Cost to maintain older Hatt53MY

[MikeP]

That's a good point re changes

Maintenance and changing things are two different issues. I recently re-floored the salon with Amtico because we wanted to do that, it was certainly not required for maintenance so it is not fair, IMO, to consider any such changes as part of maintenance since they are all "elected surgery." That includes "upgrading" electronics, or any other component.

I agree also re the dock queen thing. We used to take the boat out several times a week for "dinner cruises," plus trips every weekend. We also did regular longer cruises - a week or more. But that was when we were both working and our residence in NY was a 5 minute walk from the marina where we kept the boat. Now, although I'm on the boat as a live-aboard for about 2 months at a time, twice a year, we don't actually operate the boat much because my wife's job does not allow her to be on the boat for more than a week or 10 days for each of my 2- month periods. Sure, I could take it out myself and have done so but I don't enjoy cruising by myself at all so I only do it when I'm "testing" something.

[saltshaker]

Does that 10-15k include the slip/insurance?

To elaborate on our costs:
Our insurance is around 2500/year but that price will vary dramatically depending on where the boat is located. We are in the Chesapeake Bay in a covered slip. Covered slip rental fees in our marina for a 60 ft slip were around 7.4k/year when we moved the boat here in '06 but they can be had for considerably less now. I have heard - though not verified - that a 60 ft slip in the marina can be rented from a private owner for $4600/year. So if you added our insurance and, say 6k for the slip rental, our annual costs to own the boat would be around 10-11k USD.

Of course, the above is also based on not actually MOVING the boat, which requires fuel…

WOW that's a bargain! I guess location is everything. Up here a 60ft slip will run you 9-10K just for the summer, and it won't be covered. 1K per month was pretty standard for my 65 when I was in Fl and NC. You can do better but 1K per month is a good basis. You guys are getting by pretty cheap on maintanance. I spend more than 3K per year just for parts and supplies providing nothing major goes wrong. Keep in mind you can't average 3K per year and not include the years with major repairs. One AC condensing unit will blow that budget even if you do the work yourself. Unless you do all the washing and waxing yourself and pay no yard fees, you can easily spend 3K just keeping her clean and shiny.

[thoward]

$2-3k/year might cover the general maintenance but that does not include all the costs. There are years where you will have bills of $10k+. Risers, hoses, canvas, paint, coolers/heat exchangers, oil, filters, pumps, compressors, batteries, engine parts, upholstery, carpet, varnish/oil, bottom paint/repair.

We are in Fla with a 52C and to keep in a ready to use condition, costs about $20k/year(insurance, slip, general maintenance).

[rsmith]

Battery replacement is pushing3k just for the 32v I used to get 7 years out of a set now it's barley 5. That's at least$600/year I did have one year my charger went bad and cooked out 2year old set. You need to budget for the sh*#t happens costs too.

[GJH]

I'll say it one more time, as subsequent posts have served to illustrate: it all starts with and continues to revolve around what your standards are.

Also Rsmith and thoward nailed an important point on the need to calculate and reserve for the "sooner or later" items.

[MikeP]

$2-3k/year might cover the general maintenance but that does not include all the costs. There are years where you will have bills of $10k+. Risers, hoses, canvas, paint, coolers/heat exchangers, oil, filters, pumps, compressors, batteries, engine parts, upholstery, carpet, varnish/oil, bottom paint/repair.

We are in Fla with a 52C and to keep in a ready to use condition, costs about $20k/year(insurance, slip, general maintenance).

But this gets back to the idea of how much maint the owner can do. Many of the items mentioned above are not expensive as far as the parts needed to repair/refurbish, whatever. It's the LABOR cost that makes an $80 hydraulic pump refurbish into a $5-600 pump refurbish or the $200 charge for new waste hose into a $1500 charge for installing it.

I certainly agree that there has to be money set aside for unforeseen expenses but my point is that boat maint can be fairly painless IF the owner is willing to do the work. For me, I enjoy doing it; certainly others feel differently and that's part of the equation.

[dastahl]

I like to read these threads. Whats the budget? My two cents.
One of my mentors said to me "I spent all my money on boats and women, the rest was wasted."

A 53 MY will require expenses some of which are large like $10K or $15K, every once in while, on a bad day. You can figure out the monthly costs of insurance and slips and such. But do understand that some of the equipment on board a 53 can cost big bucks to repair. gen sets die, engine suck in valves transmission quit. If you can't cough up $10K every now and again you should pass,

But wait, swinging on anchor in a pristine cove in the evening with a slight breeze from the southeast and fair forecast sipping an adult beverage with the grand kids asleep in the vee after a swim off the boat, well thats really difficult to price out.

