There is a saying in the yacht industry: a refit costs twice what you budget and takes twice as long as planned. That is only true if you go in blind. After overseeing refits on vessels from 42-foot sportfish boats to 130-foot motor yachts, I can tell you that the owners who get burned are the ones who never got straight numbers up front. So here are straight numbers.

Everything below assumes a South Florida refit (Fort Lauderdale, Dania Beach, or Riviera Beach yards). If you are hauling in the Caribbean or the Pacific Northwest, labor rates differ, but material costs are roughly the same. Southeast Florida is the refit capital of the Western Hemisphere, so these numbers represent the broadest competitive market you will find.

Understanding Refit Scope: Cosmetic vs. Mechanical vs. Full

Before diving into numbers, we need to define what we are talking about. The word "refit" covers everything from a fresh coat of paint and new soft goods to a complete gut-and-rebuild.

Cosmetic refit: Paint (hull, superstructure, boot stripe), interior soft goods (upholstery, carpet, bedding), exterior cushions, teak refinishing, and brightwork. The boat looks new but the mechanical and electrical systems are untouched.
Mechanical refit: Engine overhaul or repower, generator service or replacement, running gear work, HVAC replacement, plumbing systems, watermakers, stabilizers. The stuff that makes the boat work.
Systems refit: Electrical panel upgrades, rewiring, navigation electronics, entertainment systems, lighting conversions, battery bank upgrades. Often combined with mechanical work.
Full refit: All of the above plus structural work (deck core replacement, transom rebuild, stringer repair), layout changes, and potentially regulatory compliance upgrades. This is where you can spend as much as the boat is worth.

40-Foot Vessels: The Entry Point

A 40-footer is typically an owner-operated sportfish, express cruiser, or sailing yacht. Most refits at this size are driven by the owner wanting to keep a boat they love rather than buying new.

Cosmetic Refit: $25,000 to $60,000

Hull paint (Awlgrip or Alexseal): $15,000 to $25,000. This includes haul, prep, prime, and 2 to 3 coats of linear polyurethane. Awlgrip and Alexseal are the two professional-grade topside paints. Awlgrip is spray-only. Alexseal can be rolled and tipped by a skilled crew, which saves labor.
Bottom paint: $2,500 to $4,500 for strip (if needed), barrier coat, and 2 coats of antifouling. See our bottom paint guide for product selection.
Interior soft goods: $5,000 to $15,000. New salon upholstery, berth cushions, headliner replacement. Ultraleather is the most popular marine vinyl for its durability and feel. Real leather doubles the price and does not hold up as well in marine humidity.
Teak and brightwork: $3,000 to $8,000 for refinishing. Full teak deck replacement at this size runs $15,000 to $25,000 if the core is compromised.

Mechanical Refit: $30,000 to $120,000

Engine rebuild (per engine): $8,000 to $20,000 for a top-end overhaul on a Cummins, Cat, or Yanmar diesel. A full repower with new engines runs $40,000 to $80,000 for a pair of 400 to 500 HP diesels installed, including mounts, alignment, controls, and exhaust.
Generator replacement: $8,000 to $15,000 for a new Onan or Northern Lights genset, installed. The generator itself is $5,000 to $10,000; installation, exhaust, and wiring are the rest.
HVAC replacement: $6,000 to $12,000 for a complete Marine Air or Dometic system. Most 40-footers run 2 to 3 tons of cooling. A marine HVAC technician can advise on whether a chilled water system makes sense at this size (usually not, direct expansion is more practical).
Running gear: $3,000 to $8,000 for props, shafts, cutlass bearings, and struts. Michigan Wheel and Hung Shen are the common prop manufacturers for boats this size.

Full Refit: $80,000 to $200,000

At 40 feet, a full refit can approach or exceed the boat\'s market value. This is a labor-of-love decision. The math only works if the hull is a known good design you want to keep sailing or fishing on for another 15 to 20 years.

60-Foot Vessels: The Sweet Spot

This is where the refit market gets busy. A 60-footer is big enough to be a serious cruising yacht or charter vessel, and small enough that refit costs do not require corporate financing. Most 60-foot refits are driven by a purchase (buyer refits after survey) or a midlife refresh at the 10 to 15 year mark.

Cosmetic Refit: $60,000 to $150,000

Hull and superstructure paint: $35,000 to $70,000. At 60 feet, you are dealing with significantly more surface area, and the superstructure on a motor yacht adds complexity. Metallic and mica finishes add 20% to 30% to the paint cost. Alexseal has better color-match capability for repairs down the road, which matters on a larger vessel.
Bottom paint: $5,000 to $9,000 including haul-out, prep, and paint.
Interior refit: $15,000 to $50,000. A full interior refresh including upholstery, flooring (teak and holly sole or synthetic alternatives like Amtico), countertops, and lighting. Marine carpentry for cabinet refacing or layout modifications adds $10,000 to $30,000.
Exterior teak: $8,000 to $20,000 for refinishing. Brightwork on a 60-footer with a lot of exterior wood can run 200+ man-hours.

