Boat Costs

onesea

onesea

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OK as some know I recently moved up from my mast 24' boat and knew we where buying into more cost... The recent post got me thinking (note to self stop reading forums they make you think)...

So for my 35' I was thinking how much I would really spend :eek:

Known fully you should never even try and work it out :eek:

What do you reckon to the following have I missed any biggies? Yes rudder bearing, cutlass, bearing, mast :eek:

OK but the following I think it reasonable??

Item, Cost, No Years, Cost/ Year
Insurance, 300.00, 1, £300.00
Engine Service, 200.00, 1, £200.00
Engine prop etc, 10,000.00, 20, £500.00
Sails, 12,000.00, 12, £1,000.00
Life Raft, 600.00, 10, £60.00
Life Raft Service, 150.00, 3, £50.00
Halyards, 800.00, 15, £53.33
Sheets/Misc Ropes, 1,000.00, 15, £66.67
AntiFouling, 100.00, 1, £100.00
Cranage/ Chocking/ Storage?, 300.00, 1, £300.00
Dinghy, 600.00, 10, £60.00
EPIRB, 400.00, 10, £40.00
EPIRB Bat, 100.00, 3, £33.33
Flares, 150.00, 3, £50.00
Instruments, 1,000.00, 15, £66.67
VHF Radio, 300.00, 15, £20.00
AIS, 300.00, 15, £20.00
Rigging, 2,000.00, 15, £133.33
Uppolstery, 3,000.00, 20, £150.00
Danbouy Life ring Light, 150.00, 10, £15.00
Hand held VHF, 200.00, 15, £13.33
Sails Service, 500.00, 7.5, £66.67
Water Heater, 200.00, 10, £20.00
Water Pump, 200.00, 10, £20.00
Cooker, 400.00, 20, £20.00
Bildge Pump, 100.00, 10, £10.00
Toilet, 100.00, 8, £12.50
Snatch Blocks, 400.00, 15, £26.67
Clutches, 600.00, 15, £40.00
Heater, 1,500.00, 10, £150.00
Fridge, 600.00, 10, £60.00
Misc Maintence , 1,000.00, 1, £1,000.00
, £39,250.00, , £4,657.50

Sorry had it nicely spaced but when live it did not help...

Was going to delte thread but cannot see how :confused:
 
Last edited:
I am puzzled by your accounting approach. Why do you want to do this?

Your amounts may be right, but they assume you want to create a maintenance reserve so you can always bring the boat back to its nominal "new" value. You certainly won't actually be buying all that stuff.

Most people let the boat value depreciate as the practical alternative. When price inflation kicks in at that helps to offset the devalueing of the components.

If you buy the right boat you may well find you can sell it, in cash terms, for what you paid for it.
 
onesea said:
OK as some know I recently moved up from my mast 24' boat and knew we where buying into more cost... The recent post got me thinking (note to self stop reading forums they make you think)...

So for my 35' I was thinking how much I would really spend :eek:

Known fully you should never even try and work it out :eek:

What do you reckon to the following have I missed any biggies? Yes rudder bearing, cutlass, bearing, mast :eek:

OK but the following I think it reasonable??

Item, Cost, No Years, Cost/ Year
Insurance, 300.00, 1, £300.00
Engine Service, 200.00, 1, £200.00
Engine prop etc, 10,000.00, 20, £500.00
Sails, 12,000.00, 12, £1,000.00
Life Raft, 600.00, 10, £60.00
Life Raft Service, 150.00, 3, £50.00
Halyards, 800.00, 15, £53.33
Sheets/Misc Ropes, 1,000.00, 15, £66.67
AntiFouling, 100.00, 1, £100.00
Cranage/ Chocking/ Storage?, 300.00, 1, £300.00
Dinghy, 600.00, 10, £60.00
EPIRB, 400.00, 10, £40.00
EPIRB Bat, 100.00, 3, £33.33
Flares, 150.00, 3, £50.00
Instruments, 1,000.00, 15, £66.67
VHF Radio, 300.00, 15, £20.00
AIS, 300.00, 15, £20.00
Rigging, 2,000.00, 15, £133.33
Uppolstery, 3,000.00, 20, £150.00
Danbouy Life ring Light, 150.00, 10, £15.00
Hand held VHF, 200.00, 15, £13.33
Sails Service, 500.00, 7.5, £66.67
Water Heater, 200.00, 10, £20.00
Water Pump, 200.00, 10, £20.00
Cooker, 400.00, 20, £20.00
Bildge Pump, 100.00, 10, £10.00
Toilet, 100.00, 8, £12.50
Snatch Blocks, 400.00, 15, £26.67
Clutches, 600.00, 15, £40.00
Heater, 1,500.00, 10, £150.00
Fridge, 600.00, 10, £60.00
Misc Maintence , 1,000.00, 1, £1,000.00
, £39,250.00, , £4,657.50

