Buy now or wait?

Xraycharlie · Feb 18, 2011

My dream is to buy a trawler when I retire and cruise up and down the intercoastal from the Chesapeake Bay to Florida, Florida Keys and the Bahamas. I am 48 and will be able to retire in about 10-14 years. But I contsantly keep asking myself why not buy the boat now? I am self employed and can get away Spring and Fall to go to Florida and back. The drawback is that my business keeps me busy on the weekends from May to October and I have three kids ages 10, 13 & 15, not that they are drawbacks but to leave home for extended periods in the Spring and fall to pursue my dream will not be great for my family. Is there anyone out there with advice?

Nomad Willy · Feb 18, 2011

Charlie,
Have you looked at the news the last few days. Could be ther'e may be much better deals soon. WAIT.

markpierce · Feb 18, 2011

If you buy a boat now or soon, it sounds like you won't have much time for it.* Used boats are cheap now and could get cheaper in the near future, but new ones won't ever be.* Keeping a boat is expensive, and you have children that may soon go to college.* I'd wait until the kids are through college (if you intend to assist them) and the house mortgage (if any) is paid.* If funds are not an issue, well, why not get the boat now?

Per · Feb 18, 2011

the way i see it...

buy now, and here are my reasons:

1. It is a family thing, ok perhaps your kids will not be going with you on the 1500 but you can use the boat a few years before making that big trip.
2. Who knows what will happen tomorrow or next year etc. You have to take time and enjoy life and your family now.
3. You know you want to.. and prices on boats are still rock bottom (since the economy is re-bouncing this will not last).

JohnP · Feb 18, 2011

I say wait at least a few more years.

Ownership costs are high and rising.

Boats are generally declining in value.

I think you should charter a trawler for a week or two and take the wife the kids, the pets and give it a go.

Do this for about 2 years and see who is really with you or against you.

If the majority are into it - start shopping.

Otherwise hold off till the kids are more on their own.

My 2 cents

JohnP

-- Edited by JohnP on Friday 18th of February 2011 07:20:10 PM

Arctic Traveller · Feb 18, 2011

DavidM wrote:

Buy a modest size boat now, say 36'. It will fit a couple and three kids ok, but tight. Use it in the late Fall, Winter and early Spring. Depending on where you live now you may have to leave it someplace warm and fly/drive with the family*to use it.

Don't plan on singlehanding in the winter. It separates your family. Get your family into boating. They will resent it if you are gone having fun while they go to school.

Build boating skills, maintenance skills and then you will know what kind of boat to move up to when you really retire.

David

I couldn't agree more. Life is short, enjoy to the max now......................Arctic Traveller

*

koliver · Feb 18, 2011

You don't say how old you are, so we are guessing here.
If you have kids, buy now. Mine are long gone from home now, but always remind me how much they enjoyed growing up on the boat.

Tom.B · Feb 18, 2011

DavidM wrote:

Buy a modest size boat now, say 36'.

HEY!!! Them's fightin' wurds!*

*

I would say continue to think it thru. If you can afford to pull out the checkbook for regular fixes and upkeep, fine, buying now might not be a bad idea. You will need the experience when the time comes. But if you are going to buy knowing you don't have time and try and just hang on to it for 10-14 years just to save a few grand, or only provide the most minimal use and upkeep? WAIT.

I tend to Mr. Miyagi:

Walk on road? Walk left side - safe. Walk right side - safe. Walk middle, sooner or later get squished just like grape. Here, boating, same thing. Either you own boat "yes" or own boat "no." You own boat "guess so," sooner or later [squish] just like grape. Understand?

Tom-

Arctic Traveller · Feb 18, 2011

I would say continue to think it thru. If you can afford to pull out the checkbook for regular fixes and upkeep, fine, buying now might not be a bad idea.

