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Old 09-08-2014, 03:50   #61
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Re: Following My Dream-7 Years Out

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Originally Posted by biker6977 View Post
We will not be buying new, we will be buying used for the first boat. Once we can officially retire we have money we can use at that time or later to purchase new if we decide to go that route, which we might. But right now we will do the used boat and go from there. Classes are scheduled- hubby and I will be taking them together. It's really going to happen!

as for new -- well - first we have a friend who did just what you are doing bought a small boat and a liveaboard and then when the decision was made to sell it and get a cruising boat spent 2 years trying to sell it and never did. Finally a broker talked them into a trade in on a new boat but not sure how that worked out - so they have missed 2 years with the new boat and the market is not good for boats right now if you are a seller

second - how much are you willing to lose on selling the used boat to get what you want. boats do not appreciate in value but depreciate and with the current market are you willing to take a sizable loss on it to get what you want in the future

third - new boat prices will never be going down so how much more are you willing to pay in the future for what you want. add what 5-10% a year for prices to increase? someone on this board will have a better handle on it than me but suffice it to say you will need a lot more in the future.

fourth - you can use the boat as a 2nd home for income tax purposes. I did and it work out ok.

fifth - Interest rates are at an all time low and can not maintain this level for ever. You can buy now and when you retire and sell the house pay off the boat as i did and be totally debt free and it makes cruising so much easier.

sixth - it took us 2 years of trying to figure the boat out and what she needed before we took off and headed to the western caribbean. We know some folks who did not do the shake down first and had issues with water capacity, fuel capacity, electrical capacity, ect ect. We did our homework, and i am not talking about reading a bunch of books, i am talking about using the boat and determining what we needed not what the books say we needed.

this is simply and strictly a business decision. Take the heart out of it and look at it like any other business decision. I may be a bit cold blooded about it but we have seen so many people make the decision with their heart and want it now and disregard the reality of how the today decisions will affect their tomorrows.

good luck
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Old 10-08-2014, 11:09   #62
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Re: Following My Dream-7 Years Out

New is WAY too pricey and as you say- they depreciate so we will let someone else take that hit and we will purchase new to us. There are currently a number of boats on the market that will work for cruising to learn on and to live on later. While you make some good points it is just not what we will be doing. We can get a newer but not new boat for cash while keeping the house to rent out and have for when we eventually may need to come back to land. I do like the idea of using it as a second house for income tax purposes. How does that work? That might be incentive to purchase it sooner.
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Old 10-08-2014, 11:21   #63
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Re: Following My Dream-7 Years Out

Not only is new too expensive, it's the upgrades and addons that you will need to cruise that can add a lot of cost. Many times, you can find 2 used boats of the same model. They'll be very similarly priced, but one will have many upgrades that would cost you money down the road. For example, we bought our Beneteau 423 at the same price as an average ex-charter or "bare bones" boat, but we had:

- 200ft chain
- anchors
- GPS
- upgraded batteries/solar charging system with 200W
- details such as guest flags for many countries (at $20/flag, they add up!)
- dive gear
- grill
-air conditioning
-genset

etc.... some of these things may have more value or less, but at the end of the day, you're going to need them! If you buy a used boat, there's a much better chance that some of these things will come with it vs. buying a new boat where you're guaranteed it won't!
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Old 10-08-2014, 13:01   #64
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Re: Following My Dream-7 Years Out

Good point YoloSF- I have noticed and thought about that as well. The "goodies" won't be a deciding factor but will go into the decision if we find two boats that are equal.
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Old 11-08-2014, 07:11   #65
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Re: Following My Dream-7 Years Out

I finished reading "Sea Legs" as was suggested by someone on CF. It was a good book, and gave another perspective and things to discuss with hubby. I also started working on getting my little yellow Z3 ready to sell. I wanted to replace the seat belt guides which required removing the seats (I know, stupid design!) I got the drivers side out but the passenger side won't move forward- I usually only have a dog with me so it rarely gets used- don't think I've had a person in it in the last couple years. Anyway- after much search on the subject I've decided to leave that seat in and just replace the drivers side set guide. It's a 13 year old car and the next owner will need something to tinker with. The top will get replaced this coming weekend, then all the badges and odds and ends. I hope to list in 2-3 weeks- prime top down weather around here. Hubby has an interview Thursday which will hopefully go well. Not sure how mine went Friday- the hiring manager has only been with the company 2 weeks and doesn't seem sure of himself but I"m not writing it off yet. I am hoping the job comes through for me as I have already decided I will purchase a small liveaboard - there is a marina with in 30 minutes of the plant that would be less than $230 a month for slip, power, water and wifi- can't get an apartment that cheap! I hope everyone here working towards their dream- reading, studying, practicing, pay an extra $100 down on a loan to get out of debt.- every little bit helps!!!!!
Have a wonderfull!!!!!!!!!
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Old 11-08-2014, 10:04   #66
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Re: Following My Dream-7 Years Out

