Quote:
Originally Posted by noreast
All good advise, I don't mean this as a criticism, but I would really work on the whole plan before buying the boat. You don't want to have to buy twice. You could loose a ton of money. Like others said the only reason for the Cabin cruiser would be to live at your slip, I would think you'd sell it when you buy the property, Unless it's an enclosed helm, all weather work horse.
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We have always had a cabin cruiser, or at least something with a large cuddy. and a head. Great for all-weather and keeping personal item locked and or out of sight at public docks. We lived on the boat while we were building instead of a tent which many others did. The cabin cruiser serves as a guest house far cheaper on taxes than building bigger or additional structure. Guests love the "adventure" of sleeping on the boat. Sometimes, it's nice to visit friends overnight and saty over without intruding on their home. If you borrow money to buy a boat, sleeping accommodations and a head qualify as a "residence/second home" so the interest on the loan is tax deductible. I could go on... Or, I could tell you why I don't like... whatever. It's a personal choice, based on personal experience, hence my earlier recommendation about looking into a boat club for a broad range of experience.
I have no problem buying (or a club) boat first. If you and family don't love boating, the likelihood of loving an island is slim.