Affordable yacht for the weekends in San Diego

10% a year of a boat's value......Check into monthly slip rental costs...... what budget, size, needs, and so forth are we talking about here?

I would look at an aft cabin motoryacht. Something like a 37' Silverton in the late 90's can be found in that size and has a lot of liveaboard room, 2 staterooms, large aft deck, large salon, 2 full heads......it leans more towards the liveaboard side than the boat side. Searay made some aft cabins also.......as well as many others......

There's plenty of every kind of boat around San Diego...

10% of the value is a good figure to work from. You'll also hear $1,000 per foot per year.

Affordable yacht for the weekends in San Diego ...........

Thats funny putting Affordable and Yacht in the same sentence...

Is it really still 10%?

One question for all the experts on here. The old 10% rule was always based on a boats value in a good market. With boats now selling for 30-40 cents on the dollar, isn't the normal maintenance going to be a higher percentage? Not to mention the fact many of the boats on the market have suffered from severe lack of TLC at the hands of distressed owners and banks which will make it even worse.

I'm NOT trying to put a scare into the OP! I just know most maintenance items haven't went down in cost like used boats have. Is it time to change that figure?

You see why I like 1,000 per foot per year.
If you base your 10% on pennies on the dollar (purchase price) then shame on you for poor financial planning.

But a $10M boat for 5M
Plan for 10% of 10, not 5.

I believe this is common sense, however we've shown in many venues where that has been long since lost.

Hi,

Hopefully everything if you allowed 10% of your 70/80k purchase price 80% of that would e eaten up by 12 x $500/mo dockage so hopefully your actual costs would end up somewhere between the two figures.

Seem high

Are you all including the monthly payment on the boat,slip fees and general maintenance, insurance, etc. in that $1000 per foot?
$40,000 a year seems high for a forty foot boat if your not. But I sheepishly admit my question is only based on ignorance and what others have written elsewhere.

I was thinking in the $30,000 yearly budget range for a forty footer, with a large reserve for major repairs or failures.


Thanks

If your calculator can make the payment on a 59' boat out of the 1,000 per foot, please let me know. I've never been able to make mine do it. That cost covered maintenance, insurance, etc. 30K per year on an older (not new) 40' boat is fair with some reserves as contingency.

Thanks Propbet, I hoping to hear that.

JR