Annual Costs of Ownership - rough figure

[crowleykirk]

I know, a loaded question. And I've searched the data base.
And I found this calculator that has scarred the crap out of me🙂 https://www.sailo.com/calculator

Assuming in water all year, R27 etc, moorages, insurance, fuel, maintenance safety, parts, cleaning, paint etc....
Most travel around the San Juans, one yearly Canada-Alaska trip. Maybe we leave that out for now. I see that as a separate budget and a high one.

I'm figuring $20,000 - $30,000 a year, depending on fuel. Without all the details because there are obviously so many variables associated with the question... have any of you figured your ROUGH annual costs? We plan on using our boat all year or close to all year.

We are moving forward next season with selling out home. Trying to budget the new home and used Ranger into the mix.
I'm trying to budget $150,000 to $175,000 for a used Ranger.

Thank you for looking at the post🙂

 

[Red Raven]

I think 10% of the boat value is a pretty good rough number for annual costs (not including financing or or amortizing the purchase price of the boat). It is going to vary depending on how much you do yourself and where you keep your boat.

 

[scross]

Try searching on “annual costs” for a number of prior threads on this subject.
Here’s what a Cutwater 28 owner (Cutwater28GG) said -

Postby Cutwater28GG on Wed Jul 11, 2018 10:53 am

just for reference here's a rough breakdown of my maintenance costs on a cutwater 28

Moorage $3500-6000
engine $1000-1500
general replacements/new purchases $1200
insurance $800
fuel about $2000
Bottom paint per year (/3) $700
Zincs $300

About $12.5K a year.

others should chime in with theirs or if I have missed something!

 

[crowleykirk]

Thank you guys for the reply.

I missed the Cutwater post... good info.

So I think I'm pretty much right at my marks maybe to the high side but thats a good thing. Ii think I can sell that to the misses🙂

My 20K plus number leave room for unexpected costs and maybe some for additional trips but I would weigh anything for than a week as a separate budget.

I think it's going to be doable.

Any other comments are greatly appreciated.

Again, thank you,

Kirk

 

[Chimo]

I have kept track of costs pretty well over the years and the Cutwater numbers are pretty comparable for our R25 SC kept in a boathouse and used year round, 120-130 hours running time. Ours are around $10,000 US (we are in Canada) probably because things like oil change and bottom paint are DIY.

 

[BradOwens]

Our annual expenses for the last three years have been 9 to 10 thousand a year, not including the payment on the loan. That includes insurance, covered moorage, an annual state park mooring permit, US Customs permit, routine maintenance, a few repairs, and fuel for our cruises around Puget Sound, the San Juan Islands, and Canadian Gulf Islands. This year we are having the bottom repainted by a professional boat yard, and will still stay within $10,000 for the year. That's a pretty good number for the amount of joy we get out of the boat!

 

[scross]

There are ways to keep the annual cost way down. You mentioned keeping the boat in the water full time but, if you were to trailer it between uses, you can cut the moorage+storage costs to under $1,000 a year or so. Ours sits in the driveway during the off-season plugged into garage shore power. Trailer expenses add about $300 a year.
Also, you don’t need a diver to do the zinks so often. My zink bill is less than $100 a year. I bottom painted this year for about $200 in materials plus 20 hours of my own labor.
I do as much routine maintenance as I can based on the philosophy that I can screw the easy stuff up at about the same rate as your average boat yard mechanic.

 

[crowleykirk]

Wow, great comments. If I could get the annual down closer to $10,000 - $15,00 that is great.
I'm a certified diesel tech on yachts from when I was younger so if I can reach it I can probably fix it🙂
I'm also a diver but it's been awhile, I'd probably pay for dive work when needed and there is always the bottom cleaner at the marina etc... I will look into some dry suits and scuba gear though, be nice to at least be able to fix a problem if needed underway. I'm not getting younger so that is a consideration though.

I like the ideas of pulling out some of the year as well. But I am hoping to use most of the year.

Sounds like it's not to bad considering the joy you get out of your vessel. I'm hoping if I find a good used Ranger the previous owner will have it kitted out pretty good so I don't have to buy are the gear as if starting from new. Of course there are plenty of things I'd want to do and plenty of items to purchase.

Thank you so much for all that chimed in, I actually just told the wife, she said hey, that's not bad... score...thank you Tug Nuts🙂
Hope to see you on the water next year. Really appreciate the friendliness here even for someone that doesn't own their tug... YET🙂

 

[Cutwater28GG]

You will never spend 20-30K+ a year. Moorage will be your biggest cost.

*unless you are attempting to troubleshoot an overheating engine like one of our fellow members.

 

[Chimo]

Our annual expenses for the last three years have been 9 to 10 thousand a year, not including the payment on the loan. That includes insurance, covered moorage, an annual state park mooring permit, US Customs permit, routine maintenance, a few repairs, and fuel for our cruises around Puget Sound, the San Juan Islands, and Canadian Gulf Islands. This year we are having the bottom repainted by a professional boat yard, and will still stay within $10,000 for the year. That's a pretty good number for the amount of joy we get out of the boat!

I actually started a thread on the trailer vs moorage question a while ago. Interesting. 😉

 

[Carter7]

No better idea about the cost. But I would like to know about the annual cost. Thank you!

 

[tugnnaweigh]

Here’s how to make owning a boat absolutely free!

You just avoid the typical expenses inherent in boat ownership which will allow the retained funds to more than cover all the costs you can’t avoid!

Loan interest payments and insurance costs are unavoidable of course, so remember to use the interest paid as a tax write off if applicable.

Then keep the vessel where there’s no charges, perhaps a trailer at your home and do all your own maintenance and repairs.

These savings will also more than cover all on the water expenses making operating a boat free too!

The wife doesn't buy this one bit of course but it’s how I roll!