May 18/08 – A boat or a Ferrari? I know that both are depreciating assets but the question is which depreciates faster?
I was inspired to consider buying a boat during dinner at Cadero last night. Kel suggested that we buy the boat that we saw was for sale. I do agree that a Ferrari will be too “high profile” so if I am “only confident” in making CMC pay for either a boat or a Ferrari, then perhaps a boat will be a better choice since many friends and family will get to benefit from it. Whereas, only one person will enjoy riding the Ferrari :))
May 23/08 – FOUND A PERFECT SLIP
I finally decided to buy that boat. The great thing is that there is a perfect 44′ slip under Cadero Restaurant in Coal Harbour. Everyone knows Moorage is very hard to find. But the catch is I have to buy the used 30′ (150K) boat to go with it. I figured that it’s alright as a starter but alternately I want a 40′ (400K) boat down the road.
So glad I came out today. Learnt so much about “boats.” Now, I will write an offer for it. So happy to have found the perfect slip!!!
I found out that the total annual expense after owning a boat is 12-15K (insurance, moorage and maintenance). Plus gas is $100 bucks per hour.