eddystone
Well-Known Member
I have found the 10% rule for annual spend - maintenance; insurance; berthing works for me.
So for a boat worth ~ £50 k then ~ £5k before the boat actually gets used. This is where you need to be careful with what you buy, and remedial works upon purchase should be added to the purchase price to get this ~value.
Yes there will be years when significantly more cost arises, e.g. as you suggest a replacement engine., or new rigging Assuming you will need one ~20 - 30 HP then a new one will easily set you back £10k, and that excludes the cost of installing it. Therefore also worthwhile considering an overhaul of the existing engine, as the removal and re-install cost will be far less than that to fit a new or replacement second hand engine with different geometry.
A new 20-30HP should be more like £5K plus ancilliaries + installation cost.