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Old 04-12-2012, 11:24   #1
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2012 Boat Ownership Costs

I threw a little less cash into the hole in the ocean this year, but not by much. So for all the people who visit CF with dreams and wonder what it really costs to have a boat feel free to take a look (it costs more than you think).

I sometimes wonder why I torture myself by keeping track of this stuff.
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Old 04-12-2012, 12:19   #2
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Re: 2012 boat onwership costs

Thanks for sharing. makes me glad I don't keep track of mine.

I need to show this to my wife so she sees how cheap I am .

BTW - taping tape????
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Old 04-12-2012, 12:29   #3
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Re: 2012 boat onwership costs

Just about exactly when I've spent on mine this year. Started the year with a $6400 haulout (yikes!) but since then she's been as good as gold - just been doing some upgrades.
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Old 04-12-2012, 12:37   #4
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Re: 2012 boat onwership costs

Quote:
Originally Posted by ohdrinkboy View Post
BTW - taping tape????
well what else would you use tape for
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Old 04-12-2012, 12:39   #5
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Re: 2012 boat onwership costs

I need to go and buy some wiring wire, and some gluing glue. Oh, and some painting paint.
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Old 04-12-2012, 12:40   #6
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Re: 2012 boat onwership costs

Ahhh, this explains your avatar pic.
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Old 04-12-2012, 12:40   #7
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Re: 2012 boat onwership costs

How about some smurfing tape, to smurf something together with
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Old 04-12-2012, 12:42   #8
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Re: 2012 boat onwership costs

Thanks for sharing Don!
Give or take, this is pretty much 10% of the value of the boat... Is that generally a good number to budget on, or am I looking for a rule of thumb in a sea of fingers?
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Old 04-12-2012, 12:47   #9
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Re: 2012 boat onwership costs

Quote:
Originally Posted by ohdrinkboy View Post
I need to show this to my wife so she sees how cheap I am .
Funny, I was just thinking the opposite. If Wonderblond sees that boaters can get by on less than $1k per month, she's gonna....
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Old 04-12-2012, 12:52   #10
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Re: 2012 boat onwership costs

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Funny, I was just thinking the opposite. If Wonderblond sees that boaters can get by on less than $1k per month, she's gonna....
If it helps the spreadsheet doesn't include boat payments. And the "use" is only 7 months so you could prorate up the operation and maintenance costs.
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Old 04-12-2012, 12:55   #11
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Re: 2012 boat onwership costs

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Thanks for sharing Don!
Give or take, this is pretty much 10% of the value of the boat... Is that generally a good number to budget on, or am I looking for a rule of thumb in a sea of fingers?

I don't feel any rule of thrumb applies as to the ost of the boat. If I had bought the same size older boat I would expect costs to be higher!
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Old 04-12-2012, 13:01   #12
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Re: 2012 boat onwership costs

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Funny, I was just thinking the opposite. If Wonderblond sees that boaters can get by on less than $1k per month, she's gonna....
It helps that I own my slip and dry sail from a lift. No bottom paint, hauling, slip rentals, bottom cleaning, etc.

I spent less than $1k this year. Next year I need to have some canvas done so I may hit 1k.

You could amortize the cost of my slip, but I've had it 18yrs with major maintenance 5 yrs ago.
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Old 04-12-2012, 13:25   #13
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Re: 2012 boat onwership costs

Don, your number seems really reasonable. We keep track of expenses as well. For 2012 we spent approx $17k, however we had some high cost one time expenses in there, such as boat transport from FL to MN that we would not ordinarily have. Also, had to make some investments in items such as a cradle, winter cover, repair of a davit mount that broken when taken off the boat for transport.

This year, 2013, should be much less expensive than year 1 of ownership. Most of our work will be replacing some hoses and varnishing teak. Those expenses should be much less than getting the boat here.
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Old 04-12-2012, 13:28   #14
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Re: 2012 boat onwership costs

Super helpful Don. thanks! I'm building a similar spreadsheet in anticipation of our offer being accepted and moving aboard in May.
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Old 04-12-2012, 21:30   #15
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Re: 2012 Boat Ownership Costs

I didn't do more than glance at your figures, but they seem reasonable to me in the sense that they aren't extravagant and you don't seem to be being rooked for insurance and storage fees.

I also have a 41 footer, but I'm in "fitting out for ocean passage" mode. Your yearly expenses are where I start noticing the creak of the wallet opening!

On a more realistic note, we have figured that the cost to fit out is Purchase Price (X) plus 50% (X+X/2). The yearly running cost is projected (thanks, Beth Leonard et al) to be 20% of the purchase price (X/5). As we plan to be gone five years, the price of world cruising will be 100% of the purchase price.

The kitty is another 100% of the purchase price, and the yield from rental of the house while gone is approximately X/4 yearly. Taxes and utilities will cut that to X/4 or break-even and preserve the kitty for emergencies.

I expect to sell the boat for 60-75% of what I paid, because of all the maintenance you can get through on passage with child labour!

That's our math. Use it as you see fit.
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