Realistic cost expectation

[Bardstownsail]

I'm a few years away from buying my dream boat. Plan to spend months to half the year in warmer locations. I'd like to base the boat in Florida, although I'm not married to that. What is a realistic annual cost of ownership projection? I'm not talking about purchase price, but what is an approximation of the costs (mooring or docking, insurance, maintenance) to keep say a 50-55 ft boat in Florida. I'm open to the gulf side as well. Other than Florida?

Thanks for any help.

[billknny]

Originally Posted by Bardstownsail

I'm a few years away from buying my dream boat. Plan to spend months to half the year in warmer locations. I'd like to base the boat in Florida, although I'm not married to that. What is a realistic annual cost of ownership projection? I'm not talking about purchase price, but what is an approximation of the costs (mooring or docking, insurance, maintenance) to keep say a 50-55 ft boat in Florida. I'm open to the gulf side as well. Other than Florida?

Thanks for any help.

In the grand scheme of things, it doesn't vary all that much with geography. Although there are places you can chose that are well above the norm, typically major metro areas. (Miami and Ft Lauderdale come to mind...)

Hull insurance in Florida is expensive, but away from the major cities other costs are low.

As for the overall cost of ownership... read this:

Purchase and maintenance costs of a cruising sailboat.

[skipmac]

Cheapest dockage I've found in FL is north FL and the Panhandle, $3-$4/ft per month plus utilities and liveaboard surcharge, Like Bill said, south FL a lot higher, basically from Jupiter/Ft Pierce area to Miami. Price drop down some in the northern Keys.

Might find something comparable in the less ritzy areas of the west coast. Once north of Clearwater it gets shallow and not many facilities until you get to the Panhandle.

Maintenance? A HUGE variable. First question, will you do it yourself or pay an independent tech or drop the boat at a boat yard and tell them "fix it".

Next issue, you might go years and years with not much more than oil changes, new filters and a bottom job every year or so. Then comes around to new sails. That could run you $10-$20 thousand but then you're good for years. Motorboat? Same deal. Might be good for years then blow a transmission and be out $5-$10 thousand. Generator goes you could be shelling out $10-$20 thousand.

A lot of people give the rule of thumb of 10% of the value of the boat per year. I never really subscribed to that. Most years (discounting dock fees) I'm way, way less than that. Occasionally that or more. Over time and a few big expenses I guess it could average out in that range.

[letsgetsailing3]

I believe the answer is "all you've got".


But there are some who swear you can get buy on a giant boat with $500 per month.



Others have posted what it cost them, and some with pretty good details.

[mvweebles]

Agree that the costs don't vary much in 6o% of areas. Some incredibly high. Some incredibly low.

But best guess for basic "sustain" cost for a 55-footer includes insurance ($1500-$2000/yr), dock/utilities ($700-$850/mo), bottom diver (8x/yr in Florida at $125-$150/ea), and a haul every 2-3 years to paint bottom, zincs, etc. ($1250-$1500/yr on average).

How much total? $12k-$15k per year before you step aboard and have the privilege of using the boat or making changes, upgrades, or actually performing maintenance such as engine service, etc.

I'm sure there will be many frugal Sailors who will chime in with examples of ultra low costs in the above categories, and others who scoff because they do their own work or keep their boat in some low-cost marina or have liability only insurance and accept the risk of damage to their boat . Keep in mind that low cost marinas are low cost for a reason (as are high cost marinas). I'm assuming you will be an absentee owner for at least several months per year, may even want to travel to the boat for a long weekend. Berthing in the Florida panhandle may not be practical.

Slip fees are going to be in the $12-$15 per foot range per month, and unless your boat is almost exactly the length of an available slip, you may need to go with next bigger size - a 60-foot slip, for example.

Good luck!

Peter

[WSMFP]

14-16 a foot seems to be the going base rate for a slip in west central FL lately. Add tax and other fees to that.

[Bardstownsail]

Great responses. I'm seeing $12-16 ft for slippage, excluding the cost of maintaining the boat. Would $20k be a reasonable estimate for annual maintenance?

[dannc]

Another way to look at estimating the cost of maintaining a boat is by displacement.

Morgan's Clouds website has a spreadsheet that allow you to tweek various parameters such as displacement, miles sailed per year, how the boat is outfitted, who maintains the boat, etc to give an estimate. It certainly seems like a better way to estimate costs.

https://www.morganscloud.com/2014/07...ging-sailboat/

You do have to pay to see most of the content on the Morgran's Cloud website but it is well worth the cost.

Later,
Dan

[Wayne hoath]

It all depends on the original price of the boat which likewise reflects the refinements and number of toys onboard. I was always told between 15% and 20% of purchase price per annum if you want to keep it like new. That has also been my personal experience too.

[Sailmonkey]

Originally Posted by Bardstownsail

Great responses. I'm seeing $12-16 ft for slippage, excluding the cost of maintaining the boat. Would $20k be a reasonable estimate for annual maintenance?

Who’s doing the work? You or a hired hand?

HUGE cost difference.