Slips, buy or rent

[Sly dawg]

Long time listener first time caller. I’m hoping to take the plunge this upcoming spring. I’ve only ever power boated with my bayliner and rentals in the islands and coastal kayaking. Can’t get enough of the water. My wife is totally onboard (no pun intended) on buying our first sailboat. Been doing research for the past few months on the in’s and out’s of the cruising lifestyle. We are in northeast Pa but really want to be able to coastal cruise and spend weekends on the boat. Obviously like many others I have way to many questions. I’m pretty much sold on looking at the Catalina 34, possibly a tad smaller. I’ve always worked with my hands doing all my own repairs on anything I’ve ever owned, have done plumbing electrical carpentry and automotive. Also certified mobile electric and 20 years biomedical electronic so hopefully I can take on some minor issues that arise with the boat. On to my big question. Living in Pa I’ve been looking at marinas on the Jersey coast which is between 2-3hr drive. I plan on being there just about every weekend as I don’t have much weekend commitments at home. I’ve seen many marinas with slips for the 30ish foot boats and season fee is around 3-4K. I’ve also seen marinas with 40’ slips for sale in the 15-20K range with annual fees in the 1,200 range including electric, water and amenities. Are there many cons of owning your slip as opposed to renting? I do plan on hauling out come winter but I like the fact that I can stay in the slip after many of the marinas October cutoff or being able to launch sooner come spring. I know it’s not ideal being so far from the boat but also plan on using a remote monitor to keep tabs on bilge and battery as I can leave work basically at a moments notice if needed.

[Lnewman]

I could not own a sailboat if I had to pay a yard to make repairs. I just can't afford that and I really don't trust other's work.
Never considered purchasing a slip in my 35 years of sailing. But not sure anyone in my area actually sells a slip. Wife and I have been in and out of sailing, so buying a slip would never make sense. We have a boat for five or so years, sell it, take up to a year off, then have to have another boat. We're on our fifth sailboat. That number might be low compared to other sailors I talk with. I met someone the other day that had eleven boats over the years. But he was also about fourteen years older than me.

We also have found that looking for the boat is almost as fun as owning one. You get to see all the different boats, how they are built, appointed, etc.

Don't buy the first generation Catalina 34. It could have keel support issues.

As I understand it, lots up North rent a mooring buoy instead of a slip. Cheaper. My most recent boat came from Rhode Island and it spent it's life on a buoy when not on the hard for winters.

Good luck in your sailboat search.

[Cheechako]

I have always had an opposition to buying a "hole in the water". But frankly, I'm wrong! Having observed this from the outside, those "holes in the water" are a good investment. They appreciate like real estate. Big time in some places. I think because there are limited places to moor boats, and it's extremely difficult to create more moorage now days with all the laws and eco stuff going on.. Supply and demand.

[letsgetsailing3]

Originally Posted by Cheechako

I have always had an opposition to buying a "hole in the water". But frankly, I'm wrong! Having observed this from the outside, those "holes in the water" are a good investment. They appreciate like real estate. Big time in some places. I think because there are limited places to moor boats, and it's extremely difficult to create more moorage now days with all the laws and eco stuff going on.. Supply and demand.

This isn't always true. The amenity fees associated with some slips may keep the appreciation at a minimum, so pay close attention to that.

But maybe it's better to start out renting first, and see how that goes. You may decide you want to move the boat, and then you've got the expenses of selling a slip to worry about.

[accomplice]

I'd be reluctant to buy a slip -- at least until I had rented there for a few seasons -- and even then I'd still probably rent.

As others have suggested, consider a mooring both for price and privacy/peace/quiet. Some mooring rentals come with launch service; others generally provide shoreside dinghy storage; some, both.

[Sly dawg]

Thanks for the suggestions on mooring, didn’t really check those sites out, was mainly looking at the marinas. The one I was looking at has 160 slips all 30 and 40 feet. One just sold in April for 12.5K and other slips there are rented at 3-4K season. There are a few at 14K but yet others are asking 30. Seems odd the range of prices when the slips look similar. I’m aware of the fees and they are posted at 360 quarterly and includes utilities and amenities. That’s why I was strongly looking at buying, worst case I can rent the slip if I sold the boat. Just never heard of all slips at a marina privately owned, only rented that why I came to see if anyone here buys slips.

[moctrams]

I bought my 35 foot slip at Flag Harbor Marina in Southern MD. The condo fee is $1500/year and the taxes are around $200/year. The slip rental for a 35 foot slip is $2500. The only problem is the slips are difficult to sell once you own it. Slips in the marina have been sold on Craigslist for as little as $500. Not quite what I imagined when I paid $20,000 for the slip.

[Lnewman]

I am sure price is governed by lots of criteria. Like how far you have to tote your gear down the dock. How easy to get in and out of the slip. Is is a T head? Size boat it accepts. Finger piers. Water depth. Probably come up with more things to cause a slip to cost more or less.
Leasing has always worked for us. Wonder if you own, when the ice lifts the dock, are those repairs yours? Or just general maintenance of the dock and pilings. I have seen pilings snap. Boards come off in a storm, etc. It seems enough time is spent just maintaining my boat. I leave the dock to someone else.

