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CaptJamesCook · 11-07-2017, 17:14

Things no one talks about much.

Okay you have found the boat you agree on price. You paid for survey and know what or if any repair.

What added expenses are forth coming above the price of the boat to close the sale?? It would be understood if applicable slip fees/ mooring, winter storage.

Llets say the price of boat was $100,000.00 where does it go from there?

Sailmonkey · 11-07-2017, 17:21

Closing costs, taxes, etc...

LoudMusic · 11-07-2017, 17:29

The Wynns did, I think, a reasonable job documenting their boat buying experience.

The Long & Exhausting Journey of Buying A Cruising Sailboat

CaptJamesCook · 11-07-2017, 18:07

Sailmonkey thank you for the imput.

Loudmusic that was extremely informative to say the least.
Thank and I am sure anyone else who was wondering will be greatful also.

LoudMusic · 11-07-2017, 22:31

Quote:

Originally Posted by CaptJamesCook

Sailmonkey thank you for the imput.

Loudmusic that was extremely informative to say the least.
Thank and I am sure anyone else who was wondering will be greatful also.

They have more videos about other costs, like how much their initial refit cost, how much their time in the Bahamas cost, how much their various RV experiences cost, etc etc. It's on their website and on their YouTube channel.

They said the questions they get asked the most is "how much does it cost", so they decided to be completely open about all of the costs, but not their incomes, which I think is fair.

UNCIVILIZED · 11-07-2017, 23:24

I'll take a look, sounds interesting.

hamburking · 12-07-2017, 09:46

As soon as you buy a boat, keep your wallet handy!

Insurance. You'll need insurance from day 1, around here $2million liability. Mine cost around $400/year for a boat with a book value of zero.

Fuel. You're going to want to fill er up. Depending on your tank size, this could be a few hundred bucks. Its common to make "full fuel tanks" a condition of sale.

New gear. Every time I buy a boat, the local boat store is very happy to see me as I drop $1000 at their store. New flares/kit, new fire extinguisers, new compressed gas horn, first aid kit, etc. And sometimes I get new WW gear and sea boots for both me and my crew. Almost every boat I've bought I've replaced the stove with a new ORIGO (aka cookmate in canada) stove. Some bright flashlights, SS shackles, cotter pins, split pins, new jib sheets, and a new anchor line. A box of various stainless steel screws. A box of various stainless steel bolts. A handheld VHF. Some new life jackets. Believe me, its easy to spend a grand at the boat store when you have a new (to you) boat. The hard part is not spending MORE. I bought a boat once that came with NO FENDERS. Have you priced out fenders recently? Get ready for some sticker shock, cause you need SEVEN of them. And new dock lines too. Sellers often take the "good" dock lines with them, and leave you some scraps to hold the boat in place till the ink dries on the receipt. Tell your boat store you just bought a boat, sometimes they'll give you a discount (10% here) on your first purchase. They know you'll be back.

Tax. There have been changes to licensing and registration of vessels in canada. So I'm not sure WHEN or even IF you will get dinged with tax. But with the potential of 13% sales tax (Ontario Canada), this translates to $13,000 on your $100,000 boat. Substantial.

Dockage. I sailed home boats a few times, and as soon as I arrive at my home port in Kingston, they want full payment for the season before giving me a seasonal dock. For me, with a boat around 30 feet, that close to $3,000 as soon as I arrive. And I have to show proof of $2million liability insurance as well.

Repairs. Even a boat reported and surveyed as in perfect condition needs something. If a diesel mechanic comes to your boat, say goodbye to another $1000.

Electronics. IMHO, its rare to buy a boat that has up to date electronics, simply because the technology is changing so fast. You could easily drop another $1,000 setting up AIS, charplotter, wind, depth, etc. It might be just to get your existing electronics working reliably again. The hard part is not spending $5,000.

Dinghy and outboard. Unless your boat came with a decent setup, this is another place you can easily drop $5,000. But if you intend to anchor (and who doesn't?) you need a good dinghy, maybe a rib, with a reliable outboard, and maybe some davits on the stern. Did I say $5,000...I meant $10,000...I like a RIB with a few horses on the back.

