorate more from non-use than from being used. Within reason of course, but a boat that sat idle most of it's life because the owner had no time or interest in it, is not likely to be as in good shape as one that was used often and loved and cared for. Searching for the lowest engine hours could be a mistake. Same with other vehicles, regular use keeps them in better condition.
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I'll second this opinion. BUT I just bought a slightly used (less than 700 hours )2003 Main Ship 400. Not the prettiest because the owner stopped keeping it looking nice but continued with oil changes and regular maintenance. He kept it on a lift behind his house and used it "gently" as per the engine surveyor. I bought it for about $35k less than it was worth, BUT will probably spend double that making it what I want. To find the boat you really want try asking around at the dock when you do take a look plus post here what you might want. I posted a Wanted To Buy on a Facebook Main Ship Owners Group and a broker that is on that page saw my request and sent me a PM. If you get creative on your search you'll find what you want. When I was into buying old cars I'd put a note on a car I liked and wait for a call. This really works. I bought my condo that way for below market. You don't get what you don't ask for.
 
Jeff,
To be direct, $100K is a project...no matter what. My advice would be to aim higher and aquire the highest quality trawler with the best maintenance and most upgrades you can get for oyur budget. It's always cheaper to buy someone elses creampuff than to pay retail and yard rates later. It will also impact your yearly costs over the long term if you can buy a well found boat and commit the dollars to keep it maintained.

I personally think $300K is a sweet spot for used trawlers. That puts you in an older Nordhavn 46, a large DeFever 60 flush deck with a dining table and a ballroom for an upper deck or a "bristol" condition Kadey Krogen 42 and lots and lots of option in-between. Depending on your mission (PNW and Alaska for two, solo ocean crossings or a condo in Miami with entertaining space for days).

Lastly, trawler prices seem to be high at the moment. Call it the COVID "what am I doing with my life if I can't travel" effect but people I'm helping to buy an entry level trawler are struggling to find anything at all, even basket cases in the sub-$100K market.
 
I agree with that assessment on price. If I were buying today, 300 would probably be my limit. But in two years, I'm confident that it will be higher. I'm not making this move until then. I am just trying to educate myself ahead of time to minimize mistakes.

I really like Selene 43's. Their layout really appeals to me, though I am sure that there are a dozen other makes that would also fit the bill. I have seen several that appear to be in fine shape, well equipped, and well maintained for less than 400k. Raise that bar to 500 and the options explode.
 
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Jeff, thanks for posting this. It's a very valuable thread. I'm kind of in the same boat as you. Our dream is to retire with a summer home in CO and live aboard in the winter (a la NewTrawlerOwner) somewhere. We're saving our pennies and sacrificing now so that we can possibly afford this lifestyle. Based on my math, I think it's possible we'll be able to afford the purchase price of the boat (something equivalent in today's dollars to a 15 years old Mainship 430 or similar). It's the ongoing expenses that are the real consideration. As much as I love being on the water I'd prefer a different hobby if every needed repair/upgrade becomes a source of stress and frustration due to the costs. I've learned owning a boat is no fun unless you have the money to easily fix whatever needs fixed. And I know myself well enough to know that I'm not ever going to become a really advanced DIY'er. I suppose this could change in retirement but I honestly don't see myself doing any more than basic maintenance and pretty straightforward repairs. If it become's too much of a chore, I'll just stick to chartering! One benefit for us is we both like a simple life and appreciate simple things, so our boat won't have or need all the latest and greatest systems. If we don't need it, we probably don't want it.

From what I'm reading on this thread, it seems most agree that it's generally safe to assume 10-20% in annual costs. I asked my father, who's owned a 36 Carver for the last 25+ years, and he estimates his total costs, including storage, slip, and fuel, probably average out to a bit less than 10%. But his boat is in Michigan so she's only used 5-6 months/yr. and it's in freshwater. Most all of his maintenance is done professionally.
 
TheDory said:
Jeff, thanks for posting this. It's a very valuable thread. I'm kind of in the same boat as you. Our dream is to retire with a summer home in CO and live aboard in the winter (a la NewTrawlerOwner) somewhere. We're saving our pennies and sacrificing now so that we can possibly afford this lifestyle. Based on my math, I think it's possible we'll be able to afford the purchase price of the boat (something equivalent in today's dollars to a 15 years old Mainship 430 or similar). It's the ongoing expenses that are the real consideration. As much as I love being on the water I'd prefer a different hobby if every needed repair/upgrade becomes a source of stress and frustration due to the costs. I've learned owning a boat is no fun unless you have the money to easily fix whatever needs fixed. And I know myself well enough to know that I'm not ever going to become a really advanced DIY'er. I suppose this could change in retirement but I honestly don't see myself doing any more than basic maintenance and pretty straightforward repairs. If it become's too much of a chore, I'll just stick to chartering! One benefit for us is we both like a simple life and appreciate simple things, so our boat won't have or need all the latest and greatest systems. If we don't need it, we probably don't want it.

