Worried About Affording Maintenance Costs

[jen1722terry]

We live aboard a 31 ft. monohull in Maine all summer. We keep costs down by doing all the spring and fall stuff ourselves. We also installed several upgrades ourselves and 2-part poly'd the decks (saving at least $15K) ourselves. We stay at a public-owned marina, but on a mooring rather than in a slip. Also, the short Maine sailing season probably lowers our insurance.

Over the last six years we probably spent $6-8K each year, except for the year orfthe new engine, which was over $25K

[brettrae]

Wow. So many great replies, thank you to everyone for your input. I'm always amazed at the kindness of strangers to take the time to help someone new to sailing. I think the thing that I have learned here is that I need to save up some more for a kitty before I invest in a boat, and then get a smaller, older boat than I was originally intending. I'm thinking I would feel comfortable with a 20k kitty, while leaving enough to put 50k down on a 100k boat in a few years. That would hold us, and we could still add at least some to the kitty every month. While I'm eager to go sailing, I don't want to jump into something I'm not ready for. In the meantime, my wife and I can do a charter to get the feel for it, and then go ahead and complete some ASA courses.

I think part of the reason I was in a rush, was because my wife and I have actually put an offer on a new house that they are currently building. We haven't closed, but would be out a deposit if we backed out. I think we just realized, through this sailing dream, that we might not be ready to commit to a normal, sedentary life just yet.

[john61ct]

Get a 20-25' trailer and practice living in that.

Could even go full-time maybe at some point, use the rent savings to greatly accelerate the timeline getting the boat.

Then becomes a storage / workshop space on land while you're living on the boat.

Meantime go park in the lot of the best sailing school you can find, or in an area with lots of sailing to get on OPB while you're learning.

Get used to the nomad lifestyle! or discover it isn't actually for you 8-D

[NYSail]

I purchased a 2005 43 foot mono hull that was marginally taken care of. I do all of my own work and I have to say “maintenance” of $17500 per year seems quite high. I haven’t come even close to that number and I do obsess over things. I also assume when you say maintenance you mean fixing things and not upgrading or adding “wanted items” or dockage and insurance.
Buy a sound boat, learn to work on her and you will be happy.
Also remember, I have friends that don’t have boats and they go on at least two 1 week vacations per year..... not including kids this easily could be equal to $20,000. Last year wife and I spent over 100 nights on the boat (joys of heat). Add day sails, night sails and I think I am getting a bargain. Every dime I spend on my boat is well worth it and not a loss....... in my mind.
But do remember your dockage costs, storage costs go up significantly with a cat verses a mono hull.

Good luck!
Greg

[roland stockham]

To give an idea I had a failure that led to needing a new engine. The quote from the USA was 12 - 15k for the engine plus 1500 delivery and at least 5k for fitting. As a DIY job fitting a Chinese engine total cost I did it for about 4k total. The Chinese engine is better quality than the US one (which in fact is mostly built in China, assembled in Japan then badged in the USA) but probably reduces any reasale value!

[Stu Jackson]

Originally Posted by brettrae

Wow. So many great replies, thank you to everyone for your input. I'm always amazed at the kindness of strangers to take the time to help someone new to sailing. >>>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>>>>>>>

I think part of the reason I was in a rush, was because my wife and I have actually put an offer on a new house that they are currently building. We haven't closed, but would be out a deposit if we backed out. I think we just realized, through this sailing dream, that we might not be ready to commit to a normal, sedentary life just yet.

Also remember, in this equation, that a boat WILL depreciate, while a house, especially a new one if in a good neighborhood, most likely CAN appreciate.


That may make your choices more clear.


I think we all love sailing and appreciate being able to help. It's part of the lifestyle. I think fondly of all the times I've been on my boat working on a problem or any given task, and friends have always provided advice, and many, many times chipped in and helped. Think of the Tom Sawyer whitewashing the fence story: Sometimes they fix it before I even get to touch it!!!

