While cognizant of the adage, "if you have to ask, you can't afford it" I'm going to ask anyway: What are the average costs generally associated with owning a used 25? ie. Slip fees, winter storage, shore power, maintenance, insurance, haul out, towing, etc. I realize there will be variance by jurisdiction and demand, but I just need an idea to rationalize this to the boss. I plan to keep the as yet unpurchased boat in the water on the Chesapeake Bay and occasionally take it up to Lake Ontario. Thanks to all in advance, this is a great service!
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You've got the big ones
Insurance would be good to add. I think I've read that general maintenance will run about 2-3% of the price of the boat per year, but the real killer is all the gear you 'must' have. Stay away from: Practical Sailor, West Marine, boat shows, and you'll save a bundle. Sailing is like learning about good wines: it's an expensive, addictive habit but worth every penny!
Insurance would be good to add. I think I've read that general maintenance will run about 2-3% of the price of the boat per year, but the real killer is all the gear you 'must' have. Stay away from: Practical Sailor, West Marine, boat shows, and you'll save a bundle. Sailing is like learning about good wines: it's an expensive, addictive habit but worth every penny!
The first year is the worst . . . and the best
As you figure out what the first year is going to cost, don't let it scare you off. It gets better. You won't need to recommission everything every year. That said, do have a slush fund. Good luck with the justifying, it sounds like your part of the decision is already made. Justin - O'day Owner's Web
As you figure out what the first year is going to cost, don't let it scare you off. It gets better. You won't need to recommission everything every year. That said, do have a slush fund. Good luck with the justifying, it sounds like your part of the decision is already made. Justin - O'day Owner's Web
My 25 Costs This Much
Slip- $1000 Haul out and tow home- $75 each way Storage-$200 at marina, includes winterizing (I store ontrailor at home) Shore power- included in slip, I estimate I use about $50/season Insurance-$400/year (an estimate, I don't insure my boat) Maintenance- $250/season Looks like about 2K per year, plus I usually, replace, upgrade or add 1 big ticket item per year. This year it was new 6V deep cycles and a 3 stage smart charger, last year it was a furler and a new main, year before it was a cockpit enclosure, and on it goes. Remember you don't have to add anything to your boat, it was my choice, you will enjoy your boat just as much as I will, its all relative. Hope this helps. Don
Slip- $1000 Haul out and tow home- $75 each way Storage-$200 at marina, includes winterizing (I store ontrailor at home) Shore power- included in slip, I estimate I use about $50/season Insurance-$400/year (an estimate, I don't insure my boat) Maintenance- $250/season Looks like about 2K per year, plus I usually, replace, upgrade or add 1 big ticket item per year. This year it was new 6V deep cycles and a 3 stage smart charger, last year it was a furler and a new main, year before it was a cockpit enclosure, and on it goes. Remember you don't have to add anything to your boat, it was my choice, you will enjoy your boat just as much as I will, its all relative. Hope this helps. Don
Expenses
Steven, You do have several options for slip rentals. I just bought my first boat and am learning a lot. The city marina is the most expensive ($135/mo) in the area for my 27' O'Day. Several outlying towns have marinas ranging from $40 to $90, but they are as far as 50 miles for the cheapest ones. Several nearby resort condominiums rent their canal spaces for $70 to $90. The cheapest local option (since Padre Island is only 5 miles away) is to rent from a home-owner who lives on a canal but has no boat (there are several such persons). These usually run about $45/mo. You can place a wanted ad in your local newspaper or "ad-sheet" publication. Please note, these prices reflect the lower Gulf Coast which has a somewhat depressed economy. Also check your insurance policy provisions about liability to the potential homeowner in case of damage. On the topic of Insurance, I'm still looking. Please let me know what you find. I've checked GEICO and got a quote of $519/year. Have not checked any other companies yet. Good Luck, JimC
Steven, You do have several options for slip rentals. I just bought my first boat and am learning a lot. The city marina is the most expensive ($135/mo) in the area for my 27' O'Day. Several outlying towns have marinas ranging from $40 to $90, but they are as far as 50 miles for the cheapest ones. Several nearby resort condominiums rent their canal spaces for $70 to $90. The cheapest local option (since Padre Island is only 5 miles away) is to rent from a home-owner who lives on a canal but has no boat (there are several such persons). These usually run about $45/mo. You can place a wanted ad in your local newspaper or "ad-sheet" publication. Please note, these prices reflect the lower Gulf Coast which has a somewhat depressed economy. Also check your insurance policy provisions about liability to the potential homeowner in case of damage. On the topic of Insurance, I'm still looking. Please let me know what you find. I've checked GEICO and got a quote of $519/year. Have not checked any other companies yet. Good Luck, JimC
25 on bay too
I have a 25, insured with Boat US, and pay less than 100 a year for liability only coverage. Which sort of stinks, as two months after purchase and insurance decision, a lightning strike wiped out all electrical - lights, radio, new depth finder, outboard starter. So goes it. I have a friend that lets me use a slip for free, and I did a 1200 dollar deck re-core myself for about $150. So you can control costs a lot of ways.
I have a 25, insured with Boat US, and pay less than 100 a year for liability only coverage. Which sort of stinks, as two months after purchase and insurance decision, a lightning strike wiped out all electrical - lights, radio, new depth finder, outboard starter. So goes it. I have a friend that lets me use a slip for free, and I did a 1200 dollar deck re-core myself for about $150. So you can control costs a lot of ways.
Insurance
Ahoy Steven: If you own a house, you might want to check with your current insurance carrier. My boat is covered through my home owner's insurance, because it is under 26', so I don't pay anything extra, liability only. Regarding storage cost, I have a trailerable and store it in a local RV storage yard for $35/mo. Hard to beat! Good luck
Ahoy Steven: If you own a house, you might want to check with your current insurance carrier. My boat is covered through my home owner's insurance, because it is under 26', so I don't pay anything extra, liability only. Regarding storage cost, I have a trailerable and store it in a local RV storage yard for $35/mo. Hard to beat! Good luck
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