Cost of boat ownership

Hi all,

Sorry to bother, but I have searched the archives before posting this question. I'm a potential CC owner and want to know what else I should be considering when buying my first boat asside from the cost of the boat.

I know I have purchase price, sales tax, gas, I'll be storing it at my parents place in a temp. carport, I know it will cost me about $100/month to dry dock it at the marina I'm looking at for the summers until I find a lot I like and can afford. I've got lots of experience with the cost of gas and how much I burn in an hour of heavy use, and it will cost me around $500/year in insurance.

Is there anything else I need to figure in? (annual repairs, winterizing, un-winterizing, etc)

Thanks for your help,

Let me give you this summer's costs:
(Bought '97 in beautiful shape)
Dock rental $1000/yr
Mooring lines (good ones) $40/set of three
Fenders $50/set of four
Steering cable $125 (I installed)
New ski $350 (HO Burner)
New wakeboard $300 (for my kids)
Vests to fit wife/daughter $100 (just HAD to have women's vest)
Wakebard rope $50 (wah! slalom rope is too stretchy)
Two "bow eyes" to attach to rear transom $40/pair (installed myself) (Correct craft must assume that no one ever ties up their boat! The lifting ring works, but the rope slowly destroys the cover) so.....
now I'm thinking about a New cover $350 (boat was in awesome shape, but the stock cover seems to be made from an old canvas tent!)
This should give you an idea of what happens.
Probably every owner who reads this will sadly nod their head in agreement, and most will be too depressed to add their own items/cost to this list.
Is it all worth it?
Hell yes: Every time I shove that throttle down the smile on my face makes it all seem worth while.

Don't forget to consider winterization, oil changes, fuel filter replacement, and annual or semi annual impeller replacement. Also, plan on bending a prop at some point. Reconditioning will run $85 to $150. New will be $350.

Don't forget the cost of beer!

I tried to keep all of my receipts for things spent on my boat in a shoebox. It seemed like a good idea at the time. When the shoe box became full I just started throwing them away.

Once you get your CC you may have to choose between food for the fam and boating. Sorry fam.

Everytime I take my old in-need-of-paint water-logged, leaky transmissioned, '68 to the marina I get oooohs and ahhs and "cool boat man" remarks from people with shiney new $30,000 boats, kids standing on the docks, people fishing on the banks, and even from chics in other guys' boats.
It becomes addictive.

Has anyone else noticed this?

Hi jwfergus1,

These guyes are all right but I must disagree with keeping too close track of the cost. Where elese can you get your wife, kids and their friends all together for houres on end, having fun in a place they all want to be?

Also right on about firing up the deep rumble of the older 351, kind of makes the newer boats sound a little ... wimpy, shall we say.

Go for it, get a good clean CC and join the group, it's a blast.

Hey guys you forgot one thing that I can see. RAMP LAUNCHING FEE. Better figure $5 a pop for a launch fee if you dont dry dock it somewhere. Unless your lucky enough to have a free ramp somewhere ( I haven't) or live on the lake you better throw this expense in there. 2-3 times a week for 4-5 months can add up in a hurry unless you can buy a seasons ramp pass.

Just some more to add to the list:

County imposed luxury tax (perhaps CA only)
$300 per year.

Launch $8 to $40 depending upon site.

Worn out carpet and trailer bunks.

Scratched stickers.

Propeller Ding repair (about $100 a pop)

Additions to your tow vehicle like trailer
hitch, wiring for lights, heavy duty radiator,
new shocks, etc.

When all is said and done:
After expected costs like boat payment, insurance, gas, launch, beer, oil changes,
and taxes, I generally assume I'll spend about another $1000 each year for miscellaneous breakdowns, repairs, etc. New
equipment like skis, vests, wakeboards, etc.
is more.

Is it worth it? Yes, every penny.

BKH

No matter how much I spend, I forget all about it when I'm ripping up the glass... What a feeling!

Be aware of the costs but dont sweat it. You should already have a pretty good idea if you can afford it or not. My $.02, They are well worth the great times you will have with it. Do a thourough inspection, get a buddy to go look at it with you, test it, buy it, love it.

Dallas

Hey Guys, enough about the cost, my wife reads this site every now and then. If she finds out what I'm spending she'll want more money for her hobby-SHOPPING!!! I've got her convinced that it don't cost that much.


Needless to say that any new parts or anything boat related that I order is sent to my office.