Set Your Expectations

Let’s switch back over to one of my favorite topics-older boats. Not the first time I have discussed the great opportunities that you can find here, however, you do need to set your expectations correctly. One of the main attractions of an older boat is price-they have depreciated and will cost less to purchase. But while they were depreciating, well, they got older. Sometimes they are a lot older, and you must set your expectations as to what that means. It means that at the end of your survey you are going to have a list of things that will need to be resolved. Systems and components will be nearing end-of-life. And any older boat will have some of the cosmetic issues that come with use and time. Buyers are usually pretty good about doing their research. They will create lists of features and write down pros and cons of various hull types or designs, but they struggle to grasp the impact time has on a vessel. Time sitting in the weather, time on the systems, time on the finishes, time slamming through the water- it all takes a toll. Once buyers are actively shopping they are shocked when boats do not look new. Or worse yet, they are standing there with their surveyor with a list of items that need to be dealt with and they are surprised that there even is a list. When you are shopping in this portion of the market you need to be prepared for the impacts of time and age. And don’t expect the first boat you look at will be the one. It can happen, but it is likely you will have to sort through several to find the right wear/tear/repair combination for you. But with proper expectations and patience, you will find your new vessel and soon be on the water.