# Boat Maintenance Costs



## Don L (Aug 8, 2008)

Does the cruising boat ever become less of a money hog? So far full time on the boat for "boat maintenance, repairs, upgrades" it has cost:

year 1 - $8,291
year 2 - $5,187
year 3 - $14,262
year 4 - $19,856 
year 5 - $3,315
year 6 - $8,364 (and that is only for 8 months)

That's $59,277 and all but about $4000 I did all the work. Yes there have been a few expensive upgrades in that number, but that still leaves a lot for just maintenance and repair. It works out to 26% of my total costs to live and travel on the boat. And this is for a 2001 boat that was I feel in good condition at the start that I have had and maintained for 5 years prior.

Can some longer term cruiser tell if and when the curve drops on these costs?


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## colemj (Jul 10, 2003)

It certainly doesn't drop. There are periods of refit that are expensive, followed by periods that are less expensive until the next refit. Of course, some just do without stuff that goes bad instead of fixing/replacing, and the boat gradually declines, and they claim it is cheap to live on a boat, but it is not the same as starting with a well-found boat and keeping it and its equipment in that condition.

Nothing about owning a boat makes any economic sense. It isn't even the cheapest way to spend time in different parts of the world, or even one's local area.

The simpler and smaller the boat, the cheaper, but even there is a limit because some stuff all costs the same regardless.

Just imagine if you dropped your steak and beer out of the budget. Then boat costs would be 50% of your total costs!

I'll trade you costs...

Mark


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## Don L (Aug 8, 2008)

colemj said:


> Just imagine if you dropped your steak and beer out of the budget. Then boat costs would be 50% of your total costs!



Good point. From now on it is only steak, lobster, and expensive food as a way to make boat costs as a percentage go down.


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## colemj (Jul 10, 2003)

Don L said:


> Good point. From now on it is only steak, lobster, and expense food as a way to make boat costs as a percentage go down.


That's the ticket. Work on it in relative terms and pretty soon boat costs will be such a small percentage of your budget that they can be ignored.

Mark


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## Mama's Mink (Dec 15, 2020)

This is called creative accounting.


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## danvon (Dec 10, 2012)

I talked to a guy a couple of years ago who said it was costing $18k a year to keep his kid (singular) ski racing. Made my boat seem pretty reasonable.


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## Don L (Aug 8, 2008)

barely


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## Don L (Aug 8, 2008)

tonight RIBEYE!!!!!!!


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## oldmanmirage (Jan 8, 2022)

Ribeye is my favorite cut of steak. Goes well with whiskey. And a salad and baked potatoe on the side.


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## Don L (Aug 8, 2008)

oldmanmirage said:


> Ribeye is my favorite cut of steak. Goes well with whiskey. And a salad and baked potatoe on the side.


When my wife says "steak" she mean ribeye. Everything else is "beef".

I am out of whiskey so going to have wine, which I of course consider fruit.


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## LaPoodella (Oct 5, 2018)

Don L said:


> Does the cruising boat ever become less of a money hog? So far full time on the boat for "boat maintenance, repairs, upgrades" it has cost:
> 
> year 1 - $8,291
> year 2 - $5,187
> ...


“The boat is free, it’s the maintenance that gets you,” Roger Sturgeon


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## LaPoodella (Oct 5, 2018)

colemj said:


> It certainly doesn't drop. There are periods of refit that are expensive, followed by periods that are less expensive until the next refit. Of course, some just do without stuff that goes bad instead of fixing/replacing, and the boat gradually declines, and they claim it is cheap to live on a boat, but it is not the same as starting with a well-found boat and keeping it and its equipment in that condition.
> 
> Nothing about owning a boat makes any economic sense. It isn't even the cheapest way to spend time in different parts of the world, or even one's local area.
> 
> ...


Houses have maintenance costs too.


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## LaPoodella (Oct 5, 2018)

I had a 26 foot fishing boat. I caught a few fish. They ended up costing me $1000s/ lb. I sold the boat and go to the fish market now.