The wife. Yes, as unecessary as it may seem, the wife will have a list all her own of things you cannot imagine. Unbreakable wineglasses and new curtains. Throw cushions that match the new curtrains. Special "boat towels" and "tea towels" and "bath sheets" and "boat sheets" and new pillows, bedding, pillow cases, and a comforter/duvet for those chilly nights. And she'll want to stock the boat with wine, wine, and more wine. Give her $1,000 and hope she gets tired before she needs another...maybe pour her a glass of wine!

zedpassway · 12-07-2017, 09:59

And then there is the cost for all the things you need to add to the boat to make it work out for you...unless it was new and it was custom made for you.

Where I live, no one has slips. Everyone has moorings, but you can only get a mooring if you belong to a yacht club. It all costs way more than you expect it to.

Hamburking has covered it well.

ReneJK · 12-07-2017, 10:02

I've been keeping a list with costs since purchase , might be helpful ?

running costs | SV Blue Pearl

many of he items you may not need / want and others you might want to add yourself suited to your purpose. Our purpose is to take her cruising for 4 years starting may 2018

Dave22q · 12-07-2017, 11:02

For $100k boat in the water-- survey and haul-out 1800, sales tax and registration 7500 or less depending on which state, 1500-2500 insurance, slip rental varies. The big numbers are fix up costs and "necessary" additions. Typically that can run 25-50% depending on the boat condition, your-do-it yourself skills and what you consider necessary (autopilot? radar? etc. ). Does it need a bottom job? New sails? Rigging replacements? engine servicing? new batteries? etc.
Bottom line- budget high and hope for the best. On a new-to-you boat most surprises are bad. Even the best surveyors don't catch everything. If your total budget is $150,000 sounds good. Much below that, think hard. Good luck in your adventure.

coastalexplorer · 12-07-2017, 12:20

I am now of the considered opinion that there is no cheap way to get into sailing vessel ownership.

Although retired; I have what I regard as extensive professional trade skills. So I bought a 31 foot vessel for $2,000. The hull is sound. I knew it had been built by a friend from Finland that I respected for his boat building skill. Sadly He is now deceased. However the fit-out had been handled by many amateurs. and it has been amazing to find the amount of things done incorrectly. It is surprising that when last floating 6 years ago that the vessel did not sink. The hours taken to rip out mistakes by others, The cost of parts, materials, shop time and sweat equity to make replacements and Re-installation continues to add up. I am reasonably sure that I am into it financially for more than I could reasonably sell it for, Just because it will never have that 'NEW BOAT' Label on it.

I reflect upon the company of Camper and Nicholson in England who ran a work shop they called their clinic, with the slogan "we bring your dead to life" But they were working on multi million dollar projects turning classic turn of the century J Boats back to better than new condition. Perhaps On small scale I am doing the same thing. But this is not a J Boat.

The build price in 1982 was $72,000 CDN. and before I get to splash it...Still hoping I can find enough interest, stamina, & live long enough to do that. I might be almost back to that original build cost. Almost new in many aspects. But perhaps I should have fixed up my old 4 meter day boat and spent that retirement time sailing?

If you have to ask the price you can not afford it!

geoleo · 14-07-2017, 18:50

One must think in "Nautcal Units" One Naut =$1000

ianmkent · 16-07-2017, 09:37

I think a lot depends on the country. I have now owned 3 small boat. My first boat was a leisure 17 I paid £100 for the mooring and paid a further £300 for a liftout/launch storage withbthe sailing club.

My second boat a Snapdragon 23 pontoon mooring in the Solent £110 per month, liftout/launch £300 insurance £100 a year other costs £500

I have just brought another boat a Trident 24 that I sailed from Faversham to the Solent mooring fees £118, seastart marine breakdown £150, she will need some work doing £500 a further £280 for a liftout and launch.

I do realise costs do increase with the size of the vessel but, where one moors makes a huge difference Portsolent would cost be 3 times what Im paying.

**JPA Cate** · 16-07-2017, 14:34

If not already mentioned above, there may be lodgings and eating out involved, if the boat you buy is far enough away from home. However, it is possible you can work it out to be hauled for survey somewhere one can stay aboard on the hard, or time it so it will be re-launched somewhere you are allowed to stay on board overnight.

Ann