Trawler life for a year or two? In and out?

[hertfordnc]

I'm 63, retired. Wife will work for a couple more years. We're thinking about taking a year to run up and down the east coast at five knots. We don't think we want to do it long term.


Boat selection would be an important part of the equation.
I could spend a lot of money on a really good well maintained boat and sell it with minimal depreciation. Or, i could find something cheap with good systems and some long term issues and just dump it at an acceptable loss.

Or maybe buy it on FL in winter and sell it in Maine in summer? There seems to be a north/south price disparity.

I've owned a few boats and had a career in the Coast Guard. I'm not an expert at anything but i know how to NOT DIE.

I'd love to hear from people who have taken this approach.

 

[Flatswing]

Sounds like fun, but if the plan requires minimal losses, well…
Boat prices are all over the place with demand increasing for some post Covid, but prices are also softening in some areas as the post Covid “move aboard, work while cruising” crowd grows weary. Previously FL boats tendered towards lower prices ‘cus they are constantly in the sun and can be used/cruised year round leading to more wear & tear. Northern boats may hold a higher price since they are less numerous, are typically used seasonally & stored annually leading to more frequent maintenance, oil changes etc. with less wear & tear.
For many of us, trawler ownership is a money-losing proposition which we embrace for the shear love of it. Personally, I think the answer to your question lies with your wife’s input on the vessels you end up considering. Be sure you are clear on insurability as you search ‘cus it’s a big issue for 20+ year old boats in some markets

 

[hertfordnc]

Sounds like fun, but if the plan requires minimal losses, well…
Boat prices are all over the place with demand increasing for some post Covid, but prices are also softening in some areas as the post Covid “move aboard, work while cruising” crowd grows weary. Previously FL boats tendered towards lower prices ‘cus they are constantly in the sun and can be used/cruised year round leading to more wear & tear. Northern boats may hold a higher price since they are less numerous, are typically used seasonally & stored annually leading to more frequent maintenance, oil changes etc. with less wear & tear.
For many of us, trawler ownership is a money-losing proposition which we embrace for the shear love of it. Personally, I think the answer to your question lies with your wife’s input on the vessels you end up considering. Be sure you are clear on insurability as you search ‘cus it’s a big issue for 20+ year old boats in some markets

Interesting. I had not thought of the seasonal usage and winter storage. Being an arrogant New Englander I just figured Florida is where RVs., Boats and people go to die. I seem to see better deals down there but I haven't really researched it.

Of course it's a money loser. I'm ok with that but if you know it's not a long term thing there are choices to make to mitigate the loss. Lose 20% of an expensive boat or 50% of a much cheaper boat.

Yes, the bride must decide. This was her idea to begin with. I wanted a sailboat but as i settle into being retired I realize I'm not going to be as good at sailing as i'd like to be.

 

[mvweebles]

The hidden bugaboo in selling a boat is how long it will take to sell. Holding costs (slip, insurance, maintenance, diving, etc) really add up. Some brands have a strong following and sell pretty quickly. Nordic/American Tugs seem to fit into that category. A couple of the Mainship models do too.

Folks who do the Great Loop seem to have a decent classified group. Even though you haven't mentioned do the entire loop, might be a good way to buy and sell

Good luck with whatever you decide.

Peter

 

[sunchaser]

A few years ago we were at the docks in Petersburg AK when a Bayliner 4758 pulled in next to us. In chatting with the skipper he said they had purchased the vessel a few months prior in Anacortes.

Their plan was to do the bucket list trip and upon return to Anacortes sell the vessel in the fall. So basically it was a 6 month ownership gig. For them, the priority was to buy a bristol and popular vessel that would sell quickly when their summer cruise was done.

 

[READY]

Lots Of transaction costs will factor in a short term buy/sell situation. I would consider joining a national boat club with locations in or near where you want to cruise. Then travel by car, stay in hotels and make day trips on the club boats. I can almost guarantee it will cost you less. I can absolutely guarantee it will be less problematic. Do it for 6 months and see how you are both enjoying it. You can always buy a boat then.

If you go this route please feel free to send me just 10% of what you save. It will be a sizeable amount. You will spend your time exploring and boating and not worrying about marinas,repairs, insurance, etc.

 

[socalrider]

I like the idea of buying a popular model. Also keep in mind that the market can be quite cyclical. During the 2008-9 financial crisis, for example, boat values plummeted. So one school of thought is to get a Bristol vessel, another is to buy something rough and ready to avoid the risk of having a good portion of your net worth tied up indefinitely. A lot of it depends on your cruising partner. You could spend, say, $400-500k on a gorgeous Nordic Tug versus $60-80k on an older but well found Taiwanese Trawler like many of us have. The latter may take longer to sell, but you could donate it to charity after a year with lower depreciation exposure versus the nicer vessel.

 

[O C Diver]

A few thoughts from a former serious cruiser:

If you plan to buy an expensive used boat and plan to sell it for top dollar, maintenance will be expensive. You're not doing maintenance for you, but the next buyer. You can't defer maintenance and expect to catch up after 2 years of cruising, without spending some serious coin. Maintenance is both mechanical and cosmetic.

You can choose when to buy, but if two years is a hard date for selling, you may end up holding an expensive asset or selling it at a significantly greater loss.

Many people who do the Loop with the expectation of selling 12 to 18 months later buy a Loop veteran. This are inexpensive boats that has done the Loop two to maybe ten times, but usually not twice by the same owner. Purchase cost is moderate; major repairs are luck of the draw; depreciation is low. It's kind of like Lindbergh crossing the Atlantic in a single engine airplane. If you're only going to do it once ( or in your case a couple of years), odds of success are good. Do it 100 times, and the risk of failure before reaching 100 is high.

Buying an inexpensive boat means a lower investment, a lower operating expense, and generally a lower hit when you sell. A thorough boat survey and a pre departure major maintenance of all systems will go a long way to mostly trouble-free cruising for a couple of years.

Ted