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Old 12-05-2021, 11:21   #1
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Timeline/Season to Buy

I'm now 6.5 yrs from retirement. My plan is to start looking for my cruising sailboat at about 4.5 yrs. I figure a year to sail/sort it out on weeeknds. Then time to upgrade.

I'll be looking to buy on the US east coast, and maybe the caribbean.

Is there a particular season where the boats on the market are more plentiful?

I've got the cash, and could buy tomorrow. However, I don't want the boat to just sit and deteriorate while I'm working.

How does this timeline sound to you?

Thanks for the advice.
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Old 12-05-2021, 11:28   #2
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Re: Timeline/Season to Buy

In addition to the local seasonal trends (of which other people know more than I), look at the economic cycles.

At the moment we're in the middle of a covid-induced boom in the boating industry, but it won't last forever. Once the covid effect goes away, and in case of an economic downturn, it will surely be a buyer's market.

So, if you don't have to buy now, it's smart to wait. Is now + two years a good time to buy, time will tell
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Old 12-05-2021, 14:15   #3
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Re: Timeline/Season to Buy

Thanks mglonnro. I agree on timing. It may work out well in my favor. I'm not looking for a project. I'll pay a premium for a well maintained/kitted out boat. I'm thinking there may be more cruising boats on the market in the May-August timeframe as people have returned from cruising and would like to sell before hurricane season.
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Old 12-05-2021, 17:23   #4
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Re: Timeline/Season to Buy

I just recently bought a boat, even though supply was low and prices were high. Oh well, life seems too short sometimes.

I’m 66 and already retired. Health ok, but balance certainly not what it was 30 years ago when I last sailed.
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Old 12-05-2021, 21:59   #5
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Re: Timeline/Season to Buy

Quote:
Originally Posted by ohdrinkboy View Post
Thanks mglonnro. I agree on timing. It may work out well in my favor. I'm not looking for a project. I'll pay a premium for a well maintained/kitted out boat. I'm thinking there may be more cruising boats on the market in the May-August timeframe as people have returned from cruising and would like to sell before hurricane season.
This probably varies regionally. In the Puget sound Iíve noticed that most people who can afford it hold their boats until summer to sell. Most boats rarely leave the marina so are less affected by seasonal use then you might imagine.

Granted if youíre looking for a kitted out blue water boat that might be a little different in your parts.

Anyway during the early summer and late spring everyone goes out thinking theyíre going to get the best price only to find hundreds of people listing their boat at the same time. Prices fall quickly with the lack of interest and by fall people are desperate to not pay 4 more months moorage for no reason and will sell a little lower. Of course any really good deal is snatched up immediately. Like the same week.
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Old 12-05-2021, 22:33   #6
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Re: Timeline/Season to Buy

I think it is economically wise that you are waiting. All these people who bought boats now and never owned one before will be liquidating in the next few years. We had a great economy just before Covid and during Covid people were buying boats and rvs to get out of the lockdown.
In the US the administration is talking about doubling the capital gains tax...what that means is if you have stocks you sell this year which may translate into a massive sell off and a market correction. I am also not seeing any booming economy in my area. Restaurants and retail stores are still hurting and slow. The new trend is work from home which means all associated business from having your suit dry cleaned to going out to lunch to automobile usage to maintaining office space will decrease and thus affecting the employment situation. The Feds will keep interest low....but inflation is creeping up as well as the housing market may need its on correction.
Sooooo....wise to keep your money for now until it becomes a buyers market which I believe will be in the next couple of years.
As for the time of year....depends what part of the country, but I would think early spring may not be the right time to buy...better fall and winter as people may not be using their boats but are reminded of the monthly expense..
As for me, I am 62 and I do not know how many good years I have. So I did an economically unwise but spiritually fulfilling thing....I bought my boat this past August and I have no regrets.
Just do not wait too long because you never know what could be waiting for you around the corner.

IMHO

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Old 13-05-2021, 06:50   #7
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Re: Timeline/Season to Buy

Thanks sailingabe41ds. Your model boat is right up my ally. I'm 55, soon to be 56. My goal is to retire at 62 or 63 and go sailing for a few years. It's hard not to buy now, but the logical side says to wait until i'm about 60.
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