How many here have a boat?

D

dwk

Recycles dryer sheets
Joined
Apr 22, 2005
Messages
58
I'm in the process of buying a boat and got to wondering how many here have one. For certain a boat is a money drain -- and the bigger the boat, the bigger the hole. It's not a question of justifying the purchase -- the enjoyment of fishing, crabbing taking the grandkids out for shelling, a sunset cruise...is priceless.

But, it is not an insignificant expense. Even buying an older (used) boat to lessen the effect of depreciation. The purchase will not delay my entry in early retirement.

I have some expensive hobbies and this is one. I recently gave up my salt water tanks, primarily because of the commitment required and the impact of being able to travel for long periods of time. While I miss the beauty of the tanks, I'll admit having $3,000+ per year for savings is a great feeling.

Trying to be objective about owning a boat -- financially it doesn't make sense. But we make these choices all of the time. I've had a boat of some sort most of my life -- its part of who I am.

So for the boaters out there -- how do you approach boat ownership?

dwk
 
We bought a boat (small one), then sold it. :)

PITA to tow and launch. If we had the inclination and extra bucks, we would get another one, but only if we had a slip.
 
I owned a 22ft sailboat about 15 years ago. I bought it used and sold it for about the same amount that I purchased it. I kept it in a slip so I had those fees, plus insurance and upkeep for the 3 years I owned it.

I found that I could not use it enough to justify owning it. Of course I was working at the time and the boat was docked about 25 miles from where I lived (not convenient for a quick trip).


My opinion is: Unless you are absolutely sure that you will use it frequently... consider renting a boat instead. Or identify a friend that has a boat and pay for the fuel. My expereince was that boaters are often looking for people to share in the boating experience. 8)
 
I love having access to a boat but hated owning one (23 foot Rinker cuddy cab). It was just more worry and hassle than it was worth. I wish I had a friend with one convenient to my river house -- I do like to head out trolling early in the morning when the Rock Fish are running.

It will be a lot easier if your are mechanically inclined and like doing the upkeep.
 
I plan on buying a $200 used jon boat or canoe since I live on a lake.

I used to want to buy a sailboat. For now, I'm putting that off at least until FIRE. I've never really been on a sailboat and I don't know how to sail, so I'd have to take sailing lessons and charter a boat a couple times at least before I decide to buy one.

Or find a friend that needs a hand with his sailboat. ;)

Right now I know I wouldn't use it more than a few times a year due to work and kids. Maybe when I have 365 Saturdays per year I can up my "utilization estimate" by a few dozen. I'm still trying to sell DW on the benefits of owning a sailboat...
 
I have a 27' sailboat. I live about 4 blocks from the harbor so I thought I'd give boat ownership a try. I joined a golf club so I don't get out much anymore. The slip fees and insurance bills keep coming though.

The problem is it's no fun for me to go out by myself so you have to find others who also have the time. The wife will go out but she goes to sleep once we pull out of the slip and after about an hour she's ready to go back in.

And I still want a bigger boat. :D
 
Thank goodness this is one bug that never really bit me hard. I have always had friends with boats, so for just bringing the cooler, rods, bait, helping with fuel and helping do scrub downs, I have always had all the fishing and pleasure boating I can stand. Even did the Bimini big tuna tourney as angler, and bummed from the Tortugas up to Stuart... after 18 years in Florida, though, I pretty much don't feel the urge any more.

I used to like sea kayaking... but that can be pretty cheap.
 
Soon to be ex boat owner .The maintenance was brutal .I still have a kayak and a canoe .
I'd rather spend my money on travel than boating .
 
Boating is a progressive disease. After 20 years in boating I now own my 5th boat. I have a 47 Bayliner Pilothouse. Its beautiful and after I retire, DW and I intend to circumnavigate the Great Loop in 2008-2009. And yes, it is maintenance hungry, so I have to allow for that expense in my budget. :eek:
 
Moving to Lake Ponchartrain in 1979 - we had a flatboat and a runabout that stayed on the trailer never running anywhere. After a couple years got rid of them. Rode in my neighbors boats from then on - waaaaay cheaper.

heh heh heh heh heh heh - also had friends who sailed the Gulf - got caught helping with maintenance a few times - that cured my brief sailing ambitions. Love sailing - on someone else's boat.
 