From what I'm reading on this thread, it seems most agree that it's generally safe to assume 10-20% in annual costs. I asked my father, who's owned a 36 Carver for the last 25+ years, and he estimates his total costs, including storage, slip, and fuel, probably average out to a bit less than 10%. But his boat is in Michigan so she's only used 5-6 months/yr. and it's in freshwater. Most all of his maintenance is done professionally.
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Annual cost could be calculated to include what you absolutely have to pay for monthly. Insurance, bottom cleaning, slip rental.
Then move to costs associated with use. Fuel, maintenance, etc.
Then upgrades. Even that could be must haves vs would like to have.
My insurance is $3300 annually. Slip rental plus hurricane storage is $3500 annually. Use costs add another $2000.
I’m in upgrade and improvement mode now and while you could amortize this over say 10 years, you still need to pay for it. Dingy, motor and davits (used) $5000. New chart plotter (2), radar and auto pilot all self installed $8500. New Bimini, enclosure, seat covers $19,000. I don’t expect to spend this every year but you can see what things can cost.
My best advice, figure 10% of cost annually. If you spend less, great. But some years you may spend more.
Lastly most boat owners sell after 5 years. The excitement fades, the effort or cost is too much, life changes. Good luck!!!!
 
Newtrawlerowner, if you own your house in Denver then it's annual appreciation is more than your total annual boating expenses, so you're doing just fine!

If only I would've purchased my house when we lived there in 2008 and held onto it.....
 
As discussed, while the 10-20% figure can give (sometimes) "ballpark" estimates of costs, there are many factors involved to drastically change that number. Cost to purchase. A $60,000 project boat is going to cost WAAAAY more than the 10-20% of cost for maintenance, repair, and upgrades!!!
DIY vs all "professionally" maintained. For example, to do the major sea water cooling system maintenance on my boat ranges from $200 for DIY to well over $2000 for "professional" work.
Also costs can vary a fair amount by locality. For example, Newtrawlerowner quoted $3500 for annual moorage, while for the same size boat I pay almost $6000.
Some here have given their actual experience, and factoring in the many areas of difference, these actual figures should give a "newby" a good starting point for considering the ongoing costs associated with boat ownership. For most people I have talked with about this subject, they say ongoing costs are usually higher than they first expected. :)
 
TheDory said:
...d repair/upgrade becomes a source of stress and frustration due to the costs. I've learned owning a boat is no fun unless you have the money to easily fix whatever needs fixed. ...y.
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Some observations after living aboard for a number of years now.

We HAVE the dough to fix stuff. BUT that doesn't automatically eviscerate the angst! We have the dough because we were cautious and conscious as well as conscientious for years. And you don't instantly LOSE those traits even if the $$ have adequately accumulated.

Particularly true for spouses. Just haveta sit down and review the books from time to time. Look at in/out flow and do the calculations...
 
As a "local" to your intended cruising area I'd suggest calling some marinas about moorage availability. At 54 feet, I can tell you moorage can be hard to find. I would think sub 50 or sub 45 would be ideal for finding a spot.

Live aboard moorage is basically impossible to find and I've heard numerous stories of people with the "live aboard dream" being dashed by purchasing first and looking for moorage later.

Maple Bay and Ladysmith would be areas I would look into. Although idyllic, cruising around for 5 months isn't realistic, you'll likely spend quite a few nights in marinas until you're more comfortable. Transient moorage is about $2 a foot a night.

Good Luck
 
firehoser75 said:
!!!
DIY vs all "professionally" maintained. For example, to do the major sea water cooling system maintenance on my boat ranges from $200 for DIY to well over $2000 for "professional" work.
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That's very "taken advantage of" considering its only a couple of hours work on a bad day
 
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billdomb said:
Some observations after living aboard for a number of years now.

We HAVE the dough to fix stuff. BUT that doesn't automatically eviscerate the angst! We have the dough because we were cautious and conscious as well as conscientious for years. And you don't instantly LOSE those traits even if the $$ have adequately accumulated.
Click to expand...

Sounds like we are in the same boat but possibly worse for me with boatbuilding and metal trades background as I know how long stuff should take and what is involved vs what dudes try and get away with.
 
Buying a trawler

Jeff Lebowski said:
Considering a trawler to live on for 5-6 months per year, perhaps more.

In very very rough numbers, say I buy a single-engine boat for 500K and do most of my own wrenching.

What are the costs? Obviously, fuel and food are going to be what I burn and eat.

What about:

Yearly insurance.
Moorings/dockage while cruising.
Approx yearly maintenance.
Hauling, bottom paint etc.

Can these be easily hauled and laid-up on the hard for the winter or is that idiotically expensive?

Thanks for any input.
Click to expand...

Honestly, figure 10% of the price of your boat for annual ownership. If it's less, then you win. But you had better be able to afford that figure before you jump in or you will be sad. Now, if you are talking about buying a brand new boat for 500k, your annual cost will be somewhat less. But an older trawler will cost you 10% of the cost of the boat/year for planing purposes.
BTW, you can buy a very nice live aboard boat for much less than 500k, 150k will suffice and 250k will get you everything you want.
 
