This is a response to a podcast (it’s in the comments of the video.)
I don’t think Adam really knows some of those costs. They may be a wee bit more expensive than he thinks. Why you buy a new boat is you want a specific style and updates that reflect some current capability or design language that is recent. Thinking forward cockpits in a catamaran, deck saloon style windows, or similar.
You buy a used boat because effectively it meets your need and desire. A used boat is a known quantity as you can have it surveyed and inspected. You know what you’re getting because there is likely a web forum or enthusiast group backing it.
Before I get too far. Every new boat I’ve seen delivered has a “tick” list and in some cases it has taken four or five years for all the items to get fixed by the manufacturer. I suggest to all new boat buyers they add a hostile clause to the contract requiring a delivery survey by an independent entity. Though the manufacturers are getting wise to that and refusing. Which should tell you something. .
In my case I bought a sailboat for $239K and have dumped over $330K into the boat. I knew regardless of what boat I purchased I would be using B&G electronics, replacing all the plumbing, updating all the wiring, replacing all the fixtures, updating the standing rigging, updating the furling equipment, and increasing the resiliency of every system. For every pump I bought to refit I bought one or two spares. I planned on replacing the fridge, freezer, and air-conditioning. Some of the items I figured out fast were not up to the task and I did them again. I can tell you a lot about manufacturers who you don’t want.
I bought a lot of the stuff in bulk. I just bought it all and had it sitting on the boat waiting. The reason I’ll touch on in a second. It did save me money and time with vendors and craftsman.
Basically, if you touch it, it moves, beeps, rotates, flaps, rolls, or pumps I replaced it.
Now I have a boat that is classic in looks but has systems that surpass any new boat. It is easier to sail than any new boat. The systems in general have a warranty by a manufacturer. I know where everything is on the boat. Ownership over the last almost five years has allowed one long test sail as I did about a third of the refit every year. The last few things we’re doing are beauty project like putting an all-new hard wood (no laminate) saloon floor in the boat.
A boat like EOTI brand new would be $900K and I’d likely have to do many of the modifications like solar, power generation, and specialized electronics. We started out following the advice of do a little each month We planned on a few things one year and then do things over time as we traveled. I had an actual calendar of items to do over time. My wife got cancer and spent a week every month in the hospital. Not knowing if she would live through it or how long we had I said, “Flying the center finger of F-land let’s do it.” I had vendors descend on the boat and do refit while she was in the hospital. When she came home coming off the chemo or radiation treatments there was some cool thing done on the boat.
I don’t like people telling me how to spend my money and I won’t tell other people how to spend their money. I’m just suggesting how I spent my money.