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Old 21-02-2016, 21:22   #1
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How much does a boat cost to keep it at the Caribbean beginning at BVI

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?
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Old 21-02-2016, 21:29   #2
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

+/- 10% of the value of the boat.
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Old 21-02-2016, 21:30   #3
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Welcome to CF!

Quote:
Originally Posted by Preluding View Post
How much does it cost to keep a boat?
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.

Quote:
Originally Posted by minaret View Post
+/- 10% of the value of the boat.
For marina fee's, maintenance and everything that goes with boat ownership?!
Damn, I'm doing it wrong!
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Old 21-02-2016, 21:53   #4
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Thank for the answers.
I'm thinking in a monohull length 45 feet to stay at the BVI at first.
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Old 21-02-2016, 22:03   #5
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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
Thank for the answers.
I'm thinking in a monohull length 45 feet to stay at the BVI at first.
Then you can look up marina's and their fees online

For maintenance etc. it very much depends on how well maintained the boat you're buying is. The 10% mentioned earlier is a ball park figure - for that to work out, the boat has to be in very good shape. If not, it'll be double that easily. If you need to refit, buy new sails etc. it gets worse.

Have you ever owned a boat before, or know much about boats?
What hull material are you considering?
Will you be doing most of the work yourself, or will you need to hire people?

What is your budget for buying the boat, and what have you set aside for yearly costs?
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Old 21-02-2016, 22:34   #6
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Possible Expenses (many are discretionary - you can choose) and they do vary from location to location

Diver to clean bottom (can you spend 3-hours a month doing it?)

Insurance (probably necessary if the boat is financed and probably very expensive if you are there during hurricane season) At a minimum I would want liability for environmental damage and injury to guests

Propane (we live aboard and use 2.5 gallons a month)

Property Tax (where is it registered?)

Other local taxes
(we spent about $300 in Mexico to maintain our visa status that did not require us to leave every 6-months

Engine maintenance (at least an oil/filter change every 6-months $25 for parts)

Slip fees (we pay an additional $250/month live aboard)

Bottom paint (at least every three years and about $1250 here in San Diego for haulout, paint, labor)

General Maintenance (we spent about $3,000 per year while living in the tropics on a fairly complex 40' cutter) and most folks assume at least 5% to 10% for an older liveaboard

During the last 15-years of living aboard in Mexico, California, and Washington we've averaged about $3,500 per year maintenance costs BUT I do every single maintenance project myself and never hire help ($60/hour minimum here in San Diego)

It is hard for a new boat owner to imagine the costs associated with boat ownership, especially a liveaboard. There have been many threads about this issue. Several years ago I posted a very detailed breakdown of all our boat maintenance expenses for the last five or six years.
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Old 21-02-2016, 22:38   #7
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Quote:
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!


To be clear, 10% per year is the standard figure. Obviously depends on boat and locale, just a rule of thumb.
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Old 21-02-2016, 23:03   #8
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Well....you are thinking of maybe buying a boat about 45' and you are really asking this question--and asking it here? I don't wish to sound harsh or discourage you, but you may not be ready to get into this type of thing without doing some more serious research--and asking for a hundred varied opinions online is not the best research. However, in the interests of providing you with a little bit of hopefully helpful advice, I would say that first of all, it depends....and depends on a LOT of factors and variables (back to the how long is a piece of string...). Whatever you think it might cost, double or triple it and be prepared to spend that if necessary. And finally, if you are looking at a 45' boat, I would refer you to the old tongue-in-cheek reply: If you have to ask, you can't afford it. If your mainsail is shot, it may cost $4000 or more--but what kind what you want? If your batteries are shot, you could spend maybe $500 or maybe $2000 depending on your desire. If the prop and shaft and bearing are done, it may cost you a couple thousand. If you have to haul and paint the bottom, and there are no major repairs, it might cost three gallons of paint at $150 gallon or perhaps $300 per gallon plus haulout, powerwash, block and relaunch for--well it depends where it is done and how much prep is needed. Does the mast need to be pulled? So there are potentially MAJOR repair and maintenance costs or capital costs and there are the normal maintenance costs--but does this boat have a lot of teak and brightworK? Generator? Air conditioner? How is the wiring? Two heads? Do you want a stainless steel anchor and chain? It will cost many thousands. What if it needs new standing rigging? Ohh..maybe five grand or more...Polishing the diesel? At least $500. Running rigging-a couple thousand..... So, the answer is still.....it depends....can you do this work? What condition is the boat in now? And finally, as previously mentioned...if you have to ask, you probably can't afford it. Many can buy a boat but not all of them can afford it--which is one reason why so many used boats are being sold so cheap--which is why they seem so attractive, but...caveat emptor!
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Old 21-02-2016, 23:11   #9
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Quote:
Originally Posted by minaret View Post
To be clear, 10% per year is the standard figure. Obviously depends on boat and locale, just a rule of thumb.
The OP asked "To do things like dock it and stuff" and "What does it all cost" -- not just maintaining the boat, but everything.