[wkearney99]

Stop and find out what slips would cost for a catamaran. There's not a lot of marinas with slips large enough for a cat. For the size of a single slip for a catamaran they could lease out 3 for smaller monohulls. You may find there's nothing available anywhere you 'want' to be.

That and your options on transient slips are likewise going to be challenged. Then you're into anchoring out, using a dinghy to/from shore and not having shore AC power.

As nice as cats are for vacations in the islands they've never really struck me as an ideal choice for the Chesapeake. And definitely not as a 'starter' boat.

[sailjumanji]

I've never paid more to slip my cat than the standard monohull per foot rate. From Texas to the Bahamas. But most times on a wall, end tie or t-head.

[wkearney99]

Originally Posted by sailjumanji

I've never paid more to slip my cat than the standard monohull per foot rate. From Texas to the Bahamas. But most times on a wall, end tie or t-head.

That all well and good, but that's not the Chesapeake. My advice to them still applies, price out what a slip is going to cost them FIRST. No point in getting all excited about a particular type of boat if there's no viable place to keep near where they are now.

[Tillsbury]

Originally Posted by wkearney99

That all well and good, but that's not the Chesapeake. My advice to them still applies, price out what a slip is going to cost them FIRST. No point in getting all excited about a particular type of boat if there's no viable place to keep near where they are now.

Good advice anywhere in the world. I didn’t start seriously looking at boats to buy until I had my slip booked and done.

[Amihan59]

Originally Posted by Suijin

And have you researched slip costs on the Chesapeake for catamarans? You could well be looking at upwards of $1,000 a month if you’re anywhere near the central bay on the western shore. That’s half a mortgage payment on a $175k house.

My husband and I purchased a 2005 Broadblue 42 last Oct after selling our home in Wichita, KS; we are currently docked and living aboard (yes, winter!) at Hartge Marina in Galesville just south of Annapolis.

In addition to the $6000/yr slip fee, we pay $200/mo liveaboard fee. We considered Shipwright's Harbor and Herrington Harbor North before deciding on Hartge. We like being at Hartge; it's a 20-min drive to Annapolis; it's a full service marina, except that they can't haul us out (our beam is 22ft), so if we need to, we have to go to Port Annapolis marina. There are bubblers at the docks.

We worked with a broker in Annapolis who referred us to a lender, surveyor (the boat was in NC then, so he found us one there), and an insurance broker. Our broker even drove to NC for the survey. Two months after closing he still contacts us to make sure we are getting the right contacts. Yes, get a broker who is a sailor.

After we did the survey/insurance-mandated repairs and installations, we decided to do upgrades, including new rigging (instead of postponing this, we decided to do it now, since additional repairs were needed anyway); then we hired an electrician to add another circuit as the one circuit we had kept on tripping (caused by overload from the space heaters). My husband did some of the prep-work (i.e., pulling wires), to save money.

You're welcome to visit us at the marina, check out and discuss with my husband all the other upgrades, repairs, etc that we did, as well as the associated costs. He has been inspecting each and every removable part in the boat, checking for corrosion and cleaning them, and see what needs replacement. We did our own winterizing; so far so good.

[madyachty]

Just bought my first yacht, have sailed for 20 years on and off.
I bought a 45ft monohull.
I am still worried about affording maintenance costs.
But here is a lesson for you, mono cheaper than multi.
Determination.
Application.
Graft.
Intelligence at outset and thereafter reIY
Realising that yachting contains a broad cross section (as all of society).
From credit card, chardonnay set, to scruffy dope smokin just keepin her afloat and everything in between.
Be real live the dream but don'T dream that it's easy!

[john61ct]

Graft as in corruption?

[madyachty]

Graft, sorry no, wasnt suggesting anyone be corrupt, there is an alternate meaning to graft, akin to frugal, careful, thrifty,streetsmart and not frivolous.

[john61ct]

Yes kidding, US vs British.

I thought used that way meant simply striving, working hard.

Interesting that being clever is also implied.