Advice request: hold out or get on the water now?

josrulz · #1 (**permalink**) 10-19-2008

Some of you may have seen the thread I posted about finally biting the bullet--we'd found a boat, but then things didn't work out in negotiations. Nothing's changed there.

So here's where we're at. We'd narrowed our "list" down to 4 boat models. Regarding the first three on the list, we have exhausted all possibilities (including that one that didnt work out) in our price range currently for sale within hundreds miles of home (and really nationally), either by personally viewing the boat or ruling it out based on other info/condition/other show-stoppers. However, there is an example of the 4th on the list not too far away, and it's in very nice condition, and meets our needs. And yes, we like it. It's just not the model we had at the top of the list.

So here's the question--do we "hold out" for one of our top 1 or 2 favorites? That could take a good while to find one in good condition--could be tomorrow or could be 2 years from now. Or do we go with a great boat now that's also on our list but wasn't at the top of it? We've already been shopping for 4 months, and while we're not in a rush, we also don't want to wait for years--we want to be sailing this Spring. It's one thing to hold out when you already have a boat, but we don't already have one.

I realize this is totally a personal choice here that I'm asking about. But I figured we're not the first people to be in this situation. Thoughts?
Thanks,
J

pegasus1457 · #2 (**permalink**) 10-19-2008

There are lots of boats out there, and with the worsening economic conditions, more and more are going to be for sale. There are people who
are going to find yearly boat ownership costs something they are going to have to live without.

So there will be more boats for sale next Spring than there are now.

Some boat owners will take a hit on the sale price to avoid paying winter storage costs. That is, if the boat isn't already on the hard -- in which case, it is too late for that to be a bargaining chip.

On the other hand, if you buy now, you have to pay for winter storage.

You should never buy a boat in a hurry. The down side of making a bad decision is unlimited expenses fixing up someone else's problem boat.

YMMV

josrulz · #3 (**permalink**) 10-19-2008

Hey pegasus1457, yeah, we're not in a hurry. We genuinely like this model a lot--otherwise it wouldn't even be on our list. And this boat is in really nice condition. So I don't think it would be a bad purchase decision (of course pending survey). And you're right we'd have to pay for winter storage, but on the other hand, we'd have a boat ready to go in Spring.

That's the rub. If we hold out and instead decide to buy in the Spring, it could take us several months to find one of the boats on our list again. Or of course we could find it right away. We just don't want to end up running into August before we're sailing, when we have a great boat available now. Downside is winter storage and the possibility that we might see our top choice boat for sale after we already have bought. Hmmm...

sanjuan2R · #4 (**permalink**) 10-19-2008

I agree with pegasus. Wait till spring to buy but continue your research this winter. Banks and marine loan agencies will be owning more & more boats as 2009 ushers in. They don't enjoy boat ownership just as they don't enjoy home ownership. Those are assets they don't appreciate being in possession of.

What were the top five choices on your list? Maybe you should expand the territory you are searching. I live in Oregon and found my boat in Calf. Why would you expect your boat to be in your own backyard? Sometimes it happens that way & other times not.

When you discover the boat for you, it will slap you hard - YOU will know it is the right fit in your life & budget. Take your time making your decision and know that it is for you.

When you know it's right - jump on it correctly.
And don't forget the survey, survey, survey!

Good luck.

S/V Doodles
C&C 27

camaraderie · #5 (**permalink**) 10-19-2008

WHY was it 4th on your list? Why settle? Lotsa time left till spring. If the boat doesn't excite you...take a pass.

eMKay · #6 (**permalink**) 10-19-2008

Why not get a little daysailer for now? That's kinda what I did. Oh, I looked up the Pearson 33-2, sweet boat! I'd buy one for sure if I wanted one that size. I like it better than the other ones on your list.

BarryL · #7 (**permalink**) 10-19-2008

Hello,

Can you provide a little more info on the boats on your list? What kind of a boat are you looking for: racer, cruiser, both, catboat, ketch, etc.?

I'm a little surprised that there are only four boats that you are looking for.

For me personally, I would take a good deal on a boat now over waiting for something to happen in the future. Life is short and I like to go sailing NOW.

I don't have that much experience, but from what I have seen, there really isn't THAT much difference between most boats. I am referring to basic, common, readily available production 'racer / cruiser' boats from the mid 80's. I can't see any MAJOR differences between Catalina, Newport, O'day, C&C, S2, Tartan, Beneteau, Ericcson, Pearson, etc.

Of course, if you are looking for something rare and different like a small yawl, etc, that is a different story.

Good luck,
Barry

Delirious · #8 (**permalink**) 10-19-2008

Here's what we did (and are doing). We narrowed our search down to a few specific models. Looked at dozens, and some we hadn't considered until the "what else have you got in this size" question after driving 300 miles.

I figure NOW is the time to buy one that needs work if you can lowball the price. That gives you all winter to get it ready for a spring commissioning. If you are looking at the higher $ end for turn-key boats then wait until spring and save the winter storage. BUT, if one you like is available now . . . Remember: "he who hesitates is lost."

We're actually looking for solid but cosmetically challanged boats. I figure there are things that need doing to make a boat your own so why change out good gear or fixtures? Find a solid one that needs those areas redone and you're killing two birds with one stone.

We have an accepted bid on a P31-2 that is the first sailboat for me ever that the surveyor liked better than I did as far as "essential repairs" and integrity. Needs a handfull of little things but the basics are sound.

Did someone say P33-2? I know where there is one in Rochester (CB version) that is a good deal if you like blue. As in deep blue cushions and head vanity. God, I'm sick of dark blue. Our Catalina 34 we ordered with all green just so it wasn't blue. This P33-2 needs some other minor work but I'd bid $39K on this one and see where it took 'ya. I've been on this one & poked in all the corners but THE ADMIRAL and I like the 31-2 better (mostly personal & subjective reasons . . . and a better PHRF).

1986 Pearson Sail Boat For Sale - www.yachtworld.com

Valiente · #9 (**permalink**) 10-20-2008

I am in the "keep searching, but wait until spring" camp. The boat will look worse in spring and might even smell funny. This is usually good for a few bucks. We saved about $10K this way by expressing interest in the fall and not seriously pursuing it until the Spring. We were told that there was "a guy interested in Chicago", but I knew that was unlikely to bear fruit November 1 in Toronto, and when I reconnected in May, not much had changed, except the price had dropped and I negotiated a further cut at sea trial for some minor stuff.

WouldaShoulda · #10 (**permalink**) 10-20-2008

We shopped two years for a boat!!

But when we found what we both wanted, we didn't hesitate.