Mechanical Refit: $60,000 to $250,000

Engine overhaul or repower: $15,000 to $30,000 per engine for overhaul. Full repower with new MAN, Caterpillar, or MTU engines runs $80,000 to $180,000 for the pair, installed. This is where the yacht engineer earns their fee, because engine room access and integration on a 60-footer can make or break the project timeline.
Generator: $12,000 to $25,000 for a new unit installed. Most 60-footers run a 17 to 25 kW genset. Northern Lights, Onan, and Kohler are the big three.
Stabilizers: $40,000 to $80,000 for a new gyroscopic stabilizer (Seakeeper) or fin system (ABT TRAC, Naiad). Stabilizer retrofits are one of the most popular upgrades on 60-footers because they transform liveability.
Watermaker: $8,000 to $15,000 for a new Spectra or Village Marine system installed. A watermaker service tech can evaluate whether your existing system is worth rebuilding or replacing.

Systems Refit: $40,000 to $120,000

Electrical panel and wiring: $15,000 to $40,000. A full panel replacement with modern circuit protection (Blue Sea or Paneltronics) and rewiring to ABYC standards. This is where an ABYC-certified electrician is not optional. See our ABYC certification article for why this matters.
Navigation and electronics: $15,000 to $40,000 for a full Garmin, Raymarine, or Simrad package including MFDs, radar, sonar, autopilot, and AIS. Installation and integration labor is typically equal to the hardware cost.
LED lighting conversion: $3,000 to $8,000. Switching from halogen and incandescent to LED reduces generator load and heat buildup. Imtra and Lumitec are the quality marine LED brands.
AV and entertainment: $5,000 to $25,000. A proper marine-rated system with Fusion audio, an outdoor TV (SunBrite or Samsung Terrace), and satellite (KVH or Intellian) runs up fast.

Full Refit: $200,000 to $500,000

A full refit on a 60-footer is a 3 to 6 month project at a yard like Lauderdale Marine Center or Bradford Marine. Project management is critical at this level. If you do not have a captain managing the refit, hire a yacht management company to oversee the work. Their 10% to 15% management fee pays for itself in prevented scope creep and quality control.

80-Foot Vessels: Where It Gets Serious

At 80 feet, everything scales up: the complexity of systems, the number of subcontractors involved, and the coordination required. An 80-footer typically has redundant systems, multiple AC zones, bow and stern thrusters, and sophisticated electronics. The refit involves managing 5 to 10 different trades simultaneously.

Cosmetic Refit: $120,000 to $300,000

Paint: $70,000 to $150,000 for hull and superstructure. At this size, the boat is likely going to a dedicated paint facility. A 3-coat Awlgrip system with proper fairing takes 4 to 8 weeks. Paint alone can be the single largest line item on a cosmetic refit.
Interior: $30,000 to $100,000. High-end boats at this size have stone countertops, exotic wood veneers, and custom furnishings. Interior design and refit specialists handle the material selection and fabrication.
Exterior detailing and restoration: $15,000 to $40,000 for professional detailing, gel coat restoration, stainless polishing, and non-skid renewal.

Mechanical Refit: $150,000 to $500,000

Repower: $150,000 to $350,000 for a pair of MTU, MAN, or Caterpillar engines installed. At this size, engine selection affects classification society compliance if the vessel is classed.
Full HVAC replacement: $30,000 to $60,000. An 80-footer typically runs 10 to 15 tons of cooling across 6 to 10 zones. Chilled water systems (Marine Air or Dometic Cruise) are standard at this size.
Hydraulic systems: $15,000 to $40,000 for overhaul of the hydraulic power pack, steering, stabilizer rams, and tender crane.

Full Refit: $500,000 to $1,500,000

A full refit on an 80-footer is a 6 to 12 month project. At this budget level, you need a proper project manager and a yard with the infrastructure to handle it. Derecktor, Lauderdale Marine Center, and Rybovich are the established names. A full refit at this size often includes a survey and naval architect review before work begins.

100-Foot and Larger: The Big League

Above 100 feet, you are in a different world. These vessels are often classed (Lloyd\'s, Bureau Veritas, RINA), which means any major refit work needs to comply with class requirements and may require surveyor attendance during the work. Insurance underwriters also get involved at this level.

Cost Ranges

Cosmetic refit: $300,000 to $800,000
Mechanical refit: $400,000 to $1,200,000
Full refit: $1,000,000 to $5,000,000+

At this scale, the biggest variable is not the work itself but the management overhead. A full refit on a 120-footer involves 15 to 25 different subcontractors, thousands of purchase orders, and daily coordination meetings. The project management fee (typically 12% to 18% of total project cost) is not negotiable if you want the job done right and on schedule.