Skooch

[Walter P]

I will "conditionally" agree with Mike that if an owner has the time, skill AND stamina to do most or all of the "Maintenance" , not counting unplanned stuff such as batteries etc., then the cost is pretty low. For many years I did just about all of my own mainenance, but as I got older it became more and more like hard work. Now at 77 I try to contract most of my work out and I am damn frustrated about it. It is very difficult to find reliable folks to do even simple jobs in my area. I envy Bobk who has a sistership to my Series 1 48 MY (1982). He seems to have the skill to find great people who do good work on time at agreed prices. An example was that this spring, after spending all winter on the hard, 2 of my 8-D batteries bit the dust..probably because someone kept unplugging the power cable. Although the 2 subject batteries were only 2 years old, I had the yard replace them....My charge was $300 ea X 2 = $600 plus $300 labor to install..total $900 for two batteries that were only changed 2 seasons ago. If this were 10 or more years ago I would have purchased the batteries for much less and installed them myself. My point is as Mike explains is that your costs don't have to be astranomical but you need to be aware that you probably won't/can't do it all yourself.

[lumina]

Hi All,

This is kind of a general thread that I’ve sent to others who are searching for a boat. It conveys the things I took away from my experience, and speaks to fixed and incidental costs. It’s re-worked and added to each time I send it. Hope you folks in search mode can benefit from it.

First and foremost, you have to LOVE it, whatever boat you buy it needs to become a love affair and then a marriage if you can appreciate the analogy. The love affair gets you through the search and the purchase and the refit phases (you need a lot of passion) and the marriage sustains you through the ownership years when you nurture it.

Also, you really need the full support and buy in from your significant other. Really talk through what this commitment means in time and money which is no longer available for other things.

You need to research closely all of the different types and models and floor plans Hatteras offered and hone in on what you think fits your planned use, but be open minded as you look at boats. Take special note of prices and options. This data can help you during the negotiating process and final analysis.

When I was growing up my dad owned a 1974 Yachtfish. I loved that boat and spent many many happy years in the waters of the northeast.

I started searching for a 1974 48'9" Hatteras Yachtfish with the three stateroom layout and 8V71 natural Detroit's. After months of extensive research through many many different search vehicles I found an extremely original classic. It was owned for 10 years by an older couple (early 60's) who had taken very good care of the boat as best they could as time, money and health permitted. The minute I stepped into the helm station I knew I would buy this boat no matter what they asked. I paid the man what he wanted.

I had an extensive mechanical and structural survey done and it turned up a handful of things as well as some typical Hatteras non-issues such as several blisters, a couple of separated tabs etc.

Surveying IS ESSENTIAL TO ANY PURCHASE and is worth every penny it costs. It’s probably the most important thing you can do in the purchase process second only to finding a GOOD, ROFESSIONAL, KNOWLEDGABLE, HONEST, ACREDITED SURVEYOR(s). It may require more than one ie one for the hull and structural components another specific to your power systems etc. Also you need to know what type of survey is being done and to what degree. (ie what’s included and what’s excluded), how deep does the investigation go? (Compression test on the engines etc)

Don’t go with the brokers (I know a survey guy) recommendation. Independent and vetted is the only way to go not only for surveyors but anyone you hire to work on or evaluate anything related to your boat.

As Rob said in his response ASK QUESTIONS….of the broker, the seller (if possible), yards that may have serviced the boat, the marina where it was kept et. Ask the HOF if anyone knows of the boat. Ask what certain language means for example on my survey many things had a condition of “powered on”, I ASSumed that meant they were in working order…..not the case. Maybe there are technical or boating terms you might not know or systems and concepts you might not understand. Educate yourself.

Look for some of the obvious signs of a poorly maintained boat ie is the engine room is a discombobulated oily mess, the bilges are filthy, there’s water in the bilge, the racor filters are filthy or contain water, there are signs of water leaks around the windows, the bright work has been abandoned etc.

Don’t be afraid to ask the broker for help with the seller and for getting answers to your questions, that’s a big part of their job.

Sea trial the boat and don’t be timid about putting it through its paces and exercising the engines and other components (synchronizers etc.) Pilot the boat yourself, see how it feels. Ask to see systems in operation. (air conditioners, oven, alarm, etc as many of the things listed in the sales listing.

If you’re purchasing long distance you will have to be much more involved with the process, going to the boat a few times or you could pay someone onsite to oversee certain things.

Realize that no matter how clean the boat is you’re going to be putting say 10-25% of the purchase price into it year one. (Interior decor' exterior cosmetics, gadgets, toys maintenance, upgrades).

