buying vs. renting slip

[liberty16]

I don't know enough about it to come up with a concrete plan, but there is always a way to beat the racket.

And that's the problem, waterfront property of any kind, any place, has always been the most expensive (even when it takes regular storm damage) and there's no more of it being made.

As far as making waterfront property is concerned, Dubai knows how to do that quite well. Not exactly the poster-boy for affordability, but there must be a way to do it more cheaply. Where there's a will there's (usually) a way.

[jrd22]

Ours has been a good investment here in the Seattle area even with the monthly yacht club fees ( about $100/mo ).

John

[High Cotton]

I live at the "360" Condominiums in North Bay Village, Florida, (Islands between Miami and Miami Beach) built last year on the water which has a marina...............

funny thing is, ALL the slips were sold for $400,000.00 each and there's not one boat in the Marina.... apparently the slips were bought by "boatless" investors.......

since I just moved in I'm gonna check with the association to see if I can rent a slip for High Cotton at a reasonable price.......
and the only reason I think it may be reasonable is I would think $300 or $400/mo for an owner is better than zero!.....

and no, they're not allowed to rent to anybody that does not live here, my advantage, I guess.

[seafox]

12m where we bought now selling for $95k. Only paid $50k 5 years ago so they keep rising.

[Pblais]

They are not building more marinas. Many of the small ones are being developed as real estate and they often net fewer slips than before but then they become private. The prices run quite a range. Where we are the last 45 ft slip sold for $16,000 but you have to own a house here. These are fixed docks electric and water but no pump out. Two commercial marinas are almost in sight.

the popularity of boating increases as the supply of slips goes down.

[seafox]

I was talking to our marina manager and he says that soon unless you are on the marina owned rental berths you will be kicked off the private owned ones as more and more people are wanting to buy berths for their own boats.

Quite a lot of our marina berths are now worth more than the yachts parked in them.

[Pblais]

Quite a lot of our marina berths are now worth more than the yachts parked in them.

The marina near us is building boat condos. These are stacked garages to keep your boat in. You call ahead and the travel lift splashes them then returns them to the space after you come back. It's for power boats.

[seafox]

We have some of those in Auckland. The Marlborough Harbour board are looking at building on in the south Island too. They are a good idea.