Big-Yacht Specific Costs

Classification surveys and compliance: $20,000 to $80,000 depending on class society and scope of work.
ISM/ISPS compliance updates: $10,000 to $30,000 for documentation and system updates.
Flag state inspections: $5,000 to $15,000 per inspection cycle.
Crew accommodation during refit: $2,000 to $5,000 per month. Crew cannot live aboard during major refit work (paint fumes, no AC, no water). Budget for apartments or hotel accommodation.

How to Manage Refit Costs

Here is what separates a successful refit from a financial disaster:

Get a proper survey first. A pre-refit survey identifies hidden problems before you commit to a scope of work. Spending $3,000 to $5,000 on a thorough survey saves tens of thousands in surprise change orders.
Write a detailed scope of work. Every task should be described in writing, with materials specified. "Paint the hull" is not a scope of work. "Strip existing paint to barrier coat, fair as needed with Awlfair, apply 2 coats Alexseal primer and 3 coats Alexseal topcoat in Snow White" is a scope of work.
Get three bids. For any job over $10,000, get three written bids based on the same scope of work. Bids in Fort Lauderdale can vary 30% to 50% for the same job.
Build in a 20% contingency. Not 10%. Twenty percent. Refits uncover problems. That is the whole point. If you open a deck and find wet core, you are fixing it. Budget for the unknown.
Do not change your mind mid-project. Change orders are the number one cause of refit cost overruns. Decide what you want before the work starts. Every change mid-stream costs 2x to 3x what it would have cost if included in the original scope.
Pay attention to yard overhead. Yards charge daily or monthly rates for blocking, crane usage, power, water, and waste disposal. A project that runs 2 months over schedule does not just cost labor; it costs another $5,000 to $15,000 in yard fees.

Choosing a Yard

Fort Lauderdale has more refit yards per mile of waterfront than anywhere in the Western Hemisphere. The major players include:

Lauderdale Marine Center (LMC): Full-service yard handling vessels up to 200 feet. Good project management infrastructure. Premium pricing but consistent quality.
Bradford Marine: Well-established with strong paint and mechanical departments. Handles boats up to 180 feet.
Derecktor Fort Lauderdale: Superyacht-focused facility. The go-to for vessels over 100 feet.
Rybovich (West Palm Beach): Legendary sportfish yard now handling larger refits. Strong reputation for hull and paint work.
Hinckley (Stuart): Premium yard focused on the Hinckley fleet but takes other high-end work.

For smaller vessels (under 60 feet), independent yards along the New River and in Dania Beach often provide better value with more personal attention. Ask other boat owners in your marina who they trust. Word of mouth is still the best referral system in this industry.

Frequently Asked Questions

Is it worth refitting an older yacht or should I just buy newer?

The break-even point depends on the hull and the market. A solid fiberglass hull from a reputable builder (Hatteras, Viking, Bertram, Ocean Alexander) can be refitted multiple times over its life. The general rule: if the refit costs more than 50% of the post-refit market value, you should seriously consider buying a newer boat instead. But there are exceptions. Some owners refit because they love a specific hull design and nothing new matches it. Others refit because the replacement they want costs $3 million and a $500,000 refit on their current boat gets them 90% of the way there.

How long does a typical refit take?

A cosmetic refit on a 50 to 60 footer takes 4 to 8 weeks. A mechanical refit adds another 4 to 8 weeks depending on parts availability. A full refit takes 4 to 12 months depending on vessel size and scope. The biggest schedule killers are parts lead times (custom metalwork, specialty hardware, engine parts from Europe) and weather delays for paint work. Build a realistic schedule with the yard before committing and add 30% buffer.

Should I stay involved during the refit or let the yard handle everything?

Stay involved. Visit weekly at minimum. A good captain or yacht manager should be on-site daily during active refit work. The yard project manager has 10 to 20 other boats to worry about. Your boat needs an advocate who is checking quality, verifying materials match the spec, and catching problems early. The best refit outcomes happen when there is a collaborative relationship between the owner\'s representative and the yard team.

What are the most common hidden costs in a yacht refit?

The four that catch people every time: (1) Yard overhead charges that were not in the original bid, including extended stay fees, crane charges for unplanned moves, and dumpster fees. (2) Subcontractor markups, where the yard adds 10% to 20% on top of subcontractor invoices. (3) Discovery work, which is legitimate extra cost when problems are found during demolition or disassembly. (4) Compliance upgrades required by the surveyor or insurance company that were not in the original scope. Always ask the yard for a complete breakdown of their overhead charges before signing the contract.

What Does a Yacht Refit Actually Cost? A Size-by-Size Breakdown