*

You can reduce the cost of repairs by a huge amount if you learn to do your own.* The cost of parts is normally small compared the labor to diagnose and replace.* Lean now with a smaller boat, and when you go bigger you will have the knowledge base to keep it going..........Arctic Traveller

*

Marin · Feb 18, 2011

Xraycharlie wrote:

My dream is to buy a trawler when I retire and cruise up and down the intercoastal from the Chesapeake Bay to Florida, Florida Keys and the Bahamas. ...The drawback is that my business keeps me busy on the weekends from May to October and I have three kids ages 10, 13 & 15, not that they are drawbacks but to leave home for extended periods in the Spring and fall to pursue my dream will not be great for my family. Is there anyone out there with advice?

It sounds as though you will not have all that much time to use a trawler-type boat.* And you apparently feel that the rest of your family might not be into the cruising dream you have.

So one suggestion is perhaps to try chartering a boat sometime when you can get away with your family for a week and see if you and everybody else likes it.* Granted, it won't be cheap, but it will be a lot cheaper than buying a boat and then get buried in boat costs plus some possible resentment from your family.

I'm a big believer in doing something that you really want to do as soon as it becomes even remotely feasible.* If you wait, how long to you wait?* When will you know if the right time has come along?* You can wait and then one day you realize you can't do it due to health issues, financial issues, whatever.

A fair number of us on this forum had parents who experienced the Great Depression, either as kids or young adults.* I don't know about anyone else's parents but my mother wanted to do all sorts of things when I was growing up and after I left home--- travel, buy property in Hawaii, etc.* But she*couldn't bring herself to*do them becaue she had an inherent worrly that the Great Depression might come back and she didn't want to get caught short of money like she'd seen her parents and friend's parents*do.* So she never did most of the things she wanted to do.

Another possible course of action is buy a smaller boat-- a trailer boat perhaps--- that you and your family can enjoy closer to home.* Use that for awhile--- the cost outlay will be WAY less than a trawler-type boat--- and see how it goes.* Maybe boating will become a big part of your family's life, maybe it won't.* But if doesn't work out it will be a*much less expensive lesson than if you learn the same thing by purchasing a cruising boat that doesn't work out.

*

Egregious · Feb 18, 2011

Make sure you don't have a "reluctant spouse."

If you have that then forget the dream, or leave her behind.

I had dreamed of doing the same thing, and my wife convinced me to go ahead and buy a boat, and she loves spending time on it.* Now I am sure we will cruise on our boat together.** We had the luxury of having boated since we met in smaller boats, and I knew she loved it.

If your SO won't buy into it then you might need to rethink.* That is my take because nobody, not even me, enjoys being on a boat alone.

Woodsong · Feb 19, 2011

nomadwilly wrote:

Charlie,
Have you looked at the news the last few days. Could be ther'e may be much better deals soon. WAIT.

Eric,

I am curious- what aspect of the news do you feel merits waiting?

Larry M · Feb 19, 2011

Buy now. It's like waiting to buy a computer because prices are coming down.

JohnP · Feb 19, 2011

If you buy now and somehow the money ear-marked for raising the kids evaporates, your retirement cruising will be without your family.

Marin had a good suggestion on getting a trailerable boat.* It keeps everything in perspective and the kids will probably like going fast out on the water.

JohnP

knotheadcharters · Feb 19, 2011

Buy now, you'll be able to get in cheap and lake the upgrades along the way. Time waits for no one. Worst case you may not do the cruise but the times now spent with family on the boat will be priceless. I work overseas and only get to boat for a very short period of time throughout the year but the additional cost of having the boat is negligible to the time I do spend on it. Hell there are some weekends I never leave the dock but just go down enjoy some cocktails and enjoy the water with my wife. Some people think I'm nuts for the cost benefit but I don't. ENJOY ENJOY ENJOY. I'm buying bigger next year no matter what She'll sit alot but it doesn't matter at all.

