Originally Posted by JazzyO
Whatever you do, make sure you what shape the boat is in below the waterline. Our ship needed a rebuild
of the lower part of the hull
(we knew that), and that alone was around $30k.
Just curious, what was going on below the water
line that turned out to be a 30k project
Originally Posted by letsgetsailing3
One thing to keep in mind is that you could have a tough time financing
a boat over 30 years old, and if you get something close to that cutoff, it could affect resale, as the person purchasing
it from you will also run into that issue.
Given the constraints you provided, I'd be thinking newer Beneteau. If you get a boat towards the older end of the spectrum you mentioned, there will likely be some additional refit costs after you buy the boat.
There is no substitute for going out and looking at boats. I'd look at all the ones you mentioned. I have a feeling you'll know it when you see it.
This is complete misinformation. I've financed a boat exceeding 75 years old that was wooden and sold the boat with ease to a person with sub par credit that had no problem financing the boat. It depends on a survey
and market value and the buyers credit which is the same for any boat over 15 years old.
Most (accomplished) brokers will tell you this and most banks will. It's your job on resell to provide this info. If you have to Broker your boat it's your job as a seller to provide a list of banks willing to finance it.
When you look a large scale production boats you can actually lose a ton of money
because your vessels market is saturated.
For example I'd rather invest in a older 37ft vessel with a outstanding reputation and following that does not have more that 20 on the market than a newer 37ft boat with a questionable reputation and 200 on the market.
When I was a boat yard/builder welder as a kid we used to see all the new guys list their boats with the yards brokerage office for almost %50 less that what the paid to build the thing a few years earlier. Then you'd see the next dreamer buy and load the boat out and list the boat at another massive loss.
All those third hand buyers always made out well, best lesson I have learned in boat buying
. But you have to know what your looking at.
A trick I learned was ignore the cosmetics and electronics
. i.e. never buy a boat that is promoted as fully equip or loaded out. Nor a boat that has a blue hull or pristine wood work.
All are easy enough fixes or changes either on your own or with cheap
Buy a ugly boat exterior wise at a good price, that is a good brand and regularly used, with a good following and is rare to the market with small owners associations.
Get these things with bad woodwork (maintenance) ect.. with a solid hull and be prepared to re plumb and do electrical
work as your first investment.
The next trick is to find the seller that has had enough of trying to get his money back after he made his boat pretty and ignored all major systems.
Anyone mad at me for saying this do you think I deserve a extra 100k on my rental in NYC
because I have a Jacuzzi tub? and added granite counter tops? thats what my neighbours in the identical place next to me added for the 10k and the broker added 500k to the listing price. With the renovation
they had the city certified appraiser come in to increase the tax value. Blew my mind.
I'll go nuts on a broker in my next post and how I've never used one ever.