- Aug 25, 2008
- 1,819
- Boat Info
- 2006 320 V-Drives 6.2s, Bow Thruster, Generator, Raymarine C80, Radar, Fish Finder
- Engines
- 6.2 Horizons 320HP
Ugghhh, it needs a complete remodel inside, new Windows, air conditioning, new back yard, add to dock to fit boat, etc. getting to old for this stuff!
I faced a similar issue a few years ago. Buy a bigger boat or buy a house on the water with a dock. I decided the house was a smarter choice. My logic was that I could pay the real estate taxes instead of the marina fees and get a tax right off and I had expected the house to appreciate. Well things didn't work out exactly as planned. I bought the house and started repairs/remodeling. New kitchen/hardwood floors/new deck not to mention the need to buy furniture/beds/TVs duplicate tools etc. I nick named the house my labor camp. After about 2 years I thought I was finished but then super storm sandy rolled in and caused $50k in damages with only about $12K covered by flood insurance (pool/deck/landscaping/tools in garage not covered) and I had to start over again. In addition new flood regulations require most houses to be raised and since it is a 2nd home for me I do not qualify for any federal assistance and the house value has dropped 25%! So much for making the smart choice! There are some benefits to having the house, but life would have been simpler and more flexible without having a 2nd house to maintain. (If I am not happy at a Marina I can move, I can't move the house). In my opinion go for the bigger boat and avoid a 2nd house.