real cost of owning this boat

Have been watching this thread since this morning, lots of good input from previous posters.
Couple of observations,

Bottom paint every three years is highly variable. The water the boat is sitting in, currents, etc. impacts lifetime of paint. One location may get 3 years, another may get 1.5. Big impact on the proper selection of the paint you use as it relates to your conditions. Budget 2 years instead of 3.

Insurance, slip cost, and understanding your usage to fuel burn are very predictable.

Good survey can make engine costs reasonably predictable in the short term, but don't forget preventative maintenance. Have you looked at recommended maintenance schedules for the engines? What is upcoming at various hour levels?

What are your maintenance skills? How many things are you going to take care of versus hiring it done. For us, we go to the boat to enjoy it, not work on it. Our choice is to pay someone else to fix things. Some people do the work themselves, save a lot of ownership costs.

Is the boat in a covered slip or an open slip - 1-2 waxing's a year versus 3-4.

Dive on the bottom is once a month.

What is your washing plans? I wash at a minimum every two weeks. I time them so it right after the boat has been out and right before we show up. Salt water on the boat eats up the wax. Are you doing the washing or hiring it?

Your talking about FL, good news is you don't have to deal with winterization. Consideration you need to plan for is Hurricanes. Are you going to purchase a haul out plan? Are you local to the boat and able to do hurricane prep per your plan, or do you have to hire someone? What is the cost when a hurricane is headed towards you that you are out of pocket? There can be significant amount of work prepping a boat for an approaching hurricane.

Finally you get all this planned out - then as mentioned by someone in a previous post you need to allow for the unexpected. Most of these expenses are probably related to systems on the boat. What is the cost of losing an AC unit? A hot water heater? Some are low dollar, some can be higher. You may go 2 years with no big ticket items, but they will pop up.

If you are buying new with a warranty, no worries for a few years. If your not under warranty - system issues need to be accounted for.

There is a rule of thumb passed around a lot which says plan on 10% of purchase price annually to cover slip, insurance, and maintenance. Personal experience, not sure. Have not done the math over a few years on salt water with 2 different boats. So much depends on the condition of the boat you buy.

@fwebster made a comment to me years ago about salt water boating. Back when we were entering the ownership of a salt water boat. Found his words to be very insightful and correct. To paraphrase, his comment was you spend time with the boat - everything is perfect. Your gone for a few of weeks, come back, something has "broken" and doesn't work. I remember that comment every month, Frank is correct. May be something minor, or the precursor to a larger problem.

You are asking a very good question to understand the costs, but keep in mind not all brokers are created equal, I would need to have extreme confidence in the individual before relying on a broker for input on this topic.

This is an excellent location to come to for the input you are looking for. Some very knowledgeable people here that I continue to be astounded by their knowledge and experience.

This topic has been discussed a lot over the years. I did a quick search on ownership costs - lots of good threads. Recommend you search the site some, lots of good information.

Probably the biggest consideration that drives estimation of ownership costs is the due diligence during the purchase process. Don't skimp on surveys for the boat and the engines (separate). Be present when the surveys are done. Don't rely on the written reports, be there so you can have discussions with the surveyor about issues and topics.


Dead on!!!!
 
People still ask how I only paid 49 k for our 460.. lol
The funny part my girl is a huge gun owner.... like over 50 fire arms or more . Its funny when I ask they all seam to cost $200.00. I just smile as she knows the boat stuff is more and I know her hobby is more.

That is why we get along so well.

My EX when we split up " still friends" so we can joke . when we packed her stuff up she had 2800 pairs of shoes/ boots. Now put a spread sheet to that!

Was that a typo???? 2800 pairs of shoes?
 
People still ask how I only paid 49 k for our 460.. lol
The funny part my girl is a huge gun owner.... like over 50 fire arms or more . Its funny when I ask they all seam to cost $200.00. I just smile as she knows the boat stuff is more and I know her hobby is more.

That is why we get along so well.

My EX when we split up " still friends" so we can joke . when we packed her stuff up she had 2800 pairs of shoes/ boots. Now put a spread sheet to that!

Was that a typo???? 2800 pairs of shoes?
 
Boats cost money???o_O I've never seen the bill...nor do I care to.
 
People still ask how I only paid 49 k for our 460.. lol
The funny part my girl is a huge gun owner.... like over 50 fire arms or more . Its funny when I ask they all seam to cost $200.00. I just smile as she knows the boat stuff is more and I know her hobby is more.

That is why we get along so well.

My EX when we split up " still friends" so we can joke . when we packed her stuff up she had 2800 pairs of shoes/ boots. Now put a spread sheet to that!

Mine only knows how much I paid for the boat because she shopped for it with me.
But it ends there.
She works, has her own account where her check gets direct deposited. The only bill she has ever paid since the day we got married is her credit card bill.
I pay for everything else.
I don’t see her credit card bills, never ask how much they are and have never seen the bank statement from her account.
25 years of marriage and we’ve fought about a bunch of different stuff over the years, but I don’t remember ever having an argument about money.
It works!
 