[Captain Bill]

Originally Posted by Cheechako

I have always had an opposition to buying a "hole in the water". But frankly, I'm wrong! Having observed this from the outside, those "holes in the water" are a good investment. They appreciate like real estate. Big time in some places. I think because there are limited places to moor boats, and it's extremely difficult to create more moorage now days with all the laws and eco stuff going on.. Supply and demand.

Maybe they're appreciating where you are, but I've observed this only near major cities. Prices elsewhere seemed to peak in the middle 200xs. in one area that I am most familiar with slips were selling for 65-85 thousand back then and of course crashed during the great recession. Though real estate prices in the area have returned to or exceeded their peak the asking price for the same slips is now in the low teens and even then are not selling. In the meantime the county is still taxing them at their original value and the condo fees for the common elements has gone up.

[Luckyknot]

My father in-law has a 46' sailboat moored at Keyport Yacht Club in NJ. They have ferry service. Not sure about cost. He used to have a smaller 24' sailboat moored in the same field but owned by a boatyard down the street. Cheaper but no ferry service or club house. He's always been happy with his boats in that area.

[Jackz]

but then you'd feel like you always had to stay at or near the slip, and what fun is that? Kind of like joining a country club and having to golf at the same place all the time, rather than seeing the sights

[Jammer]

Many reasons you may end up wanting to move


- You get a bigger boat
- You get a catamaran that is too beamy
- You decide to move to a different part of the country or different part of the world
- You get out of boating, perhaps because of reasons outside your control
- You get a boat that won't work with the draft or bridge clearance of the slip you bought


Finally the waters may change. We've had waterfront and deeded access on local lakes (White Bear Lake) become unusable due to changing water levels. We've had river properties become useless for boating due to locks closing to navigation.


Where I am the best and most sought after slips are available on a purchase/ownership basis only and can't be rented. On the upside the slip owners have much greater latitude to customize their landing, adding dock boxes, picnic tables, etc.

[Jahsail]

Buying a slip is much like owning a condo. If you've owned a condo you know you'll be subject to special assessments, hoa fees that could increase based on rising costs (like marina insurance) or decrease. See who is on the condo board, how often they meet, and get copies of the minutes of the meetings. Does your sales contract include a 'first right of refusal' when you try to sell? Like anything else you buy as a long term investment, you need to see if it makes sense financially and provides for your needs.

[MJH]

Originally Posted by Sly dawg

Long time listener first time caller. I’m hoping to take the plunge this upcoming spring. I’ve only ever power boated with my bayliner and rentals in the islands and coastal kayaking. Can’t get enough of the water. My wife is totally onboard (no pun intended) on buying our first sailboat. Been doing research for the past few months on the in’s and out’s of the cruising lifestyle. We are in northeast Pa but really want to be able to coastal cruise and spend weekends on the boat. Obviously like many others I have way to many questions. I’m pretty much sold on looking at the Catalina 34, possibly a tad smaller. I’ve always worked with my hands doing all my own repairs on anything I’ve ever owned, have done plumbing electrical carpentry and automotive. Also certified mobile electric and 20 years biomedical electronic so hopefully I can take on some minor issues that arise with the boat. On to my big question. Living in Pa I’ve been looking at marinas on the Jersey coast which is between 2-3hr drive. I plan on being there just about every weekend as I don’t have much weekend commitments at home. I’ve seen many marinas with slips for the 30ish foot boats and season fee is around 3-4K. I’ve also seen marinas with 40’ slips for sale in the 15-20K range with annual fees in the 1,200 range including electric, water and amenities. Are there many cons of owning your slip as opposed to renting? I do plan on hauling out come winter but I like the fact that I can stay in the slip after many of the marinas October cutoff or being able to launch sooner come spring. I know it’s not ideal being so far from the boat but also plan on using a remote monitor to keep tabs on bilge and battery as I can leave work basically at a moments notice if needed.

If I had to keep my 42' boat at a marina I wouldn't be able to afford it, that would be about $4800 a year. If you are going to spend that kind of money it would be smarter to buy a waterfront lot/home and put that money toward the mortgage. However, many waterfront lots are not suitable for yearly boat moorage do to the elements; usually winter wind, tides, storms, and freezing temperatures.

I have moored my boats here in Washington to a buoy 24/7/365 since 1995. I designed a three legged system using off-the-shelf parts and deployed solo from my boat. It does cost some money initially to deploy it and then maintain it every three years but the cost is very low when looking at it long term, 24 years so far for me. By the way, I don't own the waterfront lot but am a member of the Homeowners Association (HOA) and access my boat from the HOA beach. Aside from the cost saving I get to look at my boat every day from my dining room. The downside is that I choose to time my access to the tidal changes rather than drag my dinghy across the beach, a frustration to be sure but it allows me to keep my boat at a very low expense.

~ ~ _/) ~ ~ MJH

[Sly dawg]

Here is a pic of the marina, the red markers are slips for sale, blue are ones for rent. I guess my best option is to take a few trips down and see if I can chat with some of the owners. There a restaurant and bar on site so I’m hoping some hang out there and can get some feedback from owners that have been there a while. As you can see I don’t understand how slips range from 14k-40k when all slips are evenly spaced and relatively close to each other. I appreciate all the feedback and suggestions.