Understanding Costs of Ownership

[stormchaser]

I wish I had Jerry's problem....lol.

And yeah, you're right...I'd hate to have his problems. haah! He own Herson's Honda/Acrua here in MD as well as the marina. I grew up at Mears where he used to keep her and he's actually a really nice guy. He never got involved in SRYC but he was certainly friendly enough.

 

[bobk]

On these older boats, you need to PLAN on having one big surprise a year. On mine, I had spray rail leaks the first trip south (11K), rotted exhaust elbow on the second, and now a siezed AC compresser. Of course none are easy fixes, so labor dollars mount. I'd allow for 5-6K per year.

Bob
Chateau de Mer
1981 48MY

 

[Genesis]

I considered the generator and exhaust systems as "mid-size" surprises.

A major (or two!) would be a "big surprise."

This much I can tell you with certainty - if you're not prepared to handle mid-single-digit thousand-dollar surprises on a somewhat-regular basis (at least every couple of years, and quite possibly more frequently than that) you're going to QUICKLY find yourself in over your head with boats of this size.

 

[stormchaser]

Yeah, you need to be prepared for the unexpected. I had a $15,000 suprise less than 90 days after buying her. Not a happy moment, but also not the end of the world...with these big OLD boats, you really need a contingency plan for failures.

 

[saltshaker]

I considered the generator and exhaust systems as "mid-size" surprises.

A major (or two!) would be a "big surprise."

This much I can tell you with certainty - if you're not prepared to handle mid-single-digit thousand-dollar surprises on a somewhat-regular basis (at least every couple of years, and quite possibly more frequently than that) you're going to QUICKLY find yourself in over your head with boats of this size.

And on the years with no surprises, you'll spend the surprise money on something you want to change/upgrade. If you start with a well maintained boat, you may defray some of those cost for a few years. The reason it was nice when you bought her is because someone spent the time and money to keep her that way and now its your turn.

 

[saltshaker]

Yeah, you need to be prepared for the unexpected. I had a $15,000 suprise less than 90 days after buying her. Not a happy moment, but also not the end of the world...with these big OLD boats, you really need a contingency plan for failures.

I had my first big surprise 2 months after buying my 46C. That $4K repair led to a 6K upgrade so I was out 10K and lost 2 weeks of boating the first season I had her. Thought it sucked at the time, but it prepared me for the future surprises.

 

[SportFishCruising]

I just got my first big surprise expense today and I haven't even purchased yet .
Our &%$*^#@ Canadian Gov't announced a harmonization of federal and provincial taxes in the Province of Ontario which means the sales tax on a used boat is going from 8% to 15%!
This is insult to injury after the gov't just gave my 40yr working contribution of taxes to GM & Chrysler along with my kids and grandchildrens AND great grandchildren's future contributions!
When are you American's going to organize a revolt and over-throw your gov't because I want to get one going up here too!!!

You know what else is fun? Watching how my CDN dollar relates to the US $

(In these economic times...we need an icon of a person crying and not just frowning)

 

[Canuck Dennis]

Harmonized sales tax is NOT supposed to add any new taxes other than what was in force previously, check further,

 

[SportFishCruising]

Harmonized sales tax is NOT supposed to add any new taxes other than what was in force previously, check further,

We shall see. I am rather distrusting when it comes to government and taxation (for good reason).

 

[doc g]

For the record ,Purely Pleasure is no 10 million dolllar boat. He may have 10 mil in it . I loved the way he was saying his marina was the builder in all the advertisements and in fact is an Infinity . I wonder if Infinity sued him as it's not in the ads anymore. I remember seeing the listing when that boat was for sale years ago . Maybe Eric can remember what the price was then . Back on topic 10-20% is a good ballpark figure .....................Pat

 

[stormchaser]

It's back in his ads but no longer claiming they built it. I'd say it is now a 10mil boat, he's done a complete resto on it, including a repower of all 4 engines. Not only is she faster now, but he cut the fuel consumption by something on the orer of 25%. There was a big writeup on it not long ago.