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In need of some experienced opinions...

Discussion in 'General Yachting Discussion' started by Tommytom, Sep 12, 2007.

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  1. Tommytom, Sep 12, 2007
    #1
    Tommytom

    Tommytom New Member

    Joined:
    Sep 12, 2007
    Messages:
    3
    Location:
    Marina Del Rey
    First off- I'm new to "Yachting"- the largest boat I've ever owned and operated is a 18' open bow wakeboard boat, so please excuse my "newbie" questions.

    I'm moving to Los Angeles soon to take a new position with my company. I've been tossing the idea around of buying a small yacht (40 ft) to live on. In comparison to the real estate prices out there- this SEEMS to be a viable option. I've been looking at the Meridian 391, and the 36' Sea Ray Sedan bridge.

    My question is this... New or used? Do I invest 6 figures into something someone else has possibly neglected or do I eat the depreciation of buying a new boat? Also- Do any of you own either of these two models and what can you tell me about them?
  2. mr_sunseeker, Sep 12, 2007
    #2
    mr_sunseeker

    mr_sunseeker New Member

    Joined:
    Jan 17, 2006
    Messages:
    45
    Location:
    UK & Med
    Hi Tom ad welcome to the forum. I think there is no right answer that anyone else can give except you.

    Nevertheless... New, you get the peace of mind of a warranty (check with the supplier how many years).

    Used, near new, you will save money and have some spare to set aside just in case of repairs. Maybe even the balance of the warranty.

    Used beyond the warranty you'll save more money but need to keep some aside too just in case of repairs, which will be more likley required.

    Perhaps a fairly new boat that someone has taken the initial depreciation on and stillhas low hoursand a little warranty left on?

    Best wishes on your move sounds exciting!
  3. goplay, Sep 12, 2007
    #3
    goplay

    goplay Senior Member

    Joined:
    Mar 16, 2006
    Messages:
    169
    Location:
    Sausalito, CA
    Boat slips are difficult to get in Southern California, particularly at that popular size (ie 30-50'). You may end up needing to buy a used boat that has a slip in order to even get one.

    Second, slip prices can be very expensive in Southern Ca. I think 40-50' slips are over $1,000/month, probably more like $1,500-$2,000.

    Third, you need to check if the marina allows "live aboard", since many do not.

    Lastly, you should really try spending lots of time on a 40' before committing to a live aboard. It will feel like permanently camping out since it would not be spacious. Then as you accumulate "stuff" all over the boat, you would be less and less inclined to take the boat out and the downward spiral of boat deterioration begins. The successful live aboards seem to be ex-long distance sailors who have chosen a minimalist lifestyle!
  4. Tommytom, Sep 12, 2007
    #4
    Tommytom

    Tommytom New Member

    Joined:
    Sep 12, 2007
    Messages:
    3
    Location:
    Marina Del Rey
    Mr. Sunseeker, Thank you- I look forward to the move. The thought of living on the water is one that really appeals to me. I have been thinking along the same lines- a newer pre-owned boat with warranty seems to be the best choice for me. Thanks also for the warm welcome.
  5. Tommytom, Sep 12, 2007
    #5
    Tommytom

    Tommytom New Member

    Joined:
    Sep 12, 2007
    Messages:
    3
    Location:
    Marina Del Rey
    Goplay, I have been finding the same thing. Livaboard slips seem to be hard to come by. I have been checking into Marina Del Rey and have been quoted an average of $19.00 per ft./ per month. The boat dealers I've been speaking with say they can guarantee me a livaboard slip. So before I sign on the dotted line I will make sure I have something in writing.

    I see your point about the long term reality of living in a somewhat confined space- and agree with you that most people, that I know, would not be able to deal with it. I am personally okay with it and actually prefer it to some degree. I'm single with no kids and plan on keeping it that way for some time to come- LOL. "Minimalist lifestyle" describes me perfectly- I like being mobile!