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Old 18-02-2019, 08:23   #61
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Re: Worried About Affording Maintenance Costs

I have a 2013 45' monohull that was fully surveyed. Surveyor missed the unplugged sensor on the saildrive. turns our the saildrive boot was leaking and it cost 5,000 to fix, not including the costs of hauling and bottom paint and other work while boat was on the hard. think in terms of $10,000 chunks. It's a BOAT (break out another thousand). Cat have double the engine issues.


good luck.
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Old 18-02-2019, 08:33   #62
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Re: Worried About Affording Maintenance Costs

The 10% rule is completely crazy, with no basis in reality. A price per foot rule would have a bit more relevance! How can my 35 year old 34' sailboat, with a market value of say $25K, cost LESS to maintain than a 10 year old 34' sailboat, with a market value of say, $70K? How can a 5 year old bargain 40' ex charter for $100K cost less to maintain than the same boat, same age, never charted owner's version for $150K? Add to that the price of slips -- here in Annapolis I'm renting a very nice private slip for $3K per year, but I can go 3 miles closer to Annapolis and pay double that. And sails -- many people get 20 years of satisfactory service out of basic cross cut dacron, many others consider a 5 year old cruising laminate to be near the end of life. I'm looking at two identical boats from 1998 or so, one still has the original electronics that the owner is happy with, one has 5 year old electronics that the owner thought were a worthy upgrade. DIY makes a HUGE difference -- I winterize for under $100 (counting engine winter service), I suspect a pro would charge north of $1,000.



The 10% rule of thumb isn't even useful as a rule of thumb. It's hogwash. A per foot rule has a bit more relevance (I'd suggest $100/foot, but perhaps $200/foot would be better for those who don't DIY everything). And then maybe put in an age factor -- 0-10 years is a 1.0, 10-20 years is a 1.5, 20-30 years is a 2.0 multiplier. So a 30 year old boat that is 100% professionally maintained would be $200-400/foot. But even a per-foot is seriously flawed, as winterization is the same for a 30 footer and a 50 footer, and a chart plotter or depth sounder or radar reflector or lifesling or many other purchases are the same regardless of length (but many other purchases go up fast, like sails or rigging or lines or fenders or bottom paint)



My typical annual budget for a 35 year old 34 foot boat in Annapolis with a 100% DIY maintenance is around $5K, or 20% of the cost. A 15 year newer version of the same boat would have about the same costs, but be worth double -- or 10% annual cost. My costs include slippage and insurance, which are 75% of the costs -- true "maintenance/upgrades" are closer to $1K per year, or 4% of cost.


Harry
Rantum Scoot
'79 Sabre 34
Mill Creek, Annapolis
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Old 18-02-2019, 08:38   #63
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Re: Worried About Affording Maintenance Costs

I have owned boats for the last 30 years. I have always found that long term, proper PREVENTATIVE maintenance and operating costs based on 200 engine hours per year, required 10% of the NEW retail price. IF you wish to wait till something breaks, you will get by on the cheap for a few years, but the salt environment will take its toll and some years maintenance will be well above the 10%.. This number doesnít include you doing as much of the small preventative items yourself (caulking, wax, bottom cleaning). It does include engine raw water system maintenance, steering systems, haul out & bottom paint, sanitation systems, water heaters.....you get the idea.

I may be different from coastal cruisers who can use Seatow to get them back to port. Iím in the remote areas of the Caribbean, so I do preventative maintenance on a pre-determined schedule which uncles both engine and calendar time. Then the never ending TO-DO list are things I can handle myself.
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Old 18-02-2019, 08:43   #64
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Re: Worried About Affording Maintenance Costs

To me the 10% rule has applied quite well over the last 30 years when you base it on the NEW Retail price, not on the used price you paid for the vessel
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Old 18-02-2019, 09:10   #65
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Re: Worried About Affording Maintenance Costs

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Originally Posted by CaptainTopShelf View Post
To me the 10% rule has applied quite well over the last 30 years when you base it on the NEW Retail price, not on the used price you paid for the vessel

Even when applied that way, which is slightly more relevant, it doesn't work. A Sabre was a pretty fine yacht, I would assume a 2019 Sabre 34 if it existed would be over $100K, which would make for an annual budget of $10K. In the 10 years I've had the boat, with a lot of work and improvements, I can't imagine a year that cost $10K total. Even when buying a new main!


The other problem is that similar boats, with similar maintenance, have wildly different price tags. Does an Outbound 46 (what, $600K?) cost more to maintain than a Beneteau 46 (say, $300K)? Frankly, I would hope the Outbound would cost less!
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Old 18-02-2019, 09:20   #66
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Re: Worried About Affording Maintenance Costs

We are weekend sailors of a 33' monohull, do all our own maintenance and upgrades and spend $6,000 to $7,000/year for everything except fuel and trip expenses. $4,000 of the $7,000 is for winter storage, summer mooring/launch service, and insurance.