2004 24 ft Albemarle Center Console that we got used (1 yr old) - hasn't depreciated, so got a good deal on it. We use it 9 months out of the year and we're not even retired yet, so we're definitely getting our money's worth.

Last Fall, however, we decided to also buy a 13ft 1963 Whaler for $500 from a neighbor's 14 year old kid. Got a brand new 2yr old Honda 4stroke, approx $600 on paint, rub rails, brand new whaler stickers and A LOT of hours sanding and painting and sanding and painting and sanding.... in short...wouldn't sell this boat for double the amount of money we put into it!!!

It was really neat (definitely not when we were putting on the rub rails!) to be able to completely rebuild an old boat and have lots of strangers admire your hard work. We get more comments about our little 13ft boat than the fancy expensive boat....not to mention that this boat is a lot of FUN! Our plan is to keep the whaler and sell the Albemarle when we retire. The smaller boat can easily be towed and if something breaks, we can fix it ourselves! ;-)
 
I had a couple of GFs whose father's owned boats. That swore me off boats and their costs. We did have a good time but it was expensive. Put me in the No column.
 
Ah, yes, the boating life! We've owned boats for years, starting with a Hobie cat, a couple of creek boats, a trailer sailor, and a 28 ft sailboat we lived aboard in the Bahamas for a summer in 2003. We sold that boat last year, and the financial reality is tough to hide.

We are trying really hard not to look at boats until we meet our FIRE goals (when my DH turns 50, in 5 years). We want a trawler, and I spend dangerous time looking at boats on yachtworld that would be perfect. Once he isn't working, he will have time to devote to maintenance, upkeep, and time to play on it, even though I'll still be working (for a few more years after he retires).

I think you should always go with less boat than you think you need--if we had put more money into the 28' boat, we probably couldn't have afforded to quit working and go sailing, which started us on the FIRE dream.

Hold out as long as possible, then dive in--even if it is a money pit, try to pack in lots of fun between those two happy days--they day you buy it and the day you sell it! Best of luck!

Sarah
 
I have several lakes around me....bought a used john boat to get out fishing.....not sure if I can justify more boat unless I am fully FIRED and have plenty of time to go out several times a week...

I like everyone else's advice...find a friend with a boat ;)
 
I feel the same way about big boats as I do about dogs. Love 'em, but can't justify the hassle of owning one.

I just pet other people's dogs and boats.
 
TromboneAl said:
I feel the same way about big boats as I do about dogs. Love 'em, but can't justify the hassle of owning one.

I just pet other people's dogs and boats.
Click to expand...

Since I apparently "found" a second dog last week, I just put my boat up for sale.
 
My wife and I are boaters. We have a 28' foot Grady White Sailfish. We have had several boats before this one. We love to fish, dive, and just boat ride. We also spend the weekends on it when the weather is right. It is always a sad time of the day when we have to return to our slip. My wife would gladly sell the house and move on to a large boat to live.

We live in Pensacola and are just a few minutes from the marina - which makes it convenient.

Yes it is expensive and yes it requires maintenance. I think it is critical that you and your spouse should really want a quality boat to justify the expense and maintenance requirements. Most of the time we will choose to go out on the boat for a few days instead of traveling on land (or in the air).

All the kids are grown, educated, and married. We both work with decent jobs and are still planning to ER. If owning a boat would eliminate our ability to ER then I might reconsider and stick with a smaller boat.

If I did not have a boat, then I would be looking for one. :)
 
Let me start by saying I know almost nothing about sailboats.

Boat people - here's some boat questions for you. I know there will be many answers and it will be hard give me a realistic answer, but I'm just asking for a ball-park guesstimate.

