Long term budget.

[Alan Wheeler]

This idea just struck me from my reply to a thread up in the newbie department. Budgets are always being asked about. And they are so varying depending on each personal tast. But I was wondering if Gord or someone with some knowledge on yacht repairs and expenses, could put a brief long term 10year budget together. I am not intending personall costs in this. Thats to each his own. What I mean is, at what point something has to be replaced. So lets start with a new yacht, say 35-38ft? would that be a good average yacht size??
Lets leave out breakages due to storms etc.
So the rig would expect to be replaced at the 10yr mark
Sails when?
What would the cost of such be?
Haul outs at say 12mths with anodes and scrub, with bottom paint at say 2yrs. Hull painted at say 5yrs?
I am not sure of the intervals, so please correct. So what I am trying to get shown here, is a ten year cost of owning a boat. then that could be broken down to a monthly budget to show just how much a boat realy costs to run per month. Tha amount can then be added to the personall budget.
Hmmm, now looking at it all, and I realise that lot is just scratching the surface, maybe thats too big an ask. Or at least, the figure that is shown, might be a really scary thing to see and maybe many of us would rather be ignorant

[GreyDawn]

Anybody want to buy a boat? 45ft ferro. Very nice.

[Alan Wheeler]

Nah come on guy's. At least go through some heavey weather before you make any rash decisions
Actually, providing your Hull was built properly, you have yourselves the cheapest form of material to keep in the water. And providing you can do some work yourself, upkeep on the top sides are not too bad either. In fact, working on your boat could be called "therapy". It can be very satisfiying and rewarding.

[GordMay]

I’ll have to ponder this one, as I’m not certain that my experiences would be universally transferable.
FWIW:
My annual DIY maintenance & replacement costs (averaged over 10 years) ran about 8% of the boats purchase price.

This was for an eight year old boat, in Bristol condition, over it’s next 10 years of live-aboard cruising (fairly hard usage). This level of expenditure (time & $) maintained or improved the boat's value against depreciation.

I spent about 3-4% of my boats’s value on routine maintenance, and about 5% of value on scheduled replacements and upgrades - and does not include any hired labour charges.

Extraordinary expenses, due to stupidity, accident, or other misfortune, would be additional. Yes, I had some of those too.

The boat held her market value, and sold for the same price we paid. I believe that the improvements I made should have actually increased her value, but I was under duress, and sold to the first viewer. OTH: Perhaps, like most owners, I overvalued the boat.
Gord