I have the utmost respect for you guys that count the beans you spend on the boat and set budgets and forecasts and all. I don't have that gene in my DNA. We enjoy the boat so much that we have decided its gonna cost what it costs. I smile and just write that check. If I get to where I'm worried about the boat bucks we will get out and just drink on the back porch:(
Carpe Diem
 
I have the utmost respect for you guys that count the beans you spend on the boat and set budgets and forecasts and all. I don't have that gene in my DNA. We enjoy the boat so much that we have decided its gonna cost what it costs. I smile and just write that check. If I get to where I'm worried about the boat bucks we will get out and just drink on the back porch:(
Carpe Diem

Similar in some respects. I am uber anal in planning a movement of the boat. Routes, alternatives for weather, etc.

I am willing to pay to have someone else do the maintaining. I am capable of doing more myself, but prefer to smile, write the check, and then enjoy a cocktail I the cockpit.

I track, but don't do continual compilation, if that make sense.
 
I have the utmost respect for you guys that count the beans you spend on the boat and set budgets and forecasts and all. I don't have that gene in my DNA. We enjoy the boat so much that we have decided its gonna cost what it costs. I smile and just write that check. If I get to where I'm worried about the boat bucks we will get out and just drink on the back porch:(
Carpe Diem

Similar in some respects. I am uber anal in planning a movement of the boat. Routes, alternatives for weather, etc.

I am willing to pay to have someone else do the maintaining. I am capable of doing more myself, but prefer to smile, write the check, and then enjoy a cocktail I the cockpit.

I track, but don't do continual compilation, if that make sense.
 
Carpe Diem....don't get me wrong...it costs what it costs...those are just the figures.
 
Carpe Diem....don't get me wrong...it costs what it costs...those are just the figures.
Oh I get it Jaybeaux, there are times I wish I had the discipline to keep track of it all. I'm just afraid that if I really had good hard figures in front of me I would freak out, I know my wife would poop a brick! I'm sure I would be given a list of other things we could be doing with that kind of money. Ignorance is bliss!
 
Are routine costs of gas engines much different than diesels?

Some day I plan to request that the moderators of this forum create a "safe place" for gas engine boat owners. It's not safe to speak in public about the potential upsides of owning gas engines in any boat over 37' long here. You've been warned :):)
 
I have used quicken for over 20 years to track home finances so I know exactly what I have spent on boating vacations food housing etc. I don’t regret any of it but I am eyes wide open about what it costs. Full disclosure I am a CPA at a big 4 firm so it’s in my nature.
 
"...........................My EX when we split up " still friends" so we can joke . when we packed her stuff up she had 2800 pairs of shoes/ boots. Now put a spread sheet to that!"


That comment about shoes brings to mind this story:

When the 650 FLY was first introduced, one of the boat owners in our marina ordered one. He traded a 58DA for L650 hull # 4. His 58 was his down payment under the condition that the dealer had to remove, pack and ship all his personal to Sea Ray and in return, he had to let the dealer take his 58 immediately. One day, 2 yard guys showed up and started piling all the personal effects from the 58 out on the dock hand parking lot. About 2 pm the workers left and returned about 3:30 with about 100 U-haul cardboard boxes, they worked until I left to fo eat dinner. The next day, the marina guys returned and resumed the 58DA unloading. Ever, curious, I asked: "What what are y'all going to do with that stuff" these were yard guys but the responses to various questions was usually an uninformed humorous jab at the marina's management. Their comeback was, "We are supposed to ship it all to Sea Ray in Florida....but nobody realized how much crap there was gonna be.......me an AJ there will probably be in Uhaul truck bouncing down the highway just about this time tomorrow".

Skip ahead about 8 months........and I was talking to my friend Rusty Higgins, who was doing the Concierge Delivery captain at the time. He asked if I knew Mr "XYZ". I said "Not well, he isn't one of the favorite customers here......Why?" Rusty said, we all questioned the interior design the customer wanted which omitted all of the smaller stateroom furnishings. Sea Ray figured it was going to be for an office the buyer was planning to finish out himself. Then in another phone call some days later, Rusty said: " You know all those boxes XZY send us to put on his new 650? They are full of mens' shoes......about 1800 pair!" Turns out the entire stateroom was for a shoe closet for the buyer's shoes....not for his wife, but for the owner.

I guess it takes all kinds..........for me, one pair of dress shoes, one good pair of boat shoes and one recently retired pair of boat shoes I use to knock around in do me fine.
 
Last edited:
That comment about shoes brings to mind this story:

When the 650 FLY was first introduced, one of the boat owners in our marina ordered one. He traded a 58DA for L650 hull # 4. His 58 was his down payment under the condition that the dealer had to remove, pack and ship all his personal to Sea Ray and in return, he had to let the dealer take his 58 immediately. One day, 2 yard guys showed up and started piling all the personal effects from the 58 out on the dock hand parking lot. About 2 pm the workers left and returned about 3:30 with about 100 U-haul cardboard boxes, they worked until I left to fo eat dinner. The next day, the marina guys returned and resumed the 58DA unloading. Ever, curious, I asked: "What what are y'all going to do with that stuff" these were yard guys but the responses to various questions was usually an uninformed humorous jab at the marina's management. Their comeback was, "We are supposed to ship it all to Sea Ray in Florida....but nobody realized how much crap there was gonna be.......me an AJ there will probably be in Uhaul truck bouncing down the highway just about this time tomorrow".

