Maintenance costs/issues with a 90’s yacht

[Covey]

We purchased a 1987 Jefferson in 2O13 with 1037 hours on 3208TA's Cat. diesels. Purchased for 90k and survey was "above average condition. Have spent an addition 37k since purchase. These costs are based on injector pumps, valve, head, turbo replacement, new airHeat systems, fore and aft, toilets, stove, canvas and eisenglass replacement and on and on. We are in the rule of 10 percent of original cost per year to maintain. This does not include, fuel, lubricants, dockage, electricity. Still beats yard work! Cost a lot less than owning waterfront property! Go for it! Highly recommend this lifestyle.

[Dr. Sea]

I think you are already infected with "I'm going to own a yacht fever." Resist the urge because I think you are about to make an expensive mistake. You asked about the cost of maintaining and repairing a 50-foot boat. That's a great question, but it's the wrong question. You should be asking what it costs to OWN a boat. Grantmc addressed this question in detail for you. Plug all the info that others have given you about repair and refitting costs into Grant's overview and you should come to the realization that what you are hoping to do is going to cost you a lot more than you have been thinking.

PPLepew gave you the best advice of all.-- charter. You only plan to use the boat 8 weeks a year for the next 3 years before buying the boat you really want. That spells c-h-a-r-t-e-r. You will be lucky if you spend less than 24 weeks a year working on this boat. Have you got enough free time to do that and still get in 8 weeks of cruising? Would you be happy with a 3 to 1 work/play ratio? And would you be happy paying dockage, insurance, etc. for the 44 weeks per year that you aren't using the boat? And what will it cost you to sell it after 3 years? 10% commission to the broker plus more dockage, insurance and maintenance.

If you have an uncontrollable urge to own a boat, and don't want to pay the costs of chartering, consider a middle course--buy a boat in a charter fleet. Moorings or Sunsail or whoever pays for all the dockage, insurance, and maintenance and you get to sail it up to 12 weeks per year.

8-12 weeks per year is not enough to justify owning a boat if you are asking what it costs to maintain it.

[Group9]

Older boats, even when when you factor in age related repairs are usually much more economical than any new boat the same size. Just don't make the mistake of using your entire kitty to buy the boat with no money left for repairs. There will always be stuff on a older boat that has to be fixed. But a thirty year old boat you buy for 50,000 that you have to put 50,000 more into is still cheaper than a similiar new boat that sells for 250,000.