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## Don L (Aug 8, 2008)

Don L said:


> Does the cruising boat ever become less of a money hog? So far full time on the boat for "boat maintenance, repairs, upgrades" it has cost:
> 
> year 1 - $8,291
> year 2 - $5,187
> ...


I looked through my records and figure that out of the number about $13k was "upgrades" that didn't have to be spent. About $18k was for things that maintained the boat fully seaworthy that if you were just going to live on anchor/marina could have not been done. That leaves $27k that were all the small/medium things to just keep the boat from falling apart.


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## chris_the_wrench (9 mo ago)

Don L said:


> year 1 - $8,291
> year 2 - $5,187
> year 3 - $14,262
> year 4 - $19,856
> ...


I appreciate your open books and sharing!

Would it be rude to ask what the price the boat was purchased for? What kind of distances are you doing a year? We are looking, waiting for prices to return to earth(if ever), for our first cruising boat. I was planning on roughly 100k, about 70-75 for the boat purchase and remainder for immediate work. I know an exact formula/ratio isn't possible.


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## SanderO (Jul 12, 2007)

What does boat maintenance include?

There are a lot of variables including location (weather/climate).

dockage/mooring rental seasonal
Winter storage (in or out of water)
electric hook ups (in slip)
annual insurance
mortgage when boat if not owned free and clear
annual registration fees when applicable
anti fouling bottom
diver scraping bottom
fuel
cooking gas
engine maintanace; belts, oil change and filters, impellers
LEDs, bulbs
waxing gelcoat surfaces
cleaning exterior teak
clean and maintenance of spars, painted surfaces, non skid etc.
maintenance / lubrication of winches and windlass
maintenance of pumps
maintenance of refer, AC and heating systems

Then there are items which are not annual:
paper charts, almanacs and cruising guides
installation and maintenance of navigation electronics, including charts, binoc, hand held compass
replacement of running rigging
replacement of standing rigging
replacement of deck hardware, lifelines
replacement of sails
replacement of ground tackle - anchor & chain, nylon rode
re-varnish of teak
replacement of cushions and upholstery, canvas work
engine re-builds or re-power
new gear such as bimini, boat cover, boat stands


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## Don L (Aug 8, 2008)

chris_the_wrench said:


> I appreciate your open books and sharing!
> 
> Would it be rude to ask what the price the boat was purchased for?


115k


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## Don L (Aug 8, 2008)

SanderO said:


> What does boat maintenance include?


In my numbers it includes everything having anything to do with the boat that isnt in the other cost categories i have posted for 68 months.

So everything from rags, waxes, engines, hose clamps, pumps, charts, wiring, fana, mattress, curtains. If it would stay as part of the boat it is a boat cost.


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## capttb (Dec 13, 2003)

Only kept my boats for ~5 years previously, buff them out and move on to the next, this one I'.ve had 12 years and the cycle is re-starting. On my second set of Batteries, GPS, Water Hx, and the "new" dodger is getting a little ratty, like painting the golden gate bridge, when you finish you go back and start over.


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## Pgutierrez (Dec 14, 2014)

$8000 per year all in (docking, winter storage, insurance, annual big ticket upgrade & replacement, basic maintenance). This year’s big item replacement of 22 year old refrigerator compressor & cold plate). Catalina 36, Pepin, WI, 9th year of ownership.


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## LaPoodella (Oct 5, 2018)

SanderO said:


> What does boat maintenance include?
> 
> There are a lot of variables including location (weather/climate).
> 
> ...


This is only a partial list. Lol. There’s still foul weather gear, harnesses, jack lines, life jackets, life boat, dinghy and engine…


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## Don L (Aug 8, 2008)

My goal for this month is to spend $0 on boat stuff.


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## joethecobbler (Apr 10, 2007)

So, $115 for the boat and $27 for 6 yrs floating.
And another $30 in " extras".
That's less than$5k a year to " maintain" the vessel, not terrible.

My numbers are similar , prortionally.
$1500.00 for the boat and about 20%of the purchase price each year on necessary maintenance.
From 06-2022


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## Don L (Aug 8, 2008)

So I set a goal to spend no new money on the boat this month!

