Yes, I've been doing subsequent research and realize the fuel burn rate is something I really need to think about, given that I think the prices will surely rise.
Here are some more questions with the backstory:
1. If you were to theoretically keep a live aboard for the next 30 years and wouldn’t care about selling it for a profit in the future, should you save the headaches of a used boat and get one that is almost new but depreciated? Would you be able to get a lot more boat for like $400k plus retrofits?
Complicated question. First, newer boats aren't necessarily problem-free. Second, prices vary by year, model, size, shape, etc... but also by condition... so a used but well-maintained boat at appropriate price could well be less expensive (better value) in the long run than to a newer boat that turns out to have some issues needing correction. Almost need specific boats for specific comparison...
2. You would think you could low ball all these boats, you see them sitting for years. I get negative feedback on that, but the ones sitting for years are sometimes completely retrofitted and beautiful ready to go. How much do you think you could argue on the purchase price of a used or new boat?
Another "it depends." Sales of comps can be useful info... when you can find it. "Sitting for years" and "completely retrofitted and beautiful ready to go" might exist somewhere... Heaven, probably, if you subscribe to that.
4. Besides Freedom Boating Club, Boaters University, American Sailing for weather routing. Would you suggest any other resources to learn?
Local yacht club, USCG Auxiliary, America's Boating Club (nee US Power Squadron) - if they have all those there -- general books like Chapman's, more fix-it books like Nigel Calders....
I figured, why don’t we just move down to the marina, which is less than a ten minute drive and do a live aboard situation. Enjoy local cruising and work our way up to cruising in the Caribbean. The timeline to do this is hopefully, step onto an owned boat by the end of 5 -7 years.
For liveaboards, I have two options. Somehow finance a bluewater worthy trawler or retrofit and redo an old trawler. However, I would need to hire skilled labor to restore a boat, at least there is a full functioning dockyard with those services here. It looks like the option going the new route would either be a Selene 49 or the North Pacific 59. If I go the retrofitting a used trawler, it would probably be a 52 Jefferson Marquessa, 1999 Navigator 5300. Lastly, I could just look for a used Selene or Marlow 48E, but that is still nearly $1 - $1.5M.
Depends on your outlook about money management, but there is such a thing as boat loans. That is NOT/NOT a recommendation, and for many, a boat loan is completely backwards... aka dumb... given boats depreciate, unlike houses which can (usually) appreciate. OTOH, that could conceivably accelerate your timetable if you haven't already taken that into account. (NEW would be way outa my league...)
Not sure, but sounds like you're thinking all used boats need restoration? Not. Can be lots of maintenance (repair/replace), routine service, etc.... but a 1999 Navigator (for example) that surveys well could easily be in usable shape as is. Maybe only another $100K to get it suitable.
Labor costs where you are might be lower than here. Ours generally run in the neighborhood of $65-85/hour for yard muscle, $90-135/hour for hands-on systems experience, more like $150/hour for specialized stuff (like specific engines). Plus travel time. Full job means plus parts, of course. And taxes and environmental fees. Argues for building your own skills... at least gradually, as you can. It'd cut into your day job time... or make your days longer... or both... but doing your own labor can be almost like paying yourself... sorta...
-Chris