Who has bought a boat new before and still has it? (any long timers)

[locodave]

Hey guys,

Thinking of buying a brand new boat, not sure whether its the best idea, I mean I could use that $75k wisely somewhere else but something is telling me to buy it regardless

I'm 32 btw!

I'm not even a good fisherman, but love being on the water casting a line or hanging out with mates.

Now just curious to see how old you were (if you wish to say) when you bought your new boat, what brand, motor and if you still have it? Have you had any issues? Any regrets?

Do you ever wish you bought an investment property instead or use that money wisely somewhere else?

Just curious to see what other raiders have done

[michaelrdoyle@gmail.com]

Mate.......

I love boats. I love fishing. And I love your enthusiasm.

But I'm going to act like a wet blanket - sorry!

Buying a boat will be the worst financial decision of your life. They say the best day in a mans life is the day they buy a boat - and the day they sell their boat! It's a depreciating asset. It will cost you big $$$ to keep it going. Petrol. Servicing. Repairs. Insurance. And you'll only end up using it a dozen times a year. And in 10 years it will be worth - much much much less.

$75k would go a long way to buying a house, paying off a mortgage, investing in shares or an apartment, or something like that - and will keep going.

The blunt truth is - spending that money on a boat is bananas.

And there are alternatives - if you hire a $75k boat a dozen times a year at $300 a day (say Boab Boats) - it will only cost you $3.600 pa - which will be less than the insurance and upkeep of a boat by itself. Over 20 years it will cost you $75k - whilst your own $75k has appreciated at 5% per year - and is now worth well over $200k.

however.......

just to throw a little bit of light - and stop being such a negative nancy....

Owning your own boat is a lifestyle decision - not a financial decision. If you fully realise the real costs and the opportunity costs - which is big money - and you say "it's worth it" - then go for your life. Don't have regrets. Get the baby you're after and enjoy it!

(I speak from a relatively privileged position of borrowing a family members boat - and dreaming of my own boat!)

Mike

[locodave]

Good answer there Mike, thanks for shattering my dreams

I totally get where you are coming from though, so thank you for your reply in all honesty. Let's see what others think.

Maybe get a Wife first, she can pay the other half.

[Onemancrew]

Make the boat the actual house itself? Kill two birds with one stone maybe?

[Linc]

why do you need a $75K boat unless you're planning on serious offshore fishing or overnight stays.

To answer your question, I bought my first boat in 2012 (I was 29), brand new and still have it and have not a single ounce of regret, I use it a lot more than a dozen times a year, average at least twice a month, more when friends or family are up in Sydney or if the Mrs is feeling generous to give me an extra leave of absence!

Mind you I didn't spend $75K, mine was $18K and only a 4.3M tinny but I love it and it gives me a sense of pride, it also makes you very popular all of a sudden lol

[Scratchie]

Mate, buy a boat and change your life! That's what I did and move from the rat race and started to enjoy life. We are only on this earth for a short period of time, enjoy it!

I bet Kerry packer on his last legs didn't lay there thinking how much money he amassed. It would have been the times he shared and enjoyed with his family and friends. If you enjoy spending time on the water, don't wait until your old and cranky to experience life! Do it now! IMO

Cheers scratchie!!!

[locodave]

why do you need a $75K boat unless you're planning on serious offshore fishing or overnight stays.

To answer your question, I bought my first boat in 2012 (I was 29), brand new and still have it and have not a single ounce of regret, I use it a lot more than a dozen times a year, average at least twice a month, more when friends or family are up in Sydney or if the Mrs is feeling generous to give me an extra leave of absence!

