Complete refit costs

[Monique]

A full refit is far more expensive than you think. Given the suggested figures, you are into bankruptcy territory.

Don't ask how I know... :-(

 

[geem]

Not a chance at £40k. Double that to start and you might cover the materials. Just a few rough figures. Engine £10k, electronics £8-10k, sails and rigging £10k (using existing mast), cabin refit £5-8k, electrics £5k, 4 winches £4k. still lots more to come!. To put it into perspective a new 46' mass produced boat is min £200k, hull and deck is approx 20% of total cost and your list covers the materials for the majority of rest of the cost. Then you are going to pay labour at yard rates rather than mass production rates. A custom built 45' is roughly double the price of a mass produced boat, and this is what you are proposing. Say you spend £80k on buying your old boat (like the Contest I was looking at the other day) you might get the whole job done for a total of £250k. So you are getting a nearly new custom boat for a bit more than a mass produced boat of similar size. But......

I have refurbished a 44ft yacht. These figures are light. Genoa winches alone for mine are £2.2k each. Engine without fitting is £12k. I would guess doing most of the work yourself you are likely to spend circa £80k

 

[Koeketiene]

I would guess doing most of the work yourself you are likely to spend circa £80k

That's a rather pessimistic figure.
Our refit of a 44' boat - 90% of the work done by a yard - came in just under 70K. And that included new deck, standing rigging, sails, coppercoat & awlgrip, electronics and engine.

 

[geem]

That's a rather pessimistic figure.
Our refit of a 44' boat - 90% of the work done by a yard - came in just under 70K. And that included new deck, standing rigging, sails, coppercoat & awlgrip, electronics and engine.

The cheapest quote for a new teak deck for my boat was £30k.
Your work is a lot less than the OP is describing for his refit and he says there are other things to add in as well. Like most budgets it is better to be realistic and come in under budget that optimistic about the cost and over budget.

 

[Koeketiene]

The cheapest quote for a new teak deck for my boat was £30k.

The cheapest quote for a new deck in the UK was around that mark too.
So, we didn't have it done in the UK. Work was done in Belgium for €23K.
As always, the boat went were the jobs could be done cheapest without compromising quality.

For almost all jobs, I obtained quotes from several yards. And gave some a chance to improve on their quotes.
One yard quoted me silly money for a lot of the work in 2007. Did not proceed.

Revisited that same yard in 2009-2010, when they NEEDED the work.
New, revised quote was 40-45% lower.

Your work is a lot less than the OP is describing for his refit and he says there are other things to add in as well.

Other than the winches and upholstery, we pretty much had the same things done. And OP does not need a new deck. IMO, 80K is waaayyyy too much. If a boat 25-30 year old boat looks like it might need 80K of work, it's best to walk away. Especially since OP is looking to sell again after only 3-5 years of ownership.

Like most budgets it is better to be realistic and come in under budget that optimistic about the cost and over budget.

Boatyard Axioma: Everything costs more and takes longer than whatever time/funds you have allowed for. No matter how realistic you think you are.

 

[KINGFISHER 9]

And the worst part is youre paying boat yard prices who pay minimum wage for their employees who's attitude is on par with the wage..
Ive just refit my boat completely..
New engine/ New Mast, rigging/ New Sails/ New Electrics/ New winches/ Hull was taken back to bare and surveyed, repaired and repainted..
The yard took ages to do anything and lied and overcharged.. The money ive spent I could of bought a new boat but obviously not as good a quality or hullshape performance etc.
I am happy with it, I have done most of it myself where possible and I wont get the money back. But isn't every boat an ongoing project?
Ive spent 150 thousand gbp to get what I have today including what I paid for the boat.

"Lied and overcharged" being the operative words ... sums up many British boatyards alas ... yes I know, I'm sure there are some good ones, it's just that I've yet to find them!