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Join a Yacht Club-- Yes? No?

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TakeFive
Master Marine Consultant

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2272 Posts

Response Posted - 11/07/2012 : 10:46:12

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by GaryB
 I guess you could rationalize the loss of annual investment appreciation by looking at what you gain from the facilities and being a member of the club.
<hr height="1" noshade id="quote"></blockquote id="quote">
Yes, that $15k "investment" can be thought of as paying $1000/year in savings vs. the other options. That's 6.7% fixed rate, which is not too shabby vs. other fixed interest investments. All that assumes that the return of $15k is guaranteed upon leaving the club, and that there are not significant additional "assessments".

Edited by - on

Prospector
Master Marine Consultant

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Canada
3159 Posts

Response Posted - 11/07/2012 : 12:45:59

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by GaryB
 <blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by TakeFive
 <blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by GaryB
 I guess I just don't get it. I can't see spending $15k to save $83.33/month in mooring/storage fees. I understand being close to home and the social aspects but to me that is a very steep price to pay...<hr height="1" noshade id="quote"></blockquote id="quote">
OP would not be "spending" $15k, but merely tying it up in a non-interest-bearing equity. Upon leaving the club, the $15k appears to be fully refunded by the club. So if this scenario is accurate, the only cost is the loss of annual investment appreciation. But the benefit is $1000/year lower mooring/storage and the social benefits.

As I said before, sounds like an easy decision if OP can afford to tie up $15k while a member of this club.
<hr height="1" noshade id="quote"></blockquote id="quote">

That makes sense.

I guess you could rationalize the loss of annual investment appreciation by looking at what you gain from the facilities and being a member of the club.
<hr height="1" noshade id="quote"></blockquote id="quote">

In my club, your equity buy-in is held by the club until a new member takes your place. This means that when there is a waitlist, folks get their equity back as soon as they quit. But in times like these when the club has a dozen or so empty slips, you could be waiting for your equity to come back at a time when its needed most.

It also opens up the vagaries of the waitlist. For instance, if I quit teh club, but recruit someone to take my place, does that new member mean I get my equity back, or that the next person on the list gets their cash back? If I sell my boat and teh buyer takes it with teh club membership, can I pass my membership to the new owner and collect the equity from them? Check the club bylaws for these sorts of scenarios.

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GaryB
Master Marine Consultant

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USA
4306 Posts

Response Posted - 11/07/2012 : 13:02:36

This keeps getting more interesting as more information surfaces.

As I said earlier. For me, I'd rather sail than worry about all this other stuff. Based on everything that's been brought up and knowing my paranoid ways, I'd always be worrying if I was going to get my money back and/or when. For me, that would all take away from my total sailing "experience". I'd rather pay $83.33/month more in slip fees and go sailing. Then when I'm done sailing, I'm done when the boat sells.

As I also said, this decision can only be made by the person involved. Everyone will have different things that factor into the equation that will ultimately make it a go or no go decision.

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Joe Diver
Master Marine Consultant

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USA
1218 Posts

Response Posted - 11/08/2012 : 09:47:07

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by GaryB
 As I said earlier. For me, I'd rather sail than worry about all this other stuff.
<hr height="1" noshade id="quote"></blockquote id="quote">

I guess it boils down to what you expect and desire with your sailing experience.

Some are happy with a marina slip....pop in/out and go home.

While others are interested in more....a fractional ownership/membership in the marina, which is a country club on the shore. Arrive to a pretty compound, meet friends at the clubhouse, go out for a sail.....come back for dinner/drinks at the clubhouse bar or restaurant....maybe there's an evening dinner party or luau....swim in the pool.....

In many cases the Yacht Club option is taking the common marina experience and adding many, nicely thought out amenities.....plus a community of like minded folks who want to have a bit more with their sailing experience.

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GaryB
Master Marine Consultant

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USA
4306 Posts

Response Posted - 11/08/2012 : 15:03:39

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Joe Diver
 <blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by GaryB
 As I said earlier. For me, I'd rather sail than worry about all this other stuff.
<hr height="1" noshade id="quote"></blockquote id="quote">

I guess it boils down to what you expect and desire with your sailing experience.

Some are happy with a marina slip....pop in/out and go home.

While others are interested in more....a fractional ownership/membership in the marina, which is a country club on the shore. Arrive to a pretty compound, meet friends at the clubhouse, go out for a sail.....come back for dinner/drinks at the clubhouse bar or restaurant....maybe there's an evening dinner party or luau....swim in the pool.....

In many cases the Yacht Club option is taking the common marina experience and adding many, nicely thought out amenities.....plus a community of like minded folks who want to have a bit more with their sailing experience.
<hr height="1" noshade id="quote"></blockquote id="quote">
Very well said! That was one of the points I was trying to get across. You just said it much more eloquently.

Edited by - GaryB on 11/08/2012 15:03:57

Voyager
Master Marine Consultant

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USA
5397 Posts

Response Posted - 11/21/2012 : 18:33:43

So Cate. Whatever did you decide? There are lots of commercial marinas nearby - Roberts Cove and Goodhue and Hawkins Navy Yards. Maybe the Corinthian is a stretch.
According to my Alton Bay inlaws, weather has been mild so far this fall…

Edited by - Voyager on 11/21/2012 18:37:27

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