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I'm looking into buying a slip as an investment and for personal use and was wondering how much they cost in other parts of the country. Currently in my area of NC they are about $2,000 per foot for either a wet or dry slip...if you can find one. Only a few are up for sale at any one time. Currently there is a 45' wet slip in the premier marina...asking price $199,000. There was a 36' for sale last year for 72K....talk about appreciation. Is this typical for other areas in the US?
this is just me i will never do to condo slip. the only condo slips in my area turned out to be a joke, people payed 25,000 new for these slips and 20 years later u can't give them away for the maintenance fees. they had to assess very body to dridge the marina after ten years and at 15 years they needed new docks that was 5000 per dock to the members. i don't want to be stuck at one place if the services start to go down where i'm at i want to be able to go some where else.
GB, you must be around Wrightsville. They are high and going up fast. It is all about supply and demand. The area is growing but there are no slips being added. I have read parts of Fla are the same way. It must depend on the region. Dockage is less expensive around MC since there are many more marinas.
A friend bought a 36' wet slip off the ICW at Wrightsville last fall for 74K. The last one on the market just went for 85K. The next will likely sell at 90K. He wished he had bought all 3 that were available so he could have sold in a few years to pay for his. Amazing.
Well here in South Florida, Jupiter to be exact, it is even worse. In our complex, we turned down a 55 foot slip a couple of years ago since they were asking $60K. Now, a 33 foot slip in the marina is selling for $215K and another is on the market for $275K. I don't know how you can justify that value given that you still need to pay around 250 per month for condo fees and you also have to pay property taxes on the value of the slip! I would guess the costs per year for that slip just for fees and taxes will be almost $6K without considering the cost of the slip itself.
I guess it is the new math.
__________________ Sabre 38 IPS at Stuart Corinthian Yacht Club Manatee Pocket
For some reason baby boomers are moving to the coast in droves, either retiring or buying second homes. I have always had a coastal connection but for many it is a new desire. The demand is far exceeding the supply in many areas. Wrightsville Beach is rapidly becoming a mid-Atlantic Palm Beach as property values on the island have doubled in the past few years. It will not be long before anything other then a shack will fetch 1 mil even a few blocks from the water. In fact for several years folks have been tearing down small houses and replacing them with 4000-5000 sq ft vertical houses since the property is much more valuable then many houses built in the 40s and 50s.
The effect is felt just miles from the beach as those properties are now skyrocketing. Of course all this effects dockage as well since for every so many homeowners there is likely a boater as well. I fully expect to see dry stack slips hit the 100K mark within a few years. You had best believe I am glad we bought ours and a rental slip as well. Otherwise boating would soon be out my budget.
I am sure there are other very hot coastal markets on the east coast as well.
You are right Troll, I live in Wilmington. I think the problem is compounded by the fact that there is only one boat ramp with inadequate parking. That lot is full even when I ride by on a weekday....not to mention a weekend. Add in the traffic and trailering is a real hassle down here.
I don't know if you saw recently but a 45' wet slip at Bradley Creek is asking $199,000. With the other inlets closing up these ridiculous prices will only go up. I wonder what will be the upper limit? For someone with a 50 foot boat they will probably be willing to pay about anything for a slip because they have more money than they know what to do with. At some point people with 20 to 30 foot boats will either find another hobby or start trailering...but that is not an appealling option down here if you don't have access to a private boat ramp (which I do fortunately). When you factor in $60,000 for a boat, $60,000 for a slip, and the price of gas going up.....inshore flounder fishing in a johnboat is sounding a lot more appealing.
I own a slip at Harbour Village Marina in Hampstead, which is about 20 miles north of Wrightsville Beach. The prices were just raised to $2,500 a slip foot. It boggles the brain to think that slips cost that much that far north of Wilmington and the Topsail Inlet is shoaled up and you can't get out unless you have a shallow drafting outboard. Go figure. Also, land values in our area along the ICWW have gone up 4 fold in the last 5 years.
GB, there is NO upper limit. Much like a 2500 sq ft house 20 miles from San Francisco would likely fetch 500K, high demand, low supply areas will continue to soar. Montana is probably still affordable.
