March 2025- Budget report

March 2025 overview

This month marks our second-biggest spending period.  

We purchased the boat at the end of February, and now March has been dedicated to refitting and renovation.

                                  

March 2025 details

We bought a lot of consumables for the renovation, and more importantly, we needed a ton of equipment to upgrade the boat: a heater, wastewater tank, charging ports, an electric outboard engine, and more.  

The list is long!

March 2025 vs budget:

We spent 10,000 euros this month.  

Of that, 8,600 euros went toward refitting work just for March. In total so far, we’ve spent 9,100 euros on the refit out of our 20,000-euro budget.

We still have some work ahead:  

- The teak isn’t fully saturated yet and needs new joints (rough estimate: 250 euros).  

- We need to pay for porthole replacements (estimated: 650 euros).  

- A damaged solar panel needs replacing, along with energy storage, electric cables, and a regulator (estimated: 500 euros).  

- The arch holding the solar panels needs to be replaced (3,000 euros). We might do this ourselves because there’s an existing one, but Nico doesn’t think it’s sturdy enough to support the solar panels and the dinghy.  

The biggest cost will be replacing the standing rigging—we’re getting quotes, but it’s likely around 8,500 euros!  

We also need to replace the mirrors on the boat, which is surprisingly expensive—more than the portholes! We might not replace all of them, especially since we’re not using the bathrooms yet. Standard mirrors cost 700 euros for seven, but we’re considering acrylic ones instead (estimated: 300 euros).  

Finally, we need to replace all the halyards. We’ve changed some already, but Nico wants to replace them all (around 600 euros).

If we add another 10,800 euros to the refitting costs (not including the arch we might do ourselves), we could end up slightly over budget.  

Let’s see how it goes!

So far, for March, we’ve spent 62% of our budget.  

I’d say we’re on track… but of course, at the beginning, you’re always on track! :)