Cost of fitting out

[Philsy]

I'm considering taking on an unfinished project. It's a 42ft motorsailer and, at present, is no more than a steel hull and superstructure. Basically, then, it needs completely fitting out - engine, interior, steering, rigging, electrics and so on.

The question is, what is this likely to cost? Of course, no one can give an exact answer to this, but I'm looking for ballpark figures. I've made a rough guestimate myself, but would like to see if others come in about the same. I don't need to include labour in the costs.

Many thanks

Phil

<hr width=100% size=1>

 

[andy_wilson]

How about hull value £15k (10%), and fit out including labour and yard fees is then £135K.

DIY and save 50% of this due to labour savings (less any items you need to call in the specialists for) but prolong the yard fees by several years (or £0,000 put another way).

All total guess work of course.

If you are incredibly industrious, focussed, motivated and competent in several engineering and fitting disciplines, AND have a superb eye for fit and finish, AND have an immense amount of spare time OR your own time at work doesn't nett you very much income, do it.

Otherwise go out and earn £150K to spend on a used 42' motorsailor with all the cruising equipment you are likely to need (eg safety gear and cruising comforts say £7k on a 42'er) and accept that in the long run it will cost you less in time, money, blood, sweat and tears than your alternative which may well become yet another unfinished (but slightly less unfinished) project.

I have actually seen two self-fitted-out yachts (both on Colvic hulls coincidentally, a 26 and a 33) that were worth a candle. I have seen loads that basically looked like sheds and would only ever be worth a fraction of the cost put into them, let alone the time and effort.

Fact.

<hr width=100% size=1>

 

[ccscott49]

It will cost you at least 15k pounds per foot, ifyou do all the work yourself annd get a lot of gear from boat jumbles, if you are working, just not worth it, unless you have 20 years to do it in. sorry to be so mnegative, but its the truth. IMHO

<hr width=100% size=1>

 

[claudio]

Is that 15k per foot or per metre. If it's per foot you'd have to be mad to even consider it. Even at 15k per metre and the amount of time for the refit it means no sailing for years.



<hr width=100% size=1>

 

[Philsy]

Thanks for the replies. I can't see how it could be £15k per foot - that's £630,000! Pessimistic by anyone's standards.

I figured on around £40k for materials (not including hull) plus yard fees. Achieving a first-class finish is not a problem because I'd be doing the project with a professional boatbuilder.

Any more thoughts?



<hr width=100% size=1>

 

[ccscott49]

sorry meant £1500 per foot, 40k for materials?? have you priced up the rig sails, running rigging, winches etc in that figure? i think you are being overly optimistic. but go for it! Friend of mine spent 150,000 on a steel 38 foot yacht. Mind you he is a bit stupid.

<hr width=100% size=1>

 

[snowleopard]

everything depends on your standard of finish and equipment. i would work on an estimate of 2,500 man hours for a basic finish, double that for a high quality job.
for example a friend spent two weeks making a locker for his gas bottles, i did the same job in half a day. his was immaculate, mine was servicable.

multiply that by the hourly rate for labour (i.e. zero for yourself)

fittings and materials would set you back £40k for a basic cruiser, up to £50k more for ocean and luxury fittings.

<hr width=100% size=1>

 

[Philsy]

Thanks for all the feedback - it's very useful.

2500 manhours worries me - that's about a year fulltime work for one person.

It also looks as if I'd end up spending more than 40k. So I'm starting to wonder if this idea is a non-starter.

On the other hand, if I can end up with a brand-new 42ft boat for about £60k that's a bit of a bargain...



<hr width=100% size=1>

 

[ccscott49]

Can you do electrics, electronics, engine instalation, shaft and alignment, plumbing, make water, fuel tanks, do your own rigging? etc. are you going to fitit out to a standard which somebody else might want in a few years? are you going to do a top class job ofpainting and protecting the steelwork and insulate the hull and deck, these things are going to cost, believe me. thats why you see so many unfinished projects adanndoned and for sale or rusting away. Look long annd very hard at this. IMHO

<hr width=100% size=1>

 

[poggy]

Hi,

Where is the boat based ?. You should think about starting up a company to do it and then registering for trade discounts with the various suppliers. The company obviously doesn't need to make a profit and as long as you don't leave debts you can dissolve it at the end of the job.

