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  #1  
Old 09-05-2011
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Question $200K or less - What to buy?

We'll be selling the house soon and are expecting about $200K in the pocket after the sale. We'd like to buy a boat for live aboard and want to spend no more than what the house sale nets.

There are two of us but may have occasional visitors. We plan on cruising the east coast and, as my partner's comfort level grows, we'll aim for the islands. I have over 8K miles sailing experience, mostly on the Great Lakes but I have sailed to the Bahamas and the Keys on my dad's boat. I have single handed a Columbia 45 in my younger days but am still in very good shape. I just turned 60.

The last time I was actively sailing was in the late 90's when I helmed my boss's Hunter 35 that we used for customer outings and day races.

I am mechanically inclined and did most of the maintenance on my dad's boat including electronics installations, repairing the generator and all engine maintenance. What I don't know I can usually figure out but I don't want to be a slave to maintenance and repair.

Last summer we took a day cruise in Newport (one of those per person, crewed, couple of hours things) and I told the crew I'm available to help if needed. They gave me the wheel once out of the harbor and kept it until we were about to dock. I guess I still have it. The crew thought so. So I'm not worried about the rust.

I'm thinking something in the 40 foot range. I like quality. I'm a perfectionist and I don't have a lot of patience with poorly made products. I want a boat I will love so it has to be made well. We'd like some comfort too.

Boats that look interesting have been a 1990 44' Hylas CC for $189K, a 1990 Freedom 45 CC for $159K and 1992 Island Packet 44 for $199,500. I'm not personally familiar with these builders but from what I've read all are well made and seaworthy boats.

Any input would be greatly appreciated as we'd like to educate ourselves as much as possible before we begin our search seriously. Thank you!
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Old 09-05-2011
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Old 09-05-2011
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JM,

I recommend you not allocate your budget entirely to the purchase price of the hull. Most folks find that keeping about 20-30% in reserve for initial repairs & upgrades is about right.

Depending on your anticipated income, you may also want to consider keeping some of that cash you get from the sale of the house in a cruising/maintenance/emergency fund. I think you're gonna find out that the purchase price of the boat is just the start of an unending flow of cash out of your wallet

Just a couple of thoughts.
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Old 09-05-2011
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C&C Landfall 38.
Then invest the remaining $150K.
If you put all of your cash into the boat, you will have a very nice boat and no cushion. No cushion means that your dream of sailing away often comes crashing down in the face of fiscal reality.
Schmidt happens. And, as we all know, life is basically a schmidt sandwich. the more bread you got, the less schmidt you gotta taste.
a Landfall 38 is a very nice boat with a ton of room, a decent sailor, and will leave you lots in your pocket to deal with the inevitable. More cash = more cruising.
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Old 09-05-2011
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Thank you for the replies.

As far as income, I have a pension of about $4K/mo and I have about $45K in a retirement fund.

I was trying to keep the age no more than 20 years or less. Past experience tells me lots of things can happen to a boat and not every owner takes really good care of their boat. Even a thorough survey can't find everything. So the less Father Time and Mother Nature have had to do what they will, the better.

How solidly built is the C&C Landfall 38? We'd be looking at a boat over 30 years old and that worries me a bit. Are the other Landfall models built pretty much the same?
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Old 09-05-2011
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Quote:
Originally Posted by JulieMor View Post
Thank you for the replies.

As far as income, I have a pension of about $4K/mo and I have about $45K in a retirement fund.
I'd definitely look at a less expensive boat. As blj mentioned, you want to make sure you've got a comfortable cushion to fall back on. At some point, you've gonna need to break out the crowbar and undertake an expensive repair (engine, tankage, etc) even if you defray the cost by DIY. If you have to raid the retirement fund to afford it, then you've got nothing left in reserve to live on in your far-off "golden years."

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Originally Posted by JulieMor View Post
I was trying to keep the age no more than 20 years or less. Past experience tells me lots of things can happen to a boat and not every owner takes really good care of their boat. Even a thorough survey can't find everything. So the less Father Time and Mother Nature have had to do what they will, the better.
While this is fine as a generality, in practice it's not always true. You can find trashed boats that are relatively new, and well maintained boats that are a bit longer in the tooth. All things being equal you pay a premium for a younger boat, even if said boat is a POS. The real challenge is in finding that 1% older boat -- well found and maintained, attentive owner, etc, etc. Unless you're in a hurry, you can find these out there.

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How solidly built is the C&C Landfall 38? We'd be looking at a boat over 30 years old and that worries me a bit. Are the other Landfall models built pretty much the same?
As mentioned above, don't let age be the primary discriminator. You seem to have enough experience to be able to assess common problems even before a surveyor is brought into the game.

Last edited by PorFin; 09-05-2011 at 06:32 PM.
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Old 09-05-2011
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Quote:
Originally Posted by JulieMor View Post
How solidly built is the C&C Landfall 38? We'd be looking at a boat over 30 years old and that worries me a bit.
Jack likes them.
BoatUS.com: Boat Reviews by Jack Hornor, N.A. - C&C Landfall 38
Frankly,I'd rather buy a freshwater 30 year old boat than a 20 year old saltwater boat- the "time-in-water" life is shorter and the annual maintenance is arguably better; if you haul your boat every season you are more apt to examine the seacocks, rigging, cutlass bearing etc. than a boat that lives in the water year 'round... and the sails, rigging, drivetrain all have half as much use and UV degradation, not to mention the damage caused by saline exposure.
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Old 09-05-2011
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Schmidt happens. And, as we all know, life is basically a schmidt sandwich. the more bread you got, the less schmidt you gotta taste.
Easily the greatest sequence of words ever assembled.
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Old 09-05-2011
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I'd agree with not setting the actual purchase budget to match the net sale of your home.
Keeping $ in reserve to fit out the boat the way you want it is smart. So $140,000 to 160,000 would be a good target. You might want to update electronics, or new canvas, dinghy, motor? Davits, who knows... Plus, you have sales tax to pay, insurance to obtain, etc. etc.

A couple of other things to think about if your goal is to cruise the East Coast of the U.S. and the Bahamas.

1.) draft...If you want to do parts of the ICW and get into some of the nooks and crannies..of the East Coast, I'd try to keep my draft under 6 foot...I draw ...3'11" with the centerboard up. If you can do the ditch, you should be able to do the bahamas..5' or under is probably best imo.

2.) Bridge Clearance. You'd want to keep your height @ or below 64 ft. for the ICW...even at that there are a few 55' bridges....Cape May Canal is one..but you can go around and up the Delaware bay......then there's ..Ft Lauderdale....etc...

I like the Sabre 362's Smaller than you wanted, I spotted a few on Yachtworld...one in your neck of the woods...a fresh water boat!
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Last edited by Tempest; 09-05-2011 at 07:18 PM.
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Old 09-05-2011
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Quote:
Originally Posted by bljones View Post
Schmidt happens. And, as we all know, life is basically a schmidt sandwich. the more bread you got, the less schmidt you gotta taste.
You want a beer with your sandwich?

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