Sorry had it nicely spaced but when live it did not help...

Was going to delte thread but cannot see how :confused:
Click to expand...

1/ No mooring or berthing then
2/ off-sett holidays that you would have had to pay for, x family numbers
 
Ex-SolentBoy said:
I am puzzled by your accounting approach. Why do you want to do this?

Your amounts may be right, but they assume you want to create a maintenance reserve so you can always bring the boat back to its nominal "new" value. You certainly won't actually be buying all that stuff.

Most people let the boat value depreciate as the practical alternative. When price inflation kicks in at that helps to offset the devalueing of the components.

If you buy the right boat you may well find you can sell it, in cash terms, for what you paid for it.
Click to expand...

I guess it depends on how long you expect to keep the boat - the list looks pretty comprehensive and the figure are not unreasonable in most cases. The problem comes with those figures that are spread over periods of ten years or more - will you keep the boat that long? Possibly so, in which case the sums are valid. If not, then it becomes a calculation for the boat, not the owner - I suppose that the longer term figures are implicitly rolled into the price you get when you sell the boat after five or six years, but it's not a very scientific calculation.

Our current boat will probably be about three years old when we part with it, so any expenditure from year four onwards is quite academic as far as we are concerned. It's replacement will probably be the last boat we ever buy and expenditures out to year fifteen or twenty will be significant - YMMV
 
If you are doing a whole life calculation then you need to calculate Depreciation (asset cost minus value at end of life), Interest (on initial expenditure - even if paid cash, that cash could have been invested instead) and maintenance (most of which you seem to have covered).

Next you should discount later year's expenditure to bring the totals down to a Present Value that you would need to put in the bank to meet all the calculated annual charges. Now do the same for your alternative use of the funds & you will know the cost (or savings) of your chosen course of action.

Damn tedious I know, But I used to do it for a living on Long Term Planning for a major utility company so that major decisions could be made between possible options.
 
onesea said:
Sorry had it nicely spaced but when live it did not help...
:
Click to expand...

Like this?
Code: 
Item, Cost, No Years, Cost/ Year
Insurance, 300.00, 1, £300.00
Engine Service, 200.00, 1, £200.00
Engine prop etc, 10,000.00, 20, £500.00
Sails, 12,000.00, 12, £1,000.00
Life Raft, 600.00, 10, £60.00
Life Raft Service, 150.00, 3, £50.00
Halyards, 800.00, 15, £53.33
Sheets/Misc Ropes, 1,000.00, 15, £66.67
AntiFouling, 100.00, 1, £100.00
Cranage/ Chocking/ Storage?, 300.00, 1, £300.00
Dinghy, 600.00, 10, £60.00
EPIRB, 400.00, 10, £40.00
EPIRB Bat, 100.00, 3, £33.33
Flares, 150.00, 3, £50.00
Instruments, 1,000.00, 15, £66.67
VHF Radio, 300.00, 15, £20.00
AIS, 300.00, 15, £20.00
Rigging, 2,000.00, 15, £133.33
Uppolstery, 3,000.00, 20, £150.00
Danbouy Life ring Light, 150.00, 10, £15.00
Hand held VHF, 200.00, 15, £13.33
Sails Service, 500.00, 7.5, £66.67
Water Heater, 200.00, 10, £20.00
Water Pump, 200.00, 10, £20.00
Cooker, 400.00, 20, £20.00
Bildge Pump, 100.00, 10, £10.00
Toilet, 100.00, 8, £12.50
Snatch Blocks, 400.00, 15, £26.67
Clutches, 600.00, 15, £40.00
Heater, 1,500.00, 10, £150.00
Fridge, 600.00, 10, £60.00
Misc Maintence , 1,000.00, 1, £1,000.00
, £39,250.00, , £4,657.50

