SkiPharmer
Active Member
- Jul 27, 2014
- 282
- Boat Info
- 2001 Formula 41 Performance Cruiser
- Engines
- Twin 8.2. Liter Mercruisers Direct Drives
So i know there have been a few threads on this. They all seem to be a bit different than my situation. Our marina is in Afton, MN (Windmill Marina). We love the marina, have been there for 4 years and don't ever want to leave. We are currently renting a 36 foot slip for $5200/year (slip, water, electric and winter storage included). We eventually want to upgrade to a 40-44 Sundancer in the next 5-8 years. There is a slip for sale that is 15x44ft for $80,000. HOA or "common fees" are roughly $2,400 a year if we buy the slip. I would need to finance it, the terms are 4.5% and after 5 years it goes to a balloon. We would put $16,000 down and finance the rest. Giving us a payment of $405/month. The slip rents for $7200/year. We don't plan on leaving this marina and plan to boat our whole lives. We are fairly young (37 and 34) with two small kids 4.5 and 20 months. Lets hear your advice!
Thanks!
Thanks!