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  #41  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

My first boat was a "loaner" from my brother. He couldn't make the payments on his new(er) sunfish when he was 19... so I got it from him for the summer while Dad made the payments (boon for me)... I was 10.

My second boat was purchased as a sears overstock for $100. Brand new Sea Snark (styrofoam)... For the record, that was 1982. Also for the record, that is STILL being sailed. YEP you heard me, my brother (irony) has it in his possesion, and he had to make a new sail for it about 10 years ago. But the boat still sails, and still floats. It's go about 40 acres of dings in the foam, but it'll never sink! So yeah 30+ yo styrofoam sailboat still working.

My 3rd sailboat I bought myself when I was 28. I paid $2200 for it and put it on a credit card (yep)... I sailed the heck out of that Capri 14.2. Trailered it all over. When I finally sold it, I gave it away (not for any other reason but I needed the cash)... for $800 boat motor, battery, trailer, sails (and it was nicely equipped).

In 2010 I bought my 4th sailboat, a Capri 22. My wife handed me cash to buy it... it was cash she got from a cash out of her 401k to pay off some bills, and pay off the IRS for a huge income tax bill I got for doing a lot of work on the side (making too much extra cash)... It was $5000 (actually $4800 plus gas money to up state NY in my truck). Yep break the bank for a 22 footer.

Last year I turned around that $5000, and sold the boat for $5500, and put another $500 towards an upgrade to a 25 footer.

My point is... you can work your way up fast if you want. It doesn't have a cost a lot of money.

The numbers quoted here for an escape or a hobie seem high. Craigslist is your friend, find something used, but serviceable if you have the $$ in hand and buy cheap (its still a buyers market)... you can get an awful lot of boat for very little $$ now.
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  #42  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

I moved to downtown Chicago. Live in a small one bedroom apt (by the lake) and sold my car. My total transportation costs for the month are $86 for my CTA pass. Basically, I traded in a car for a boat (no more buying gas, insurance or paying for a parking permit/garage). Considering what owning a new car costs, you can get a pretty nice boat if you go this route :-) Granted you have to live in a major metro area to do it.
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  #43  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

It never would have occured to me, fresh out of school, that I had the right:
* old car
* student loans
* build some safety net
* ratty furniture
* appartment

My first boat was a used beach cat. You need to think smaller. If you need to think about getting the money fresh out of school, you need to think about something else, something important.

Go small. Go with the dingy and learn to sail well first.

My current boat? Work hard for 25 years. My belief is that cars and baots are purchased with cash and only homes are financed.
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  #44  
Old 12-11-2012
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How did you get the money for your first sailboat?

This is a fascinating thread in that it tells me that there as many ways to get into boating as there are people. If one loves it enough, a way will be found.

Also interesting is that no one was handed a silver spoon. Everyone started small and worked up as income allowed. It rankles me how people outside the boating community often consider us "wealthy". While that may happen eventually, experience shows me that love of the water is the common denominator regardless of income. Most boaters are normal people. Even power boaters.
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Last edited by Sabreman; 12-11-2012 at 04:48 PM.
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  #45  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

Forgot to mention that when I return to Savannah I will transport the sailboat back with me and hand it over to my son... he will then have a story to tell his friends and others how he acquired his first sailboat... cool way and it saves him money by learning to sail with his dad on his own sailboat...
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  #46  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

Quote:
Also interesting is that no one was handed a silver spoon Sabreman
My wife was. Dont take this the wrong way as I have the utmost respect and admiration for her and what she has accomplished and learned about boating in the last 10 years,
She goes offshore every year now to LI Sound and New England, has cbartered in the Carribean and in Long Beach California.

I only met her 10 years ago and been married 8 years, She didnt even swm when I met her let alone sail.

Donnas first boat...is our 35 C&C. When ever she mentions the "room" factor I remind her she started with the "silver spoon" a 35 footer and didnt come up through the ranks.
I love her just the same
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  #47  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

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Donnas first boat...is our 35 C&C.
That's cheating. Ok. NEARLY everyone started without a silver spoon....

Vicky's firs boat was our little GP-14. It's the same type that my dad built when I was 9. It's what I learned on, so I figured that it was good enough for her. So we found one and bought it as our first boat back when we were in our 20's.. so long ago. Soloing for her consisted of me jumping overboard in OC bay ... she really cussed me out

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  #48  
Old 12-11-2012
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Re: How did you get the money for your first sailboat?

Quote:
Originally Posted by IamJohnGalt View Post
So starting to really think I need to get a boat and just sail over doing all these courses, but being a full time student, money is an issue.

How did you come to take ownership of your first boat, and what do you suggest for someone looking to get their first? (Still want a contessa 26 or 32)

-Snow laden economics major, sailer to be.
As a student, you may not yet be married or engaged. If you are, having a SO who is at least half as interested in sailing as you can make all the difference. My plans were to wait until the kids got out on their own then sell the house and buy a boat. In retirement I would live on it. My SO had other plans, though that didn't come out until the 11th hour.
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Re: How did you get the money for your first sailboat?

Quote:
Originally Posted by SHNOOL View Post
My second boat was purchased as a sears overstock for $100. Brand new Sea Snark (styrofoam)... For the record, that was 1982. Also for the record, that is STILL being sailed. YEP you heard me, my brother (irony) has it in his possesion, and he had to make a new sail for it about 10 years ago. But the boat still sails, and still floats. It's go about 40 acres of dings in the foam, but it'll never sink! So yeah 30+ yo styrofoam sailboat still working.
I had a friend who won a styrofoam boat. It was really a lot of fun. It was from a Kool cigarette promotion, so it had the logo on the sail, but we did not care, we were 16 and had a sailboat that no one cared if we messed it up!
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Old 12-11-2012
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Re: How did you get the money for your first sailboat?

Everyone can find the funds for what they really enjoy. For some people it's a Harley, a bass boat, home entertainment, muscle car, photography... I'm sure there are people out there with more money wrapped up in camera gear than I have in the boat. Everyone has their passion.

I agree with the comment about boats not being bought on credit. There's so much else to spend money on I couldn't imagine a monthly payment on top of it. Granted, I don't live aboard like some of you, so offsetting rent, lease, or mortgage for a boat payment would make sense and be justified for you.

I also agree that there are some gems on craigslist for a competitive price (just be selective and contract important things in the bill of sale, "working outboard" with some language about seller's expense. If they're not willing to do that, then use that to leverage negotiating a lower price in case you have to spend money to throw a motor on it). At any rate, I'm sure there is a mountain of advice on the boat buyer's section of SN.

I personally went in half with a family member to get our boat. It's co-owned and we split the slip fee and insurance, which makes a huge difference in ownership costs for both of us. We'll probably sell it and upgrade at some point, or one of us could always buy out the other. It was owned by an older guy that had it for years and years and loved it but had bilateral shoulder surgery and couldn't sail anymore. She needed cleaned up as it wasn't sailed that much over the past couple years. Our sweat equity has REALLY paid off (redoing the interior, teak/woodwork, and making some minor repairs). In fact the insurance wanted pics because our purchase price was $10k less than what they valued it.
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