New boat ownership cost ?

Knot It said:
Here is mine on a very conservative estimate for a 2001 340. I did the primary numbers and wanted to cringe........ borken down by annual cost of JUST OWNING HER:

Annual cost
Wet slip: $3465.95
Insurance: $676.00
Property tax: $1550+-
Winterizing: $700.00 (with fuel fill up) $225 +- without (Done your self)
Payment: $7056 ($588 month x12)
maintenance +-$500 per year average if you do it your self
EQUALS: $1162 per month average

Now add
Weekend supplies$150+- (per weekend-beer/liquor, snacks, food, restaurant/bar tab)
Gas $200 +- per month

If you want to puke, break that down by hourly cost of use per season.
Click to expand...

I'd strongly advise not breaking it down, unless you've had a few drinks first :)
 
hollywood said:
How much would i spend living in the north east from May to September ( 5 Months ) on owning my first Sea ray 1999 270 Sundancer 7.4 Merc….The wife needs to know ! Please help
Total please
Click to expand...

At our club the boats UNDER 30' are subject to lower rates. Don't let the yearly costs scare you off. You can always trailer a 27 footer and launch and retrieve it by yourself. When we still had mortgage and kid debt, and couldn't afford moorage, we would launch the boat on a Thursday evening and anchor it in a sheltered bay for the weekend. In the summer we could wade out to it and when the water got colder we used the dinghy. I would get up a bit earlier on Monday morning, when the launches weren't busy, and retrieve the boat before I went to work. It worked for us back in those days but we did live within a few miles of the launch and had lots of parking facilities at our house. One of the greatest things about that arrangement was the fact that I didn't have to go anywhere to work on the boat and I could have the shore power plugged in to the house all the times. Saved about $3000.00 per year just in moorage. That didn't include trips to the lounge/restaurant and tips and ice and valet service and extra insurance because it was moored, and parking for the weekend etc etc. Our bottom coat lasted longer too and there wasn't the usual build up of gunk on the hull. I'm sure you could tow a 27 footer with an average type pick up truck too, without having to go out and buy a 1 ton, diesel powered dually 4X4. I towed ours with a heavy duty 1/2 ton Chevy, but I don't know if it was legally rated for the 7000 + pounds or not. Boating is a very healthy life style and shouldn't be avoided just because of cost. If a 27 footer turns out to be cost prohibitive, look for something smaller. JUST GET OUT THERE!!!!!:thumbsup: Good luck.

PM me for other ideas if you like. When we lost our jobs and our house back in the early 80's, we still had some sort of a boat!!!!!!
 
Last edited:
Knot It said:
Here is mine on a very conservative estimate for a 2001 340. I did the primary numbers and wanted to cringe........ borken down by annual cost of JUST OWNING HER:

Annual cost
Wet slip: $3465.95
Insurance: $676.00
Property tax: $1550+-
Winterizing: $700.00 (with fuel fill up) $225 +- without (Done your self)
Payment: $7056 ($588 month x12)
maintenance +-$500 per year average if you do it your self
EQUALS: $1162 per month average

Now add
Weekend supplies$150+- (per weekend-beer/liquor, snacks, food, restaurant/bar tab)
Gas $200 +- per month

If you want to puke, break that down by hourly cost of use per season.
Click to expand...



Can't help but ask WTF is the $1550 "property tax" for. That is outrageous. In Mass the "excise tax" on a boat like yours would be $100-$200. Ct citizens need to get together and revolt. Any other states have outrageous "property tax" like Ct.??

FWIW the single biggest cost of boat ownership is usually the depreciation. The newer the boat the more the depreciation per year.
 
Some states have personal property tax assessed on vehicles and other assets depending on the particular state. It's possible that is what Knot It is refering to.
 
I am in CT and there is no personal property tax on my 30'. Just reg every year which is about $130.00.


Sent from my iPhone using Tapatalk
 
Knot It said:
This is correct, it is Missouri Personal Property Tax.
Click to expand...

Their not boat friendly. Is that annually? Where does that revenue go? That seems really high.
 
There are way too many variables to give a general number.
Marina? Mooring? Working Boat Yard? Yacht Club? Someone's backyard?
Where will you store for the winter? Can you do the winterizing yourself (It's easier than you think)?
Trying to keep the boat in NYC itself will me a but more expensive than keeping it in one of the suburbs and driving back and forth to it.
 
rcknecht said:
Good estimate near NYC, for a 270, would $10K
Slip: $4K
Fuel: $2k
Maintenance: $1-3K
Winter Storage and Winterization: $2K

Tell your wife a boat cost less than a Mistress...
Click to expand...


...my wife would ask me " And just HOW would you know that ??" :smt013

Reminds me of a joke about a guy who was asked how much money it took to own a boat (or plane..): His reply ? "Why, all of it, of course !"
 
Maintenance is a big item. Some years it is low some it is high. We budjet 5,000 a year. Some years it is 2,000. This year it will be 15,000 to 20,000 then it should drop to 2,000 for a few years. If one can not put 3 to 5,000 a year into a fund for their boat they probably can not afford it. The old adage if you have to ask what the price is you probable can not afford it seems to be very true about boats. Some years we feel like getting out but then what else can do with their money that is as fun as boating? The 28 footer we had we budjeted 3,000 a year for maintenance and that seemed to work. We replace manifolds, had fiberglass work done, replaced carpet, replaced counter tops, had props rebuilt, rebuilt one drive. In the end the next item was going to be new engines so we sold it and got the present boat.
Do you plan on living on the boat full time? If yes I feel it is too small.
 
Being realistic, with slip fees, winter storage, regular maintenance, fuel, and incidentals you are going to be near $15,000 or at least double what you are estimating.
 
blaster said:
Their not boat friendly. Is that annually? Where does that revenue go? That seems really high.
Click to expand...

PPT is paid annually and is determined by the NADA values. We pay it for cars, trucks, motorcycles etc.
 
This was a good exercise for me.

Annual costs (April through October)
Payment - $5436
Insurance - $672
Slip - $2100
Gas - $1500
Winterize/Dewinterize - $450
Maintenance/misc - $1000
Total: $11,158
Break it down by hour - 283 hours over 9 years = $354.85/hour. Of course this doesn't take account the countless hours with the engine off, floating in a cove or have cocktails at our favorite on water restaurant...ahhhh.
 
You must log in or register to reply here.

Forum statistics

Threads
113,187
Messages
1,428,218
Members
61,099
Latest member
Lorenzo512
Back
Top