Woodsong · Feb 19, 2011

I too am in the buy now camp. You only live once. Whether you do a long cruise or not, time spent with family on the weekends, assuming you live near where you can keep the boat, are priceless. I have just as much fun anchoring out 20 minutes from the marina and swimming with the family and anchoring out for the weekend as I do going anywhere longer distance. Time on the water is a great gift. It really depends though on whether you can use the boat as a weekend getaway or not. If the boat would be 5 hours away...well, I'd not consider it worth it.

Delfin · Feb 19, 2011

I'm with the buy now camp.* Your children are of an age where in a couple of years they might rather eat broken glass than go boating with the fam, or at least that was the way my kids were.* And such memories both for the kids and for you will be pretty priceless.* Also, you said you were self-employed.* My dream was always to go cruising for a few years while under 55 (now 62), but the self-employed have a tendency of continuing to invent new projects and start new businesses that interfere.* At least that was the way it was with me, so now I'm working overtime to get responsibilities reduced so we can leave for a few years.

There are a lot of bargains out there, and I would respectfully disagree with the buy smaller vote because of the size of your family.* By the time they are grown, you'll be more skilled and 42' to 48' will seem just fine to you, and not too big for a couple.

Woodsong's point about your distance from the boat is also critical - if you are more than 45 minutes away, it will not be used as it should.* Which brings me to the most important point.* At least for me, loving to tinker, design, research, plumb, sand, paint, varnish, wire, scrape, grease and fiddle are essential components to happy boat ownership.* Entropy reigns in the universe, but it is accelerated on the water so if you don't love maintaining something you are proud of, buying a boat will only be the second happiest day of your life, with the first being when you sold it.

I never bought or built a boat I could afford and never regretted one of them.

Forkliftt · Feb 19, 2011

We live in Louisiana and purchased our trawler in Kemah Texas- about 5 hours away. We kept her in Texas for over a year and made the drive over about once a month. Like you- we are self employed and work consumes our lives at times. Traveling that far became too much so we moved her closer.
Our last boat (28' planing hull) sank in Hurricane Katrina- and we ended up moving into the trawler several years earlier than we planned. Old trawlers take a lot of work to maintain and improve- so we get to cruise some and work lots too

! The bottom line for us- is we are glad we made the purchase, although we wish we were able to cruise more. As mentioned the monthly costs are substantial- but you don't have a choice on those, but the operating costs are minimal if you don't hit anything or break something. I am glad I am getting her in shape for when we have more time to cruise. 10 years from now I'm sure we are gonna be happy we went on and purchased.

Codger2 · Feb 19, 2011

Egregious wrote:That is my take because nobody, not even me, enjoys being on a boat alone.

I disagree! Single handing my boat is one of my passions.

(photo is 10 second delay.)

*

healhustler · Feb 19, 2011

I have to go with the buy nows. *I don't know of anyone involved in cruising that wished they had waited...rather, quite the opposite. *Of course, a supportive spouse would be convenient.

Woodsong · Feb 19, 2011

regarding the work of a boat....it also depends on the age of your kids. Honestly, if I sold our boat today it would have been the best boat I owned, even though at this point, I've put the fewest hours on her of any boat I've owned. Reason being...we bought her to do the refit. This winter has comprised of weekends on the boat with just me and my son working together. We have had a simply awesome time working on her together...lots of one on one time together, showing him how to use various tools, working together, etc. It's been a great experience for both of us- to the point the other week when I told my son that very soon we'd be able to go up and just relax and enjoy the boat and not work on her all weekend long. To my surprise he looked at me and immediately said, "Dad- that would be boring! Working on her is the fun part!" Seems I've got a little boat enthusiast on my hands.

The one good thing about a trawler vs. another boat is, as someone else stated, unless you hit something or really break something, the operating costs are about as low as you can get. Fuel burn is virtually nothing, etc.

