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Old 27-12-2015, 15:44   #1
er9
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Need help on first sailboat purchase expenses

Hi i'm a long time lurker on this site but finally found a boat I want. I am going to be putting an offer on this sailboat (my first) this coming week and am pretty confident it will be accepted. So now that this is getting serious i have tried to start putting together a list of post offer costs that will be associated with the purchase. I'm not trying to add in any costs that will come with upgrading and repairing after purchase. This is more of a list of expenses between an accepted offer until the time i take ownership and place it in my slip...hope that made sense.

Here is what i have come up with so far but i need experienced help to add in or correct anything i may have missed. the boat is in southern california so approximations of cost i have made are roughly based on this area. thanks...

expenses list for 36' sailboat purchase price $20,000

survey/ out of water including engine (not including haul out fee) $750
Haul out for 24 hrs $300
Insurance (deposit only) $350
new slip fee's (deposit and first month rent) $1200
sales tax 10% $2000
registration fees $250
miscellaneous fees expenses $500
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Old 27-12-2015, 15:54   #2
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Re: Need help on first sailboat purchase expenses

We bought our first boat in April (in Canada). This is most of the unanticipated costs we incurred. Hope it helps and enjoy!

Broker (10% cost to the seller) $0
Flights to Vancouver $544.16
Mechanical Inspection $683.05
Oil Samples (engine and transmission) $115.90
Boat Lift & Hold $309.75
Survey $1126.65
Rigging Inspection $0 (broker supplied)
Insurance $917
Wire transfer fee $80
New boat lettering (license number) $80
Remainder of mechanical issues $1500
Flights to Vancouver $1000
Hired Skipper $400 (for offshore delivery)
First monthís moorage (which we didn't use because the boat was in the yard) $456
4 Trojan Batteries ó Because the batteries had some bad cells and we are going to be wanting to live on the hook for days at a time. $800
Rocna 22 anchor ó $600
Head Rebuild Kit ó A small leak. I will do the actual repairs myself. $75
Paper charts ó Itís still the law in Canada. $600
Sony Digital Receiver ó All our music is digitized. A CD player that couldnít hook up to an iPod seemed pretty stupid. $80
Boat Cards ó For fun (see below). $40
Vinyl Lettering (installed) ó Installation almost doubled the price, but Iíve screwed up vinyl before. Better to get it right the first time. $500
Fire Extinguishers ó It was a rush and I didnít have time to get the old ones recertified. $125
New Flares ó Safety requirement. $200
Rebedding a leaking hatch ó Not sure if this was a good expense or not butÖ $380
New masthead Nav Light ó Sigh. $100
Temporary moorage at Granville Island ó A boating Gotcha. You have to pay for the moorage at the repair yard. $1500
A dinghy safety kit ó Itís the law. $50
A new inflatable pfd for Leslie ó Itís a comfort thing. $150
3 new life jackets ó For the dinghy, so we donít have to use the inflatables and to replace the old scummy ones. $120
A new windex ó So we can see which way the winds are blowing. $140
Engine check after overheat ó This one should be obvious. $325
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Old 27-12-2015, 16:47   #3
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Re: Need help on first sailboat purchase expenses

You may as well figure in the "new boat" trip to west marine. It's not really an upgrade so much as a way of celebrating. Seriously, you will likely want/need new dock lines, fenders, life vests, etc. I am always amazed at the cost of this always needed but never planned trip. If your other half is anything like mine there will also be a similar trip to Bed Bath & Beyond or similar. Also, if the boat has sat for a while add a few hundred in cleaning supplies just to make the boat habitable. Add to that the cost of an engine servicing.

John
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Old 27-12-2015, 16:55   #4
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Re: Need help on first sailboat purchase expenses

Quote:
Originally Posted by Macblaze View Post
We bought our first boat in April (in Canada). This is most of the unanticipated costs we incurred. Hope it helps and enjoy!

Broker (10% cost to the seller) $0
Flights to Vancouver $544.16...............
wow thank you. that helped. there were a few items from your list i will most definately have to factor in
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Old 27-12-2015, 16:58   #5
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Re: Need help on first sailboat purchase expenses

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Originally Posted by Penceler View Post
You may as well figure in the "new boat" trip to west marine. It's not really an upgrade so much as a way of celebrating. Seriously, you will likely want/need new dock lines, fenders, life vests, etc. I am always amazed at the cost of this always needed but never planned trip. If your other half is anything like mine there will also be a similar trip to Bed Bath & Beyond or similar. Also, if the boat has sat for a while add a few hundred in cleaning supplies just to make the boat habitable. Add to that the cost of an engine servicing.

John
lol...luckily its just me so those expenses will be minimal and hopefully be covered by the 'misc' fees but i better add in a bit for engine servicing. there is an overheating problem but i think i'm capable of fixing it once i have time with the boat.
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Old 27-12-2015, 17:16   #6
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Re: Need help on first sailboat purchase expenses

ER9,

Between yourself and Macblaze it looks like you have a pretty complete list.