Once the sea trial is done and once the surveys are done you’ll be presented with a list of issues usually broken down by category ie serious etc. You need to take these to the seller and negotiate whether they will repair prior to purchase or whether a price reduction will be used as an off-set.

Since I purchased my boat I've probably I’ve spent appx 200K on upgrades, aesthetics and maintenance,……and I DON’T regret one cent. I love my boat. When I step aboard I'm happy, I love her classic lines and traditional feel (vs an Italian villa). I even love her 34 year old laugh lines. I never tire of working on her it's a labor of love.

My biggest take away from this whole experience is don't blindly trust everyone in the boating industry, there are lots and lots of really shady people out there ready to take advantage you and your money. We learned this while preparing to leave FL and all the way up the east coast. (NO offense meant to those of you out there who have integrity and are honest, knowledgeable professionals, thankfully we found many of you along the way as well)

Another thing many folks don’t pay enough attention to is perpetual costs; they can't be ignored or minimalized. If you don’t properly take them into account you may be able to buy the boat but not run it.

I run around 17 or 18 thousand dollars a year to keep her in really good condition (not Bristol), just properly maintained and cared for. Making her better is an add-on to the perpetual costs ie some new gadget, new electronics or making her cosmetically and visually better.

Example of Perpetual Costs: (appx based on a 1974 48 YF in the north east)

Slip fee - $5200
Insurance - $2100
Haul out and storage $1900
Shrink wrap and winterize both engines, water systems and generator - $1800
spring commission - $1500
Diesel - $2800
State, local and federal fees/taxes - $800
Maintenance - $2500

Many of the things on this list are obviously different by region of the country.

If you’re a do it yourselfer you can mitigate some of these costs, unfortunately I’m not. I’m not clueless by any means, I can understand what’s wrong and what’s needed and how to fix it but I wouldn't attempt anything other than small stuff.

If you're going into any Hatteras but especially a Classic Hatteras you need to fully understand the perpetual costs, (which plus your mortgage and enhancements is really your TCOO).

Also, realize that most yards today and probably all yards in the near future will NOT let you work on your boat in their yard if they provide the service required. ie If you need to grind some fiberglass and apply a repair, even though you are fully capable of doing this if the yard provides fiberglass services they are going to deny you the opportunity to do it yourself and force you to pay the yard to do the work.

Also realize that a yard may not provide a service such as marine electronics however they may have a reciprocal arrangement with a third party. In that case again they are going to deny you the opportunity to do it yourself or of hiring your own technician and force you to use the yards third party. The third party inflates the bill so the yard gets a cut.

I keep a running detailed plan of everything that needs to be done or that I want to do to the boat even the smallest thing. I research the cost and I re-prioritize the plan constantly against available funds and resources.

I still miss the numbers by 20%. (over)

Realize that quality services with solid references are hard to find but well worth the money!

Don’t be timid about challenging a bill or questioning work that was completed. If the person is a professional they will welcome this inquiry in a constructive way and you’ll feel glad you asked. In my experience, if a service provider immediately becomes defensive and cops an attitude he was a bad choice and you’re probably in for a protracted unpleasant experience.

If you’re lucky enough to find a really knowledgeable person to partner with or befriend, it makes a huge difference. What I mean by that is for example in my case I have two close family members who are life long mariners who are extremely knowledgeable in all aspects of boating from navigation, to engines and systems, to fiberglass repair.

I asked them to bring the boat up from FL for me, I paid them a reasonable fee and let them tootle around the Caribbean for a week or so.

Today they’re there whenever I need them for maintenance & enhancements, anything. As partial payment I let them use the boat for a weekend or a few days whenever they want.
I love these guys!

It’s also extremely advantageous if you can find a college student with a good attitude, a good work ethic and some skills. They provide an invaluable service when it comes to laborious maintenance etc (waxing the boat, cleaning, bright work etc). Ask me how I know (I have one).

And finally ENJOY your beautiful boat. Learn something about it every day. Strive to make it better every day, DO the proper required maintenance, this will save you THOUSANDS of dollars.

Good Luck

[Nightingale]

The main thing I don't get about threads like this, any 53' boat will end up costing a lot of money to maintain and keep at a dock or store. The fact that it's a Hatteras doesn't mean anything. Most 53' boats these days have way more complex systems than any 1970-1988 53 Hatteras does. Like stated earlier in this thread, there's maintaining and there is replacing. If replacing because you want to update or add something, you really can't say that is the benchmark for a budget to own a 53 Hatteras.