By the way boat show season is coming up so why not a day or so and plan to attend a boat show - i heard no new but if you do your homework and get on boats and talk to the folks there you may find a few that know about boats and then learn - such things as what is the difference between a hunter and an island packet - not just the pretty stuff like interior but the stuff under the floor and behind the cushions - how is the boat put together - not stuff you can get from a book
what is the difference between a Jeanneau and a really Amel -- how is the construction different

that is what you need to begin to understand
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Old 19-08-2014, 06:39   #67
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Re: Following My Dream-7 Years Out

chuckr- we are planning to attend the Miami sailboat only show in Feb. where we will also be taking a cruising course for couples and a couple other seminars.
Yesterday hubby started replacing the top on my Z3 (yea!) why am I excited to be readying my beloved little yellow two seater for sale? Becuase it is another step in paying off bills and having no debt. I will be able to sell it for a decent price and purchase a nice little used motorcycle ( I just can't NOT have one it seems) which I will use as a daily driver and put the rest toward my student loan.
BTW- I didn't not get the job but thats ok, I have one so I'm better off than others. We recieved our books for our sailing class- woohoo!!!!!!!!!!! I have been studying and restudying- very excited!!!
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Old 19-08-2014, 10:29   #68
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Re: Following My Dream-7 Years Out

Well, appearently I spoke too soon, I just got a call from the headhunter and the plant manager wants to bring me in for a face to face interview!!! And hubby called and is bringing the big fishing bot home to clean up and put for sale!!! I have mixed feelings about this as he really like the boat but it is our biggest loan and in the past two years of making payments, paying for storage and insurance it has probably been out maybe 15-20 times max- that's a lot of money for not much usage. But I know he doesn't want to let it go but since he's not working he feels he's impinging on my dream since right now my paycheck is paying for his boat. We keep our money separate- one house account we each contribute to and each have separate accounts we keep the rest of our monies in. This works best for us- I am big on buying used and letting someone else take the hit for depriciation, he is big on not turning a wrench and having something under warranty. When he bought his new car I was in NY on business and he sent me a picture to which I thought- nice, glad I'm not making the payment. He went to pick up my little Z3 for me since I was away on business- I"d saved for a few years to pay cash for a used car- no way was I paying $65,000+ for a new car but I'll gladly save $10,000 and buy used. So the only loan I have is my student loan. When we decided to go for the live aboard dream hubby had a loan for a backyard shed, one for his jon boat motor, one for his car and one for his big boat. Through selling my motorcycle and yard sale stuff we've paid the shed, motor and 1/2 his car off. When I sell my Z3 that will go toward my student loan. If he sells his big boat then we will have that off our plate- yea!!! So, we are still on track and things are looking up. He had an interview last week and will know something by friday. He's a bit depressed since he's been out of work since April but I know something will come up and honestly this might be a blessing and get us cruising sooner.
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Old 22-08-2014, 10:47   #69
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Re: Following My Dream-7 Years Out

I got a face to face interview Friday Sept 12 for the position!!! If I get it I will be purchasing a small 26-30' live aboard and moving into a marina in Bainbridge GA. I might make this dream a reality sooner than expected!!!!!!!!
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Old 27-08-2014, 13:28   #70
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Re: Following My Dream-7 Years Out

We went diving this weekend, just another push to get more time on the water! We were on the back porch, as we are most evenings, when hubby asked "are we going to have bikes on the boat, or a motorcycle?" Now he's not a bike or motorcycle person so it took me by surprise. But it started a converstion which is always good. I've also gotten him to watch a few "sailing" movies lately- White Squall, Deep Water or was it Blue Water- a home movie you can get on Amazon video about a family who sailed with their three kids for 5 years, and another one- a documentary about the TransPac race. He's still working on my Z3 to get it ready to sell- when it's done I might not want to sell it but it will go anyway!
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Old 27-08-2014, 16:00   #71
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Re: Following My Dream-7 Years Out

If you have space, scooters are a good compromise.
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Old 15-09-2014, 14:00   #72
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Re: Following My Dream-7 Years Out

Aloha and welcom aboard!
You've made a lot of friends on here already.
Your introduction reminded me of my daughter, Suzu Yamahonda Jones.
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Old 23-09-2014, 11:32   #73
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Re: Following My Dream-7 Years Out

Well, it's been a while coming but I just got a job offer for the position that would allow me to live on a boat- and they will give me a moving allowance of $6500- which should be enough to purchase a small live aboard.
My husband has an interview in the opposite direction of the country tomorrow- We are determined to work hard the next three- 5 years then cut the dock lines- Things are moving.
AND we have our first sailing lesson this weekend!!! I may have to pinch myself- WooHoo!!!!!
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Old 23-09-2014, 13:04   #74
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Re: Following My Dream-7 Years Out

My advice is to try to get information from more than one type of person.

The books by experts are important, and we read them voraciously before setting off but they are geared toward telling you the best way for the average person.

Forums are full of good tips and tricks, some real knowledgeable people, but also ridiculous statements sometimes by people who have no idea what they are talking about.

Another source that I think most dreamers dont get to tap is 'everyday cruisers'. When you get out cruising you see that there are a million different ways to do it and solutions dont have to come prepackaged with big price tags.

In that vein, have you read all of the IWAC interviews? i'm biased of course.
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Old 25-09-2014, 06:45   #75
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Re: Following My Dream-7 Years Out

I haven't signed the contract yet- need to find out if they will move a boat from where ever I happen to find one but it looks like I"m going to take the position AND there are a couple openings that hubby has applied to so it's possible we will be starting our live aboard adventure together. Lessons start Saturday and we get to meet Gunkylump and his lady this weekend as they will be down here starting their new life adventure! An exciting time- things they are a changin'
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