Buy now, or buy later?

[Luther]

I think on a financial basis it makes sense to wait but there didn't seem to be any mention of where you would like to live in the next 7 years....I just love living on a boat even if its annual basis in a marina.

[MNGator]

Okay, here is where I stand. I have looked at many of the costs and believe that it will,result in significant savings to live on land until I am much closer. Interest rates on boats are higher than homes, I wouldn't buy a home that costs as much as the boat. Insurance is more on the boat, taxes are less, but I believe boat maintenance would be significantly higher than home maintenance.

So, the plan will now be to buy smaller boat to get some sailing in and charter for a week or two each year to get experience on the bigger boat. I believe, all-in, this will save about $100k, which will be a nice addition to the boat purchase or cruising kitty. Also, factoring in the depreciation on the boat and appreciation on the house (I have always made money on my houses), the financials are even stronger in favor of being land based until closer to departure..

Thanks for all the great responses and advice/caution, it is well taken and imtrul appreciate the feedback.

[jkindredpdx]

My 35' sailboat cost $50k, i put in another $5k in 5 years, slip here costs $300/mo, Power bill is $20/mo, water and garbage free, no property tax, $100 year license. If you'd like I can send the Spreadsheet for the MBA ROI exercise comparing land to 3 different boats and you can fill in your own numbers... of course sounds like you are in a higher tier so maybe the RIO diminishes, but I can't believe it evaporates...