Budds Outlet · Feb 19, 2011

Marin wrote:

Another possible course of action is buy a smaller boat-- a trailer boat perhaps--- that you and your family can enjoy closer to home.* Use that for awhile--- the cost outlay will be WAY less than a trawler-type boat--- and see how it goes.* Maybe boating will become a big part of your family's life, maybe it won't.* But if doesn't work out it will be a*much less expensive lesson than if you learn the same thing by purchasing a cruising boat that doesn't work out.

I*agree with the trailerable boat option if you don't have much time to use a boat.* The*ownership costs are a lot lower when you can avoid moorage and bottom maintenance costs.* Also, a trailerable boat allows you to explore waters far from home that you would not have the time to*reach at 7 knots while you are still working.

Like you, we faced this same question seven years ago and decided on a trailerable boat.* My work schedule restricts our boating to a few 3 day weekends and one two week cruise per year.* We also selected an express cruiser that allows us to explore further on a 3 day weekend then we could at 7 knots.***By going this route we have learned some things that we like and don't like about boats and boating which will help us select*our next boat.*

While continuing to enjoy our current boat, we are now on the three year plan to acquire our retirement boat.* We will have saved*the cost of our retirement boat simply because we bought a*trailerable boat when we were at your decision point.

Whether you buy a 40' trawler or a 10' car topper, get*a boat now and get on the water.* Your life will thank you for it.*

*

C lectric · Feb 19, 2011

I don't have kids so this is an observation.
My outlaws, though, had three and we boated together for many years. The boats were a big adjustment for all. A lot of after school activities could not be accomodated although they still had plenty. Mom and dad though did have more or less regular jobs that allowed time off so that could be a major complication in your circumstances.
They are out of boating now and have been for many years but the kids, now in their mid to late thirties, and with families of their own, still remember the time on the boat.
The three 'kids' still actually enjoy each others company and talk and visit together a lot.
They fought a lot on the boat but also learned to play together through rainy and sunny weekends and that has stuck with them.

Just one caveat, don't scare them, particularily your wife. I've seen too many boneheads that scared their wives early, wouldn't pay attention and made fun of them, and then their wife wouldn't go near the boat afterwards. Yeah, they will get scared, so did I, but if you deal with it properly it will work out.

A smaller boat that you can use when time permits and will allow practice and learning as you go may be a good way to start. I know if I jumped into the boat I have now we would no longer be boating. It's been a good boat, but even from the previous boat it was a steep learning curve. I have to do almost all of the work myself or we couldn't afford it. The smaller boats taught me a lot, what to do and not to do. Of course each boat has specific requirement so not everything is transferable but the general skills are.

Good luck with your choice,
Clark

Marin · Feb 19, 2011

C lectric wrote:

I know if I jumped into the boat I have now we would no longer be boating.

Clark has made what I believe to be a really good point here.* His statement would have applied to us, too.* From a kid up I have always loved boats and being on the water, as has my wife.* I didn't have a boat or many opportunities to go out on one* until I was out of college and working in Hawaii.* At that point I began going out with friends on their sailboats and fishing with the owner of the flying school I used.

After moving here I crewed on a co-workers racing sailboat for a couple of seasons.* But it wasn't until I got married that I (with my wife) got my first I-own-it boat, an Arima trailer fishing boat, since that was our primary motivation for getting a boat at that time.* We still have that boat, by the way, and still enjoy using it.

We''ve flown floatplanes in this area and up the BC coast into SE Alaska for years so we were familiar with the region and saw all the "big boats" down below us and started thinking, "That could be neat."* But had we jumped right into the big boat world, I have no doubt that we'd have "survived" but I think there would have been more stress--- financially if nothing esle--- and it would not have had the same kind of positive impact on our lives as what we ultimately did.

Now that we've had the GB for over twelve years we feel, "Shoot, why didn't we do this earlier?"* But that's because we know how to run the boat now, how to maintain it, and what the associated costs are.* But if we force ourselves to think of where we were at before we got into boating, we feel, as Clark said, that we did it right by starting out with the Arima, then some ten years later chartering a GB to try it, and then buying our own GB.

