Least expensive lakefront property

PROPELLER · 09-15-2005, 02:34 PM

Woodsy, Just a few things I wanted to point out & keep in mind I purchased my slip a few years ago before they went crazy with all the other real estate. It was a great investment as it turns out & if I had the money & foresight would have purchased several more but that was not my intent. Also, no one is going to argue that real estate is not a better investment than a boat, of course it is but you don't buy a boat as an investment in the first place. You buy it to have fun. And buying a cruiser to live on & renting/owning a slip is great fun, its a chosen lifestyle for fun. Its not meant to be an investment. Not to mention that you do not have to do any maintenance on a slip & only maintenance during the season on a boat is waxing. Marina living is very easy. If you own a house (not a condo) you may have to mow the grass, paint the house, plant flowers, maintain plumbing/heating, pay utilities etc, etc (need I go on) I have none of that at the marina. People forget all the other expenses that go with home ownership like utilities & the expenses you do have owning a boat at a marina are generally less. Sorry, I got off on a tangent while typing this. So here are the original points I wanted to make.

First, I have an interest rate on my boat that is comparable to interest rates on real estate. Second, taxes on an owned slip will go up but so will taxes on the condo & slip taxes are alot less than what they would be on a condo. Third, user fees on an owned slip can go up but mine has not gone up in 4 years & they can & will go up on the condo also & user fees at a marina are probably less than many condo's.

09-15-2005, 02:34 PM	#14
PROPELLER Senior Member Join Date: Jul 2004 Posts: 340 Thanks: 0 Thanked 0 Times in 0 Posts	Woodsy, Just a few things I wanted to point out & keep in mind I purchased my slip a few years ago before they went crazy with all the other real estate. It was a great investment as it turns out & if I had the money & foresight would have purchased several more but that was not my intent. Also, no one is going to argue that real estate is not a better investment than a boat, of course it is but you don't buy a boat as an investment in the first place. You buy it to have fun. And buying a cruiser to live on & renting/owning a slip is great fun, its a chosen lifestyle for fun. Its not meant to be an investment. Not to mention that you do not have to do any maintenance on a slip & only maintenance during the season on a boat is waxing. Marina living is very easy. If you own a house (not a condo) you may have to mow the grass, paint the house, plant flowers, maintain plumbing/heating, pay utilities etc, etc (need I go on) I have none of that at the marina. People forget all the other expenses that go with home ownership like utilities & the expenses you do have owning a boat at a marina are generally less. Sorry, I got off on a tangent while typing this. So here are the original points I wanted to make. First, I have an interest rate on my boat that is comparable to interest rates on real estate. Second, taxes on an owned slip will go up but so will taxes on the condo & slip taxes are alot less than what they would be on a condo. Third, user fees on an owned slip can go up but mine has not gone up in 4 years & they can & will go up on the condo also & user fees at a marina are probably less than many condo's. Last edited by PROPELLER; 09-15-2005 at 02:46 PM.