What cost to buy / upgrade an H28 Yacht?

WHAT COST TO BUY / UPGRADE AN H28 YACHT?

You have decided to buy an H28 yacht ... why? ... well, you have worked out that they are popular and that you get a lot of boat space for your money ... right ? and hey, there are some on Trademe with the prices ranging from $10,000 to $35,000. Not a lot of investment for almost 30-ft of boat space ... so what’s a good deal ?

My quick check of the H28’s listed on Trademe (late March 2014) shows; 3 boats @ less than $15k; 5 boats @ $15k to $20k; 3 boats @ $20k to $25k; 2 boats @ $25k to $30k and 1 boat @ $30k to $35k. Quite a spread and no doubt that reflects things like boat age, construction materials, current vessel condition, extent of additional equipment ... and how desperate the owner is to sell.

Like the purchase of any used asset, one essentially has the choice of paying a top price for a boat in very good condition, where minimal other expenditure is needed to enjoy a reliable good H28 ... or paying a lower price for an H28 needing some upgrade work to bring it up to that “enjoyable / reliable” state. Unlike a motor-car on the road, when something goes wrong on your H28 and you are out on the water, it’s not always a simple task to get assistance quickly. Reliability of your H28 yacht and its equipment is just as important (if not more important in many circumstances) as the reliability you aim for with your motor-car. Peace of mind / reliability has a cost.

So is spending $35,000 for a top-condition / supposedly reliable H28 a better bet than buying one for $20,000 and spending some extra to bring it up to your preferred level of enjoyment and reliability ? Below is listed some typical H28 maintenance and upgrade costs, based on 2012/2013 costs using new gear and boat maintenance contractors for the labour where specific trade skills are desirable. Some may be able to lower these costs by finding “used” items and by using their own labour.

 

Item

Maintenance or Upgrade Work Description

Approx

Cost ($)

1

Boat haul-out, clean, 5-days hardstanding and antifouling (by self)

  • Haul-out, cleaning and hard-stand charges

  • Antifouling & polishing (by self)

 

 

400

300

2

Hull scraped back to gel-coat / any marks treated-filled / hull re-priming and new antifouling applied (including haul-out costs)

5,500

3

Replace mast-rigging, halyards & the in-mast electrics

  • Remove mast, replace all SS rigging & re-step mast

  • Replace all halyards & in-mast electrical wiring / lights etc.

 

 

3,000

1,000

4

New mainsail and genoa

  • Mainsail (Dacron fully battened 2-reefs)

  • Genoa (150% OL)

 

 

3,000

4,000

5

Replace canvas covers

  • Dodger

  • Mainsail cover

  • Cockpit Lee cloths

 

 

800

400

400

6

Full engine service check (without replacing any major parts)

400

7

Replacement of the engine with a new 20 /22 hp engine & gearbox

  • Purchase engine

  • Installation work

 

 

12,000

6,000

8

Replace prop-shaft, stern-tube & shaft bearings and fit a drip-less stern-gland / seal (assuming boat on hardstand for other works)

2,000

9

Change hanked headsail to a furled headsail system

  • Furler purchase and fitting with new forestay

  • Modify genoa for furling

  • Modify other headsails (each)

 

 

3,500

600

500

10

Fit an anchor-winch system (operation from cockpit)

  • Purchase of anchor winch

  • New bow-roller, anchor chain and warp

  • Boat building work to fit

  • Electrical fitting

 

 

2,500

1,000

2,000

1,500

11

Replace VHF radio (including fitting)

500

12

Install a chart-plotter / fish-finder / depth-sounder unit (fitting work by yourself)

1,200

13

Purchase 2 inflatable life jackets and a flares pack

300

14

Fitting a heads holding tank & discharge pump etc (installation by yourself)

700

15

Replace dinghy / tender

  • Inflatable dinghy (2.4m)

  • New 2 hp outboard motor

 

 

2,500

700

16

New batteries

  • Engine cranking battery

  • House battery (105 A-hr)

 

 

200

350

17

Freezer system not working / convert to electric refrigerator system

  • Purchase refrigeration compressor unit & cold-plate

  • Fitting work into existing freezer chest (by self)

 

 

1,200

200

18

Cost to transport an H28 from say Wellington to Auckland

3,500

 

You won’t do all of this but you will undoubtedly do some of it.

If you choose to purchase a very low cost H28 (less than $20,000) with the aim of spending extra to achieve better reliability or comfort, it’s easy to see that your total end cost could quickly exceed $30,000 or $35,000 ... unless you’re a total “do it yourselfer”.

Most likely even if you spend $30,000 to buy an H28 you will end up spending more for some additional “nice to haves” ... so that you get maximum enjoyment from your boating investment.

All this indicates that the popular H28 yacht is really undervalued in the market place. Good quality / well fitted out H28’s should probably be on the market at $35,000 to $45,000. If there’s competition in the market however, from the number of H28’s for sale or from the many other 30-ft yacht types available ... then it does force selling prices down which is likely the current situation.

While the above will hopefully assist your decision making, buyers should also refer to an article on the H28 Association website (h28.org.nz) ... titled “Points to consider when buying an H28”. Good luck in deciding on your H28 purchase.

Bob Gordon – H28 “Sandbourne”