Quote:
Originally Posted by Bear Islander
OK Woodsy
I will accept your figures. But you need to add maintainace costs and winter storage.
The big difference is that after 10 or 20 years the island home will be worth a lot more and the boat will be worth very little.
I do think they are in the same ballpark.
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How do you know that the lot or house will be worth more in 10 or 20 years. Look at the last 5 years and see where we are going.
You can buy used cabin cruisers in the 35 foot range for under $100,000. If you own a slip in a marina your annual costs (fees and taxes) will be about $2,500. Great deal for those that can't afford a waterfront home.
As for your contention that a vessel would be worth substantially less in a few years: I owned a 35 foot cabin cruser on this lake that I purchased in 1996. I sold it in 2003 for more than I paid for it. Don't be so sure of yourself!
I know one couple that owns a 38 foot boat and live aboard it for the summer. In the winter they rent a condo in the area for $500 per month. Cheap living and they are right on the lake. Would you deprive them of this opportunity, or just tell them that they can't ever get a new boat and if they decide to sell their slip it will be worth 1/4 of what they paid because of a horsepower regulation?
In reference to your previous posts: The marinas will have to make adjustments? MVYC has 284 slips with individual owners. What adjustments do you make to a 44 foot slip?
You obviously have many uninformed opinions that scare people. Uninformed people get to vote. That is scary!
I will take a step on the wild side and assume that your Winnipesaukee home came about as a result of family money or inheritance. There is no way that someone whose thinking is as disfunctional as yours has been gainfully employed and earned enough money himself to own a second home on Winnipesaukee.