Mind you I didn't spend $75K, mine was $18K and only a 4.3M tinny but I love it and it gives me a sense of pride, it also makes you very popular all of a sudden lol

I know what you mean about the popularity haha, all of a sudden your uncle cares about you

[chocolate]

I have bought a new boat before trailcraft , Then sold it to buy something bigger. Unless I had money coming out my u no what never ever aging. Second hand boats are the go , Put a new motor on and you are still in front dollar wise. Plus if you don't know what your looking at when it comes to extras when buying new look out , In other words do your home work or ask people on this site who know there stuff when it comes to boats. When I bought my trailcraft there was the same boat as mine up at south west rocks , This guy paid more than me and I got a better deal than he did and this was done from the same dealer LOL. It pays to ask for advice, To save dollars and not get RIPPED OFF.. I myself have quite a big boat but find it hard to get out due to family , work ,ETC. Think hard before you buy big its a decision. AGING IF YOU NEED HELP ASK AND THEN ASK AGAIN its your money.

[oz_brett]

I purchased my first "new"boat at about 31y/o 4.75 stacer with 50 2 stroke yammy on the back, I loved it for 11 years & sold it for $3000 less then I bought it for but in that I did replace power head just b4 selling. = 11 years used at least twice a month for all that time NO REGRETS!

Purchased currant boat @ 42y/o (7 years ago) still have it, still love it & still using it about 2+ times each month Stessco 6.1m centre cabin with 150 Honda. We bought a house before spending the $ on the boat. I often think it was a lot of money to pay for a hobby but if some one was to return my money in exchange fore the boat I would go strait out & buy another just the same.

I would say buy a cheap house & get in front with your payments, before you know it you will be able to have both house & a boat!

[big bell]

Having had an old hand me down 4.3 glass boat which was good for the lads to fish from , now the family is of boating age aka kids

we decided to upgrade last year , we had a budget they grew 3x in varying thousands , Brand new was do able but not in the size or type (bowrider 5m mix of family and fishing).

that left 2nd hand boats ,thru sheer effort and luck I found a stacer sportser 549 (inboard motor)

it was 6 years old with only 14 hrs on the motor with a minor ding and some rubs (didn't use fenders on jettys)

part of the sale was he had a 100hr service carried out and he d just renewed the rego and insurance .. sweet!!

off the original paper work this boat cost him $ 39980 I bought it for $24000 , that was four months ago the boat now has 51 hrs

we bought it as a life style for our family for many adventures in the future too, unless you have lots of disposable income 75k is a huge amount to spend for a start up.

you can get a brand new forward control tinnie for 18- 20k that would be a good start

btw im 32yo married 2kids and paying off a house I would have loved brand new but live within my means

although you only live once!!!!

Edited January 21, 2014 by big bell

[njsconst]

Loco,

I recently was on the market to upgrade to something bigger and had the green light from the minister of finance to buy new (roughly the same budget you have).

For six months I religiously scrolled through boatsales.com at both new and second hand boats. I ended up purchasing a Whittley Sea Legend 6.5 with F200hp Yamaha. The boat was three years old and had 14hrs on the clock so it is virtually brand new in immaculate condition. These boats retail for $78k out of the show room. I jumped on it and saved myself $25k.

The moral of the story is know your product and market price, a boat is only worth what someone is prepared to pay. There are plenty of second hand late model boats on the market in very good condition. You will save big $$$$ by being something a couple of years old. They reckon a boat deprecates up to 20% in its first year.

Either way you decided to go, just make sure you use it and get your value out of it. Nothing worse then seeing boats on trailers (and in marinas) not being used rotting away with neglect.

Good luck with it.

[locodave]

Just to make sure, this isn't my first boat. lol I am not that crazy! This would be my 6th boat!

[mii11x]

i was 31 when I bought mine new, though it wasn't a 75k boat, cost me 18k on the road/water, try to use it atleast once a week. 4.5m brooker side console 50hp mercury, trolling motor etc. I had atleast a dozen mates telling me they would come fishing all the time etc etc maybe three are regular fishing buddies. I try to service it twice a year @300 a service. two 25litre tanks last me about 6-8 trips depending where I go - usually georges chasing jews, occasionally shoalhaven river. it would have no prob though towing a biscuit and have a couple of mates with me if that your interest.

