Join Date: Aug 2002
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Naive novice question re: buying a boat
I agree with the previous post. You''re looking for an picturesque getaway by the shore. While buying a sailboat seems like a very romantic idea, financially it will be like hiring a taxicab and instructing the driver to sit across town with the meter running because you think it might come in handy once in a while when you don''t feel like driving yourself. Sure, it will be convenient occassionally, but you''ll be paying for it whether you use it or not. You''ll eventually begin to hear that meter running in your sleep.
Even if you think you might be interested in sailing (and I don''t perceive from your post that you do), buying a used boat of questionable reliability with a spotty maintenance record from "casual" owners is asking for an expensive disaster and a strained relationship with your friends. A car that has been sitting "almost unused" in a garage for the last ten years may be a great find; but a sailboat is not like a car that sits in a garage relatively well-preserved. It requires a much higher ownership commitment to keep its value and protect your investment, and needs to be used regularly or it develops expensive problems (from non-use) and loses its attractiveness to potential buyers. Then you <em>will</em> have an albatros hanging around your neck. No insult to the current owners, (and at the risk of making a huge assumption), but if the boat as been "almost unused" for ten years, I question how keen they''ve been on maintenance (just the idea that the sea-cocks, the valves that keep water from flooding in and sinking your boat, may not have enjoyed regular inspection is downright scary).
$5k is only half of what you''ll pay over the next few years for all associated costs. That''s many, many hotel rooms in charming vacation spots anywhere you''d like, with all the amusement parks, museums and nice restaurants thrown into the bargain.
In short, a sailboat isn''t a very cost-effective weekend hideway retreat. The only reason for sufferning the expense of owning one is that you love sailing to begin with, and are willing to continue to invest even more money to keep it maintained and to use it as much as you can, because the meter runs 24 hours a day…