We have plans to cash in both houses in 5-10 years and buy our dreamhouse within 5 miles of the beach. That house likely would have been $400K in 2000. This year it is over 600K and climbing. We are worried we will have trouble having as nice a house as we have now. It is amazing what is going on down there. Money is pouring in - prices are rising even faster.
I suggest anyone planning to boat in SE NC BUY NOW or pay bunches more down the road.
I'm looking into buying a slip as an investment and for personal use and was wondering how much they cost in other parts of the country. Currently in my area of NC they are about $2,000 per foot for either a wet or dry slip...if you can find one. Only a few are up for sale at any one time. Currently there is a 45' wet slip in the premier marina...asking price $199,000. There was a 36' for sale last year for 72K....talk about appreciation. Is this typical for other areas in the US?
You can get a lot of this information by doing a web search on marinas in the area you are considering. Many post rates, all have contact information.
We live in Phoenix, Arizona. I wish we could own our slips, but now I will reconsider. We can only rent our slips on*a yearly lease payment. Most of the time there is a 2+ year waiting list. I actually rent the slips before we purchase a new boat.*Here is what we pay;
Katherin Landing (Lake Mohave on the Colorado River) a 56' houseboat slip, with electric, water, no phone or cable is $511. per month, including taxes.
San Carlos Marinia (San Carlos, Sonora, Mexico) 40' slip, electric, water, no phone or cable is $400. per month, no taxes.
I now feel I'm getting a bargin, until they raise the fees again.
You are probably correct. I just used a number from a coworker who moved back here a few years ago. It makes sense how folks from NY (I am being polite) can sell a midsize house and buy a mansion in NC. The bad news is they are running up our prices as well.
You are probably correct. I just used a number from a coworker who moved back here a few years ago. It makes sense how folks from NY (I am being polite) can sell a midsize house and buy a mansion in NC. The bad news is they are running up our prices as well.
I'm looking into buying a slip as an investment and for personal use and was wondering how much they cost in other parts of the country. Currently in my area of NC they are about $2,000 per foot for either a wet or dry slip...if you can find one. Only a few are up for sale at any one time. Currently there is a 45' wet slip in the premier marina...asking price $199,000. There was a 36' for sale last year for 72K....talk about appreciation. Is this typical for other areas in the US?
You can get a lot of this information by doing a web search on marinas in the area you are considering. Many post rates, all have contact information.
Some of the marinas have poorly updated websites, but many of them don't and a lot of slips are sold directly by owners. I know what they cost in my area by calling around and looking in the paper, just curious what they cost in other areas. As an example of what's going on down here, a 31' dry slip was recently in the paper listed for 54K. A friend of mine called the seller who said the price was now in the 60's and there was a bidding war taking place and he was welcome to join in. The slip eventually sold for upper 60's within a few days.
We paid $270 K for our slip 3 years ago just off the ICW. It has 5' at low tide, a 35' dock and room for a 100' boat. There is real estate included which also provides room for our 42' Monaco motorcoach. Prices have really gone up. Our investment has doubled, going on tripling. The slip is what sold me but the wife wanted the 2,000' house in part because we have no vehicle traffic. Fresh water here so corrosion is less. It's 26 miles to the gulf and 110 to the Atlantic. Tarpon are 4 miles away. Hooked a dozen or so last year, 5 so far this year. Eat your hearts out, boys.
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Knot for Profit
01 Pursuit Express 3000
MrPat, The way most of these things work is it is a 99 year lease. When you buy new you get the whole 99 years, when you buy "used" from an owner you get the unused balance of the 99 year lease. I bought mine with about 88 years left on the lease. I figure I will be long dead before then.
Basically when you buy a dockominoum you are buying air. The assciation owns the dock and all common areas. In our case there are 124 slips plus the club house and parking lot, each owner owns 1/124th of the entire facility, nobody is allowed to own more than 3 slips. You are buying, instead of renting, the right to park your boat and use the facilities. We just bought a 40'x18' slip for $23000 in New London, Ct. The prices are definately on the upswing in the cyclic nature of the business.
How much do boat slips cost in your area? 
