We have chartered with Dream Yacht in the Bahamas
, and French Polynesia
, both times it was a fantastic experience. So much so that the whole concept
does get me thinking about doing the whole ownership
In speaking with their representative this past weekend in Dusseldorf the program that would be of interest to us is the following:
-Pay 55% of the boat
cost up front. (let's say for example it's a Lagoon
42, cost $600,000, I write a check for $330k)
-It goes into their charter for roughly 5 years and 6 months.
-We get to use the boat
12 weeks a year (off season, or 6 weeks high season)
-No expenses for us
-At the end of the program they theoretically have maintained the boat to be in good working order and free from defects, and then they give us the keys and we own it 100% outright.
So from my angle, I then take this Lagoon
42 and attempt to sell it after coming out of charter. Let's take a leap of faith and say it sells for $330k, so after brokerage fees
and expenses I get a check back for $300k. The cost to us has been $30k loss on the boat, plus the cost of money
for 5.5 years on the original down payment. So conservatively say roughly 4% return on the 330K would be $70k net.
We have now spent $100,000 for 5 years of a lot of sailing around the world. If I assume we only used the 6 weeks a year in high season and the boat is $8k week high season cost, we've saved $175,000 in would be chartering expense.
The reason this is kind of appealing to us is that my wife's benefits allow us to fly for free, so the travel expense side of things doesn't come into play for us like it would others. Secondly because of this benefit and our diverse travel interests we find ourselves liking to do tons of other cool stuff like visiting land based stuff as well, like national parks, snowboarding, cool cities, jungles, deserts, mountains, etc.
So from a retirement
angle, we'd actually be more likely to spend the entire 12 weeks in low season vs. 6 weeks only in high season. This is a pretty good amount of time on the water
each year and being able to mix it up with new locations is appealing.
Other the risk of not being able to sell the boat at the end, what am I missing? But considering the expense of actually owning and maintaining your own boat for 3-4 months use a year (and that being the same location year after year) it seems like the idea has merit.