75k will get you a reasonably serious rig mate, fishing dedicated, and I agree with mikes post, unless you use it regularly ie more than once a month 75k would be better off on something else. don't get me wrong they are a tonne of fun, but even moving from my old tinny to the new boat, I use it less or maybe I should say not as much as I would like. I wouldn't be able to launch a boat in the size range of 75k myself, so you would want to have a mate with you. what sort of craft you been thinking about more fishing related or skiing??

if you want to really get into fishing, maybe not go so large so early, 25-30k could get you something nice new and you still got leftover cash. **** buying a boat just to have more than three mates on it though, like I said earlier all the "when you taking me out fishing" mates barely come when push comes to shove. and if you really stupid like me and want to fish every night, don't get a missus lol.

pretty serious decision you have mate, if it were me, at this stage of my life (36 in may, single, rent) and I wanted a boat but a house as well........10-12 would be spent on a boat and the rest on a deposit.

[Linc]

Just to make sure, this isn't my first boat. lol I am not that crazy! This would be my 6th boat!

well that changes things a bit...

Sounds like you have the dosh, do it before you get married and can no longer make such decisions for yourself

[Devil Ray]

Buy a boat, you cant fish out of a investment property..... There i said it......

[The Incredible Hull]

Buy a boat, you cant fish out of a investment property..... There i said it......

You can't retire just off super either...

[rexaway1234]

i built a new boat at 36 and was very lucky and able to build a custom 2300 noosacat at 140k just at end of 2012.... its debt free which makes it not for such a bad mindset sitting in my yard and I dont have that hanging over my head so i can enjoy it in freedom

but you will get both schools of thought here and they both right about what you could do better with your money but this is the best quote above

"Owning your own boat is a lifestyle decision - not a financial decision."

If u dont own property and have to borrow the 75k I would think this is bad bad at your age. if u sell it in future of course u will lose some money but not at all most of it remember it will come back if you ever really needed it

If you can afford new then there is no surprise left by someone else and u can keep the boat in immaculate condition from the beginning yourself knowing inside out which is important to me and piece of mind 70km offshore you cannot put a price on

As long as you know and understand that you can spend the money and the upkeep knowing that you have it for a reason and enjoy it every time u can instead of worrying over what it cost u

Time goes so fast we here for a good time not a long time

[macka17]

Hi.

B4 you kook at the price.

Look at what fishing you going to\want to do.

Then assess what boat size\type is needed to SAFELY do that. in your area. in your sea conditions.

If you HAVE the dollars in your pocket (Not borrowing./) and where you want to be in life. Go for it.

ANy boat in your minds range.

If you have to borrow.

Well. Myself. I'd join a local club. See what they use. AND WHY they use them.

and get one to suit.

A second hand 3 to 5 yr old Probably tinne AIn't much different to a new one nowadays. Unless it been thrashed.

and a lot cheaper than new with extra's on it.

My first fishing boat in this country was a stacer 4.2 with 30 Johnno on back. Had for tenish yrs.

Next one was a SeaJay 4.5m. with 75 Merc. also ten yrs or so.

This last one is an '02 Stacer 5.25 Bow Rider first with 75 Merc. Now a 90 Opti Again Merc.

That'll probably be my last I'm 72 now. and all through those yrs I've also had Ocean Yachts. 34 ft and 42 ft. Both steel.

In this country.

Others in other country's prior to '73 when I arived here.

My son (eldest) 47yrs. has the boat Still that I bought for him for his 20-th B.Day.

5 mtr tinny third engine, Again an Opti.

They last forever. Find one size\type to suit you and just keep rebuilding trailers and updating motors.

I just rebuilt my trlr last yr. '02, same yr as boat. Them with my rooftopper 2.75 and Yammie 15 will see me out.

Last yacht I sold 5 yrs ago (crook knees).

Buy a boat to suit your area and type of fishing you do. rather than price point.

