Honey, WTF Did We Just Do? Boat-Buying Dream Crushed-Is This Even Affordable?

[@davedavids9619]

Purchase price can be seen as expensive or as cheap. If you buy a boat, where a lot of work is needed, but you are able to do that yourself then you have got yourself a great deal. However, if you need to hire someone to do the work for you then it may be cheaper to buy a boat which is in a good condition. Exchanging corroded tanks, rewiring, engine overhaul, structural works etc it all costs a lot of money. Slips in the US are, for us Europeans, even in Florida, still very cheap. Paying 1500 - 2000 euro (about 2300 USD) per month is pretty normal in the Mediterranean for a 50' boat. And many marinas are now changing their pricing to the point where you cannot rent a monthly berth anymore. You either need to pay for the whole year or you will pay a daily fee. Daily fees are now between 150 and 400 euro per day in countries like Croatia and Greece. Turkey is more like 300 - 500 euro per day, so it is becoming pretty expensive. Insurance on the other hand is cheaper than in the US.

[@ronr3549]

Great info! Several Marina's on the Waccamaw River in Myrtle Beach, SC are about $2.25/foot month-month. So our future 39 footer slip will be $485/m. And I've been w Geico for 7 years and they quoted me $2,500/yr for the '97 Mainship 350. Thanks for all you do Captain Paul! Keep it coming!

[@ronr3549]

Geico originally quoted 1,900, but was using my home address in Charlotte, NC.. go figure, new quote this morning, they put me in the marina in SC and it went up $500... Original quotter said I didn't need a survey, now this person said I do.. SNAFU!

[@NoRegretsLifestyle]

Thank you 🙏🏻

[@charlesdavenport2543]

Tell them you brought it down the Catawba.

[@daryllarson9615]

@@ronr3549 I tried to get Geico, same thing jumped through hoops and still didn't get it. I went through National Boat Owners Association they were awesome. But you will need survey at least 2yrs or less.

[@ronr3549]

New quote from State Farm $1,950!!

[@doncritzer2798]

In Michigan we have to haul our boats out every winter, winter storage was 1100, then marina for the summer was 1400, so 2500 bucks a year, 36 foot GrandBanks.......that'll get you 5 months in Florida plus no haul outs 😅😂😮

[@davedavids9619]

@doncritzer even in Florida you should be happy, in the Mediterranean it would only get you 2 months, at most.

[@NoRegretsLifestyle]

Thanks for sharing

[@doncritzer2798]

Im at Palatka for the winter, less than 500 a month for a slip, i was paying 600 a month for a mooring ball at overpriced St Augustine.....Grand Banks 36, insurance 1800 a year.....Florida seems like they dont want livaboards, like we cant buy a car and register it unless we have a physical address with a utility bill, or city marinas have limited stay then they kick you out i hate that bullshit

[@NoRegretsLifestyle]

Thanks for sharing

[@chrismatthews228]

I’m on the Ohio River downtown Louisville Ky for $3500/yr. It’s a 70 ft slip, however there are marinas near by at dbl and triple that cost. My after purchase costs have reduced significantly as I’ve done more self inspections on items such as all stuffing boxes, bilge wetness causes, ac inspection, engine checks for oil, water and fuel leaks. Thru hull condition checks. Basically I’ve learned to perform in water and out of water surveys and because I’m OCD I catch stuff the surveyors sometimes miss. I conduct my survey on every boat I’ve purchased and this has helped reduce my after purchase repair expenses. The wife is happier because she has more budget to buy the fun stuff!!

[@NoRegretsLifestyle]

Yes the more you can do the better, thanks so much for watching

[@mongi4435]

You’re always out doing something congratulations. Love a job that you actually love you ever in. Jupiter looked me up.

[@NoRegretsLifestyle]

Thanks will do

[@justTheInfo]

Location, location. Marathon,Fl is remote with little to no opportunity for competition. Mobile Bay comes with lower slip cost and lower insurance and for good reason. There is no place in Marathon to shelter when the storms come and they come every year. There is a sweet spot Alabama to New Orleans that sees less storms than Florida or Texas. Insurance rates reflect it.

[@NoRegretsLifestyle]

Yes agee

[@justTheInfo]

@@NoRegretsLifestyle We would welcome you back to the neighborhood.

[@csranch2000]

Here in Kemah Texas it is about 400 for a 40 ft boat and 3000 in insurance for the year.

[@NoRegretsLifestyle]

Thank you 🙏🏻

[@jimreid67]

Key West was going to be $6000 for a month for us this year. We are heading to Texas for the winter. $450 a month.

[@NoRegretsLifestyle]

There are always options

[@michaelrizzo5492]

I am not buying a boat because of slip fees and insurance rates. You just can’t trust the marine industry at this point. Or at least those two parts of the marine industry. I will hold onto my money until things settle down. And if they don’t, I will still have my money.

[@NoRegretsLifestyle]

Slip fees have gotten out of control

[@doncritzer2798]

​@@NoRegretsLifestyle big corporations buying up all the marinas

[@Rainmaker60LM]

slip costs and insurance are only going up they will never be less than they are now. We pay 15K for a 60Ft boat for 6 months of dockage in Rhode Island, Our insurance is about the same.

[@NoRegretsLifestyle]

Thanks🙏

[@danfitzpatrick5054]

Seattle - 47’ slip $1200+elec

[@NoRegretsLifestyle]

Thats not bad

[@daryllarson9615]

I'm in St. Pete. $1063 plus electric, $1800yr to insure 43' Hatt I average $500 a month to maintain, I do most repairs/upgrades myself.

[@NoRegretsLifestyle]

That’s not to bad for St Pete thanks for sharing 🙏🙏🙏🙏

[@rhark25]

Price of marine gasoline doesn't seem to be coming down, at least not yet. Still $5.45-$6 in west central Florida when you can find it after the hurricanes.

[@NoRegretsLifestyle]

Some places are high but even in Florida I pay less than 4.00

[@rhark25]

@ for gasoline?

[@markmisske6875]

I have a GB 36 and also have the feeling that only the money gets pulled on the pocket when it comes to the boat! Prices are demanded where you can't breathe! You have a boat, you can pay for it! It's a real shame! I fight every year to keep my boat...

[@NoRegretsLifestyle]

Thank you 🙏🏻

[@markmisske6875]

@@NoRegretsLifestyle The goal is not to give up! Don't start questioning the costs. Those certain moments you have at sea are worth every penny!

[@BigDreamsBoating]

Prices are not coming down for marinas… because why have a marina when I can build condos??

[@NoRegretsLifestyle]

Yes i agree

[@michaellipman3172]

Capt. Paul, I live on a 46 aft cabin year round in port washington ny. Western Long Island Sound. My slip rent is 1000/month + electric . I bought her for 30k to make her really nice I am in at 90k. This includes a super heating system and lots of other up grades. She is a great diesel live a board but not a good open water vessel. Capt. Michael, Silver Lady

[@NoRegretsLifestyle]

Thanks for sharing

[@jimreid67]

Key West was going to be $6000 for a month for us this year. We are heading to Texas for the winter. $450 a month.

[@NoRegretsLifestyle]

That’s always an option and you don’t have to pay those high prices