You may get more help from suppliers in terms of support and probably be able to buy direct.

Good Luck

Poggy

<hr width=100% size=1>

 

[claudio]

If you've done the sums and arrive at 40K I would suggest that you speak to at least two or three people who have done it already. Most I've spoken to say 'never again' and that the refit cost them twice the original estimate if not more.
I'm not trying to put you off but as mentioned earlier, if you run out of cash, your project will be passed on to the next builder.
Good luck anyway, I hope that you manage to complete the refit, I think we would all be interested in your progress.



<hr width=100% size=1>

 

[graham]

I have never fitted out a boat as large as that but have fitted out a few smaller ones and doubt very much that one person working full time for 12 months could complete it.

If you have to spend time hunting for bargains to keep cost down then the time will start evaporating before your eyes.

Idont like sounding so pessimistic but if you are going to do it then do it with your eyes wide open from the start.

Best Regards Graham,

<hr width=100% size=1>

 

[Philsy]

The boat would be mine, so I'd demand a top-class finish. I can cope with electronics and mechanical side of things - hardly rocket science. My partner in this project is a boat builder and can do superb woodwork.

The boat will be in Southampton - great idea about the company. Thanks.

<hr width=100% size=1>

 

[clyst]

If the boat is in southampton how is yard storage ?? To give a more realistic cost guide this should be known cos believe me the project of that size will take you several years!!
Is / was the hull/superstructure coated ie sand blasted and epoxied from new?? if not I certainly not describe the boat as"New" when finished .
Is the boat prof built ?? If not resale value will be drastically reduced how ever well the interior is fitted out .
My advice would be to leave well alone , ask yourself why has it not been fitted out by the original owner? maybe he costed it out!
Sorry to be pessimistic but believe me at the end of the day you will gain nothing but could lose thousands if the project is left unfinished. I have been plagued by people in the past begging me to buy their unfinished projects cos they've run out of dosh.
Cheers

Terry

<hr width=100% size=1>

 

[Philsy]

What constitutes professional? I'd be aiming at a higher standard of finish than that of many production boats (a well-known brand beginning with 'M' springs to mind). Surely resale value depends on the quality of the finished job, not whether it was built by a company or individual.

As for the previous owner, he was unable to finish it because he died. A valid excuse I think...

Seriously, though, lots of food for thought here - keep it coming!

Many thanks

<hr width=100% size=1>

 

[clyst]

Sorry I wasn't doubting your ability to fit out the project to a "professional" standard . If the hull wasn't constructed professionally (its easy to spot a home built steel hull), then it doesn't matter how good a job you do fitting it out it wont be "professionally built " Trust me, It wont.

Terry

<hr width=100% size=1>

 

[Philsy]

OK, fair point. I've yet to see the hull for myself - it's some distance away and I'm trying to weigh up whether or not it's worth viewing. My understanding, though, is that it was self-built (from plans) by a competent engineer. The surface finish is an unknown, too.

<hr width=100% size=1>

 

[polarity]

Also dont forget the RCD.
If you have other people do it (ie organise subcontractors) it has to be fully inspected (3 inspections totaling 6-7,000 quid + VAT for a 50ft er I was looking at having built). If you build it yourself its exempt BUT you can not sell it for 5 years afterwards.

Paul

<hr width=100% size=1>Paul
<A target="_blank" HREF=http://www.polarity2.com>http://www.polarity2.com</A>
Class II OSTAR/Transat 2004

 

[Philsy]

What is RCD? This is a new one to me.

<hr width=100% size=1>

 

[clyst]

Doesn't matter if ihe was a competent engineer its whether he was a competent welder !
Go and have a look otherwise you will always wonder but if it hasn't been sand blasted and epoxied from build walk away from it .
Cheers

Terry

<hr width=100% size=1>