I made it 10 days before I had to get air filters for the air conditioners (it was 103 yesterday) and a nozzle for the water hose. Because getting the filter is a PITA I got an extra. So there went about $39. But this is the type of cost people who don't keep track don't think about, but they add up.


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## colemj (Jul 10, 2003)

Don L said:


> So I set a goal to spend no new money on the boat this month!
> 
> I made it 10 days before I had to get air filters for the air conditioners (it was 103 yesterday) and a nozzle for the water hose. Because getting the filter is a PITA I got an extra. So there went about $39. But this is the type of cost people who don't keep track don't think about, but they add up.


You left out the hotdog you bought at the stand outside the hardware store...

Mark


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## Don L (Aug 8, 2008)

colemj said:


> You left out the hotdog you bought at the stand outside the hardware store...
> 
> Mark


I count that as "dining out"


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## joethecobbler (Apr 10, 2007)

Don L said:


> So I set a goal to spend no new money on the boat this month!
> 
> I made it 10 days before I had to get air filters for the air conditioners (it was 103 yesterday) and a nozzle for the water hose. Because getting the filter is a PITA I got an extra. So there went about $39. But this is the type of cost people who don't keep track don't think about, but they add up.


Nope, I think about those types of purchases, I just come to a different conclusion.
I consider the swim platform,and then recount the $39 I didn't spend, while I put the AC for sale.
The heat will pass , go for a swim.


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## Don L (Aug 8, 2008)

Sounds good on paper

I will cook you dinner to come swim behind my boat. Let me know when to expect you.


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## colemj (Jul 10, 2003)

joethecobbler said:


> The heat will pass , go for a swim.


You obviously don't live in Georgia. 103F today and the (nasty) water is 97F. I view the new A/C I just installed a bargain at any price.

Mark


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## colemj (Jul 10, 2003)

On the other hand, the new A/C came with a washable filter, so I'm $39 up now. And several years from now, I'll have saved significant money.

Mark


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## Don L (Aug 8, 2008)

colemj said:


> On the other hand, the new A/C came with a washable filter, so I'm $39 up now. And several years from now, I'll have saved significant money.
> 
> Mark


Mine also has one of those that mount in the inlet louver at the settee. The ones I got i mount right at the unit. It pretty must shows how much gets past the washable one.

I will run the compounding the filter costs once the market recovers. I am positive the $100/yr will become “real money” soon.

Btw i pay the same $25/mo electric whether i run the AC or not


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## colemj (Jul 10, 2003)

Don L said:


> I will run the compounding the filter costs once the market recovers. I am positive the $100/yr will become “real money” soon.


$100/yr on filters? That's crazy. $100/yr is our entire boat and living expenses. You're living large...


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## Don L (Aug 8, 2008)

as long as you apply


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## Don L (Aug 8, 2008)

"not counting" ............ xxxx


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## boatpoker (Jul 21, 2008)

Never occurred to me to track costs it wouldn't change how we choose to live.


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## Overdue (Jun 14, 2021)

A 'rule of thumb" I heard from a few "then experienced" senior citizen owners, each having owned (1960s, 1970s, 1980s) a few power/fishing boats with regular but moderate use (no live-aboard or long-range destinations), was 10%/ year of the purchase price. 
Of course this did not include food, booze, etc. While sail boats might have a few unique expenses (sails, rigging, roller-furller mechanisms, etc), power boats have larger and thirstier engines, more expensive to run and rebuild. Many items are probably the same to maintain though: galley, head, generator, HVAC, marina/slip fees, bottom cleaning, etc.


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## Don L (Aug 8, 2008)

Overdue said:


> A 'rule of thumb" I heard from a few "then experienced" senior citizen owners, each having owned (1960s, 1970s, 1980s) a few power/fishing boats with regular but moderate use (no live-aboard or long-range destinations), was 10%/ year of the purchase price.


Yeah and that is wrong!


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## Overdue (Jun 14, 2021)

Don L said:


> Yeah and that is wrong!


