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So I have been boat shopping for what seems like forever. Worked like a dog in construction all my life (42 years old). So much that I have already had a blown disk in my back. Own my on business. My family has everything they have ever wanted or needed (not bragging).
Been looking/wanting a 31T, 32 YF, or 33Inv for a long time now. Even have a deeded boat slip to keep it in and a place on the water. Fell on some hard times in 07 because I am a homebuilder, but I have dug my way out into a good position now (again not bragging). BUT for the life of me I can't pull the trigger. Tell myself I don't need it, not the right time in this economy, etc. etc. So I need some advice. Just how the hell do you justify pulling the trigger on a 150K boat from those of you that have.
Maybe I need a psychiatrist, all referrals welcome.
Life does not go on forever. By the time some people figure that out it's too late to make life happen.
I wouldn't necessarily advocate taking on a huge debt but if you can put it together at least partly in cash make your dream come true. If you're not happy with your decision in a year or two then put it up for sale and go on to something more satisfying. Don't let your dream slip away.
49 years old, own mechanical contracting business, own my house, no debt. Paid for daughter's college. BTW, had a herniated disk in back and 2 knee surgeries.I justify it because of a few reasons: My boat is about $100k, so less cost. All paid for, no loans. It's really all I do, no golf, no bars, no softball, nothing.But mostly because my business partner saved everything for an early retirement and he died from cancer at 44.If you can do it without putting yourself in any economic risk, go for it. BTW, forget resale,etc. You will lose money on a boat. But it's worth it.
Unless you plan to use the boat to put food on the table like a charter or commercial fishing vessel then you can't justify it. These boats are toys, expensive and complicated toys but toys none the less.
Look at it this way, some people take a vacation every year that costs $20K or more. Do they need the vacation? Nope......they want to relax and see new places. You want to spend time on the water so if you can comfortably afford the toy (boat) then buy it.
Like someone said above, don't wait until you are to old to be able to really enjoy it. Buy it now.
Location: Norfolk VA (home) Kitty Hawk NC, Tucker's Town Bermuda, Sarasota FL, Tuscaloosa AL (School)
Posts: 557
Our boats are hard to justify, but the memories made, the fun times had, and the new places we discover, outweigh that. Now is such a good time to buy if you have the means. I just sold my 31T, and the buyer got such a killer deal. If you really shop around, you'll find a great deal, and I think you'll be glad you pulled the trigger.
So I have been boat shopping for what seems like forever. Worked like a dog in construction all my life (42 years old). So much that I have already had a blown disk in my back. Own my on business. My family has everything they have ever wanted or needed (not bragging).
Been looking/wanting a 31T, 32 YF, or 33Inv for a long time now. Even have a deeded boat slip to keep it in and a place on the water. Fell on some hard times in 07 because I am a homebuilder, but I have dug my way out into a good position now (again not bragging). BUT for the life of me I can't pull the trigger. Tell myself I don't need it, not the right time in this economy, etc. etc. So I need some advice. Just how the hell do you justify pulling the trigger on a 150K boat from those of you that have.
Maybe I need a psychiatrist, all referrals welcome.
Good questions- Im 42 as well-
I decided rto build a custom boat last August 2 months before the world came apart- Id do it again in a heartbeat.
There never really is a "good time" you just have to want it in your heart. Then do it.
Boats prove having fun is a lot of work- the younger you start the more you'll enjoy it.
It'll we be worth every penny you spend- yourself your family and your frinds will begin building many memorable experiences centered around this "toy"- far more than a fast car- as long as you actually use it
You must use it often though or the purchase will ultimately not feel worth it- the more you use it, the more youyll realize you should have started in your 20's...
Like a swimming pool, or exotic car if it just sits then you didnt make a good choice- once you buy it tell yourself your going to wear it out and then go do it.
A boat is not an investment, its a liability.
Some boats depreciate like used hand grenades, others hold up better,
Few to none of them appreciate-
My boats are the most enjoyable liabilities I actually own.
you will probably never be able to justify a toy with that price tag i to would love to buy a boat like that and probably could but ive been over this thought many times myself and i just wont left myself do it and ive come to accept thats how and who i am and maybe thats why i am in a pretty good financial shape with no debt, also not bragging but feel pretty fortunate especialy considering economic times dont get me wrong i have a boat but nothing of that value but it does make the boat much more enjoyable if its not stressing you financially just my take on it everybody looks at it differently if you think you would be happy with it and can afford it go for it.
Not too many Sundays ago, I was 20 miles offshore fishing on our old, aging POS boat. Flat calm day, no other boats within eyesight. Spent a few hours having a cold beer, relishing in the beauty of the ocean, catching and releasing dozens of dolphin. It was "a day for the ages" which I will cherish for life....
Less than 10 hours later I'm sitting quite unexpectedly in an oncologist's office discussing my wife's odds of surving her just-found cancer.
Months of surgery's, chemo and radiation therapies later, we've bought a bigger, better boat which we "shouldn't" have purchased, but now find ourselves on the water 4 days a week instead of 1 time a month, appreciating the HELL out of every second we have the opportunity to be on the water.
As another poster said, we don't live forever. Some of us might not make it to next year. If you have the means and opportunity to give yourself and your family pleasure, create memories, and really enjoy life responsibly, you're foolish for not doing so.
I am 41 years old and just pulled the trigger on a 31 Contender Fisharound 2009 - the boat cost more than my first house. 9-11 gave me a whole new outlook on life. Think of all those people who went to work that day, and didn't do the things they wanted to do and never came home. I am not saying do whatever you want and do not worry about tomorrow but you damn well better do it right while you are here because you only go around once and you never know when your number is up. If you can afford it - and you know the answer to that - then do it. Then take your wife and children out and enjoy it.
all laid out many times over above (none better than SFla - prayers that everything goes well with her treatment).
the only thing i would add is to look at a couple of lower tier boats in the same length so you can see what $150k is getting you. it may not make it any easier to pull the trigger, but you'll feel like you are getting what you paid for.
and another thing, you worked hard for this money? what's your end game? leave it to the kids so they can buy the $150k boat?
Buying a boat is the most irresponsible and frivolous thing you could do, trust me, I know, I have four! If the purchase doesn't take food out of your family's mouths, if you believe this economy won't get too much worse before it gets better, if you are ready to start burning through $100 bills by the fistful, if you are ready to sweat all of the details, rather than having a professional sweat them for you, if you'd rather have a boat than a race horse, mistress, or a cocaine habit, then you are definitely ready.
It's been said over and over again here. You can't "justify" a boat purchase at any price unless you actually need it for transportation or plan to make a living with it. You just have to decide whether your want is a want that you can afford, and then pull the trigger. Despite what people say, if you can't bring yourself to spend $150k on a toy, you can be happy in a less expensive boat but by all means, if you're going to buy a boat, don't buy one you don't think you can be happy with.
If you're like me and all you can bring yourself to spend is $35k (I could afford more) some guys on THT might turn their nose up at you, but trust me....the fish and your friends who want to catch them won't!
__________________ -Rich-
Igitur qui desiderat pacem, praeparet bellum
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How can you justify this?
