@@johncuervo3019 If it's your money and you are spending it doing something you like to do, it's not wasted money. I like boats, I don't have one, but someday I might. Right now I have a 35 foot travel trailer and a pickup truck to pull it with that set me back almost $80,000 that some people would call crazy. Maybe it is, but it's my money and my crazy. I worked hard to get my money and now that I'm retired I am enjoying the fruits of that labor. Just living the dream.
Thanks for the reality check. Always wondered what the actual cost of ownership would be. Most people are to uncomfortable to openly discuss finances like that. (and I understand)
@@tryingnottosink9107 Americans can be such puritans about money. I really don't understand why people are so resistant to transparency about these things. As an aircraft (small piston, sub 15K/yr all in operation for less than 100 hours a year) owner myself, I commend you for being open and informative about your ownership costs.
@@tryingnottosink9107 Have you guys ever tried taking your boat to the great lakes, or do you know if you can get a big boat to the great lakes, I was wanting to buy a big one down in Florida but can't find a answer on how to get it to lake Erie, I read something called the great loop but it also said somewhere had low bridges and depth issues.
I bought an inflatable dingy for my kids once, i had to buy a puncture repair kit to fix a leak and the rope also snapped so i changed it for a thicker one so im feeling your pain.
Well im not as rich as you, but once i had a toy radio controlled boat, I had to buy 4 new AA batteries for the remote controller. So i can imagine your pain
I once thought about buying a boat, so bought a yacht magazine and a cup of coffee. That put such a dent in my budget that I had to abandon it. Your original comment was priceless, btw. Thanks for the laugh.
You are one of the very few that will discuss the cost of ownership, thank you. I found out very early on in boating that the cost of the boat is one thing and maintenance and the cost to enjoy is another.
I have watched all of the past videos on your channel. It's been fun and enjoyable tagging along and getting to know you both. Now it's back to work and planning trips to come. I'll be watching as you post, so "fair winds and calm seas" to both of you and Triton. Happy sailing.
Thanks for sharing what owning a yacht costs in a year. I guess the grass is always greener... I've got a 30 year old 16' aluminum fishing boat with 10 year old 25hp Yamaha, here's the break down. Insurance $31/year, registration fee $18.50/year, amortized single battery replacement and trailer tires every 5 years $40/year, Annual maintenance (4 cycle oil change, lower end, servicing trailer bearings, etc) $25, fuel for the entire year of fishing $50. Apples to oranges, but I'm suddenly a whole lot more appreciative of my little craft. Of course, I'd have pretty rough trip taking mine down to Key West ;).
@@roccoseals7753 I love those older evinrudes! Parts are so inexpensive...water pump impellers, fuel pump rebuild kits everything is well under $40 and most under $20. So simple and easy to work on too. I've seen some really nice original and super nice restored Sea Nymphs too, they're cool boats!
@@tomj528 oh man I love that Evinrude, we where running a 9.9 4 stroke merc off a walleye boat but not enough power, and not an Evinrude. That sea nymph was saved from a field of sitting for 18 years as well
@@roccoseals7753 My Lund originally had a 25hp Merc, I HATED that thing...it never ran right. I remember that it finally gave up the ghost about 2009 or so and I was amazed that my relatives bought a new Yamaha for it. I had suggested getting a used Evinrude but they wanted a new motor which they never used much since they had also bought a Ranger boat and switched to fishing out of that about a decade before. I get to go to their cabin a few times per year and I've happily done all the maintenance on both boats for decades which has been a huge learning experience. The Ranger has 3 large batteries that need replacing every 5 years and they're not cheap, anything that has to be replaced/fixed is a PITA because everything is built in, I've got to replace the bow mounted trolling motor this spring and it's really hard to get access to the mounting bolt nuts and the trolling motor is 5 times the price of a clamp-on stern mounted one like on the Lund. Heck, even the trailer tires are kind of pricey. The Lund's are $40 each for new tires AND rims, insurance is a laughable $31/year and compared to the 115hp Evinrude on the ranger, the 25hp Yamaha sips gas. Clearly, our kind of boats are the best way to go fishing. That's great that you saved yours from a field, these boats are so durable and long lasting they can have many "lives".
What I am getting is this guy is sensible and able to think thru problems. He is controlling costs. Another type of owner could spent vastly more. Or less. This guy is doing it correctly.
Ahem...if U Cannot afford the petrol/ gasoline... Hahaa then...what's the point, it's really to tease the neighbours...sssssh don't tell we can't afford the boat...but what the heck... Hahaa...
