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Old 29-07-2011, 10:16   #16
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Re: Yearly Cost of Ownership

clipper--the slip fees in every area are different. is difficult to predict those as they are constantly on the rise. living aboard raises those even more.
as i said previously-i paid almost nothing formy formosa 41 and i keep on anchor as much as i can--was on moorings in sd-- was 130 per month. not bad.
my tronix came with boat so i didnt have to buy them separately, which saved me a ton..
whether you haul for bottom work yearly or every 5 yrs is up to you.. type of bottom paint also has a wide range of pricing
\re0placement of thru hulls and othr below watwrline needs varies boat to boat
every boat is different as is every owner----factor in th eslip fees and live aboard if you will be doing that,
electronix --first yr only-
provisioning goes on constantly, but only if you eat
insurance-- you will need comprehensive, so that is plus a haul for survey plus survey
and whatever you have included as needs....car, home, whatever, all are in addition to your boat.
is why has been so difficult to make a specified answer to you.

geeeziz--mdr--lol HIIIIGGGHHHH rent district. goo d luck. dont become a dock queen there. is sooo difficult to exit slip there--i hated it. but i am not a yuppie.
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Old 29-07-2011, 10:33   #17
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Re: Yearly Cost of Ownership

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Originally Posted by Clipper4730 View Post
...............The idea is to put the boat in my S Corp charter it out a little write off the losses and depreciation lower my tax bill and have a nice boat to sail instead of spending upwards of 15k a year on charters. "if you have to finance it you can't afford it" Really? I guess anyone who has financed a car or a house couldn't afford it. Thanks again for the sincere replies

The boat will be either a 49 Bene two cabin or a new leopard 39 based in SoCal probably Marina Del Rey
I recall your earlier posts with questions about costs at liveaboard marinas and your plans four months ago to live aboard a catamaran for a couple of years. Is this still a part of the same living aboard plan or is this a new scenario?
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Old 29-07-2011, 11:59   #18
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Re: Yearly Cost of Ownership

We are still considering the liveaboard however my airline was just bought by another and alot of things will change, at least I should get a nice pay. I still want to liveaboard but are exploring other options. A broker friend makes a compelling argument for using the boat as a business and tax shelter. Well see, I still want to liveaboard but only time will tell. A nice sailboat and an apartment nearby sounds like a good alternative. A good deal came up and probably won't last long so might pull the trigger earlier than planned.

Again thanks for the good advice
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Old 29-07-2011, 12:41   #19
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Re: Yearly Cost of Ownership

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............................. A good deal came up and probably won't last long so might pull the trigger earlier than planned.
Again thanks for the good advice
Good luck with the new plan. As we are living on a 38 year old boat that was paid off many years ago and we complete mostly DIY updates and much time anchoring out, our advice about the "cost of ownership" is pretty much useless; though, I will strongly agree there is a huge difference in cost for the same needs in different locales.
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Old 29-07-2011, 12:51   #20
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Re: Yearly Cost of Ownership

Comparing boats to houses, cars, and airplanes may or may not make sense.
Generally, one doesn't borrow money to invest and expect to come out ahead.
Tax situations vary, and if you have a large taxable income, depreciations can help, but as I understand it, if you don't roll them over, you must pay them back.
Anyway, that's between you and your tax guy [ please tell me you have professional help ] and I'm glad to hear you are doing well.
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Old 29-07-2011, 13:13   #21
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Re: Yearly Cost of Ownership

Thanks Capt Force and everyone else for the good advice as always it much appreciated. As far as our plans go they are still up in the air literally. I just came across a deal that merited further scrutiny. The admiral is still pushing for cutting the land lines and even though I was the one to plant the seed in her head and introduce her to the wonderful world of sailing I'm the one having second thoughts about it. Just the jitters I guess. We are finally at the point financially where we can pull the proverbial trigger and to be perfectly honest I'm stressing about making a good sound informed decision. Probably doesnt help my 40th is tomorrowWish me luck!

PS I do have a good tax guy, I would never try to understand that stuff!
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Old 29-07-2011, 13:17   #22
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Re: Yearly Cost of Ownership

i think it would be more like 40k per year for a non fixer upper and not counting the toys you add to the boat .. just normal operating costs.
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Old 29-07-2011, 13:34   #23
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Re: Yearly Cost of Ownership

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Well I'm not sure why sooooo many people are glass half empty kinda people. I was just looking for how your similar boat costs per year. Not a critique on my financial plan for yacht ownership. I've been reading on this forum for quite some time and it appears that an alarming number of people just want scare people off by making us wannabes afraid of what it will cost. I have owned several airplanes and if you think that if it say boat on it it is pricey try buying something that has FAA/PMA stamped on the side. I'm just trying to get as much info as possible befoer laying out the cash.

The idea is to put the boat in my S Corp charter it out a little write off the losses and depreciation lower my tax bill and have a nice boat to sail instead of spending upwards of 15k a year on charters. "if you have to finance it you can't afford it" Really? I guess anyone who has financed a car or a house couldn't afford it. Thanks again for the sincere replies

The boat will be either a 49 Bene two cabin or a new leopard 39 based in SoCal probably Marina Del Rey
Clipper, there is no intention to scare you off boating! I still believe that financing a boat is a very expensive way. Yes on the other hand you can save a lot of money by living on it, or at least spending a decent amount of holiday on it (no idea about your tax saving). On the other hand, I would not compare an airplane with a yacht for several reasons: First of all a boat is similar to a house to certain extends: It contains all the relevant systems, just in a very unfriendly, salty, environment. As you live on the boat (assuming now you did not live on your airplane ) you normally like a decent comfort and will upgrade a lot of stuff from time to time to keep that comfort. And as said from others, docking prices can vary widely – as with airplanes: I remember once we paid for two hour parking at one airport the same fee than we paid in the next port for one week. And yes – the first Airport was the place I would live on

Normally deprecation on a “production” boat can be quiet high or at least unpredictable in today’s economic. To be clear. I like the Benes very much, was in fact thinking about one as well. Therefore, if you really tend to lease a boat I would at least recommend you check the prices of the same make at the age when your credit ends. My fear would be that the crises leads to a loot of cheaper ex charter boats as there are not much private buyers. This could really hit your plans if the loan is going for too long.

Saying this - welcome to boating! Its fun....
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