[Berleyguts]

Bought my new boat at 53. This is my 3rd boat. The first was a 10ft punt that fell off the back of a truck (literally). The 2nd was a 2nd hand 4.0 aluminium runabout. I traded this on the new boat, a 4.49m Stacer Outlaw side console with 60hp Evinrude Etec, Minn Kota iPilot.

Absolutely love it! No issues. Only regret is that I haven't put it in the water yet... I only picked it up 2 weeks ago. Will christen it very soon! The wife was very kind to me and suggested I buy it - but I will probably have it until I die!

$75k is a lot to spend on a boat and I certainly couldn't have spent that at your age. I guess you have to consider the usage, ongoing costs and weigh that up against real estate. If I was in your position I would find a boat for half that or less and put the balance towards a house. Just saying.

Baz

[macka17]

addendum.

I'm in the process of updating my Furuno 6100 and Rayethon 3 1\2 in colour screen sounders plus a Garmin GPS

(Old. like me)

What is a good. (Below around $1000) Combo unit to buy nowadays. That's reliable.

O\S not worth it now the AU$ has dropped.

[Linc]

addendum.

I'm in the process of updating my Furuno 6100 and Rayethon 3 1\2 in colour screen sounders plus a Garmin GPS

(Old. like me)

What is a good. (Below around $1000) Combo unit to buy nowadays. That's reliable.

O\S not worth it now the AU$ has dropped.

not sure if this fits into the poster's topic, but speak to Huey from Huett marine, he hooked me up with some very sound advice and I ended up going with a Simrad unit that I am absolutely in love with, touch screen makes things just so simple!

[mr475]

Spending money wisely is seldom fun.

When you indulge in a hobby, it costs and the money may not be recouped. That is the cost of enjoyment. We bought our first boat second hand to see if we liked it. We did and 5 years later we are looking at upsizing. And the model of our boat is currently selling for more than we bought it for. And we are not bound by hiring times and limits. Running costs are a part of it.

If a new boat is what you want to feel happy, then a new boat you should have. Fun has a cost, it is not an investment. But you can compromise within reason.

As the saying goes, "I SPENT MOST OF MY MONEY ON FAST WOMEN, FAST CARS AND BOATS. THE REST I JUST WASTED."

[Reesn]

Mate. I have a 15ft fiberglass half cabin with a 40hp mariner on the back. It's maybe 15 years old,Worth maybe $4000.

I put a live bait tank on it. Down rigger. Lights and a radio. Keep the engine serviced regularly and it's a awesome boat.

I think you should still buy a boat mate. But not one that's going to cost you a heap of money.

Good luck mate

[Geoff]

As others have said , it's a life style decision , not financial.

I'm in my 60's & have been around boats , in one form or another , most of my life

In 2003 it was time to upgrade from my 4.3mt Quinnie (a great little boat) to something bigger.

I wanted Aluminium partly due to durability but also weight for easier towing but was concerned with the problem most alloy boats have , "tinny bang"

Searched around & found a Webster 4.6mt twin hull. It ticked all the boxes , especially the tinny bang problem.

Back in 2003 they cost new , around $28k. Today boats of that vintage , in good condition , are bringing around

$25k.

A loss of $3k over 10 years I think is more than acceptable.

As I have not come across any thing in the 4.6 - 4.9mt Aluminium range that comes near the Webster there is no need to change.

With the possible exception of health reasons , it's highly unlikely the boat will be sold in the foreseable future.

Geoff

[sydney south]

I have always had a boat - started at 8 years with a 8ft ply boat with a 3hp Johnson.

Yes boats are not an investment. I have spent and lost money owning boats.

My family and I have had so much fun on our boats. From general boating and relaxing, fire works on the harbour and then to the bay and off shore fishing. So you could say that we have had or monies worth.

I can not see myself without a boat.

We have never been on a expensive overseas trip, but enjoy the boating. Even now, my kids have just got their boat licences and I am going to buy them a tinny, so that they can go out and do some boating.

I agree, you do not need to buy a $75k boat. A much less priced boat will give you the same value at the moment and then buy the $75k boat later in life.