What is accurate regarding cost?

[Cadence]

Originally Posted by mglonnro

It's an annoying equation, this! 50 + 30 = 40

Big price drops combined with fluctuating and a bit exotic second hand markets make boat ownership more expensive.

I wonder what would be good ways to improve this

I love the math.. I have never seen it expressed quite like that.

[Dooglas]

Originally Posted by mglonnro

Big price drops combined with fluctuating and a bit exotic second hand markets make boat ownership more expensive.

I wonder what would be good ways to improve this.

Perhaps consider gardening instead of boating as a hobby?

[john61ct]

Originally Posted by mglonnro

I wonder what would be good ways to improve this

Realize that 99% of the time, money spent on a boat is consumption, not an investment speaking strictly financially.

Investment in joy per month perhaps, and ideally amortized over a long period.

If you get **anything** back selling at the end, consider that gravy, a "would be nice" rather than an expectation to be factored into your decision, making.

[nelly]

I just purchased my boat for probably $12k or so more than I could have bought the same boat for, but didn't buy the less-costly boat because it needed new sails and rigging.

Now I am deciding that I will probably want new sails and rigging anyway

Look at a lot of boats. Buy a smaller boat if you're new to sailing. Like a 25'. Won't probably be your boat for long if you love sailing, but you will use it for at least a few years while you learn and have fun.

Then buy something that fits your needs more later.

[Hardhead]

I'd submit the idea of spending no more than half your boat budget on the initial cost of the boat. Once you start sailing/living on it, you will find many changes you would like to make, and the rest of the money will be well spent on whatever you believe is practical and best used at that time. At the end of it, you have a used, but semi-custom boat, outfitted to your preferred specs - as opposed to just someone else's ideas of what is best.

[mglonnro]

Originally Posted by john61ct

Realize that 99% of the time, money spent on a boat is consumption, not an investment speaking strictly financially.

Investment in joy per month perhaps, and ideally amortized over a long period.

If you get **anything** back selling at the end, consider that gravy, a "would be nice" rather than an expectation to be factored into your decision, making.

Yes, sure, this is a good adaptation strategy. Still, at the same time, there might exist the possibility of some structural changes that could improve the overall equation?

Don't know

[mglonnro]

Originally Posted by Dooglas

Perhaps consider gardening instead of boating as a hobby?

Good idea! But I am mystically drawn to the sea. Not at all to plants and flowers

[john61ct]

Originally Posted by mglonnro

Yes, sure, this is a good adaptation strategy. Still, at the same time, there might exist the possibility of some structural changes that could improve the overall equation?

All risky-expensive or very time consuming, nothing certain just maybe increasing the odds.

For those who put high value on their time, best to just aim at either keeping overall cost per month owned down, or maximizing enjoyment, depending on wealth.

[thomm225]

If you are a complete greenhorn, it probably wouldn't be advisable for you to spend $80k on your first boat because you may not even like sailing and your boat would join the majority of nice boats that sit at marinas rarely being used

It might be better to buy a smaller less expensive boat and sail it for a few years. It could even be a blue water boat but on the smaller side say from 26'-34'

In this way, you can also see the percentages you are wondering about. Usually the older the boat the more you spend on repairs and replacements

I paid $2,000 for my boat and have spent maybe another $7,000 - $8,000 on it over the last 7 years, but I've learned tons even though I've owned around 12 other smaller boats

Also, try and find a boat not only in good shape but loaded with equipment like anchors, electronics, sails etc

[pma_foyl]

"Buying" the boat is the CHEAPEST part of the equation (forever). Use your funds accordingly.

[Fbfisher]

Experience sailing boats informs what makes a good purchase decision. I’d recommend chartering locally and frequently, and or find a club that lets members use the boats. This will give you the experience on the water, on a variety of boats. Do some weekend and week long cruises. This will give you valuable live aboard experience. It will also give you the opportunity to fix what breaks, because on charter/club boats, something often breaks. After a few years you’ll have sailed a variety of boats, in a variety of conditions and you’ll have real world experience living on a sail boat, sometimes for a day, sometimes for a week. This experience will give you lots of knowledge that will inform what/if to purchase.

Given the extent to which most people use their boats, chartering/club membership is financially the way to go. There is no financial rationale for owning a boat. The decision to own a boat is emotional and the value proposition is based on intangibles. All that said, after many years of being a member of a local sailing club that has a fleet of boats from 22’ to 42’ for charter by members, we bought a Beneteau 423 that was barely used and two years old at the time. That was 11 years ago and she’s still an awesome boat and suits our needs for CA coastal cruising perfectly.

As far as repair costs go, that’s really hard to predict.

Cheers,

F.

[john61ct]

Devil's advocate here: at the low end of the market, you can buy a boat for the cost of just a couple of charters.

As long as its "bones" are sound and

its ready to sail in the minimal sense, and

you're willing to fix things up as you go, work toward your desired "finish level" over the first few years,

you can actually get out there sailing as much as possible during that time.

Say your total capital budget is $40-50K over four years, and purchase price is $10-20.

How much of that would have been "invested" in chartering, or risky partnerships for the first year or two, and which would give you more days sailing?

Of course, it may turn out to have been worth it, if it "saved you" from choosing the wrong boat I suppose, but even then, I think the experience physical restoring the first one would be very valuable.

And if you are happy with the boat once it's restored, everything is just the way **you** want it, you're in good shape to set off on the bigger adventures, intimately familiar with her nitty gritty details.

Note my goal being full-time liveaboard and crossing oceans, may be very different from what the scenario you're talking about.

Eliminating any other housing costs has a huge impact on the financial side making sense.

[Fbfisher]

You can buy a boat for the cost of a couple of charters? I highly doubt it would be a boat worth buying that would be ready to cruise. Check out the charter prices at www.marinasailing.com

This self described “greenhorn” apparently has little experience with boats. Better to get some real life experience first at $200-$300 (or as much as $500 for a 42’ in season) a day before making a significant capital investment. And the cost goes down when the costs are split among friends/club members. Not so in your own boat.

Owning a boat is great for all kinds of emotionally gratifying reasons. Financially, it makes little practical sense for most boat owners (live aboards and full time cruisers excluded).

Cheers,

F.

[rbrake]

There is a post further back recommending getting a sailing dinghy first. That is the most sensible post here. Go buy a used dinghy for a thousand bucks in the beginning of winter. Go over it, give it some love and attention until spring then go sail it through the summer. Next winter sell it at a 100$ loss and then think about moving up. Something as simple as a poorly done gybe can wipe out your 20% cushion faster than you can blink.

[john61ct]

Originally Posted by Fbfisher

live aboards and full time cruisers excluded

Yes, my own use case intruding there, including a lower initial purchase budget than most.

And my charters have been at least 2 weeks at a time, mostly in the Caribbean.

Total noob not too much of a hurry, I agree starting small and cheap is smartest.