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The Big Picture of Ownership

Discussion in 'General Yachting Discussion' started by TXBoudy, Sep 5, 2008.

  1. TXBoudy, Sep 5, 2008
    #1
    TXBoudy

    TXBoudy New Member

    Joined:
    Sep 2, 2008
    Messages:
    2
    Location:
    DFW, Texas
    I'm new so hello to the community first off. Secondly, I'd love to one day be a fellow yachtsman.

    I'd like a 60' to 80' rig based out of south Texas and using it primarily for family cruises with freinds. Probably 10 weeks per year. The more research I do, the more it becomes obvious that obtaining the boat may be the smaller expense compaired to cost of ownership. I don't mind chartering the boat when not in use, I just don't want to be in a situation where I have to charter the boat to make ends meet. So, hoping to find some assistance for budgetary purposes.

    Slips - Is there a general range for slip rentals?
    Crew - I'm certain that at least 2 crew would be required for the boat I want to own. How do crew's work? Annual salary, Pay-per-trip???
    Fuel - I only have expereience with party barges and ski boats. What kind of fuel consumption could be expected from a 70' semi-planing hull cruising at reasonable speed.
    Insurance - ???
    Hull maintenance - ???
    Mechanical maintenance - ???
    Else - ???

    Thanks,

    Boudy
  2. Castlerock, Sep 5, 2008
    #2
    Castlerock

    Castlerock Senior Member

    Joined:
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    Location:
    New England
    Welcome to YF TX Boundy!!

    There is only one type of boat I can recommend for you, someone else's! Or the other alternative is to charter one when you want one that way you can goto different places and not worry about the delivery of the yacht and all of the problems that may come up.

    Additionally chartering will give you the opportunity to try many different yachts should you decide that ownership is for you.
  3. TXBoudy, Sep 5, 2008
    #3
    TXBoudy

    TXBoudy New Member

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    Location:
    DFW, Texas
    CastleRock: Thanks for the input. It's a good suggestion and exactly what I'm trying to gauge. To charter a boat for 10 weeks per year it's going to run at least $300K plus per year so at that point, am I approaching ownership dollars?

    Boudy
  4. m2m, Sep 5, 2008
    #4
    m2m

    m2m Senior Member

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    Location:
    newport ri
    As a rule of thumb 20% of the value of the boat will be what it costs to maintain (ie: dockage, insurance, crew) per year.
  5. NYCAP123, Sep 6, 2008
    #5
    NYCAP123

    NYCAP123 Senior Member

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    Plus fuel At $5 per gallon. If you're satisfied with 10-15kts maybe 40gph. If you want 30kts + you could be talking 130 to 150 gph.:eek:
    You already got good advice: The best boat in the world is the one your friend owns.:D
  6. Pascal, Sep 6, 2008
    #6
    Pascal

    Pascal Senior Member

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    Location:
    Miami, FL
    welcome...

    it's really hard to answer your question, there are so many variables.

    in the 60 to 80' range you are still in a size range where some boat could be owner operated or with just a captain depending on your experience. it's also a size range where you don't necessarily need a full time crew.

    fuel? anywhere between 70 to 120 GPH at 20 to 25kts... 15 to 20GPH at 10kts...

    slips? depends on the area... dont' know the prices in texas but you can find this out easily. the larger the boat, the harder it maybe to find slips though. in So Fl. (which is on the high side) we pay $20 to $30 a foot a month with annual contract. so... figure around $2k for a 70 footer.

    insurance? depends as well... the gulf coast and SE is higher due to hurricane risk... 1 to 2% of hull value?

    If you are not going to use the boat a lot, chartering is something to look at. both ways... either as an owner to cover some of the costs or as alternative to ownership.

    once you factor in depreciation and interests/lost inverstment income, you're looking at maybe 20% a year ownership costs. This is just a rough number... could be higher on a new boat because of larger depreciation, could be lower on a 5 ot 8 year old boat... so, a 1.5M late model 80 footer will cost you 300k a year.

    you cna charter a boat in that size range for about 30k a week incl. expenses. No hassles, no headaches, no crew worry, no insurance/hurricane worries and you can charter in various areas. Not necessarily a bad option.

    You need to do the math and see what really works for you. At first glance, people often dont look at the depreciation and interest or lost inverstment income and jsut focus on basic costs like fuel, insurance and dockage.
  7. K1W1, Sep 6, 2008
    #7
    K1W1

    K1W1 Senior Member

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    Hi,

    Pascal- That is a well written summary of the answers to his machine gun spray of questions.
  8. scott49, Sep 30, 2008
    #8
    scott49

    scott49 Senior Member

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    Location:
    Woodinville,Washington
    I have a 86' Burger which I have had for the last 7 years. My previous boat was only a 48'. When I purchased the Burger I did not realize all of that was involved with that size of yacht but would not trade all the fun and adventure we have had.
  9. Lug_Nut, Sep 30, 2008
    #9
    Lug_Nut

    Lug_Nut New Member

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    Location:
    Toronto
    I believe it is closer to 10% per year of the purchase price for newer boats.