This is why I prefer sailing yachts! My good friends 2001 Amel 53 Super Maramu 2000 that he lives aboard year round, with his solar panels and his watermaker... not to mention his proficient blue water fishing skills, he's almost entirely self sufficient outside of emergencies. He was docked for 2 months out of 12 last year and paid around $4500 in routine maintenance and berthing costs, paid around $1500 to fill his tank and whatever he paid for food throughout the year, all-in-all, under $10k easily for an entire year of operation, including crew that sail with him and pay for some of the already acceptable costs! The year before that was a bit more expensive, closer to 60k, but he had the boat on the hard for new gelcoat and anti-fouling as well as mast maintenance and getting some new sails with an electronic raising system setup as well as a lot more that I'm sure I missed. All in all, when I comes time for me to grab a yacht of my own, it's gonna have sails!
Even a few years later this is a 12 minute master course. You can easily adjust it for inflation and tailor it to your general situation. Very informative. Thank you!
Well, it all you want is to LIVE on a boat a lot of that goes away. You can anchor it in a swamp somewhere, never clean the bottom or maintain the engine, there won't be fuel costs either since you are basically using it as a floating house. The boat still float for years in total neglect and maybe you can even grow oysters and mussels on the hull LOL!
thank you , I been wanting a 55' Hatteras for a long time. Being a motorhome owner, I understand maintenance is the real expense . I learned to do as much of it that I can. I figured i would just do a live aboard in PR when my wife and I retire. YOu opened my eyes to the reality of it. I miscalculated fuel expense. congrads for living the American Dream.
I've been watching boating videos for quite a while and I sometimes wondered how much ownership of a big yacht would cost and I really enjoyed this content because the owners broke it all down in black and white, which I found very interesting. I know I'll never be in a position to experience yacht life, but by watching videos I live it vicariously and it doesn't cost me a dime, lol. Appreciate their openest and laid-back attitude, obviously, they knew the numbers going in so living the lifestyle and cost of such a lifestyle wasn't a shock I presume. They would be a hoot to hang out with. Subscribed.
Let the kids take care of themselves. I kept telling my dad that he should buy the yacht he wanted or I would with his money. That's what I'm doing now. Thanks for the super thorough and informative video!
No one said fun was cheap, but this seems good value for a great year of cruising and a few bumps along the way. :) And happy new year to you two too...
Happy New Year to both! I think the costs that you had were normal.....as you both said, it increased your experience level and makes you a better captain! I’m a retired airline pilot....any pilot who said they never made mistakes....I never want to fly w that person! I’m hoping that when we start our cruising after I retire from my job now I’ll still have the same mentality....minimize the mistakes by doing all I can to stay on top of things....knowing I’m gonna screw things up sometimes!
Happy New Year! Somehow I missed your post earlier. That is one thing I am certain of - I will make more mistakes. As long as no one gets hurt, I am happy to learn from them.
it is the TYPE of boat they have, the most expensive boat type of any, use long more slender, do not push huge bow wave, steam displacement speeds ie sq/root wlx a factor in this case 1.2, that boat is old Hat, pardon the pun, so this vid will scare people who know zero about boats, you have to be nuts to run this type of pig
You guys are the best. Thanks for helping us understand the expenses. I will no longer complain about the 10k I spend on our 2008 36 Silverton per year!
You guys are living the dream and look like a fun couple. Regardless of how much money you spent, you are doing what makes you happy. Love the “spending the kids inheritance “ comments.... use it on my kids all the time to get a rise out of them.
Awesome video, thank you!! This was incredibly helpful as I contemplate the annual costs of a similar yacht. There's very little information on this available, so you guys are really to be commended for sharing this!