I don't know anyone who's total costs of boat ownership add up to only 10% of the value of the boat ... Maintenance yes, if said boat and everything on it is in good shape, but the rest (marina, insurance etc. etc.)? Nope. Not by a long shot ... sadly
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Old 21-02-2016, 23:38   #10
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Quote:
Originally Posted by Lizzy Belle View Post
The OP asked "To do things like dock it and stuff" and "What does it all cost" -- not just maintaining the boat, but everything.

I don't know anyone who's total costs of boat ownership add up to only 10% of the value of the boat ... Maintenance yes, if said boat and everything on it is in good shape, but the rest (marina, insurance etc. etc.)? Nope. Not by a long shot ... sadly

Perhaps it's a difference in boat size thing. If you have a 10k boat, no you are not going to berth it and maintain it for 1k a year. However, a more typical 150k cruising boat might very well expect to spend 15k a year to maintain the boat, at least. My own 500k boat does not need 50k a year to maintain. Sort of a sliding scale is called for.
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Old 22-02-2016, 01:34   #11
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

i spent 35k & on 500k boat when boat aged from 2 to 3. 3 biggest items: 2 year engine service, next haulout credit (every 18 mths it looks like) and new carbon gennaker. Tried to do all myself, except gennaker.

Quite happy with results of my work. Gained some confidence. Saves money and prepare me for long periods aboard out there when one needs to be self reliant.
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Old 22-02-2016, 06:45   #12
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Thank you for your comments everybody!! For me they are so helpeful.
My experience sailing was mainly from the Rio de la Plata and the South Atlantic. Sorry for my English!!
As a child I grew up learning sailing with optimist, then as an adult I had several sailboats at the south atlantic. Some very old and then almost new. ( Not to big 34 feet)
And years ago while I had my own boat at the Rio de la Plata and an ownership of a Hunter 40.5 at BVI I was sailing two weeks at the Caribbean and the whole year at the South Atlantic.
Unfortunately at a race to Punta del Este with a heavy storm I felt off the boat because a knock of the boom when I tried to shorten the major sail. Luckily I reached the boat swimming , water so cold in winter!!!. Because of that shock I sold the boats, 15 years ago, and promised not sailing anymore.
Now that I'm partially retired but my love for sailing continues. So I thought like as a project to sail in calm waters more warm three or four months a year.
I think that also I have to hire a skipper for practice!! Im not so young now.
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Old 22-02-2016, 06:53   #13
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

Quote:
Originally Posted by TacomaSailor View Post
Possible Expenses (many are discretionary - you can choose) and they do vary from location to location

Diver to clean bottom (can you spend 3-hours a month doing it?)

Insurance (probably necessary if the boat is financed and probably very expensive if you are there during hurricane season) At a minimum I would want liability for environmental damage and injury to guests

Propane (we live aboard and use 2.5 gallons a month)

Property Tax (where is it registered?)

Other local taxes
(we spent about $300 in Mexico to maintain our visa status that did not require us to leave every 6-months

Engine maintenance (at least an oil/filter change every 6-months $25 for parts)

Slip fees (we pay an additional $250/month live aboard)

Bottom paint (at least every three years and about $1250 here in San Diego for haulout, paint, labor)

General Maintenance (we spent about $3,000 per year while living in the tropics on a fairly complex 40' cutter) and most folks assume at least 5% to 10% for an older liveaboard

During the last 15-years of living aboard in Mexico, California, and Washington we've averaged about $3,500 per year maintenance costs BUT I do every single maintenance project myself and never hire help ($60/hour minimum here in San Diego)

It is hard for a new boat owner to imagine the costs associated with boat ownership, especially a liveaboard. There have been many threads about this issue. Several years ago I posted a very detailed breakdown of all our boat maintenance expenses for the last five or six years.
Our costs on our 1984 Liberty 458 in San Francisco bay are similar.

We also do all maintenance ourselves.

Sent from my SM-N900T using Cruisers Sailing Forum mobile app
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Old 22-02-2016, 06:58   #14
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pirate Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

As much as you'd care to afford..
And then budget for extra's..
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Old 22-02-2016, 07:25   #15
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Re: How much does a boat cost to keep it at the Caribbean beginning at BVI

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What are the normal annual charges for a boat ownership?[/SIZE][/FONT][/FONT]
Attached is what it has cost me to use my boat not counting payments.
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File Type: xls Rubber Ducky expensives.xls (64.0 KB, 424 views)
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