Yearly costs

[sailortonyb Allied Mis]

Thanks Ross

BTW, I love our Verizon Wireless Internet. We are out in the country and the 'air card' works great. Comes in handy for coastal cruising. generally, If your cell phone works, so will the wireless internet. Anyway, thinks work out good. Contract ended just before X-mas and I probably wont go back to work for maybe 2 more weeks. Time for boat projects and some sailing.Have a nice evening.Tony B

 

[sailortonyb Allied Mis]

Thanks Ross

BTW, I love our Verizon Wireless Internet. We are out in the country and the 'air card' works great. Comes in handy for coastal cruising. generally, If your cell phone works, so will the wireless internet. Anyway, thinks work out good. Contract ended just before X-mas and I probably wont go back to work for maybe 2 more weeks. Time for boat projects and some sailing.Have a nice evening.Tony B

 

[sailortonyb Allied Mis]

Thanks still raining

If I knew i would live to be this old, I would have taken better care of myself.Tony B

 

[sailortonyb Allied Mis]

Thanks still raining

If I knew i would live to be this old, I would have taken better care of myself.Tony B

 

[Stillraining]

I just went and

mixed myself a margarita to help toast your health, It won't do my blood sugar any good either though.

 

[Stillraining]

I just went and

mixed myself a margarita to help toast your health, It won't do my blood sugar any good either though.

 

[Jerry Clark H356 SV Persistence]

5 Year Old H356 Annual Costs

I have over $200K in my 03 356 the way it is equipped (bought new in 03). I will spend under $5,000 per year on the basics, slip, insurance, fuel, oil and impeller changes for engine and generator and I don't do maintenance - I have the yard do it. My costs in 07 were 2.3%. I add a lot of stuff each year - this winter I am adding a remote wireless autopilot control, a dripless shaft seal, and Zarco companionway doors - about $2,750 more. Still all costs are about 3.5% of my cost basis - and my boat is like new! I don't let anything go that needs attention. I am one of the most extravagant spenders at my marina, so the 10% amount is way out of line in the Kentucky Lake area.

 

[Jerry Clark H356 SV Persistence]

5 Year Old H356 Annual Costs

I have over $200K in my 03 356 the way it is equipped (bought new in 03). I will spend under $5,000 per year on the basics, slip, insurance, fuel, oil and impeller changes for engine and generator and I don't do maintenance - I have the yard do it. My costs in 07 were 2.3%. I add a lot of stuff each year - this winter I am adding a remote wireless autopilot control, a dripless shaft seal, and Zarco companionway doors - about $2,750 more. Still all costs are about 3.5% of my cost basis - and my boat is like new! I don't let anything go that needs attention. I am one of the most extravagant spenders at my marina, so the 10% amount is way out of line in the Kentucky Lake area.

 

[sailortonyb Allied Mis]

Myth: Busted

Jerry and a previous poster put the 10% myth to bed, at least as far as new or nearly new boats are concerned. I still say that 10% is a close approximation using the purchase price of an older boat in fairly good condition. The only way I could see 10% happening on a newer boat is if it cost 100K and you add in slip fees and ALL Incidentals. Just normal maintenance, repairs and upgrades wont get up to 10% on a new boat.IMHOTony B

 

[sailortonyb Allied Mis]

Myth: Busted

Jerry and a previous poster put the 10% myth to bed, at least as far as new or nearly new boats are concerned. I still say that 10% is a close approximation using the purchase price of an older boat in fairly good condition. The only way I could see 10% happening on a newer boat is if it cost 100K and you add in slip fees and ALL Incidentals. Just normal maintenance, repairs and upgrades wont get up to 10% on a new boat.IMHOTony B

 

[Ketoj]

Don't buy that 10% "rule" on boat value

I would never relate all-in costs to boat value at purchase, but rather to size, age, fixed costs and desire for ammenities. There are three basic types of costs for boats; maintenance costs which are mandatory, operating costs which are flexible depending upon need and budget (e.g., slip vs mooring) and upgrades which are totally discretionary. My all-in yearly boat owner budget averages $4500 for a 25 year old 34' sailboat. If I look at only maintenance costs over the past few years it's less than $500/year. Not bad for a boat of that age and she's in excellent shape. Good preventive and predictive maintenance will absolutely keep your costs down. However, just like a house roof you need to prepare for those eventual big ticket costs such as replacement sails and canvas that come along every 10 to 20 years. Operating costs for me average $3500/year but I choose to have a slip all 12 months. As for upgrades, the sky is the limit and you can manage this around your budget, alimony, trust fund or lottery payments. If my boat was purchased for $100,000 or $10,000, these costs would change very little! Agree the 10% rule is busted.

 

[Ketoj]

Don't buy that 10% "rule" on boat value

I would never relate all-in costs to boat value at purchase, but rather to size, age, fixed costs and desire for ammenities. There are three basic types of costs for boats; maintenance costs which are mandatory, operating costs which are flexible depending upon need and budget (e.g., slip vs mooring) and upgrades which are totally discretionary. My all-in yearly boat owner budget averages $4500 for a 25 year old 34' sailboat. If I look at only maintenance costs over the past few years it's less than $500/year. Not bad for a boat of that age and she's in excellent shape. Good preventive and predictive maintenance will absolutely keep your costs down. However, just like a house roof you need to prepare for those eventual big ticket costs such as replacement sails and canvas that come along every 10 to 20 years. Operating costs for me average $3500/year but I choose to have a slip all 12 months. As for upgrades, the sky is the limit and you can manage this around your budget, alimony, trust fund or lottery payments. If my boat was purchased for $100,000 or $10,000, these costs would change very little! Agree the 10% rule is busted.

 

[higgs]

A lot depends on where you are

A nearby yacht club provides a slip and membership for boats up to 30 ft for around $500 a year and many of these guys store at my club for about the same. Throw in insurance and bottom paint and they are operating for well under $1500 a year sans replacing sails.

 

[higgs]

A lot depends on where you are

A nearby yacht club provides a slip and membership for boats up to 30 ft for around $500 a year and many of these guys store at my club for about the same. Throw in insurance and bottom paint and they are operating for well under $1500 a year sans replacing sails.