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Old 22-02-2016, 08:38   #16
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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Originally Posted by Preluding View Post
I'm not talking about the boat so much as I am about keeping it.
How much does it cost to keep a boat?
To do things like dock it and stuff, by the way what do you even need to do to a boat throughout the year? I know you need to dock it but what else? and how much does it all cost?
I'm planning to sail twice a year through the Caribbean and have my own boat instead to charter.
What are the normal annual charges for a boat ownership?
I figure about 2k a month including insurance dockage fees and upkeep
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Old 22-02-2016, 09:00   #17
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Maintenance costs are largely a function of age--services at certain intervals, replacing things at certain intervals. Skimping on maintenance will always come back and bite you, and it can be flat out dangerous to you and your crew, for whom you, as skipper, are 100% responsible. Dockage, slipage, haul-outs, paint jobs, waxing, etc. are a function of boat size. As a broker once told me, everything on a boat costs by the foot (or meter). Yards and marinas will post their rates--by the foot (meter).
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Old 22-02-2016, 09:31   #18
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Quote:
Originally Posted by Preluding View Post
I'm not talking about the boat so much as I am about keeping it.
How much does it cost to keep a boat?
To do things like dock it and stuff, by the way what do you even need to do to a boat throughout the year? I know you need to dock it but what else? and how much does it all cost?
I'm planning to sail twice a year through the Caribbean and have my own boat instead to charter.
What are the normal annual charges for a boat ownership?
If you are only going to sail twice a year, owning your own boat is an exorbitantly expensive way to do that. Twice a year is the perfect profile for owning a charter boat. They do all the maintenance, provide the insurance and dockage, and have the boat clean, fueled, and ready to sail when you arrive. Typically they have 5 year contracts on new boats, so that means that for the next five years you can sail any boat in their fleet anywhere in the world. Or if you don't want the expense of the downpayment, just charter when you want to. No obligation, no commitment, and if anything about your health or family situation changes, you are completely free to change your plans.
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Old 22-02-2016, 10:20   #19
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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Originally Posted by sailorboy1 View Post
Attached is what it has cost me to use my boat not counting payments.

20 years ago when I purchased my I43 for $125K I started maintaining detailed expenditure records like you; however, I included all, financing charges, fuel, marinas, spares/upgrades, etc. When it reached a million dollars I decided it was too depressing and I didn't particularly want my wife to see the spreadsheet, so I stopped about 5yrs ago.
A boat costs what it costs, when I run out of money I'll either be dead or give up sailing. Worrying about costs negates the whole purpose of the carefree lifestyle of a live aboard cruiser.
I budgeted all my working life, thought it time to give that and paying taxes up. Leave all that to the younger generation.
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Old 22-02-2016, 10:22   #20
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

One of the easier ways to spend an exorbitant amount of money, is to be an absentee owner, of anything, but boats maybe more so than most.
If you can afford it, go for it, but if you have to ask, you can't afford it
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Old 22-02-2016, 10:29   #21
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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20 years ago when I purchased my I43 for $125K I started maintaining detailed expenditure records like you; however, I included all, financing charges, fuel, marinas, spares/upgrades, etc.
The one I posted is just my operating and use costs. I have another sheet that includes payments etc. and from that I know that I spend almost as much on my boat as I do my house including the utilities. So my answer for this problem in a few months is that I'm getting rid of the house!
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Old 22-02-2016, 10:38   #22
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

I have to respectfully question $50,000 a yr to upkeep a 43' boat, even if you include purchase of $125K, I Mil in 20 yrs is a little high I think?

50K a yr is a little more than most have for an entire cruising budget?
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Old 22-02-2016, 10:58   #23
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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Originally Posted by Lizzy Belle View Post
Welcome to CF!



How long is a piece of string?
Don't mean to be rude, but without knowing anything about the boat, there is no answer except: the bigger the boat, the higher the costs of everything.