I would not jump into a $175k boat without having spent a few years learning to sail and how to work on boats. I recommend picking up something SIMPLE, in the 30' to 35' monohull range, $30k-ish max, and playing with that for a few years before going full-in.

Here's 95 boats, in the mid-atlantic area, between $10k & $35k, between 30 & 35 foot, fiberglass with a single diesel.

https://www.yachtworld.com/core/list...ed=-1&fracts=1
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Old 18-02-2019, 09:56   #67
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Re: Worried About Affording Maintenance Costs

Just bought a new to us 2006 Leopard 40. Calvert Marina in Solomons, where we live, has slips for 20 ft. beams MUCH less than other marinas. If you get a Gemini, they fit in regular slips. Shop around for slip fees.
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Old 18-02-2019, 10:07   #68
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Re: Worried About Affording Maintenance Costs

BOAT: Bring Out Another Thousand
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Old 18-02-2019, 10:10   #69
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Re: Worried About Affording Maintenance Costs

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Originally Posted by MikeInMaine View Post
I would not jump into a $175k boat without having spent a few years learning to sail and how to work on boats. I recommend picking up something SIMPLE, in the 30' to 35' monohull range, $30k-ish max, and playing with that for a few years before going full-in.
BINGO! I noted the comment on learning to sail as well. I would NOT get into an ALL IN situation until I first learned to sail. I especially would not finance the boat. If you cant afford it, dont buy it. Houses appreciate with age, boats, especially expensive ones depreciate faster than you can pay for them.


You might HATE sailing. Its a different animal when you are doing all the work, spending all the money and worrying about what you forgot, than it is on a weekend sail on a friends boat and all you did was bring the tuna fish sandwiches.
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Old 18-02-2019, 10:32   #70
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Re: Worried About Affording Maintenance Costs

What I read up front is that you don't yet know how to sail. If that is correct, I might suggest that you first pick a way to learn to sail in a monohull, create a confort zone that you have learned how to maneuver a boat under sail, then migrate to a catamaran. They handle quite differently than monohulls, so sail in a variety of conditions. If you like that, then move into ownership. I've seen it often where the folks to want to learn to sail, acquire a vessel to soon, and throw down the tiller in frustration. Good luck!
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Old 18-02-2019, 11:00   #71
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Re: Worried About Affording Maintenance Costs

Rule of thumb is plan on 10% of the cost of your purchase price,as I have been told.
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Old 18-02-2019, 13:23   #72
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Re: Worried About Affording Maintenance Costs

Hey folks itís a general rule of thumb not hard and fast as always ymmv on a specific boat or usage
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Old 18-02-2019, 16:50   #73
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Worried About Affording Maintenance Costs

Seeing as how it cost 10% of the purchase price per year to maintain a boat.
Be sure to buy a cheap, old worn out one, that way it wonít cost nearly as much to maintain as a newer well maintained more expensive one.

Sorry guys the logic just isnít there.
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Old 18-02-2019, 20:52   #74
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Re: Worried About Affording Maintenance Costs

10% of the boats value is not a bad benchmark. Some years may be more some less.
Try and do as much as possible yourself but donít be afraid to bring in some skilled labour for things above your pay grade.
I always like to TA with those guys and learn a little more and observe how good operators go about things.
Not all cats have twin engines,Proust,Geminiís to name a few.
My boat here in OZ has a single diesel with a retractable sonic leg,works fine and puts the weight right where you want it, the centre of the boat.

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Old 18-02-2019, 21:14   #75
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Re: Worried About Affording Maintenance Costs

When I buy a "new" used boat, I budget 25% for the first year; repairs, items missed in survey, or found upon ownership. Upgrades for electronics will often enter in.

You apparently have no boating experience. Even a surveyor will miss many items especially in a used cat. There are structural issues, rigging issues. and mechanical/system issues. Does the boat have all that you need? Heating was mentioned--air conditioning?
You don't know what good sails look like--and good sails make the boat go faster. Bottom cleaning, annual haul outs, engine/shaft repairs / sail drive repairs. etc.

I've sailed all of my life--and when I bought my first 29 foot monohull at age 25, I was planning to live on it--instead of apartment rent. I kept that boat 10 years,--by that time I had a family and the need for a house. Thru out lives, saving, buying and selling real estate have allowed us to cruise full time for over 8 years, visit Both coasts US, Central America, the Caribbean, the Med, Baltic and S. Pacific/ Aust. NZ. The house paid for the boat--not the other way around. We were conservative, lived below our means--but retired at 56, with the resources to do what ever we wanted. I might add, that as well as sailing--I had been working on boats all of my life--so I did almost 100% of my maintenance. If you are serious about cruising--you better be prepared to fix it, or live without it.

My personal opinion is that you are reaching a bit high for a first boat. You are running a huge risk.
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