Wanted For Free: Rent vs buy

[Wylieh]

Any good rules of thumb for when a person should rent vs buy a crusing sailboat? Anybody do any math modeling?.

[Crimea Cruiser]

I think your purpose defines whether to rent or buy. If desiring to only have a few weeks per year of tropical sailing and relaxation then charter would suffice those needs. If more extended use is desired then buying is suitable.
My brother rents. In his area they have a summer package, 6 full day rentals and 6 half day rentals. It suits his needs. All he has to do is show up and sail, and he can choose from a variety of boats offered. The maintenance, hauling, insurance and other costs are not his worry. Just one set fee.
But as far as cost per use ratios, renting versus buying I not have a clue. Perhaps somebody else has factored in all their sweat equity and expenses per use/hour.

[Wylieh]

Thanks i think from what I have read I will try and rent a small sailboat this December - January in the Bahamas so I can start building time and experience. Does anyone know any rental places by Nassau that will rent a smaller cat or mono in the 30' class.

[Wannabe-007]

I did some basic maths a while ago. I'm not sure where the spreadsheet is, but I think I remember the basic conclusions.
My maths was based on owning or chartering a ~$200k-$250k catamaran.
I considered only the basic economics and ignored all the soft and/or emotional reasons to own your own boat. I also ignored such things as the opportnity cost of your time (time spent fixing, organising, fixing, cleaning, fixing, pottering, etc...).

I concluded it was only economical for me to own if I spent more than 100days a year aboard.
Put another way this means if you spend every single weekend on the boat, owning works out.
Put another way, if you were aboard for four weeks holidaying and every single weekend during summer, chartering is far more economical.
Put another way, if you have anything resembling a normal job, you are far far better off chartering.

I agree it feels 7 levels of wrong to be forking out oodles of money to charter, and own nothing at the end of it. All my emotions want to own a boat, but my brain has more pull than my than my heart so I charter (and sail on lots of other peoples boats for free ).
I also pay rent in my house for the same reason - the numbers stack up in favour of investing in real estate as opposed to leaving capital idle in my own home.

I am, of course, planning on buying a boat, but that is because we plan to spend a year or so sailing from the Caribbean to New Zealand... and we will either sell it or live on it when we get home.

[tbodine88]

If however you have a family that doesn't like to sail. Owning a small trailer-able that you can keep on your own property when not in use is another idea, that's economical.

[Wylieh]

Originally Posted by tbodine88

If however you have a family that doesn't like to sail. Owning a small trailer-able that you can keep on your own property when not in use is another idea, that's economical.

Thanks but I already have four boats parked in my yard, (wife not happy about that either) on trailers. Now I want something I can go to and cruse away for a while, can't wait to hear the sound of the wind and waves without some big engine roaring in the background. Think I may be maturing, or might be all the stitches, time in hospital, don't know, ( glad wife don't read this stuff) cheers!

[p_everette]

If it flys, floats, or flirts, RENT! its much cheaper in the long run.

[44'cruisingcat]

Another option, sort of part way between buying and chartering, might be to become part of a boat owning syndacate.