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Annual Cost - 22' Walkaround w/single outboard

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Annual Cost - 22' Walkaround w/single outboard

Old 09-09-2020, 11:27 AM
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Default Annual Cost - 22' Walkaround w/single outboard

Hi All! I'm considering buying a 2005 22' walkaround with a single 200 hp outboard in the $25k - $30k range. I have never owned a powerboat before and I'm looking for feedback on the annual cost of a boat like this. I live in NY on the Long Island Sound and my municipal marina has slips for a 22' boat for $850. I plan on getting a trailer with the boat so winter storage will be free in my driveway. I estimate winterizing the engine at $400. I haven't decided to use a tarp or shrinkwrap. I believe shrinkwrap is about $350. I've read different things and I'm not sure of the cost for the boat/engine at the beginning of the season. I estimated insurance at $500 and I expect 2mpg for fuel. Any feedback on my estimated costs and any feedback on any costs I haven't mentioned would be appreciated.

Old 09-09-2020, 11:34 AM
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More than what you are thinking
I would say at least 1K a month not including storage or any MAJOR mechanical issues
taxes, gas, general maintenance and use. Then the other stuff that you will wan to buy
Old 09-09-2020, 11:38 AM
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My boat costs me about 15-20% of its price to operate/store/fuel/fix
Old 09-09-2020, 11:42 AM
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It sounds like you are in the ball park. Your slip cost is extremely low, but that is nice. Home storage makes a difference, assuming you have a vehicle capable of towing the boat. As the other poster said, it depends on the other stuff you need/want for it. Everything does add up.

I tend to not think about fuel in the MPG sense, but more like what it costs to go for a day to the places I normally go. Fuel is not bad if you just go to a sandbar and chill, but can be much more expensive if you tubing all day, for instance. Either way, fuel is an expense category I don't mind getting larger, as it means I'm having fun on the water. It's all the BS stuff that is not fun to pay.

How handy you are, and how much you can DIY will have a huge impact on the financial implications as well.
Old 09-09-2020, 12:23 PM
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Wow....do you mean $12,000 per year NOT including what I mentioned? What are the major expenses I didn't mention? Thanks.
Old 09-09-2020, 12:35 PM
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Bottom paint and detailing quickly come to mind. Additionally budget for preventive maintenance. Before next season I am going to have all the bottom paint removed. The following year I am looking to address the wiring, the year after that I am sure there will be something.
Old 09-09-2020, 12:43 PM
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the variables are so many....

I trailer the boat and it stays on the side of the house...if you live near a ramp I'd recommend that route.

there are some years where I only pay for the registration decal, insurance and gas.

Sometimes you'll have a trailer repair, an engine repair , fiberglass repair, equipment installation....the handier you are the cheaper it will be. Lack of money is the mother of DIYers
Old 09-09-2020, 12:55 PM
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How used is your used boat and motor? Does it come with the trailer? Boat bottom paint is pricey but you need it to stay in a slip. The slip price sounds very good, though your insurance sounds low. If you budget 10% of your purchase price you should be in the ballpark annually (2,500 to 3,000). Lots of unknowns here, are you DIY for stuff? Maybe a boat cover that you use for several years would be better for you. What kind of boat and motor? Some are higher maintenance than others. You will have so much fun you won't care what the gas costs.
Old 09-09-2020, 12:57 PM
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how can you and are you willing to do
how much are you going to run the boat
I had a 33 with twins and some times I got by with 5K and other years it was over 10 k
no storage had my own place, no personal prop tax. But insurance & gas always went up. Some years just a flush and oil changes
other years, impellers, plugs and may a pump or switch needed replacement. Every three or four years a new boat cover (2K) would be needed.
GAS is still the cheapest part of ownership on ANY size boat, but it all adds up
Old 09-09-2020, 01:13 PM
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The majority of small trailerable boats are not bottom painted - figure $1500 to sand/prime/paint the first time and some lesser amount to to repaint it every other year.

Some years your maintenance cost will be minuscule and others you'll need the VST cleaned, impeller changed, thermostats, anodes etc and the price for a dealer/marina to handle these items might start to hurt your feelings. Another $1500/year and you should be safe but it all goes out the window when you break something

Want to keep it shiny and clean? Either sweat equity or $10 - $40/ft for basic wash to thorough detailing and that may be just once or several times a year

Are you going to have to pay extra to store the trailer thru the summer?

Winterizing in Texas means we use them less so no idea on that cost.