Other people have decided out of the blue they want to be boaters and go out and buy a 45' boat.* And do fine.* So there's no one-size-fits-all rule.* But when one has a family, job responsibilities and schedules, little or no cruising experience, perhaps doesn't live right in a prime boating area, and is not even totally sure that the boating experience is really what one's family wants, starting out with a smaller boat can be a smart way to go.* The poster who cautioned not to get one too small is important to heed, too.* But there are nice trailer boats that can accomodate your family.* And obviously you will need the appropriate vehicle to tow a trailer boat.

But whether you start out with a trailer boat or determine that it's gotta be a "big" boat or nothing, I do agree with the "Do it now" camp. I would only add, "Do it intellegently."

*

-- Edited by Marin on Saturday 19th of February 2011 01:34:26 PM

SOMERS · Feb 19, 2011

The ultimate boat that you choose is entirely up to you , as they say :-

"Make your bed and lie in it."
Many people start out with a smaller boat *and then graduate to larger and larger
each time you swap out . You may loose money .

Some buy boats by trading up say 2 ft up at a time, i call it the two step , which can be a costly practice ,leading eventually to where you will wind up with the right boat *size wise.

It does not take long to find out you undersized your boat and come to regret your decision.

Do go through the list of users here on the forum *there are many pictures, you will see some great boats and see what size most people *here own and that is where you start.

Find the boat that *is right for you over the long term .

It will not take you long to master a large boat, they don't blow around / drift around as much as smaller boats.

Small boats have cramped engine space that to me is a down side.

A boat is not a house , space on a boat is at a premium and you will be glad of every square foot.

This Forum has many good well informed people, they are all here to help and guide you.

Remember *the fudge factor a boat on land is twice as large as it will appear in the water.

Do make a list *by starting *with this question , what do i want to do with my boat in 5 years time.

When we build let it be for ever and not for present delight alone.

Donald & Mavis.

-- Edited by SOMERS on Saturday 19th of February 2011 06:12:27 PM

-- Edited by SOMERS on Saturday 19th of February 2011 06:19:33 PM

Carey · Feb 19, 2011

Eat dessert first. Life is uncertain!

JohnP · Feb 19, 2011

Okay I was being to negative-* Go buy the biggest trawler you can find

Take it to Florida and the Bahamas every Winter.

I am sure you will see the Wife and kids on some of their school breaks- and you can tell them about all the fun Dad is having.

Life is Short-- Go for IT!

Tom.B · Feb 19, 2011

Arctic Traveller wrote:

You can reduce the cost of repairs by a huge amount if you learn to do your own.* The cost of parts is normally small compared the labor to diagnose and replace.* Lean now with a smaller boat, and when you go bigger you will have the knowledge base to keep it going..........Arctic Traveller

*

My point was that with three kids and a job that needs him on weekends, it's not very likely hell have the time to learn all there is to know.

To the OP... What does your family think? Have you asked them?

Tom-

hollywood8118 · Feb 19, 2011

Having a bigger boat ... and a young family..

If the family is interested and wants to take part it can be a win .. win..

If they don't want much or anything to do with a boat you will loose on both the family and the boat. My kids and admiral* have always taken interest in our boats... at times lots of interest.. other times less. As the kids are in their mid teens the interest is less until we are on the boat.. then it comes back.* When the girls were young they wanted to learn how to drive the boat... most times now they just think of it as a moving sun deck.

If the family doesn't have a real interest get a smaller trailer-able cruiser that can sit on the hard and cover up if the use starts to wain.* That way you can give yourself a treat and give yourself a new interest that is relatively cheap.

Just do it in a way that fits for you and your family... how many friends have you lost suddenly that had plans to do something they really wanted to do in life " later".* Don't wait if it is something you really want

look at the attached photo... dont they look like they hate being there??

Carpe Diem..

HOLLYWOOD

-- Edited by hollywood8118 on Saturday 19th of February 2011 09:52:12 PM

Buy now or wait?

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