Skip ahead about 8 months........and I was talking to my friend Rusty Higgins, who was doing the Concierge Delivery captain at the time. He asked if I knew Mr "XYZ". I said "Not well, he isn't one of the favorite customers here......Why?" Rusty said, we all questioned the interior design the customer wanted which omitted all of the smaller stateroom furnishings. Sea Ray figured it was going to be for an office the buyer was planning to finish out himself. Then in another phone call some days later, Rusty said: " You know all those boxes XZY send us to put on his new 650? They are full of mens' shoes......about 2800 pair!" Turns out the entire stateroom was for a shoe closet for the buyer's shoes....not for his wife, but for the owner.

I guess it takes all kinds..........for me, one pair of dress shoes, one good pair of boat shoes and one recently retired pair of boat shoes I use to knock around in do me fine.


To funny... we use to say that she had " isshoes" at our house at the time we converted one bedroom just to accommodate all of her shoes and she still jokes that the alimony I pay goes to her "isshoes" .
I on the other hand have about the same stock of shoes you do.
Maybe if you have the guys contact info we could introduce them and that would get me off the hook on the remaining term of the alimony.
 
I will chime in. A friend a long time ago told me, "If you have to worry about the cost of filling her up, don't buy it". I sort of took that to heart with maintenance and yearly expenses. If you have to worry about the upkeep, don't buy it. I am a little different scenario being I am fresh water in a covered slip....plus I do most of the maintenance myself (wash, wax, oil change, filters, impellers, etc...) The costs add up even for a do-it-your-self guy. The diesel oil, oil filters, impellers, and fuel filters are a small fortune. I guess my average is.....$2500+ per year barring any other issues like faulty pumps, hoses, or floats. I have a tendency to over maintenance my boat, if there is such a thing.

I sub out the bottom cleaning, which is done once or twice a year. My local guy charges $4 a foot, which comes to $200 per cleaning. Freshwater growth is not as bad as saltwater.

The Admiral doesn't even ask anymore about the cost. The fun and lifestyle outweigh her asking. Good luck with whatever you buy.

Keith
 
That comment about shoes brings to mind this story:

When the 650 FLY was first introduced, one of the boat owners in our marina ordered one. He traded a 58DA for L650 hull # 4. His 58 was his down payment under the condition that the dealer had to remove, pack and ship all his personal to Sea Ray and in return, he had to let the dealer take his 58 immediately. One day, 2 yard guys showed up and started piling all the personal effects from the 58 out on the dock hand parking lot. About 2 pm the workers left and returned about 3:30 with about 100 U-haul cardboard boxes, they worked until I left to fo eat dinner. The next day, the marina guys returned and resumed the 58DA unloading. Ever, curious, I asked: "What what are y'all going to do with that stuff" these were yard guys but the responses to various questions was usually an uninformed humorous jab at the marina's management. Their comeback was, "We are supposed to ship it all to Sea Ray in Florida....but nobody realized how much crap there was gonna be.......me an AJ there will probably be in Uhaul truck bouncing down the highway just about this time tomorrow".

Skip ahead about 8 months........and I was talking to my friend Rusty Higgins, who was doing the Concierge Delivery captain at the time. He asked if I knew Mr "XYZ". I said "Not well, he isn't one of the favorite customers here......Why?" Rusty said, we all questioned the interior design the customer wanted which omitted all of the smaller stateroom furnishings. Sea Ray figured it was going to be for an office the buyer was planning to finish out himself. Then in another phone call some days later, Rusty said: " You know all those boxes XZY send us to put on his new 650? They are full of mens' shoes......about 2800 pair!" Turns out the entire stateroom was for a shoe closet for the buyer's shoes....not for his wife, but for the owner.

I guess it takes all kinds..........for me, one pair of dress shoes, one good pair of boat shoes and one recently retired pair of boat shoes I use to knock around in do me fine.

I keep the older pair of boat shoes handy for washing the boat or working in the bilge.
At home, I keep the older pair of sneakers in the garage for washing cars and other grunge work.
My daughter pointed out to me recently that I was wearing two different sneakers. They looked close enough to me. Same brand, color, size, style etc..
I used to keep an old pair of imitation Crocs around for that kind of stuff but I think my kids threw them away on me.
 
I was blessed to have a Dad that was a great Mentor. I really learned a lot from him - he owned a machine tool business, was a pilot, owned a plane, and was an inland yachtsman. I turned out to be a mechanical engineer, pilot and boater just like him - I was Truly Blessed.

He always told me, "take the purchase price of your boat, and budget 10% per year for all expenses". His estimate has been real close with my 340, 410 and 58! Just sayin'...
 

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