Join Date: Apr 2006
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Ture, but real estate markets often appreciate, or overappreciate, while boats tend to be more expensive just to own. Prime yard rates, insurance, water always finding a way to get in, and the selling price rarely is going to go up 25% or 50% in five or ten years, as real estate sometimes does.
When they say multiple owners have spent 15 years doing restoration and maintenance...and the boat still needs major work and has spruce sticks, which need constant varnishing and maintenance or else they'll find a fast way to rot apart and require expensive replacement?
Boats are like prime steak or ripe fruit. Use it and enjoy, or don't use it, but either way it isn't going to get any better after too much time on the shelf.
The real estate has a lot more investment potential. Matter of fact...sell the boat to the best offer, put the money into depressed housing. I know, real estate can be a tear-down money-pit also, but if the goal is to SELL something...why not sell it and stop the yard bills? Or at least, be brave and put a price on it, instead of asking for offers.