Should I buy another Boat or save for Cruising?

[bigjer40]

Should I buy another boat???

Hello fellow sailors. I respect and appreciate all of your opinions and have been helped so much by all of your advice. That is why I am asking for help with planning my cruising future. My wife and I will retire in 13 years with public/govt retirements and def comp for each of us. I will be 53 and my wife will retire early at 57. Retirement looks ok, with the exception of medical insurance. I have no idea what that will look like. I am currently without a boat and am questioning if I should buy another boat to further develop my sailing skills here in the Pacific Northwest or pocket as much money for cruising. I honestly can’t imagine not having a boat, but I do have some options.
1) Don’t buy another boat and put as much money away for cruising as possible.
2) We have a local sailing club here that has boats in three different areas. Dogs not allowed and our dog goes everywhere with us. Plus, not taking the dog leaves us limited to day sails. Restricted on how long can have the boat, but the cost is $184 month. No worries about fuel, maintenance, or insurance.
3) Buy a boat and enjoy it. This doesn’t make the most financial sense, but there is no guarantee I will live to see retirement. Would be a shame to bank everything on a life I never live. If this is my choice, I have to decide what type of boat to buy. The most I would sail would be offshore between Columbia River and Puget Sound.

I guess I am asking for different opinions on being a penny pincher for the biggest cruising fund, the middle ground of a sailing club but not as convenient, or the expense of having another boat. I want a boat, but when I look at the numbers, it is staggering and makes me feel irresponsible. This is my estimate and estimates from prior ownership.

No boat = 0

Sailing Club = 184 month for 10 years $22,080

30-36 ft. boat $30,000
30-36 ft. boat slip fee $250 mo. for 10 years $30,000
Insurance at $30 mo. for 10 years $3600
Maintenance estimated $3,000 per year X 10 $30,000
$93,600
The boat will still be worth something at the end of the 10 years, or maybe I buy my blue water boat now and I will know the boat inside and out before I cruise. If I do buy, this seems to make the most sense. Especially after having my last boat, we decided I will not buy another boat that I can’t sleep comfortably on. At 6’02” and someone who sleeps very restless, I need a big birth. I have been told I can’t look at a boat as an investment and to expect to blow money and have experienced this. I am however attempting to be a wise sailor that gets the most bang for my buck. I would appreciate any advice, especially from current or past cruisers with experience. Was there anything you wish you would have differently with your money???

[sailorboy1]

I think that unless you want to be able to sail more and further now, then don't buy a boat and instead bank the money and use the sailing club boats.

But if you want to sail more and further now, don't get a small boat with the thinking of replacing it later. Get the boat you want to end up with and use it and have your payments etc go toward that one.

[SaltyMonkey]

I'm sort of in the same position you are. For myself, saving money was the best choice. For you, my vote is either the club or buying a lesser boat. Why 36 feet? Why not get something smaller and cheaper, something you might trailer or pay less in maintenance and storage? Then 1) put your money to work. 2) When you get closer to your jump point you will have more money in the bank to buy a BETTER and NEWER boat.

PS: Unless you are willing to LIVE on a larger boat, it makes no sense to buy. Thats just my opinion.

[Cheechako]

You want to be sailing. The PNW is not the easiest kick off point for cruising though. SO..... buy an inexpensive boat that can be resold readily in 10 years or so . Probably a Catalina 30 or something popular. Then sell it and buy a boat in Florida when you are ready to retire! You need to hone your cruising skills for 10 years anyway! Why spend 22k on a sailing club whose boats are often poorly equipped and you cant take your beest friend?
There are somefractional owner deals around at times too. Buy a share in a boat if they will allow the dog?

[SaltyMonkey]

Agree with Cheechako but I would go smaller - pocket cruiser. Get something you could pop on a trailer in winter 22-27 ft

[Lake-Effect]

Whenever the choice is between sailing and not sailing (cos you're saving, or stuck working on a fixer-upper), I will always say sail! You will have fun now, learn stuff, and gain the contacts and experience that will make you much more savvy when it's time to get that retirement boat. Too many people bet the farm on doing stuff AFTER they retire, only to have health, fate, or an economic crisis take the dream away from them.

Tough call between joining a boat-owning club and using their boats, vs buying an inexpensive boat and trailer-sailing it or putting it at an inexpensive club or marina.

For the PNW, what's the smallest sailboat that would still be safe and that you'd be willing to spend up to a week in?