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Costs

mvweebles said:
I always love these threads. "It depends." Or "All you got." Or "Not possible to answer." Of course it depends - cost of housing, cars, college education, cost to hire a hitman to whack someone......everything depends on something; and anything can vary widely.

Here are some budgetary numbers based on general assumptions. Lifestyle/cruising costs are not included - assume these do not change much from current lifestyle. Insurance is the only one that directly varies by valuation - if the 50-footer is a Bayliner 4788 or something for $200k, than 13%/yr for ownership costs. If the 50-footer is an N50 just listed with Jeff Merrill for around $625k, you're under 5%/yr. I'm not a fan of the 10% number - I'm more comfortable with a rough-assumption build-up such as below. Adjust as needed to suit.

View attachment 112658
Click to expand...

I think you are a little low on insurance for a boat that size and you have neglected to include the costs of things that just "break" that you didn't count on and issues that pop up with older boats while they are being maintained.
Having said that, if you can own an older trawler for less than 10%/annum of it's original cost, then good for you. If you can't afford 10%/annum of the purchase price of your boat, then you can't afford to buy/own that boat. Hope for the best, plan for the worst. And with a boat, there will never be a "best".
 
This question has been asked and answered many times here on T.F. There are so many variables it is hard to get very precise.

The 10% rule works pretty well, double it for the first year though.

One huge fallacy is the fuel cost estimate. Many beginners think they will be spend the bulk of their money on fuel. Simply not true. Fuel costs are down near the bottom, somewhere near the cost of ice, bottled water, laundromat usage,or a restaurant meal now and then.

I hardly include fuel cost in my estimates .

pete
 
LovetoBoat said:
Watching this thread - I have been wondering myself the same type of information.


If you buy a $500,000 boat - do you need another $500,000 to maintain and operate the boat for 5 or 10 years? Ball park is all I want to know...
Click to expand...



Yes.
 
Fuel costs depend on how far you wander each year which also puts wear and tear on all systems. In the North where many are lucky to put 100-200 hours on their systems, snowbirders and fulltime cruisers may put 400-600 hrs per year.


Also, if you but a $1M dollar boat that's 10-15 years old for $500,000...the system failures/replacements, electronic upgrades etc will more than buying an almost new or new $500,000 boat.


What really changes costs dramatically is DIY versus pro repair. Those differences can, but not always vary wildly.


My first couple of years, the estimates for bottom and deck repair might have cost $40,000. I did both for less than $5000. As good as pro work? Well I followed the advice of pros and did sound but maybe not as pretty repairs. I didn't care as I bought a throw away boat for much less than comparable, it was never gonna look new unless I wasted 2X purchase rice on making pretty versus capable, and I had the kind of job that gave me the time and skills to do the work.


Just so many variable that even if you predict a path....life has a way of changing things.
 
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For us, I guess the only thing we really have to pay, is for the insurance (about $2500 a year) and the slip rent, (about $3200 a year).

Everything else, including fuel, is optional.

But, in reality, we go through several hundred dollars worth of diesel every year. We pay a dive service $130 every couple of months to clean the bottom. There is constant varnishing of the wood.

Even an oil change, about once a year, can be some money since our two engines and our generator hold about 11 gallons of oil.

Add in that it seems we need the A/C guy to come fix something almost every year (we have three A/C units), because that is not in my skill set.

I do most of the maintenance work myself, but my slip neighbor pays for everything. He has people working on his boat more days than he doesn't, just doing routine maintenance, washing it, varnishing, etc. I'm looking forward to the day when I know him well enough to ask him what he's paying. Because, I know it's a lot.

But, I always tell prospective owners, if you don't like tinkering around and fixing stuff yourself around your house, then you better be prepared to write some big checks on your boat.
 
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I have been keeping a tally of anything I consider significant in the way of repairs or modifications, and after six years of owning this mere 30-footer the total, not including insurance and fuel and moorage, the total is around $20K. The big expenses amounting to over half the expenses were a new genny for $5K, air conditioner $2.8K, and a medium sized area of hull repainting $2K. However, as time wears on, my expenses decline as in the $635 total for last year - I'm getting a handle on it. :)

Interestingly, the same costs for my wooden Grand Banks over 29 years averaged $5112 annually - again, no fuel, moorage, or insurance figured in.
 
rgano said:
I have been keeping a tally of anything I consider significant in the way of repairs or modifications
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Wouldn't dare keep a list. My wife might find it.

$3000 for new props this year.
Over the past few years, replaced hot water heater, a starter, rebuilt 2 transmissions, new electronics, windlass, 2 new heat exchangers, 4 oil coolers, Rebuilt exhaust system includiing new elbows and new waterlift mufflers,
I could list many pages of small items such as filters, fan belts, impellers, bottom paint, varnish, SS screws, caulk, anchor rode, it doesn't stop.

$4600 Summer storage, $2100 winter storage, It's a luxury item and I have no intention of stressing out over costs. It's pay to play.
 
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