Join Date: Jul 2010
Location: Gig Harbor, WA
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Don't forget the costs of a purchase and sale.
Let's say that you were able to sell your existing boat for the same $10k that you wanted to spend on the other boat. The broker fee (assuming you used a broker to help with a quick and clean sale) would cost you $1000, so you would net out only $9k from the sale. When you purchase the new boat you would most likely pay sales tax, I don't know what that is in TX but figure at least $500. You would need a survey, so $600-$700 plus haulout, so maybe as much as $1000 there.
So, even if you bought a boat for the same price that you sold your existing boat, you still will have to shell out a couple thousand dollars just to handle the transaction.
M/V Kinship, North Pacific 43
S/V Legacy, Catalina 400 MkII, Hull #328