A couple of items I may have missed [and some may not apply this time...] include:

-Liferaft inspection/recertification
-Oil analyses of existing fluids (what you are inheriting...) in the engine, transmission and generator oil. [This will become your baseline. Also budget a change of all the vital fluids (oil, coolant, and fuel if necessary) and send in a sample at your first change after that to begin your trending analyses.]
-Recertification/recharge of engine room extinguishing system
-Rigging Survey
-Zincs [have on hand if needed during haul-out]
-Bottom paint [for touch-up during survey haul-out if new paint isn't needed for another year or so]
-Budget you are willing to set aside (or negotiate with seller) for any recommendations on Surveyor's report [In my experience the insurance company will give you 30 days to follow those recommendations, and/or refute some (or all) of them in writing]
-Fuel [not knowing the specifics of the vessel you are purchasing...] sampling from deep in the tank(s) and possible removal/tank cleaning/fuel replacement or polishing
-Potable water tank(s) and plumbing [possible cleaning/sterilizing/replacement of some or all]

There may be other items but this is what I can think of at this moment that is outside the realm of repairs/enhancements.

Best wishes with your impending purchase.

Cheers!

Bill
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Old 27-12-2015, 18:05   #7
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Re: Need help on first sailboat purchase expenses

What everyone really wants to know is......what did you get?
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Old 27-12-2015, 18:19   #8
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Re: Need help on first sailboat purchase expenses

Don't forget the title search company fee
Also one more that I did not see listed by others documentation transfer fee ( if documented)
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Old 27-12-2015, 19:28   #9
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Re: Need help on first sailboat purchase expenses

Quote:
Originally Posted by wrwakefield View Post
ER9,

Between yourself and Macblaze it looks like you have a pretty complete list.

A couple of items I may have missed [and some may not apply this time...] include:

-Liferaft inspection/recertification
-Oil analyses of existing fluids (what you are inheriting...) in the engine, transmission and generator oil. [This will become your baseline. Also budget a change of all the vital fluids (oil, coolant, and fuel if necessary) and send in a sample at your first change after that to begin your trending analyses.]
-Recertification/recharge of engine room extinguishing system
-Rigging Survey
-Zincs [have on hand if needed during haul-out]
-Bottom paint [for touch-up during survey haul-out if new paint isn't needed for another year or so]
-Budget you are willing to set aside (or negotiate with seller) for any recommendations on Surveyor's report [In my experience the insurance company will give you 30 days to follow those recommendations, and/or refute some (or all) of them in writing]
-Fuel [not knowing the specifics of the vessel you are purchasing...] sampling from deep in the tank(s) and possible removal/tank cleaning/fuel replacement or polishing
-Potable water tank(s) and plumbing [possible cleaning/sterilizing/replacement of some or all]

There may be other items but this is what I can think of at this moment that is outside the realm of repairs/enhancements.

Best wishes with your impending purchase.

Cheers!

Bill
thanks for your advice...

I am going to forgo the rigging survey. it looked to be in decent shape. i already have conceded it will be in the two yearish upgrade list. same goes for the engine. i am going to forgo a deep inspection and analysis as well because its 30 year old and original. i have deducted (or will) $10,000 from the asking price (broker still thinks my offer will be accepted) on terms that, it absolutely needs a complete re-build (or will get one) including transmission and replacement of fuel tank in year one which i will pay for when ready.

unfortunately money is also an issue in this decision as i dont have an unlimited supply and have to be careful with my spending. that being said if you still think my decision is unwise i would not mind your saying so.

draining fuel is possible and i think i will definately do before moving it to local marina. purchasing boat will require i sail it about 100 miles to my local marina...removing tank is not possible. access is severely restricted without engine being removed.

bottom paint and zincs will be done in first few months after purchase. absolutely needs both.

your post did make me remember fenders for some unknown reason :P
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Old 27-12-2015, 19:34   #10
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Re: Need help on first sailboat purchase expenses

Quote:
Originally Posted by Sea Dreaming View Post
What everyone really wants to know is......what did you get?
not saying until its sitting in my slip :P
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Old 27-12-2015, 19:35   #11
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Re: Need help on first sailboat purchase expenses

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Originally Posted by newhaul View Post
Don't forget the title search company fee
Also one more that I did not see listed by others documentation transfer fee ( if documented)
if i go through a broker do i have to pay these?
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Old 27-12-2015, 19:57   #12
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Re: Need help on first sailboat purchase expenses

Quote:
Originally Posted by er9 View Post
if i go through a broker do i have to pay these?
Unfortunately yes you do have to pay for them just like buying a house you could save the title company fees if the vessel was not thru a broker but in the long run a title search is good it ensures that there are no incomberances to your getting the title free and clear.
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Old 27-12-2015, 19:58   #13
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Re: Need help on first sailboat purchase expenses

And you definitely pay the documentation transfer fee if the vessel is documented
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Old 27-12-2015, 20:44   #14
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Re: Need help on first sailboat purchase expenses

er9, the purchase of mine was a bit less than yours. Post purchases expenses for me much less than represented here so far.

I wonder if the question of expenses as a percentange of puchase is a valid one.

Your looking 25% of 20k.

I could only guess, but doubt mine was over maybe, .. 7%.
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Old 27-12-2015, 22:41   #15
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Re: Need help on first sailboat purchase expenses

i'm going to add up everything iv'e compiled so far. it looks at a glance to be just about 25% but this includes a $2000 broker deposit. i do get this $2000 back but it still does have to come out of savings up front. i hope i get the boat...if i do i'm going to track all the expenses and update this post for reference for other prospective first time buyers.

so far i'm also trying to inflate my expenses so if and when it comes to bear i'm over prepared financially. i hope...lol....
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