Let's say I get a sailboat - maybe a ~35' or so. Let's say it is 5-6 years old, and costs around $100,000. The only brand of boat I've ever really researched is Dufour - and from a quick internet search, it looks like I could find something I just described. (I don't really care if Dufours are any good, since I'm years away from buying anything - so no "OMG Dufour is for dufuses" comments ;) ).

What will my estimated costs be? I'll pay cash for the boat. Slip fees, insurance, average annual maintenance for this type/age boat, operating expenses (gas is the biggie), etc.

Would it be realistic to live on this type of boat for a few months or a year with me and my wife (I know it is cramped, but could you, as a boatlover, live on this type boat)? How about with my two kids?

Is this type craft oceanworthy - ie - could I go along the eastern seaboard and to the Bahamas? Circumnavigate the globe?

My idea is that I may get a sailboat after FIRE and live on it. I'm planning on setting aside $12000/yr for "travel/vacations". If I don't get a boat, this will be money spent on vacations. If I do get a boat, will my $12000/yr budget cover the boat expenses and operating costs? I'm interested if my plan is feasible, or whether the numbers are way off what is reality.

Told you I didn't know nothing about boats...
 
Hey Justin--when we get the trawler, y'all come down and cruise with us in Charleston and see how you like the lifestyle!

The answer is, it depends. We lived aboard the 28' (it was snug) for 3 months. It cost only $13,500. When we get ready for the trawler (slow powerboat) we hope to keep the cost in the $40k range (Marine Trader). I have no experience with the boat initial cost and age you are talking about--I am strictly a 1970's era boat owner. I honestly can't imagine paying that much for a depreciating asset! :D

The older you get, the more space/comfort you need, and sailboats have less beam (width) than power boats. But, fuel costs are greater, so there's a tradeoff. The higher the initial cost of the boat, the higher all other fees will likely be. The bigger the boat, the harder to handle, too. Try checking out some books by Don Casey, he's a great author with a healthy perspective on costs of boat ownership.

Insurance, taxes, slip rental, fuel, upgrades, maintenance are also a bit flexible--how much of your own bottom painting can you do, etc? I would recommend that you spend a couple of vacations doing bareboat chartering (the Abacos in the Bahamas are great) with the family and seeing how you all like it. We saw a lot of young families doing this when we were there. And loved drinking a cocktail while watching them drop anchor...and drop anchor...and drop anchor, cussing all the while! :D

The kind of boat that is great for family cruising near home is a completely different from the ocean passagemaker type of boat. You need to determine what your realistic uses for the boat would be, and buy that boat. It is easy enough to take just about any seaworthy boat down the ICW and then a day crossing to the Bahamas from West Palm Beach, but open water passagemaking to Bermuda is a totally different animal. My DH would love to do a circumnavigation, but that boat is so specialized, and so expensive, that we would not want to justify the cost for a 2-3 year experience that might not be all that and a bag of chips for me.

You are smart to start asking questions now, and the brand chatter is not relevant yet, just tune it out! Try out a lot of boats, walk a lot of docks, read a lot of books!


And hey, totally off topic, have you been to the Hideaway BBQ in Raleigh? My favorite singer/songwriter Chris Knight is playing there the end of the month. We are going to see him in Charlotte and thinking of making a weekend out of it. Long way, though!

Sarah
 
Hey Justin,

I don't know much about sailboats but DW does. She used to race on a team. She says they are way too much work. I don't know but I thought one would be fun.

Slip costs on a 35 footer in Pensacola would run you $300 - $500 per month - depending on the Marina. WHile you are traveling you can spend the night on the hook, or go to a marina and rent a slip. Fuel would not be that big of a deal because the sailboats usually have a small diesel - just have a flexible time table - 'cause you are not going anywhere fast unless you have a brisk breeze. Maintenance ---well there are a lot of lines, sails, pulleys, etc. and don't underestimate what salt water can do to just about everything - especially electronics.

I like your plan it sounds like a blast.

Have fun!!
 
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