This is spot on. Back in 2012 my father and I bought a 50ft Hatteras convertible that was located down in Miami. We have a summer home down in the Keys but we actually live in NC about 30 minutes north of Myrtle beach which is where we now keep the boat. We keep it at the grande dunes marina in South Carolina because the water there is brackish instead of pure salt. Anyhow we have had a few boats in the past in the 35-45 foot range so we weren’t total beginners. We left Miami and where going to head to Nassau then back to Miami and bring the boat to its new home in Myrtle Beach. Well we figured a budget for gas plus a few thousand extra for miscellaneous things that may occur. Well as you said those 92 series Detroit’s loved to burn some oil and since we are from the N.C. area we weren’t aware that boats that sit in lower Florida have the fuel systems polished every few months to keep the algae out and we bought the boat and it sat in Miami about for months before we started our journey. About a 100 miles all four of the Racor filters were all but clogged shut. We only had two spares and I can assure you it’s not easy to find racor filters for a 1982 Hatteras throughout all the chubs and kays in the Bahamas. We had to have a few filters overnighted to Nassau to continue the trip. While in Nassau or small dingy/tinder decided it wasn’t going to run anymore. After we made it back to the states we had to have both shafts repacked in Daytona beach and shortly after that we lost trim tabs and a tropical depression decided to bless us with its presence. After a few days of rough traveling we made it to Charleston harbor and our generator gave out on us. By Gods Grace we finally made it to Myrtle beach and a trip that we planned on making in 2 weeks took us 4 weeks plus and the couple thousand we had planned on our budget was no where in sight. Of course that budget didn’t include fuel that was figured separately but our misc budget was laughable when we finally made it home. On top of that we had to fill up in the Bahamas and that boat had two tanks one is 750 gallons and the other is 250 so we put around 859 gallons of fuel in the boat and went to pay for it and my bank had turned my card off due to possible fraud. That was a long 30 minute phone call. The people at the fuel dock thought I didn’t have the money to cover the bill and started to get a little excited and Piss off with us. My bank said it would be 2-3 hours before my card would be active again so I went to the boat and pulled out the cash I had saved up to have a little fun in the casino at Atlantis. That truly broke my heart the whole trip I was looking forward to the casino and then bam all my gambling was in the fuel tanks. Gotta love boats especially old Hatteras.
That is an interesting story. I will definitely make sure I have plenty of spare racors for our trip down to the Bahamas. And will give my credit card company advance notice. Hopefully this year's trip will be a little less costly then last yeas. We love the Grande Dunes marina. The staff is very nice and it is great to be walking distance from provisions. We always stop there when we pass by.
Trying Not To Sink I think you will be fine going to the Bahamas our issue was the boat we purchased had spent a number of years in Miami and from what I was told the constant warm weather allows algae to grow in the diesel tanks especially if the boat isn’t used regularly. I know here is North Carolina it’s not a issue because if the milder temps and the winter months it gets below 50 degrees most Days. The algae and fuel polishing is a big thing down south and us being from the Carolinas we had absolutely no idea that was a thing more or less a problem. But next time y’all swing through the grande dunes swing by and if we are there maybe we can have a drink or two. I don’t want to give out the exact location but we have the only early 80’s model Hatteras convertible named “majestic” with the hailing port still marked as Miami. If you are walking to the restaurant/bar you can’t miss the boat. Not the Ruth’s Chris steak house but the actual grande dunes restaurant. The dunes has always treated us very well actually a few years ago the golf channel filmed a show in Myrtle beach called the big break and if you watch the first episode the contestants actually do all there intro off the boat filmed in the ICW. But we are there pretty much all the time so next time y’all swing through first rounds on us.
I remember about a year ago, I somewhat respectfully laughed when you said "you can cruise 26K+/-".......I am always asked what it costs to cruise and people get frustrated with "There is no answer"..The only answer I can give people is "its more than what you say you can do it on"...lol.......Thanks for sharing the honest numbers and truth of boat ownership and cruising....People need to know that even accountants can underestimate numbers....lol...Your original post was excellent and you dont hear many accountants talk about depreciations, lossed revenue from potential investment, etc......GREAT VIDEO
Thanks. We are glad you enjoyed the video. The main difference between my estimate and the actual number was that we decided to take a 3000 trip. That is why I included a trip cost and a regular cost slide. Of course, hitting bottom twice sure did not help!
Its takes a lot of balls to take a trip like that, mostly due to the issues you had so I give you tons of credit. I'd find it hard to relax always worrying about what is gonna go wrong next, but that's just me.. And you only live once plus you have the money, so enjoy the crap out of it. It's certainly a dream of mine to island hop..
Thanks. I agree - you only live once, so you may as well enjoy it if you can. My brother died in a boating accident several years ago and it really put a perspective on what is important in life.
Thanks, I think my plans of living on a boat have changed...THAT IS A TON! Now I wish I took those sailing classes my parents tried to push on me when I was a kid.