For marina fee's, maintenance and everything that goes with boat ownership?!
Damn, I'm doing it wrong!
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Old 22-02-2016, 11:10   #24
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

We've keep ours boats here (BVI) for over twenty years. You need to be more specific. Cost are very reflective of two main items: 1) size and type of boat, 2) the length of your aboard time.
As with any sailing area you will need insurance, yard time and some dock-age. We spend a great deal og time on our boat and while we're here in the BVI are normally on a hook. However, for hurricane season you will need to decide whether to keep the boat in a yard or take it to another safe area.
Obviously a Catamaran costs more to store and dock and the larger the boat the more it will cost to maintain.
Additionally, people do find chatty buying a boat to place in charter works financially for themselves. But again that is a use versus non use item.
Another option that has worked for some peoples having a share in a boat for partial time use.
before you go down any of these routes try to figure out what your criteria are and what you're willing to pay to pursue those.
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Old 22-02-2016, 11:18   #25
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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Originally Posted by a64pilot View Post
I have to respectfully question $50,000 a yr to upkeep a 43' boat, even if you include purchase of $125K, I Mil in 20 yrs is a little high I think?

50K a yr is a little more than most have for an entire cruising budget?
I agree, it is high, but I still paid it and that was over a 15yr period. Have spent a lot in past 5 yrs, but stopped counting.
Upgraded all electronics, autopilot, radar, sonar, wind generator, solar, windlass, MackPac main sail & number of Genoas, A/C, Refrigeration, loudhailer, SSB, VHF, TV, CD/DVD Players, Intercom, Dinghy and Engine a few times, Rebuilt keel and rudder, awlgrip hull, deck and mast. Mattresses, salon and cockpit cushions, port and hatch shades, varnished all above and below deck teak/mahogany few times, New custom made Deck Storage Boxes, New Teak Cap-rail, new anchors/chain, new pulpit & stanchions, lifelines/gates.. New Heads & Holding Tanks. Numerous Bilge/Sump Pumps, Running Lines & Winches/Clutches. Traveler Cars/Blocks, Numerous Nav Lights & radar reflectors. Some items I've probably forgotten that was on my spreadsheet. And did most of the work myself as a certified marine engineer.

And it hasn't ended. This past December ran into a severe storm rounding Cape Canaveral heading to Cuba that damaged my Harken Furler beyond repair and shredded the Genoa. Also major damage to Wind Generator Mast & Solar Array. Have purchased a new Alado Furler from Brazil (lifetime guarantee) and trying to procure a good used Genoa. Have arranged for Wind Generator Mast to be re-welded. Damage to MacPac external track required track replacement. Also purchased a dinghy/engine for passage.
Latest estimate to put it all back to pre-storm is $13,000, less than my deductible.

If you permit me to say so, many sailors don't know their true costs? Ignorance is bliss.
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Old 22-02-2016, 11:34   #26
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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Originally Posted by adlib2 View Post
20 years ago when I purchased my I43 for $125K I started maintaining detailed expenditure records like you; however, I included all, financing charges, fuel, marinas, spares/upgrades, etc. When it reached a million dollars I decided it was too depressing and I didn't particularly want my wife to see the spreadsheet, so I stopped about 5yrs ago.
A boat costs what it costs, when I run out of money I'll either be dead or give up sailing. Worrying about costs negates the whole purpose of the carefree lifestyle of a live aboard cruiser.
I budgeted all my working life, thought it time to give that and paying taxes up. Leave all that to the younger generation.
Best answer yet!

I have a friend who keeps a 44 ft boat in St Lucia and cruises it from January to April. I'm guessing his expenses are about $20-25k a year, but I'm sure he hides the receipts from his wife.
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Old 22-02-2016, 11:41   #27
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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If you permit me to say so, many sailors don't know their true costs? Ignorance is bliss.
That's the truth! And many many many cruisers yearly budgets are full of "if's" and "doesn't includes".
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Old 22-02-2016, 11:49   #28
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Would any of that be affected by an Argentine national, needing to flag or import a vessel to the BVI, and how he's allowed to do that in the first place?
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Old 22-02-2016, 12:26   #29
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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Would any of that be affected by an Argentine national, needing to flag or import a vessel to the BVI, and how he's allowed to do that in the first place?

Don't know why the Argentine should be any different than other national flagged vessels. When I was in the BVI for an extended period in a Canadian flagged vessel I found it more economical and convenient to import my boat for about $300 than pay about $50/mo with required visits to customs office.
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Old 22-02-2016, 13:41   #30
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Simply because different nations give various other nations different considerations as "guests" or having come from a common ground, i.e. visa and entry terms differ.


An Argentine or French vessel would have to clear US Customs before proceeding up our Mississippi River. A British vessel can proceed unimpeded--courtesy of the treaty that ended our War of 1812.


Although the local watercops, or even the USCG, might not be aware of it.
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