Can I Afford It?

[WaterDweller]

I?m young, but my dream is to own a boat. As a Police Officer making about $60,000 a year excluding overtime, which can add another $20,000 a year to a salary, will I be able to afford a boat? I want a Sport Cruiser that?s at least 20 feet long so I can go inside it and relax. I also want it to be relatively new.

 

[KCook]

Re: Can I Afford It?

Err, if I were one of those life coaches then I would say "buy house first, boat later". Translation: really depends on your situation.

Kelly Cook

 

[tic]

Re: Can I Afford It?

60k+20k in overtime isn't a bad salary!.. Realize a new boat will probably cost about that.. We are looking at a 22.5 foot Regal cuddy cabin.. It's gorgeous and cost about 60k all decked out and optioned the way we want it.. Can we afford it?.. not really! but the wife and I are just really in love with it and are willing to make sacrifices in other areas. Of course it all depends on your situation and your current expenses but I say go for it. You might get shot by some Ahole on your next shift, lifes too short

 

[tommays]

Re: Can I Afford It?

Well if you lived on Long Island it would NOT be a lot of money as a handyman house 400k +

But then if you live in North Carolina it would be a bit different



Tommays

 

[WAVENBYE2]

Re: Can I Afford It?

Depends on how bad you want one, anything is possible Can most of afford a boat or do we put up with it because its what we enjoy and love to do!! B.O.A.T = Break Out Another Thousand

 

[WaterDweller]

Re: Can I Afford It?

Well if you lived on Long Island it would NOT be a lot of money as a handyman house 400k +

But then if you live in North Carolina it would be a bit different



Tommays

Actually, we are from the NYC area. I love the place to death, but I need a place that?s warmer. I need a place that?s great for boating year round.

 

[WaterDweller]

Re: Can I Afford It?

60k+20k in overtime isn't a bad salary!.. Realize a new boat will probably cost about that.. We are looking at a 22.5 foot Regal cuddy cabin.. It's gorgeous and cost about 60k all decked out and optioned the way we want it.. Can we afford it?.. not really! but the wife and I are just really in love with it and are willing to make sacrifices in other areas. Of course it all depends on your situation and your current expenses but I say go for it. You might get shot by some Ahole on your next shift, lifes too short

You?re right. Gotta enjoy life!

 

[WaterDweller]

Re: Can I Afford It?

How about living on a boat? Is it the same as a house mortgage? Can I get a large boat to live on making 80k a year? Say $200,000?

 

[tic]

Re: Can I Afford It?

I'm told that any boat with a berth is considered a second home so you can use it as a tax deduction.. One dealership we have been talking too says he can get us 20 year financing!.. Personally I wouldn't finance a boat for 20 years but that's just me..If you really want a bigger boat you can sleep on, that'd be one way to do it.

 

[fldiver1]

Re: Can I Afford It?

The way I always figured it is this:

If you have to ask how much it cost or IF you can afford it, YOU CAN"T!

Boats have LOTS of unexpected expenses associated with them. Its not just the cost of the boat and fuel to run it. Storage, safety equip., toys, add-on electronics, repairs. etc.

 

[tommays]

Re: Can I Afford It?

A boat in the water in NY in the winter is about as close to a FROZEN HELL on earth as you can get

While there are places that wet store boats, generally there not setup to shovel the docks and little things like that

If you get one of are two week cold spells even with a bubbler system you get real issues with ice buildup


Just watch those guys on deadliest catch breaking off the ice with a rubber hammer







Tommays