Pick my boat

Status
Not open for further replies.
A

Alain

10 yrs ago

Actually Doug, I would suggest that if you had this boat for ten years and maintained it somewhat, at a rate of ~10k$ a year you would have lost the interest on having the cost of the boat money in the bank ibndeed but also invested $100,000.00 to keep it afloat. A smaller boat might have cost you 6~7k/yr. The cost of the boat is the mallest expense in the equation I think. no? a.
 
Ross

Ross

.
Jun 15, 2004
14,693
Islander/Wayfairer 30 sail number 25 Perryville,Md.
Alain, How can someone spend 10,000

dollars per year on boat maintenance? My total cost, slip fees, fuel, paint, varnish, wax, soap, pump-outs and spares never exceeds 2500 dollars per year. My car cost as much as my boat, is depreciating faster and the cost of keeping fuel, insurance, tires, etc. is close to the cost for the boat.
 
D

Don

Easily

slip fee $6,000 winter storage $2,000 insurance $1,400 replace/repair parts (generic to any boat) $500 + bottom paint/zincs $300 general maintenance $100 - $2000 total (min) $10,300
 
sailortonyb Allied Mis

sailortonyb Allied Mis

.
Jun 12, 2004
1,181
Allied Mistress 39 Ketch Kemah,Tx.
Lets assume Don is correct...

If Don is correct, then $10,300 per year total 'housing ' expense is actually pretty good. Thats only $858.33 per month. In actuality, his biggest chunk is in Slip fees and Storage Fees. This can vary drastically from area to area and also depending on how nice of a place you want. I'll bet that you cant live in a waterfront Apt. for that price in his area. When cruising, you can cut the slip fees and storage fees and transfer that money over to your maintenance budget. Besides , WHAT HAS THIS TO DO WITH "WHICH BOAT?"
 
Ross

Ross

.
Jun 15, 2004
14,693
Islander/Wayfairer 30 sail number 25 Perryville,Md.
Don, you must live in the high rent district

My slip fees including haulout, power wash, winter storage and spring launch is $1850 My insurance cost, liability only ( she is too old for hull insurance) is $250 I have one shaft zinc and bottom paint requires one gallon. I rebuilt the raw water pump this year for $68. Fuel is less than ten gallons per year. So my total is well under $2500 per year.
 
sailortonyb Allied Mis

sailortonyb Allied Mis

.
Jun 12, 2004
1,181
Allied Mistress 39 Ketch Kemah,Tx.
Lets assume Don is correct...

If Don is correct, then $10,300 per year total 'housing ' expense is actually pretty good. Thats only $858.33 per month. In actuality, his biggest chunk is in Slip fees and Storage Fees. This can vary drastically from area to area and also depending on how nice of a place you want. I'll bet that you cant live in a waterfront Apt. for that price in his area. When cruising, you can cut the slip fees and storage fees and transfer that money over to your maintenance budget. Besides , WHAT HAS THIS TO DO WITH "WHICH BOAT?"
 
D

Don

"high" is a relative term

The figures I mentioned don't include entertainment while cruising, don't include dock fees, electricity for the AC and other applicances while at the dock, etc.. It's not hard to imagine spending lots more depending on lifestyle and boat choices. One of the boats docked at the end of the pier from us at Marthas Vineyard this past summer was spending $800/night on dock fees. The point is that there is no such thing as a typical budget.
 
D

Doug Burton

.
Jan 13, 2006
134
- - Chesapeke
Nothing

I was just happy they don't depreciate by model year like a car, yet they don't rise in value with inflation either.
 
Ross

Ross

.
Jun 15, 2004
14,693
Islander/Wayfairer 30 sail number 25 Perryville,Md.
Earlier in this thread I remarked that

the forty footers were too costly, big, etc. Transient slip fees are by the foot dockage in our marina is by range of size. I believe that it is safe to say that keeping a forty foot boat will cost substantially more than keeping a thirty foot boat. If you entertain on board in the summertime then you should enjoy the reciprocal hospitality of your summertime guests in the winter time. I don't count the cost of hospitality as a boating expense because I am as likely to entertain at home as on board. However all that said, this was about helping someone choose between two simular forty foot boats and we have gone off on a tangent. It is not valid to consider a boat as an investment because it will not and can not return a profit.
 
