How did you get the money for your first sailboat? - SailNet Community
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post #1 of 103 Old 12-10-2012 Thread Starter
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How did you get the money for your first sailboat?

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.
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Re: How did you get the money for your first sailboat?

Worked hard and worked lkots of overtime. My career and family the a house which can be an assset in most economies. came first so I settled for a hobie cat for 8 years, then a 25 footer, then a 28 footer, then a 35 footer.

I am conservative so I bought none on credit. I didnt go for immediate gratification as I had responsibilities so I defrred with a plan to work for in the future.

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post #3 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

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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.
Lived on half of what we earned and saved the other half. S'worked for us for 50+ years...

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post #4 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

Got the money for my first boat from the bank, then moved on the boat. Now the boat is paid for, oh I also have a house its on the water. Before you buy that first boat I would suggest you know what kind of sailing you want to do. Good luck.
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post #5 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

Had good jobs making decent money. Fiance was the same. Fiance wanted to spend money on a wedding. So I said sure. As long as I got to spend the equivalent on a down payment on a new boat. We were lucky in that we were in our late 20s and had great careers.
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post #6 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

While in college, I sailed on the inter-collegiate circuit and the family boat, then crewed on a Sabre 34, bought an old GP-14 to teach my new wife, then a Sabre 28, then a Sabre 38. All were bought used and I did my own work - all of it. That was what allowed us to afford a boat. Like Chef, we did this only after taking care of necessities - finishing our education, buying a home, and paying off cars. We also only bought what we could afford to maintain - we sailed for 20 years before we had A/C or pressure water. Also as Chef said, it took a lot of OT to get to this point, a lot of it.

Along with doing our own work, we keep scrupulous track of costs - no hiding anything. That is very important because while a lifestyle, boating is expensive and costs need to be managed. I would say that these two items are the principal reasons why we can afford a boat.

Use OPB's until you can afford it.
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post #7 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

Looked for a boat that was reasonably priced that I could sail and fix myself. Ended up with an Alberg 30 for under $5000. Have put another $3500 into accessories and new rigging. Kinda of pay as I go. Thats how I do it.
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post #8 of 103 Old 12-10-2012
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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)
As a student you may have some access to student body sailing clubs, which are the best deal around. The one associated with a local state college has student memberships that give you a year of unlimited access to boats for less than what I pay for a month of moorage.

The boat isn't the expensive part, you can easily find a 1970s 20-25' boat in safe enough condition to enjoy for a couple of thousand dollars or less. Frequent examples in Seattle would be Tanzer 22, Catalina 22, Santana 20, San Juan 24. The problem is the ongoing moorage costs. I'm going to guess that if you don't think you can afford the boat that moorage is going to be the real issue.

At my old marina (maximum boat size of 27') most of the boats were purchased for around $3000 or less, with the cheapest being $200 (but I didn't consider that boat safe) and the most expensive still being under $10,000. However everyone still had to come up with $2000-$3000/year for moorage.

The only way to make moorage cheap is through living aboard, and that has a different set of tradeoffs.
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post #9 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

I got my first big (not dinghy) boat after I graduated from law school. Everyone in my law school class was dropping 3k+ on Bar study courses. I decided self study and take the $$$ I had saved for bar prep and buy a boat instead. Got the boat (27 foot Oday) and passed the bar...

Honestly, the boat is the cheap part. I got the boat for 1000 and since then (three years ago), I'm sure I've spent 4000 on engine parts, winter storage, paint, supplies, rigging, etc... And I have a free mooring. I could spend another 1k+ every year if I had to pay to keep it...
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post #10 of 103 Old 12-10-2012
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Re: How did you get the money for your first sailboat?

Saved enough to buy a cheap boat by not doing things like going out drinking or dining out. Bought one I could afford, and afford to run. Still have it.
Turns out that despite what lots of sailnetters think, you don't actually have to start sailing on a 35ft boat.

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