[Brilliant Sea]

It took me almost three years to find the right boat for the right money. I kept searching, looking and almost buying. I'm glad I held off on a few good boats until I finally found the one. So save your money for now and do some extensive research on boats for sale and you will know when and what to buy. For you I would be looking for 30-36 foot range. There are a lot out there and you should be able to get a pretty nice one for $20,000 tops. Sail that until your ready to retire, sell it and get your retirement boat. It's no secret on here that I paid only 15.5g for my 32' and it surveyed at 36g. You will always get your money back if you shop smart and keep the boat in good condition.

Good luck and go sailing!

[Cheechako]

Here's a fast 35 footer, (seattle) 1/6 ownership. $150 a month! Are they dog friendly?
http://seattle.craigslist.org/see/boa/4373793538.html

Here's a nice little Bayfield 25 in board diesel cruisier with trailer:
http://seattle.craigslist.org/see/boa/4372187687.html

[bigjer40]

WOW! Great responses and I appreciate all of them. I was just talking to a friend that made the comment "90 grand? Some people will spend that on therapy. Your boat is your therapy and there is no gaurantee you will see retirement". Kind of in line with what you all are saying. My previous boat was an 84 Hunter 27 with vbirth, sette's, and rear 1/4 birth for sleeping. None of these worked for me at 6'02"/250 lbs and rolling over every 15 minutes when I sleep. The smallest boat I have found with sleeping arrangement that would work is a newer H27 with the queen size birth under the cockpit (this is if I choose to not buy the retirement boat). The fractional ownership is something to think about but kind of seems like the sailing club idea. I think I am leaning towards a comfortable boat for the Puget Sound and San Juan's for the next 10 years. Then sell the house and everything else over next three years and get the cruiser (location to be determined). There is a part of me that still likes the idea of getting the cruiser now tho. But a full keel blue water like I want seems overkill for the type of sailing I will be doing. We love to use our boat for anchoring off by ourselves for days and unplugging. I think comfort will be priority. The last boat, I was not comfortable and after a couple of days of no sleep and not being comfortable I was ready to head home.

[sailorboy1]

I just feel it is waste of money to maintain and then "get rid" of temporary boat. That is why I have the boat now that I plan to cruise later on instead of some smaller temporary boat.

Of course the real answer is that if the goal is to save money to be able to buy a boat later to retire/cruise on, then don't buy a boat at all! Get your sailing time on other people's boats to gain time/experience.

[bigjer40]

True and the benefit of knowing that boat inside and out is a great bonus. Knowing its history and making sure each repair or improvement is done to your goals and standards.

[bigjer40]

I should add that I do crew on a local race boat and do enjoy it. I hope to one day he the opportunity to do some ocean racing. But my LOVE is gunk holing and unplugging from the grid!

[Tayana42]

There was one time in my life I was practical. We lived in Jacksonville, FL and kept a 19ft Cape Dory Typhoon in a marina a couple of miles from our house. It was cheep, convenient, and readily available for a day sail or overnight. Then 3 or 4 times a year we would charter a larger boat and cruise for a week or two. No worries, little maintenance, recovered the purchase price when we sold it. Practical... but not the same as having your cruising boat. When we moved to CA we bought our present cruising boat, a 42ft. Still had 15 years to work but used it often, learned to deal with its complex systems, etc. Not practical, but it made me happy and worked for us.

Sent from my LG-P769 using Tapatalk

[bigjer40]

Originally Posted by Tayana42

There was one time in my life I was practical. We lived in Jacksonville, FL and kept a 19ft Cape Dory Typhoon in a marina a couple of miles from our house. It was cheep, convenient, and readily available for a day sail or overnight. Then 3 or 4 times a year we would charter a larger boat and cruise for a week or two. No worries, little maintenance, recovered the purchase price when we sold it. Practical... but not the same as having your cruising boat. When we moved to CA we bought our present cruising boat, a 42ft. Still had 15 years to work but used it often, learned to deal with its complex systems, etc. Not practical, but it made me happy and worked for us.

Sent from my LG-P769 using Tapatalk

Thanks for sharing your experience. This sounds like me. But I also know that when I want something I can justify or talk myself into anything. This is why I wanted other's experiene on regrets or would do it again in a heartbeat!

[fishin4bogey]

Geez, this sounds like I wrote it !!!

I'm also trying to decide how to pull this off. I'm 47, no longer engaged, and ready to just disappear.

First thing I'm doing is getting 100% debt free. May switch jobs, and head to Texas and start hauling crude oil, and make some insane money. If I do that for the next 7-10 years, I will " retire" at 56 ish with a hefty cruising kitty. The plan is to then get the boat and learn all I can before heading to the islands. May never do any of it, but right now that's the plan.