What are your average annual maintenance costs?

[Tonka Boater]

The $5k I just spent on canvas doesn't count because it was an upgrade.... switching from fastback to full camper back, not maintenance.

I count everything whether its an upgrade or not. If I didn't have a boat then I wouldn't have had the expense for the upgrade.

My expenses are about 15% of my value. I know this because I use an app called Boating Suite so I know exactly how much I spend

A lot of my expenses were covered under warranty last year and I did most of the rest myself which saved me a lot.

 

[endless seas]

Appx. $1200 to $1500 depending on engine hours service requirements.This includes winterizing.Learn as much as you can and $$$SAVE.

 

[douglee25]

Not including insurance or slip fees... My costs on pure maintenance are about $7-10K per year. That is bottom work, hydraulic platform, engines, etc... I'm on my 8th season... and I'm in about $63K on "maintenance." Much of it is DIY.

Somewhere I read that owning the boat is about 20% of the boat's value per year (fuel, insurance, maint., slip, etc.).... and that has held fairly true with us. The first few years were far more expensive than now.... life raft, dinghy, and many other "one time" costs... Lots of stuff is now reused but the value has come way down.... and so the 20% number seems to still be working... Fuel has always been the cheapest item.... even when it was $6/gallon.

Are you saying maintenance costs 20% of the boat's value over the lifetime of ownership or per year?

Doug

 

[BahamasBlair]

If I ever figure it out I would probably stop boating!
Whatever it is, is way too much for the number of hours I'm on the boat.
Not the best investment I've ever made - BUT TONS OF FUN!
Enjoy yours too.

 

[wvsundancer]

this is such an openended question.. if you count haul-out- winterizing, re-commission in the spring and not my time cleaning/waxing then it runs $1600.00 cout in winter storage/ dock fee's ? ware and tear - new cockpit carpet this year $4,000.00 for a 280.

 

[Turtlesboat]

Are you saying maintenance costs 20% of the boat's value over the lifetime of ownership or per year?

Doug

Not just maint, the cost of ownership which includes maint. 20%/year. I think that figure works for the mega yachts too.

 

[comsnark]

There are some very big variables that makes maintenance something other than "one size fits all".

I like the 20%/year "round number"; but even that is deceiving considering that the method of financing the boat (paying cash or a 10% loan) factors into the cost as well.

Biggest factors in my mind;
1) Gennie or no Gennie?
2) One engine or two?
3) Diesel or gas?
4) Salt or Fresh Water?
5) Stored in water or air?
6) Winterized or year round?

I am glad people include the canvas as an annual allotment. How about bellows and rubber goods on an I/O boat? Does anyones numbers include the occassional exhaust / riser replacement for salt water use? The occassional salt water induced repower?

Last I looked. . .my salt water stored boat runs in the $3-5K range annually. I make a point not to look at the numbers too closely.


I could have significantly reduced the costs on my Salt Water Stored boat if I installed a boat lift. But the lift (installed) would have been significantly more expensive than a repower job. Of course. . a lift would have also been a capital improvement for the property where it sits, and not a strict "boat" expense.

 

[Warren]

Average annual maintenance costs?

There is no question that fresh water saves $$ on maintenance, but it's still signifigant. Average annual costs: Summer dockage/winter storage/shrink wrap $3500; oil, parts (filters, impellers), misc., $1500; extraordinary costs (special projects, labour, gelcoat repairs, etc.) $1500.

I also do my own repairs and maintenance including bottom work. Other costs such as fuel, insurance, entertainment, improvements not included. Yes, you MUST love boating to play this game!
Warren

 

[jrock1062]

I have a small boat and do everything myself including keeping it in my back yard for the winter so that has saved me money. This is the first year I own the boat so I changed all the fluids,impeller with the housing, plugs,belt,fuel filter/water separator, bottom paint and that doesn't include assorted things that needed replacement. Total cost so far on that alone with having it dropped in was $1300.00. Then i spent another $2300. on electronics garmin unit through hull transducer and fuel sensor ( w/ instalation I couldnt bring myself to drill the hole) also add a new VHF radio and antenna

 

[Lightning]

Hi

My anual maintenance cost are about $100.00! Fuel filters, spark plugs, oil filters and winterizing anti freeze! Aircraft wax (3M) works great, very strong shinny finnish that usually last the entire season. Generally runabouts should only cost about 100 bucks for general maintenace once the boat is established..

Lightning

 

[Four Suns]

Hi

My anual maintenance cost are about $100.00! Fuel filters, spark plugs, oil filters and winterizing anti freeze! Aircraft wax (3M) works great, very strong shinny finnish that usually last the entire season. Generally runabouts should only cost about 100 bucks for general maintenace once the boat is established..

Lightning

yeah.... no need to worry about that outdrive...