That didn't help. Oh well, I tried
 
how about

Code: 
Item                             Cost Yrs £/Year
Insurance                         300   1    300
Engine Service                    200   1    200
Engine prop etc                 10000  20    500
Sails                           12000  12   1000
Life Raft                         600  10     60
Life Raft Service                 150   3     50
Halyards                          800  15  53.33
Sheets/Misc Ropes                1000  15  66.67
AntiFouling                       100   1    100
Cranage/ Chocking/ Storage?       300   1    300
Dinghy                            600  10     60
EPIRB                             400  10     40
EPIRB Bat                         100   3  33.33
Flares                            150   3     50
Instruments                      1000  15  66.67
VHF Radio                         300  15     20
AIS                               300  15     20
Rigging                          2000  15 133.33
Uppolstery                       3000  20    150
Danbouy Life ring Light           150  10     15
Hand held VHF                     200  15  13.33
Sails Service                     500 7.5  66.67
Water Heater                      200  10     20
Water Pump                        200  10     20
Cooker                            400  20     20
Bildge Pump                       100  10     10
Toilet                            100   8   12.5
Snatch Blocks                     400  15  26.67
Clutches                          600  15     40
Heater                           1500  10    150
Fridge                            600  10     60
Misc Maintence                   1000   1   1000
                                39250     4657.5

??

:)

It's monospaced text - you need to add spaces to align it all up..
 
fireball said:
how about

Code: 
Item                             Cost Yrs £/Year
Insurance                         300   1    300
Engine Service                    200   1    200
Engine prop etc                 10000  20    500
Sails                           12000  12   1000
Life Raft                         600  10     60
Life Raft Service                 150   3     50
Halyards                          800  15  53.33
Sheets/Misc Ropes                1000  15  66.67
AntiFouling                       100   1    100
Cranage/ Chocking/ Storage?       300   1    300
Dinghy                            600  10     60
EPIRB                             400  10     40
EPIRB Bat                         100   3  33.33
Flares                            150   3     50
Instruments                      1000  15  66.67
VHF Radio                         300  15     20
AIS                               300  15     20
Rigging                          2000  15 133.33
Uppolstery                       3000  20    150
Danbouy Life ring Light           150  10     15
Hand held VHF                     200  15  13.33
Sails Service                     500 7.5  66.67
Water Heater                      200  10     20
Water Pump                        200  10     20
Cooker                            400  20     20
Bildge Pump                       100  10     10
Toilet                            100   8   12.5
Snatch Blocks                     400  15  26.67
Clutches                          600  15     40
Heater                           1500  10    150
Fridge                            600  10     60
Misc Maintence                   1000   1   1000
                                39250     4657.5

??

:)

It's monospaced text - you need to add spaces to align it all up..
Click to expand...

It still came out as the same figures :p
 
All this shows is that the rule of thumb that maintenance costs average between 5-10% value of boat is as good as any - and you don't need to be able to space the table, or indeed do any addition - just spend the money.
 
sailorman said:
i dont do "Boat budgets" no point i will almost certainly own a boat as long as i draw breath ;)
Click to expand...

Very true! In my world my boat budget amounts to what I can disclose to SWMBO (approximately half of true cost on average) offset against the perceived accumulated value of grass cutting & decorating!! :)
 
carise said:
Very true! In my world my boat budget amounts to what I can disclose to SWMBO (approximately half of true cost on average) offset against the perceived accumulated value of grass cutting & decorating!! :)
Click to expand...

You need a different SWMBO - I have to keep mine under control or she would blow the lot on the boat!
 
Quibbling over your numbers is just so easy! I guess you don't intend to sail very much, or very far, and definitely no racing. 12 years for sails? - you need to keep them out the sun for that and the same for ropes. Cheapo liferaft and coastal flare pack. Then I wouldn't trust £100 of antifoul a year to keep it clean. What about diesel and diesel bug killer, an outboard for the dinghy, you might want more than the one instrument £1k will buy, charts at £18 each + a sexy chart plotter, pilot books, and on and on it goes...... and you haven't even mentioned anchors.
You were right - you shouldn't try to work it out!
 
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