Tom Spohn

Tom Spohn

.
Jun 7, 2004
383
Schock 35 Seattle
Another Way

to look at this is to check out the boats in question here: http://www.image-ination.com/sailcalc.html Just type in both boats and the resulting chart will tell you something about how they will sail. These characteristics can then be compared against the type of sailing you plan to do.
 
A

Alain

T HAS THIS TO DO WITH "WHICH BOAT?"

Tony, I just mentionned that because Doug mentionned that after discovering that the boat dont depreciate as much he was incline to look at bigger boats, my point was only that purchasing the boat is the cheapest part of the hobby. Maintenance, expense, etc. grow exponentially with size, regardiong the 10k$/yr it come from my experience 6 yr of Hatteras 45 average 10k/yr (CDN$, granted). So as mentionned in another thread about 8% of boat value per year. But yes we are drifting from the original, earlier and very interesting topic of this thread. Cheers, a.
 
T

Tom S

Doug what do you mean by

"$125,000 ranchers on the intercoastal. Those people are now on suicide watch." Are you saying there are ranch house's on the intercoastal water way in Maryland that are going for $125k? Are they losing money and did they purchase those houses on the intercoastal for significantly more money?
 
T

Tim

Correct me if I'm wrong......

.........I understood Doug to mean that people who sold there water front homes in 97' for 125K are on "suicide watch" because they can now see how much they lost in appreciation over the last nine years. Tis the case with all Realestate. Tim
 
D

Doug Burton

.
Jan 13, 2006
134
- - Chesapeke
NO NO

That house was in Florida, it's probably over a million now. If that would have been mine and I sold it, you would have to keep me from making a noose out of my halyard. I'm joking, but man, that guy has to be kicking himself. Really neat link Tom, Thanks And on the sub topic, boat operating and ownership costs definitly go up by the foot. We spend almost every weekend on a 30' now and with retirement in sight, meaning weeks or months available, 40 seems rational.
 
R

Red

Stand down the suicide watch<G>

Don't worry, Doug. If they got $125k ten years ago, they could have bought ten thousand acres in Arkansas or Tennesee or the western swamps of Florida. And by now, they'd be selling them on late night infomercials with Eric Estrada, for a mere $30,000 per quarter acre. A profit of...geee, I don't know how to count that many percent.<G> I wonder if Estrada has any idea how much money he can make doing the same thing with land in CHINA.<G>
 
sailortonyb Allied Mis

sailortonyb Allied Mis

.
Jun 12, 2004
1,181
Allied Mistress 39 Ketch Kemah,Tx.
I Disagree with Don, there is...

I agree that "High is a relative term" but disagree that " there is no such thing as a typical budget". I think its fair to say there is usually a 'typical' everything. $800/night dock fees is not typical, neither is a $300/Month cruising budget. Thats not to say that people dont do that. Its just not typical. As for a typical cruising budget.....i think it would be safe to say that cruising could possibly fit into several categories. There is cruising for an extended vacation. This can be the costlyest( if there is such a word). Like most vacations, there is plenty of money in the budget for rental cars, restaurants and all sorts of entertainment. And then there is cruising for the sake of living in a different area. Not much different than the idea of relocating on land. And finally, There is cruising just for the hell of it. That is to say that there probably wouldnt be too much in the way of entertainment expenses but enough to allow for being a tourist of sorts and marina transient fees from time to time but living mostly on the hook. Each of these categories would have a "typical" budget. I fall into the last category, and so do MOST (NOT ALL)of my friends. We mainly coastal cruise from Tx. to Fl. A typical budget for us is that we allow ourselves $2,000/Mo travel money. Food, restaurants, shows, museums, booze, diesel fuel and the occasional marina fees. I would call it traveling 2nd class, but not hurting for anything. Some months I have done it on $1,000/Mo. but not very often. Most of my friends are like us and average $12-$1500 per month. I would say this is typical of the 3rd category on the Gulf coast. It can be done on 1K per month, but 2K per month is more than sufficient. This of course does not count my many anchors such as car ins. boat ins. etc. This is just spending money budget. I also think that it would be VERY wise to have at least $5K in a totally separate account strictly for emergencies when traveling great distances. I have seen and met many 'prisoners of St. Thomas', but thats another story. I might just start a new thread with this one.
 
Status
Not open for further replies.

Top Bottom