Cruisers Forum

Go Back   Cruisers & Sailing Forums > Scuttlebutt > Dollars & Cents
Cruiser Wiki

Join CruisersForum Today

Thread Tools Rate Thread Display Modes
Old 16-03-2010, 16:54   #16
Senior Cruiser
Captain Bill's Avatar

Cruisers Forum Supporter

Join Date: Apr 2008
Location: On the boat
Boat: Endeavourcat Sailcat 44
Posts: 2,098
I would guess that mine will average about 10-15K per year. I do most of the work myself, But I suspect that there are some major things on the horizon now that the boat is 8 years old that will be pretty major. I need a new enclosure for instance, recently quoted at $4000. I have access to a sailrite sewing machine and figure I can do it myself for about $1200. We'll see. I'll probably need new sails in a couple of years, but I won't tackle those myself. Standing rigging looks good, but will be replaced with the sails. That will be pretty interesting. My house bank is still doing well but at 8 years even AGMs are getting a bit long in the tooth. I need bottom paint this year. I get that every three years for a couple thousand. Two years ago I had some saildrive trouble, to the tune of about 4 thousand. Some minor things like a new freshwater pump. Cost me about $500 to build new bow seats when the originals failed. I'm convinced that the ones I built will last longer than 7 years but only time will tell. And of course there's the 1% I put out just for insurance every year. Fortunately I pay about 1% of current value for this. Many companies have offered to let me pay 2-3%, the upper range of which is approaching 1% of the new replacement value. I could easily be paying $7-8000 per year for dockage if I wanted to stay in high or even medium class marinas. I choose a nice out in the boonies marina with few ammenities. When cruising I try to stay on the hook as much as possible, so those costs are lower when I'm cruising. If you stay on the hook most of the time and don't motor everywhere you go I think you can do it for 40K per year as long as you have a good capital kitty for major breakdowns.

Captain Bill is offline   Reply With Quote
Old 17-03-2010, 00:53   #17
Boracay's Avatar

Cruisers Forum Supporter

Join Date: Feb 2004
Location: Pelican Bay, Great Sandy National Park
Boat: Steel Roberts Offshore 44
Posts: 5,175
Images: 18
My rule of thumb...

My rule of thumb has been that the total cost of boat ownership can be estimated at 25% of boat market value, plus insurance and mooring/docking.

For this figure I figured on 7% maintenance, 6% depreciation and 12% loss of earning capacity of the money tied up in the boat, using an estimated boat value of $100,000 (mono in good condition used often).

Having had a few large bills recently the 7% may be a little low, as may the 6% depreciation, while in the current climate the 12% loss of earnings is probably a little high.

Of course much larger, or much smaller boats could have very different figures.

But all in all, if an owner figured on 33% of boat value over the ownership period I feel it might be one tool in doing a feasibility study.

Rust never sleeps
Boracay Blog.
Boracay is offline   Reply With Quote
Old 18-03-2010, 08:30   #18
CF Adviser

Cruisers Forum Supporter

Join Date: Dec 2007
Location: Wherever our boat is; Playa Zaragoza, Isla Margarita
Boat: 1994 Solaris Sunstream 40
Posts: 2,408
Boracay, you are of course correct that in any assessment of the true cost of boat ownership one must take into account depreciation and the lost earnings on the capital invested. In this instance, however, I think the original post concerned solely maintenance costs. In any event, that may go a long way towards explaining the higher figures that are sometimes bandied about: they include depreciation (initially, that can be as high as 10% on a declining balance basis), lost return on investment (even now, one would think at least 5%), maintenance and a reserve for capital expenditures ( 2.5% IMO for even the DIY crowd), insurance (typically at least 2%), plus docking.

Southern Star is offline   Reply With Quote
Old 21-03-2010, 07:36   #19
Registered User
EllanVannin's Avatar

Join Date: Mar 2010
Location: Lyttelton, New Zealand
Boat: Beneteau 40CC Oceanus 1998
Posts: 123
Have just done the add up of costs after one full year of ownership. We have always worked on the 10% of your purchase price theory.

Sure enough the total spent in the last twelve months has been just about the ten percent mark. This is of course on a yacht not a cat so that will figure in. Our costs included high daily casual rates at the marina(which accounted for $7500 of the $20,000 spent) , insurance and basic maintenance. Just normal regular maintenance no major refits of rigging, sails, engine etc. We have done 90% of the labour ourselves.

Hope this helps
Regards Clare
EllanVannin is offline   Reply With Quote
Old 21-03-2010, 09:37   #20
Registered User

Join Date: Nov 2007
Posts: 82
I don't think anyone has ever claimed 10%-25% of purchase cost / year on maintenance alone. That is a strawman.

I think 10%-25% of purchase cost per year as a total cost of ownership sounds like quite reasonable bounds -- including insurance, depreciation, opportunity cost of money, marina fees, maintenance, etc. Of course it's a pretty wide range so it's easy to hit!


Sparohok is offline   Reply With Quote

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Average Cost of Maintenance - Cat vs Mono forsailbyowner Dollars & Cents 2 26-09-2009 07:53
Cost of Living Aboard - Maintenance seaparrot Liveaboard's Forum 50 20-08-2009 06:03
Steel Boat Maintenance ViribusUnitis Monohull Sailboats 24 20-08-2009 04:10
True Cost of Maintenance? virginia boy Monohull Sailboats 14 06-07-2009 00:39
NYC > Vancouver - One Year - Cost? keepdreamalive Dollars & Cents 6 19-06-2009 04:36

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities

Copyright 2002-2015 Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 13:17.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.