Awesome, your breakdown is spot on with reality. A 35 foot boat is about $15k per year to "just sit in the water" if you do most of your own mechanical maintenance. The boat purchase price should never be considered as part of the amortization. Buy cash, and say hello to depreciation. Owned a boat since I was 20, and my eyes pop out of my head when I look at how much I could've "saved" now that I'm in my mid 40's. Bought a boat, fixed it up specifically for our honeymoon and got the wife hooked. We have no regrets, especially when the kids were growing up. My advice to anyone starting out - do it with cash, never borrow for this kind of hobby.
This is why I own a 21', and would never own anything bigger than a 27. Now, do I love big Yachts? Hell yes. Does my heart have dreams of living on some 100' private yacht, fully crewed, sailing anywhere around the world at my whim? Yes. But my mind knows... my mind knows how much it costs just too own a 21' boat.. much less a boat that's 100'! Anyway, thanks for sharing! And thanks for letting me live vicariously, while reminding my why I shouldn't pull the trigger on a big ol' boat!
Great that you are able to and do make significant use of your yacht, rather than just keeping it in and around Philly. Forgetting the costs and using it for long and really enjoyable trips is "priceless". In the long term I suspect you'll never miss the money, but value your experiences greatly.
Great videos, love the honesty and insight on owning a yacht. This will really help future yacht owners get an idea of what in reality the costs are. Have a great 2019 and will be looking forward to your next adventure..
On the other end of the price spectrum, three of us ran about 1500 naut miles once in a 22 footer, slept under cover on board, ran aground deliberately repeatedly, used very few marinas, and it cost roughly $300 for the entire trip, exclusive of the vessel initial cost. Oh, yes, we were in a hovercraft. Now, about that 8 Hp hovercraft, 200 miles in a day, me alone around the entire shorelines of Lake Washington and Lake Samamish and interconnecting waterway. . .
What I love the most about this video is how well grounded the owners are. Despite the high upkeep cost you can see how excited they were about getting a small 🚣♀️ 50% off. 👍
To everyone freaking out about the costs, please take into account this is a 41 year old yacht and technology has come a long way. Also, spending maybe 10 minutes watching bits of their videos the dude has a habit of accidentally damaging his yacht.
I think if you are into exploring inland waterways and the like, the odds of striking the bottom go up. Is it feasible to have some kind of protective steel tubing in front of the propellers just to offer some kind of protection? It could also serve to minimize injuring or killing Manatees or Turtles in those southern waterways? Similar in concept to racing vehicle roll bars.
@@Ger0n1m0 Maybe. There's a lot to unpack there. Is it an Motor Yacht M/Y or a Sailing S/Y, fuel prices are one of your biggest operating expenses. How are you planning to use it? Long trips or fishing? Do you have a place to anchor or are you going to pay monthly for a spot? What condition is it in now?
@@burtmacklin6443 man I dont have any plan. I might fish alittle with it but I have never been on a boat except when I was maybe 4 years old. For all i know I'd drive it in a circle and have a ball. I have no idea what I'm looking for in a boat except It would have to be affordable. Be alittle roomy and have space for friends or family to sleep. Like two extra bunks or something. Other than that I drive a Semi 6 days a week lol
Thanks for the informative video. I plan to do this trip, but I plan to do it in a 36 ft Trawler some day to keep overall cost of ownership down...I'd say the experience is priceless. Life's too short. Thanks for taking me on your cruise via RU-vid.
At least the money is spent on something they're enjoying. In comparison to throwing the money towards property taxes (that's how you know you actually don't own your property), it's a well spent exchange.
Thanks for this - very helpful to someone such as myself longingly eying a Grand Banks 42... I realize this would be very doable.....as long as I sold my house and moved aboard....something that has gone from a ridiculous fantasy to .....hmmmmm - I wonder.....😎
Great information and thanks for the honesty. Not many out there would lay out their expenses like that and I'm sure several of us will use this info in the future, boating or otherwise. Thanks again and be proud of one of the best blogs/channels out there today on youtube.
Thanks. We are glad you enjoyed the video! We are just trying to provide the info we would have found helpful. There are so few Motor Yacht vlogs out there, we would think there would be more interest. If you see Lyn walking around topless in the next video you will know we are going for the numbers! :-)
Great video, Thank you for being so open and honest, understand a lot of people don't wish to discuss these things, not that I'n in a position to buy a boat but still appreciate you both being so up front
How about the joy & happiness it brought to you everyday by that boat compare to your expenses? How about those things youd see in the ocean that average people have no opportunity to see? How much it cost ?
Thank you for opening up the books to show what's real.... This is why people love your channel - you have fun and its ok to be real about. Next year the budget should be smaller - because its time to start getting product endorsement - Hit up the tequila brands........ Thank you for being real!!!!!
