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Newbie budget planning for boat upkeep


Mick in Bangkok

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Just updated my estimated budget based upon research over the past year. Am I in the right ball park for a reasonably well kept boat 60-70ft boat of around late 90’s leaning towards a vintage engine with reasonably available engine parts for cruising 6 months of the year and stored over winter months in a low cost marina with minimal facilities as will not be living onboard during these months.

I’m hoping these figures are somewhat pessimistic and actual costs may be closer to GBP6K per year without any surprises

Cheers Mick

Updated Aug. 2019

 Months on mooring

6

65 to 70ft

 months on board 

6

Annual maintenance & upkeep

 

Wgt.

Lifting out of water plus pressure wash x 1

 £                      150

2%

Anodes & blacking GBP500 x 2 years

 £                      250

4%

Boat safety certificate GBP140/4 years

 £                        35

1%

Mooring GBP230 per month

 £                   1,560

23%

Dry storage G300 (Aqua Marina, Dabdale Wharf)

 £                           -

0%

Canal & river license 12m 1020/ 6m 612

 £                   1,100

16%

River only license 12m 522/6m313

 £                           -

0%

Pump out GBP20 x 2 per month

 £                      240

4%

Water

 £                           -

0%

Tools

 £                      100

1%

Boat upper maintenance GBP8K/15 years

 £                      667

10%

Boat electrical maintenance

 £                      200

3%

Boat engine maintenance

 £                      200

3%

River canal rescue membership (optional)

 £                      150

2%

Diesel 1.5L per hr. x GBP1.50 (80hr/M)

 £                   1,080

16%

Cooking gas GBP26/btl., 1 per month

 £                      156

2%

Electricity / generator petrol

 £                      180

3%

Coal GBP11/25kg summer 1 bags month

 £                        66

1%

Additional clothing (wet gear etc.)

 £                      100

1%

Maps, books etc.

 £                        50

1%

Phone & internet GBP40/month

 £                           -

0%

Insurance, theft, fire & flood per year

 £                      250

4%

Misalliance

 £                      250

4%

 

 

 

Total cost per annum

 £                   6,784

100%

 per month

 £                      565

 

 

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Do you actually need to spend £250 a month on mooring at the same time as cruising 80 hours a month? Usually it is one or the other.

 

If mooring however, for nice on-line moorings £250 is a bit on the light side. Mine here on the K&A is £330 a month.

 

Also, all the boats I've ever owned use closer to 1 litre an hour not 1.5 litres. I've noticed recently how this rule of thumb seems to have been changed on here to 1.5 litres an hour recently. I think 1.5 is too much. 1.5 is a possibility if you tear along like a loon at 4mph as consumption rises with the square of speed, but few boaters cruise that fast.

 

 

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47 minutes ago, NB Lola said:

looks good to me.  Surprises can include such things as lost prop, engine issues, higher than expected mooring costs.  Personal decisions such as lighting, changing cushions, stove chimney replacement, minor, or major internal changes etc etc.

I have included a budget for upgrades in the purchase budget so only considering actual running and maintenance costs 

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24 minutes ago, Mike the Boilerman said:

Do you actually need to spend £250 a month on mooring at the same time as cruising 80 hours a month? Usually it is one or the other.

 

If mooring however, for nice on-line moorings £250 is a bit on the light side. Mine here on the K&A is £330 a month.

 

Also, all the boats I've ever owned use closer to 1 litre an hour not 1.5 litres. I've noticed recently how this rule of thumb seems to have been changed on here to 1.5 litres an hour recently. I think 1.5 is too much. 1.5 is a possibility if you tear along like a loon at 4mph as consumption rises with the square of speed, but few boaters cruise that fast.

My plan is to have boat on a mooring for 6 months not necessary for good facilities as I will not live on board. Remaining months will be CCing, items in red are static mooring costs and blue are cruising and black font all year round expenses..

 

Until a few weeks ago I was budgeting 1 hr per L and recent threads on the form have made me rethink this, however I would rather be over in budget and save on the day than underestimate before taking the leap and buying a boat.

 

28 minutes ago, Mike the Boilerman said:

Also, all the boats I've ever owned use closer to 1 litre an hour not 1.5 litres.

Glad to see this may be the reality of cruising costs

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33 minutes ago, Mike the Boilerman said:

Do you actually need to spend £250 a month on mooring at the same time as cruising 80 hours a month? Usually it is one or the other.

 

If mooring however, for nice on-line moorings £250 is a bit on the light side. Mine here on the K&A is £330 a month.

It is noteworthy that months the boat would be stored in a marina  are virtually the same cost as months ccing for the remaining months of the year.

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20 minutes ago, Mick in Bangkok said:

It is noteworthy that months the boat would be stored in a marina  are virtually the same cost as months ccing for the remaining months of the year.

You quote 'dry-storage' - if this is the case then you would not need a licence for the period of dry-storage,

If it is wet-storage then find a marina that does not require a licence (there are many of them about)

 

I assume (dangerous) that as you have only quoted for 6 months moorings (Winter ?) then you would not have a mooring in the Summer and be CCing.

