Expensive Hobby

guys why are you answering "if you have to ask, you cant afford it"
this type of answer seems "I have money and you dont don bother me, and dont have fun."
I have seen alot of you saying fuel cost is outragous. I am geting really dissapointed with the quality of attitudes here.
dont get me wrong most of you guys are great and help anyway you can.yes some of us pinch pennys so we can enjoy our boats but dont tell us that since we dont have million dollar toys or dont have 2 or three homes that we can afford to enjoy the water. If you have useefull information about the topic then thanks for posting if not then dont post these stupid comments.
ill get off my box now
flame away
 
It could be hazzardous to your health and well being to itemize all the costs. I have a 1993 Mainship 40'Sedan Bridge. I am basically building the boat the factory could not because the technology didn't exist at the time the boat was built. I'm talking engines with ECM's digital controls, transmissions with electronic shifts, networked electronics, new windless, new radar arch, replaced all communications equipment, all appliances in the galley, head, entertainment systems including a 26" & 15" 12vdc flatscreen TVs, all LED lighting, 2500 watt inverter system w/ 2000 remote, charging systems and solar.
Slip fees $3500.00
A tank of fuel $852.50 (last summer prices)
Yearly maint. set aside $5000.00
Insurance $1450.00
Other fees Direct TV, Sat-phone Globalstar, EVDO Internet, Dedicated cell#, SIRIUS, XM/WX service
$5400.00 a year
$1045.00 monthly boat payment

The upgrades mentioned above were not financed.
Future upgrades I would love to have a hardtop with the bridge enclosed with Lexan type glass and fiberglass (not canvas like the current top), but I need a good 3D designer for concept drawings.
Repaint the entire boat possibly Awlgrip.
 
I'm going on year 11 for this boat. Most of the restoration cost is over and the current maintenance expense include jobs that I can average out over next five years. I'm not including the insurance premiums or the occasional impulse buy from BoatFix.

Annual cost:

Payments: Paid for.
Tax: Exempt. It's over 50 years old.
Covered slip: $2500.
Dockside electicity: $125
Maintenance and improvements: $1500
Depreciation: Huh?
BoaterEd subscription: $17
Bay and Delta Yachtsman subscription: $15
Fuel: 160 gallons at $4.00 per gallon (4.5-6.0 GPH) $600

annual total: $4757 (not including insurance)
 
payments, insurance, slip & operating costs approx. $27k projected for 2007. We anchor out 2 or 3 nights every week and makes runs from Tampa to Sarasota Bay every other week.

Exterior, mechanical and electronics upgrades and repairs in the past 60 days approx. $30k.

Planned interior improvements in the next 45 days approx $10k.

Honestly, this is the most fun I've ever had outside the bedroom and the most relaxed I've ever been. I would have paid/spent more.
 
Between slip, insurance, maintenance, bait, tackle, equipment, and running costs - I figure on 20K annually.
 
I keep the boat on the trailer in the back yard. I register the trailer once every 3 years.

With Child Support, a mortgage, etc etc, I can only manage a 25' trailer boat at this time.

Even so, the boat is a 1988 and I've had to replace the sanitation lines, head, outdrive, carb, refrigerator etc etc etc.

Mounting_devices.sized.jpg
 
1985 32' Carver - All expenses including payments over last 12 months $9216.10. Wife thinks 5k to 6k.
 
This is NOT healthy!! But, here goes..

Slip $6000
Insurance $7200+
Fuel $3500 last year
Boat $35,000 +
"Accessories" $20,000

There is nothing smart about this. It is simply what I enjoy doing with my life. I know others that get a lot less for their money. Lets not dwell on this.....

Addendum: One of the reasons I'm doing this now is so that I will have the skills I need when I retire so that I can be a long distance cruiser/diver. This is a "skill investment"
 
quote:
Originally posted by reorx

guys why are you answering "if you have to ask, you cant afford it"
this type of answer seems "I have money and you dont don bother me, and dont have fun."
I have seen alot of you saying fuel cost is outragous. I am geting really dissapointed with the quality of attitudes here.
dont get me wrong most of you guys are great and help anyway you can.yes some of us pinch pennys so we can enjoy our boats but dont tell us that since we dont have million dollar toys or dont have 2 or three homes that we can afford to enjoy the water. If you have useefull information about the topic then thanks for posting if not then dont post these stupid comments.
ill get off my box now
flame away

Click to expand...


Come down off the ledge buddy! Really, there is a point of view in which that seeminly calouse response is actually appropriate. Many people buy boats with the idea that its one time purchase kind of deal and don't factor in the fact that the monthly outlays are large and often variable.

