[TSOJOURNER]

With the economy the way it is.... I was looking at buying much more than I would have in the past... Do you think this is a good time to by a sail boat or should I wait... The general cost is a little too much but people are dropping their boats like flies right now... I want something for my wife and kids to enjoy on the Cheasapeake.... Should I wait a little longer???

 

[DrB]

Standard Answer.... Depends

First there is no wrong or right time to buy a boat as far as the economy. There are so many factors in involved. There are ALWAYS great deals no matter what the economy is.

However, there is a wrong time for you to buy a boat. If you're not really financial able to "weather the storm" with additional costs of boat ownership, then you need to really think hard about it. If you work for living, can you afford the boat if you suddenly are not working for a period of 3, 6, 12 months. If the answer is no, think hard about it.

From your post,

The general cost is a little too much but people are dropping their boats like flies right now..

means to me that it may not be a financially sound for you. Don't forget buying the boat is only about half the cost of the boat ownership. Case and point:

My Boat Loan is $227/mo for 7 years. Insurance, mooring fees, launch service, taxes, maintenance, winter storage add up to about $4000/year or $330/month. So it actually costs me more to own the boat month -to-month than it does for me to buy the boat.

DrB

 

[tommays]

Well

I stick with a J24 because it is easy to bring home every winter and not deal with boatyard BS

I could afford a bigger boat BUT dont enjoy the massive amount of extra money it cost once it has to be kept in a Long Island boat yard

 

[chucklesR]

Scott,
Keep in mind that the true cost of ownership is not the price of the boat, it's the slip, the maintenance, the upgrades, fixes, insurance etc.

 

[k1vsk]

The reality is that you likely won't find a better buyer's market than today. At the St Pete boat show last month, the deals to be had were incredible and the broker's were practically begging buyers to sign up. If you can afford it, as the saying goes, "buy low".

 

[AjariBonten]

Buying low is one thing; but being READY to buy is more important

 

[14432]

All previous posts are spot on. One thing you did not mention is how much of the Chesapeake you want to "enjoy". A trailerable boat (pocket cruiser) may make a lot of sense. Daysailor as well. Either has less ownership costs.

 

[mrwuffles]

Well

I stick with a J24 because it is easy to bring home every winter and not deal with boatyard BS

I could afford a bigger boat BUT dont enjoy the massive amount of extra money it cost once it has to be kept in a Long Island boat yard

Yay LI boat yards!!!!! but it is nice to keep a boat in the backyard, ill see ya out there next summer tommays!!! Im from right behind bird island

 

[SOUNDBOUNDER]

Scott,
Keep in mind that the true cost of ownership is not the price of the boat, it's the slip, the maintenance, the upgrades, fixes, insurance etc.

Bingo!!!! I know it is obvious to us, but I think many new buyers are not aware of that.

 

[SOUNDBOUNDER]

Yay LI boat yards!!!!! but it is nice to keep a boat in the backyard, ill see ya out there next summer tommays!!! Im from right behind bird island

Where is Bird island??? Northport????

 

[mrwuffles]

Ya way back instead of goin left for brittania you go right but it can get shallow, where are you?

 

[SOUNDBOUNDER]

Ya way back instead of goin left for brittania you go right but it can get shallow, where are you?

I am in Connecticut, but I have anchored quite a bit in Northport near Prices bend and have had a guest mooring at Northport YC and Centerport YC. I also have been into the Eatons Neck basin and Lloyds Harbor quite a few times. I only have been into Huntington Harbor twice. One time we had a mooring at Coneys right off some night club, and I couldn't sleep all night. Stayed at Huntington YC once too.
Great area!!!!
I have never been into Duck Island or Duck Harbor (whatever it is called).

 

[mrwuffles]

You were probably next to the Harbor club I'm not surprised it was loud, I call it Duck harbor it is nice and quiet but it can be shallow on the edges and the cop there can sometimes be cranky. I am actually friends w/ The coneys kids. It is a great area it is protected and we can go sailing in comfortable winds when theres 3's blowin off the sound. Never heard of prices bend......where exactly is that theres so many names for the same thing around here it gets confusing.

 

[CalebD]

Wade/Wuffles,
I looked up Bird Island, NY and it shows up in the Niagara River by 'the Falls'. 'Bird Island' must be a local name for some feature in Northport Harbor? Is it a sandbar/shoal that comes out a low tide where the birds hang out? I know that we have a tidal range of around 8' in Lloyd Harbor with an island or two that appear only between mid and low tides. I guess I need to check a nautical chart of Northport Harbor.

D'oh! I just checked a nautical chart and sure enough, when I zoomed in to Northport Harbor Bird Island shows up: NOAA So there are actually 2 Bird Islands in NY State one in the east and the other is way west. It just goes to show that for nautical matters you really need a chart - not a map from google maps. I have never seen this feature because I have only been to the mouth of Northport Harbor in my Lightning and have never gone that far up (south). It does look pretty shallow. I would be dragging some center board in my Lightning in there. Fortunately it can be raised bit by bit as each scrape indicates that the depth is decreasing.
Yet another LI location for the SoundBounder to check out.

 

[Bene505]

All that said, if you can handle it money and stability-wise, now is a great time to buy a boat, especially if there is that intrinsic value -- that you love being on a sailboat.

 

[TSOJOURNER]

Thanks for all of the thoughts. I used to own a powerboat several years ago and I found out all of those "little" additional cost. I do need to really think about the size because in the past...I had the choice to bring it home in the winter if I wanted too. Sailboats are a little different and paying for a slip year round is a good bit which is why there seems to be alot of people really wanting to get rid of them right now.

 

[mrwuffles]

Wade/Wuffles,
I looked up Bird Island, NY and it shows up in the Niagara River by 'the Falls'. 'Bird Island' must be a local name for some feature in Northport Harbor? Is it a sandbar/shoal that comes out a low tide where the birds hang out? I know that we have a tidal range of around 8' in Lloyd Harbor with an island or two that appear only between mid and low tides. I guess I need to check a nautical chart of Northport Harbor.

D'oh! I just checked a nautical chart and sure enough, when I zoomed in to Northport Harbor Bird Island shows up: NOAA So there are actually 2 Bird Islands in NY State one in the east and the other is way west. It just goes to show that for nautical matters you really need a chart - not a map from google maps. I have never seen this feature because I have only been to the mouth of Northport Harbor in my Lightning and have never gone that far up (south). It does look pretty shallow. I would be dragging some center board in my Lightning in there. Fortunately it can be raised bit by bit as each scrape indicates that the depth is decreasing.
Yet another LI location for the SoundBounder to check out.

There is a trick to getting back here if you go the right way youll be fine theres a channel but you have to line up with a chapel and a sign and stay, but it cant be done at dead low, surprisingly theres a 58 searay stinkpot back here and a big steel sailboat about 45 feet but its abandoned plenty of sailboats come and go.

 

[tommays]

I see your talking about the bird island down buy britannia yacht center it is really shallow now even on the good side as they cant get dredge permits

The east side marks are kept up buy locals the west side on the chart is WRONG

 

[SOUNDBOUNDER]

I see your talking about the bird island down buy britannia yacht center it is really shallow now even on the good side as they cant get dredge permits

The east side marks are kept up buy locals the west side on the chart is WRONG

What is in that marina down there?? (east of the island)
Just small powerboats???

 

[tommays]

Its is mostly BIG boats that have to be really carefull at low tide


They chased out the normal folk when the raised the 08 slip fee to 5000 DOLLARS MIN