 

If you are looking at getting some 'extra' boating wet weather gear (clothing) then £100 is way to low. A decent waterproof jacket alone will cost £200

Edited by Alan de Enfield
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14 minutes ago, Mike the Boilerman said:

 

And a pump-out every two weeks is too frequent unless a stoopidly small holding tank. More likely every two or three months.

 

 

A lot depends on the type of toilet and persons onboard plus if you are out a lot...when we both had full time jobs our pump out lasted a month....now we are on the boat a lot more it’s more like 2/3 weeks for two of us...you only rent beer! 

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50 minutes ago, Alan de Enfield said:

I assume (dangerous) that as you have only quoted for 6 months moorings (Winter ?) then you would not have a mooring in the Summer and be CCing.

Yes CCing the rest of the time, only have a mooring for winter months as I may be overseas for this period

32 minutes ago, frangar said:
48 minutes ago, Mike the Boilerman said:

 

And a pump-out every two weeks is too frequent unless a stoopidly small holding tank. More likely every two or three months.

 

 

A lot depends on the type of toilet and persons onboard plus if you are out a lot...when we both had full time jobs our pump out lasted a month....now we are on the boat a lot more it’s more like 2/3 weeks for two of us...you only rent beer! 

I have assumed for two on board full time and guests some weeks or week ends

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53 minutes ago, The Welsh Cruiser said:

Gas is closer to £35 at most places now but looking on the bright side, if you're only using it for cooking, a bottle will likely last 6 months. A bottle lasts me 5 weeks I have a gas water heater and a gas fridge.

Are gas fridges very cost affective? I do not hear so much of these but sound like a good idea

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2 minutes ago, Mick in Bangkok said:

Are gas fridges very cost affective? I do not hear so much of these but sound like a good idea

If you are achieving your planned 4 hours per day cruising you will be getting 'all the leccy' you need and so an electric fridge is powered for 'nothing' - add in 'free leccy from solar and you will have plenty.

 

A gas fridge will require the purchase of gas (obviously) but come into their own during Winter when you may be cruising less, or there is no Sun for the solar - however in your case you do not need the boat at all in Winter.

 

I'd suggest stick with an electric fridge.

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22 minutes ago, Alan de Enfield said:

If you are achieving your planned 4 hours per day cruising you will be getting 'all the leccy' you need and so an electric fridge is powered for 'nothing' - add in 'free leccy from solar and you will have plenty.

 

A gas fridge will require the purchase of gas (obviously) but come into their own during Winter when you may be cruising less, or there is no Sun for the solar - however in your case you do not need the boat at all in Winter.

 

I'd suggest stick with an electric fridge.

I'd agree with this. In my case, I live aboard for 12 months a year, I think a gas fridge has the edge. OK, it probably costs £20-25 a month to run it but...it enables me to have a single leisure battery rather than several and keep it above 70% charged pretty well 100% of the time. So, it lasts much longer. I still need to run my gennie every couple of days for 4 months of the year but I'm probably saving at least 2 hours of engine running each day for these 4 months. Also, if I had an electric fridge it would likely be 6 months when some engine running is needed rather than 4.

 

The financial sums still might point in favour of an electric fridge but if you factor in additional servicing for the main engine (and it wearing out quicker), getting petrol and storing it if you choose the gennie option, and add the general inconvenience and noise, to yourself and others, I think a gas fridge is by far the better option.  

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51 minutes ago, Alan de Enfield said:

If you are achieving your planned 4 hours per day cruising you will be getting 'all the leccy' you need and so an electric fridge is powered for 'nothing' - add in 'free leccy from solar and you will have plenty.

 

A gas fridge will require the purchase of gas (obviously) but come into their own during Winter when you may be cruising less, or there is no Sun for the solar - however in your case you do not need the boat at all in Winter.

 

I'd suggest stick with an electric fridge.

Just throwing out questions to get an idea of what to look for when buying a boat, I can imagine cruising for 4 to 8 hours some days and days moored up without moving in-between but with solar as you say an electric fridge might be my best option.

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2 hours ago, Mike the Boilerman said:

Do you actually need to spend £250 a month on mooring at the same time as cruising 80 hours a month? Usually it is one or the other.

 

If mooring however, for nice on-line moorings £250 is a bit on the light side. Mine here on the K&A is £330 a month.

 

Also, all the boats I've ever owned use closer to 1 litre an hour not 1.5 litres. I've noticed recently how this rule of thumb seems to have been changed on here to 1.5 litres an hour recently. I think 1.5 is too much. 1.5 is a possibility if you tear along like a loon at 4mph as consumption rises with the square of speed, but few boaters cruise that fast.

 

 

I do about 1.25 Lt/hr.  Beta BD3 in 57 foot boat with 2' 4" draft around 18 tons

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Seeking this much granularity rings alarm bells for me. Do enough calculation to ensure you have all the major expenses covered and walk away if you think anything less than: "Crikey, this is cheaper than I thought - I can easily afford this with lots to spare!". ;)

 

 

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