Criticism without explanation, not very impressive. If you paid 115k for the boat, and given your opening post including the schedule of what you've spent, well, do the math, not very far-off, is it?


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## Michael Bailey (Sep 10, 2021)

The costs and labor required never stops. Boats are like Gardens. If you stop - the weeds take over until it is completely unrecognizable. Such is life, I suppose.....


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## Don L (Aug 8, 2008)

Overdue said:


> Criticism without explanation, not very impressive. If you paid 115k for the boat, and given your opening post including the schedule of what you've spent, well, do the math, not very far-off, is it?



Good thing I didn't buy a boat that cost $300k then isn't it! Broken clock is right twice a day.


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## Overdue (Jun 14, 2021)

Don L said:


> Yeah and that is wrong!


*___*

A quick Google search shows that those old salts offering their advice to me, weren't too far off:

Others promulgate "the 10% rule":









Estimating Boat Maintenance Costs


There are a couple of common rules of thumb for estimating annual boat maintenance expenses: 10% of the used purchase price, or 2% of the original purchase price. I applied a little science to figure out if they actually work.




sailsgoal.com













The Cost of Boat Ownership: 11 Things to Expect


What are the costs of boat ownership? You need to operate, maintain, and repair your vessel - this guide outlines everything you need to know.




www.hashtagboatlife.com













How much does a boat cost to own


Quickly figure out how much a boat costs with our FREE boat cost calculator. Understand both the purchasing costs and the ongoing cost of owning a boat.




waterbornemag.com













How much does it cost to own a yacht? | United Yacht Sales


The cost of yacht ownership varies greatly by size, location, intended use, and storage options.




www.unitedyacht.com










Average Sailboat Maintenance Costs (with 4 Examples)


A lot of new boat owners overlook the maintenance costs of sailboats - and maintenance can get pricey quickly. To save you from surprises, here's a full overview of costs you can expect when owning a sailboat.




improvesailing.com













How much does it cost to maintain a boat? - The Florida Mariner


How much does it cost per year to own a boat in Florida? The feeling you get when you complete the purchase of a boat is pretty special. Not only do you have a new (or new to you) boat to make your own, but you also get to move past the financial stress that...



themariner.com






So I guess all of these (and many others publishing the same) are "... wrong!" 

Do you have any references to published data disagreeing with "the 10% rule"? I would be most interested in reading it/them.


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## Overdue (Jun 14, 2021)

Don L said:


> Good thing I didn't buy a boat that cost $300k then isn't it! Broken clock is right twice a day.


If you bought a used good-condition boat for $300k, then yes you would need to budget about $30k / year for it, assuming you wanted to keep it in good-condition.


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## SchockT (May 21, 2012)

Overdue said:


> A 'rule of thumb" I heard from a few "then experienced" senior citizen owners, each having owned (1960s, 1970s, 1980s) a few power/fishing boats with regular but moderate use (no live-aboard or long-range destinations), was 10%/ year of the purchase price.
> Of course this did not include food, booze, etc. While sail boats might have a few unique expenses (sails, rigging, roller-furller mechanisms, etc), power boats have larger and thirstier engines, more expensive to run and rebuild. Many items are probably the same to maintain though: galley, head, generator, HVAC, marina/slip fees, bottom cleaning, etc.


I have heard the 10% rule, but only in reference to mega yachts. I don't think it can be applied to regular pleasure craft.

Maintenance and repairs on my old 15k boat were not much different than on my $200k boat. That will likely change as the 200k boat ages.


Sent from my SM-G981W using Tapatalk


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## Don L (Aug 8, 2008)

so funny people will research to find support of their theories

I know a thread here that is currently active where someone wrote in they only spend $50/YEAR on boat maintenance


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## joethecobbler (Apr 10, 2007)

colemj said:


> You obviously don't live in Georgia. 103F today and the (nasty) water is 97F. I view the new A/C I just installed a bargain at any price.
> 
> Mark


Correct, I'm much closer to the equator than that, usually.
This year I'm in Yankee land filling my pockets and emptying " theirs".


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