Originally Posted by biker6977
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, 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.