What percentage of your net worth does your boat represent?

[SVNeko]

Calculate the value of the boat ignoring debt on it.
Calculate your net worth deducting all debt, including boat debt.
So, if you own a boat worth $50 and a house worth $100 but have debt of $75 (whether on the boat or not), your answer is 50 - 75% ($50 boat / $75 net worth = 66 2/3%).

[Teknav]

A boat, like an airplane, is a MONEY HOLE! How anybody is going to determine the percentage of "infinity", is beyond me. I'd say, it is not possible to calculate the value of a boat as an asset. The value of the boat continuously depreciates and never ever increases in value. Mauritz

[zeehag]

Originally Posted by Teknav

A boat, like an airplane, is a MONEY HOLE! How anybody is going to determine the percentage of "infinity", is beyond me. I'd say, it is not possible to calculate the value of a boat as an asset. The value of the boat continuously depreciates and never ever increases in value. Mauritz

this is hilarious. is very easy to say when you own and reside in a house of some sort, which is also a money hole. rodlmao.

[Boatguy30]

Should be less than 10% better yet 5% for carefree cruising.

[SVNeko]

It is a money hole, we all know, but you can estimate what it would fetch on the market at any given time. This is just for kicks. Don't take it so seriously.

[sailorchic34]

Originally Posted by zeehag

this is hilarious. is very easy to say when you own and reside in a house of some sort, which is also a money hole. rodlmao.

^^+1

Ditto. My boat is pretty much my only asset. Its only a money pit if you have a house and never take the boat out as so many boats in marinas are. If its your only abode and you cruise, its an asset. Or to me it is..

Hum I'm wondering if ya'll can guess the folks with boats at 75 to 100% asset

[zeehag]

rodl...the HAPPY cruisers i have met were those whose only asset was their boat and contents.
dont have to go back to anywhere nor report in to anyone..rodlmao.

[JK n Smitty]

Originally Posted by Boatguy30

Should be less than 10% better yet 5% for carefree cruising.

With that math, almost no one would ever go cruising! To have a $100K boat (no where near top of the line money) your math says that you need $1-5 million in net worth.

Originally Posted by Teknav

A boat, like an airplane, is a MONEY HOLE! How anybody is going to determine the percentage of "infinity", is beyond me. I'd say, it is not possible to calculate the value of a boat as an asset. The value of the boat continuously depreciates and never ever increases in value. Mauritz

Also, I am personally getting sick of the "boat's a money hole", "what does boat stand for", "a hole in the water you throw money into" attitude towards boats. If you don't like your boat, sell it and stop b%$&hing about it on forums. Anything that has value costs money to maintain: cars, houses, boats, RVs, etc.

Teknav, if your above statement is true, I'll buy your boat or your airplane for $1 right now.

[Teknav]

Hey Smitty...take a deep breath! Sending you a gallon of your favorite ice cream! What happened to your sense of humor? Loosen that necktie...will you?
Mauritz

[Paul Elliott]

Originally Posted by JK n Smitty

Also, I am personally getting sick of the "boat's a money hole", "what does boat stand for", "a hole in the water you throw money into" attitude towards boats.

I think these sayings are useful, as they remind us that the initial purchase price is only the beginning. I don't mind it, but it is something a boat owner should be realistic about.

There is a power boat on a trailer that I drive past every day. The sign says "FREE!". I told my wife that we couldn't afford a free boat.

[Teknav]

Well said, Paul! Mauritz

[JK n Smitty]

Hey Smitty...take a deep breath! Sending you a gallon of your favorite ice cream! What happened to your sense of humor? Loosen that necktie...will you?
Mauritz

Sorry man, but it's just something that has been frustrating me lately. There are potential cruisers/sailors who get discouraged and don't buy boats because of statements like the one you made. On top of that it gives the perception that owning a boat is more costly than owning other items, which just isn't true.

think these sayings are useful, as they remind us that the initial purchase price is only the beginning. I don't mind it, but it is something a boat owner should be realistic about.

There is a power boat on a trailer that I drive past every day. The sign says "FREE!". I told my wife that we couldn't afford a free boat.

Can you name anything in the same relm as a boat that ends at the purchase price? House? No. Car? No. Airplane? No. ATV? RV? Motor cycle?

We don't make these statements about other items, why is it necessary for boats? It gives an impression that boat ownership is not affordable except to an elite class.

With your free boat example, wouldn't you say the same thing about a free F150?

[Kettlewell]

What net worth?

[Bluewaters2812]

The freedom of travel a boat brings is priceless ... not sure how to calculate a percentage of priceless ... any ideas?

[Kenomac]

Originally Posted by sailorchic34

^^+1

It's only a money pit if you have a house and never take the boat out as so many boats in marinas are. If its your only abode and you cruise, its an asset. Or to me it is..

Agree 100%.

We consider our USA real estate to be the true money pit and equate the volatility to the Dutch tulip market of 1637. Our boat is a true asset because we enjoy countless hours, living onboard 6 months of the year. And unlike real estate which can be taxed at the whims of the local politicians at very high rates, a yacht is a mobile asset that can be moved to an area with lower taxes.

If I don't like my neighbors in the city, I'd need to sell the house I like and move. On the boat, we just move the house to a new location. Fantastic.