Obviously Brian the original poster is trying to get a gauge on this and that's good. While calouse, its not wrong to suggest that if your on the fence as to whether the continous outlays are worth it, just maybe that's the answer the questioner is looking for.

Personally, I've had a boat since before I could really afford something substantial. I just chose a smaller or really more inexpensive boat to start with.

Not everyone's values would allow them to start with something not so great and would rather take a Disney Vacation. Personally I think they are wrong, but not everyone is supposed to agree with us.

No problem. It's not a big deal really.

bp
 
I figure about $30k a year between payments, insurance, winter storage, spring prep, basic maintenance and fuel for my 38 Blackfin. I live on the water so no dockspace charges. Major equipment purchases or mechanical work would add to that number, might be closer to (or over) $35k some years.

It can be an expensive hobby, but it can also be done more economically. When I was in my teens and early 20s my father had a 19' boat. Kept it on a trailer in our yard during the winter, no storage fees. Basic liability insurance was cheap, only held 18 gallons of fuel and that was more than enough for all day on the water. Probably cost less than $2k a year for everything, that number might even be high.
 
Average yearly expenses:
26'8" Crownline
Gas approx $2000
Mooring $1400
Insurance $800
Winterize,Storage $2300
Dewinterize $700
Misc Maintenance $600
Total $7800
 
If you're worried about it, join a boat club and never finance a boat.
Slip plus elec plus annual dues: 510
Winter storage: 210
Insurance: ~1000
Winterization and annual tuneup parts: ~400 (probably much less)

Total annual cost is just over 2k.

This is a very timely discussion as we were at a friend's "lake home" a couple of weeks ago. He paid $210 for a two bedroom. Taxes are $5k plus dues for the pool/clubhouse, etc is another $1k. Similar to a boat, they have no TV and use their cell phones. So their only other costs are electric, heat, water, trash. But,,,their house doesn't move, the lake is a bit small (IMHO) and they don't have waterfront. What's worse is, if you think a plastic boat is maintenance, go visit a house in the woods. I would never be able to relax there, I'd have to re-do the bathrooms, the deck needed repairs, everything needed a good power wash and staining/painting, etc.

Other than the fact the house appreciates while boats depreciate the boat wins hands down in my book. To each his own.

As far as "if you have to ask"...."if you have to ask, get yourself a smaller boat...I had lots of fun with an older trailerable"
 
quote:
Originally posted by abalmuth

R U crazy?
Put this in writing!
No Way

Click to expand...


Andy,
I am with you on this one. I mean, what is the point in asking a drug addict what they spend on their addiction when they do NOT want to quit??!! Same thing for me!!! ;)

But...I guess my 33' cruiser has cost me probably $15-20k. Heck, i think my 2 weeks on the TN River last summer cost me about $3.5k in fuel, transient slip rental, food, etc. etc. etc.

Don't forget everyone...you really ought to factor in annual depreciation to your costs!!!
 
Figured it out a couple of months ago just for sh#$s and giggles, looked at the numbers and said, "Hey, it was worth it..." Motoring on...
 
PURCHASE COST:

2003 Tiara 3100 purchased in Sept. 06 ...200K
Mechanic survey...$350
Hull Survey...$350
Mechanic and Hull surveyer at sea trial...$750
Documented vessel transfer...$350
Haul out for survey (30 minutes)... $350
California Transfer title to dingy...$10

OPERATING EXPENSE (Since Sept purchase :

Slip in Newport Beach, Calif....$750/month
Diver to clean bottom.....$45/month
California personal property tax ...$1,800/year.
Wash boat 2 X month....$50/visit
Wax boat....$500
Insurance.......$1,800/year.
Mechanic.......$100/hr
Average West Marine purchase/month....$200.
Fuel cost per month....$600/average
New flat screen TV....$850
New switches for shore power...$287
New Tiara horn (I installed it)...$180.
Diver to replace zinks.....$65
30 Amp Y splitter...$250.

etc., etc., etc.

My wife and I have a "Clinton understanding" in our marrige of don't ask and I won't tell how much the boat costs per month.

I am afraid to add it up but rough guess is 25K/year and I paid cash for the boat.

Use and enjoyment of the boat....priceless
 
Thanks, guys! I feel MUCH better about my other hobby now. The trick is choosing priorities wisely. Drive a junk car, have a great boat. Dress shabbily, eat thin soup, fly a fast little airplane. Besides, have you priced psychiatry lately?
 
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