Well, people complaining and whaling about the yearly cost (that you can afford by the way ), and explaining that could go to Disney 2 weeks with that , or feed the poor, or have a smaller boat or whatever .... It is funny ... But the bunch of places, experience, sunsets, divings, adventures, sense of freedom, etc etc that a big yacht offers is unparalleled. My 2 kids always have a blast on the boat, most of our friends love to cook for us (lucky dogs we are) and we always have a wonderful time when out. Is it expensive ? yes ... Is it funny ? Ohhh boy !! Give you good memories ? The best ...... And the pictures are always excellent.
This is a great video. I have toyed with the idea of a trawler over a sailboat (motor sailer really) because they're more comfortable. That extra room for a deck or fly bridge up high is a real bonus! I have wondered what the fuel would come up to. I almost convinced myself that fuel and rigging would nearly even out over time... But after seeing this fuel cost I just can't imagine doing it. $12,000 in rigging is high quality running, standing and sails of a big sailboat (DIY of course) and that should last all of 10 years. Back to the Gulfstar MS market I go! Thanks!
I've done conventional building (21 framed homes on concrete), worked some months on an Earthship, as well as domes, straw bale and less conventional creation of personal shelters. I'm currently designing a houseboat where the majority of the superstructure is cargo containers. 7 cc, 2 - 40' and 7 - 20'. The two larger "floats" with the other 5 welded across about 5' in on each side. This gives me a superstructure beam of 26' and a finished length of 70'. 800 sq ft main deck (enclosed) + front/rear decks, 640 sq ft in both 40' "pontoons". 1,440 sq ft houseboat with 800 sq ft top deck, full photovoltaic system (E-Houseboat) with additions, and a few extras. Getting systems from salvage as well as shopping, I believe I can get it on water and under power for about $125k. 20+ years of pre-paid fuel makes up for a lot. lol
Fantastic lifestyle and reasonably accurate portrayal of the true cost of motor yachting. I'm a Pacific Northwest 54' boat owner with about 20 years experience on the Inside Passage waterways from Seattle to Alaska. I tell everyone that it's not the acquisition cost of the boat boat that is expensive, its the fixed and variable operational costs that become costly and problematic. Basically, if you have to ask how much it costs then it's way too expensive to own.
One of my friends who owned a boat told me "the happiest moment I had owning a boat was when I sold it". So there 'ya go. Perhaps if you are really into it and with loads of cash, it's something you'll enjoy. But if you are just a "regular Joe" like my friend (who really wanted a boat and did), it's a cash pit. More of a liability than an asset....
@@kendallevans4079 It wasn't a timeshare. It was a 1994 model 30 footer. My friend is a small business owner but still considers himself a regular joe :) and used quite a slice of his savings to purchase it. He is one of those who really wanted one. We went sea fishing on it a few times in the California coast. He was paying at least $700 on slip fees....ouch! And the maintenance, gas, and other upkeep costs were piling up he decided to sell it at a 15% loss. Boats don't hold their value that much. But my friend took the plunge.
Thank you for sharing. I'm a new boater (Tracker PG 175 WT). I often envy larger boats but not the expense (s) noted in your video. I do desire to upgrade one day, but only to something in the range of 25 to 30 feet. It's the freedom and experiences that are worth the expenses for me! Thanks for sharing.
It is a piece of blown glass artwork we purchased from a local artist in New Hope, Pa. We thought it had a nautical / wave feel to it and bought it for the boat.
You guys are awesome, good to see you are enjoying yourself. Thanks for the insight, not sure I'll ever need it as I'll never be able to afford the boat, but I feel enriched by the process none the less :-)
I have a 23 ft cobalt and it costs me $4,000 to store and dock for the year. In Madison WI the season is short and most of the money is used to store inside. Dry stack for the year.
About 70% of your costs are due to the type of vessel and your choice of having a slip over anchoring or tying up on a mooring. A sail boat would be able to do the same for much less
kuku muku. You would rather have a motor yacht, but have you ever been near the Great Lakes or the ocean? I think a ridiculous amount of people chose the “gay sailboat” option. Different strokes for different folks. I’ve cruised on both and I’m not a huge fan of listening to Diesel engines day after day, but both options are fun.
When we have been asked about the costs of cruising, our stock answer is, "All of it..." You can go cheaply or extravagantly, but it will cost whatever you can afford. Enjoyed your video explanation of the budget!