15 Year old used boats at an agreeable price point tend to come with neglected maintenance items and things like bilge pumps, trim tabs, lights etc not working - factor in at least 10% of your purchase price up front if you're paying to get these inevitable issue addressed by someone else.
Old 09-09-2020, 01:18 PM
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He's talking about a 22' boat here guys, not a 60 ft yacht.

I have a 20 ft boat w/225 2 stroke. Here are my operating costs:

$40 of fuel per outing, average. average 5 outings per month = $200/month
Insurance: $20/month = $240
annual maintenance (I do all this myself): $500 (impeller, oils, plugs, etc)
annual trailer maintenance: $50 maybe...grease and check bearings
annual tag fees: $50

Add in $400 winterizing (this is easily done yourself for less than 1/2)
Add in $350 for shrinkwrap
Add in slip $850 (is this annually or monthly?)
Add in bottom paint the first year...then touch ups each year after that: $500 if you do it yourself, it's easy

So far...that's $3,140 annual...assuming my level of fuel usage.

Now...add in the stuff that will go wrong or need fixing each year....for a 22 ft boat in decent shape....figure $1000 of something each year. Now you're at $4,140.

Roughly 14% of the purchase cost of a $30k boat. Want a safe estimate for cushion?....round up to 17% @ $5100 per year.

Old 09-09-2020, 01:20 PM
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Nobody has mentioned the $2-3K you’ll spend to “make it right”, electronics being one thing, big difference between the electronics in 05 and what’s available now. You will definitely want to upgrade there if nowhere else.
Old 09-09-2020, 01:24 PM
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if u are lucky(nothing major breaks on boat) and pretty handy, u can do alot of the yearly maintenance itemst. My maintenance on my suzuki 175 is about 100 per year which also includes maintenance for trailer bearings. insurance is extra, registration fees, storage fees.
all other cost are related to using the boat. if u have good friends that donate to each trip, it doesnt really cost that much for a trip.
Old 09-09-2020, 01:31 PM
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I think Sangster is right on most stuff
BUT the coat of gas. But as I said before gas is the cheapest part of the boat
I burn 25 gallons a hour at cruise and pay $3.00 a gallon
Old 09-09-2020, 02:06 PM
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You'll find it's a hell of a lot cheaper to tow the boat to the ramp instead of keeping it in a slip - night and day.

I buy day slips now and again for long weekends if I want to use the boat on a few consecutive days and don't feel like launching it each time. Not sure if fiberglass needs bottom paint for three days in a slip, mine is made of a different material and doesn't need it.
Old 09-09-2020, 02:38 PM
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Your at a few grand per year. There is not a ton of expenses in a bot that size.
Old 09-09-2020, 04:02 PM
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I have a very similar boat as mentioned,
you are very close on all your costs, I’d say add 50%
and then there is another hidden cost which can vary from year to year,
I pick one part of the boat every year that may be outdated or pose a safety risk.
new through hulls, not a big cost.
replace pumps, floats, wires, hose, switches. Adds up.
new vhf radio, antenna, cable, mount.
new fuel tank, pricey.
some years it’s $1000 some years $5000
new motor last year that was $28000
you get the idea.
if you want to have a safe reliable vessel
you have to keep dumping money into it.
as much as you can.
Old 09-09-2020, 04:33 PM
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Some of your yearly costs are fixed costs, and others are variable. More usage only increases your variable costs, such as fuel.

I trailered for years and when we switched to a slip, our boat usage doubled. I would never trailer a 21' again if I had a choice. Mine has been in a slip every summer for the past decade, and the 23' before it was in a slip for 10 years as well.

Other than black swan events, I spent about $750 on a slip, about $1,000 in fuel, $150 in oil, $300 for bottom prep & paint, $315 for shrinkwrap, some amount for insurance & registration, plus budget $500/year to cover 3 year maintenance.

So in a normal year I'm a little over $3k/year for our 21'. That number will go up if something breaks.
Old 09-09-2020, 04:59 PM
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Try to get a boat you really enjoy because the costs are always more expensive then you think they will be, but less expensive the worst numbers you’ll hear here.....it’s not a practical hobby, I’ve done it in a tight budget back in the day and it can be done, you just have to be handy, lucky, and buy a simple smaller boat in as good as condition as your budget permits.
Old 09-09-2020, 06:10 PM
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I think it’s funny every time I read the “what’s it cost to own a boat” threads on the boating forum, it seems all the boat owners try to talk you out of owning a boat.

If you do what honestly “most” boat owners do, it can be pretty cheap.

Put gas in it, and fix stuff only when it breaks.

And if you take friends out, they may even chip in for gas!

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