I don't see that as a negative if you are buying
from second hand. The points to consider are,
1: More affordable. We could never have afforded a boat our size in any other material.
2: They don't depreciate as much. FC tends to stay at the same price
. Cheaper, but more stable.
3: Because you don't have such a large financial commitment tied up, the loss is also not so great if the worst should happen. For some, it is worth the risk not to pay exorbitant insurance
and only carry a third party insurance. If you do manage to get insurance cover, the premium is cheaper, due to most companies charging
at a rate of 1% of the value.
1: it is easier to over capitilize. We have fitted $40K worth of new mast
, which is 30% odd of the entire value of the boat. If we decided to sell, It may make the boat more enticing to a prospective buyer, but it will most likely not increase the value much.
Fitting the same $40K of mast
on a $200K boat and the capitilization difference is not so great. You may or may not get that $40K back when you sell your $200K asset.
2: This point is the biggest negative. The cost of building a boat is made up of about 10% going into Hull construction. So lets say you building a $200K project
. The FC Hull will cost about 5% $10K of the project
, a GRP about 10% $20K and a composite most likely above that. So you spend a total of $190K on a complete FC finished project and if you went to sell it new, it is stil only worth what that kind of FC boat is going for on the market. This is the single
biggest negative and the reason why commercial
building FC does not work.