Does anyone feel that skyrocketing inflation has, or will, change their sailing lifestyle? I’ve thought abought looking into a sailboat partnership. Does anyone have experience or advice about that?
Gas prices, inflation concerns
- Thread starter yappasailing
- Start date
This is an interesting question and I look forward to hearing your views, however, please be careful to avoid statements about politics or government. Thank you.
NO! now back to the jellybean hunt. happy easter!
For the better I think! I drive over 100 miles from home to boat. I'm going to make longer stays on the boat and drive fewer miles back and forth. I'm going to cut down on my work commute miles as well since I'll spend more time at the boat! Also, I'm hearing from the Tices Shoal Captains group on facebook all the doom and gloom from the multitudes of power boat owners who will seem to reduce their power boat usage!
If you were in my area I would point you towards freedom boat club.
Freedom Boat Club
The boats are owned and maintained by a third party. Owning anything with somebody else is just odd to me. Like in a divorce, who gets the kids for thanksgiving and who gets christmas. In the case it would be who gets the boat, memorial day, forth of july and labor day.
Freedom Boat Club
The boats are owned and maintained by a third party. Owning anything with somebody else is just odd to me. Like in a divorce, who gets the kids for thanksgiving and who gets christmas. In the case it would be who gets the boat, memorial day, forth of july and labor day.
It won’t really change a lot for us.
1. The boat itself doesn’t use enough fuel to make that much of a difference. In fact last summer due to circumstances we didn’t use enough so this summer I’m on a two season tank and need to burn through it so I can get a fresh tank.
2. The cost of the gas for the car to get to the boat is more significant but since I retired and we don’t have to drive back and forth for weekends to go to work that’s not really an issue.
3. Transient fees for marinas may be more but come into play only if we take a trip away from our home port. We try to build that into our vacation budget for the year. Frankly at this stage the kids are going inherit whatever money is left and they’ve told us emphatically that they want to see us enjoying our money in retirement and not leaving it to them. Life passes by so fast anyway and there will probably come a day and age when sailing will be too much for us and we will have to give it up. So enjoying it now while we are able.
On the subject of partnerships I did think about it briefly but decided that I’m way too fussy about my boat to share it and that if I can’t afford it alone, I can’t afford it. That said we do know people who have successful partnerships. What they’ve told me is: Key is to have clear written agreements about everything so there are no misunderstanding and minimal conflicts.
The successful partnerships I know of had written protocols for deciding who gets to use the boat when. Even a formula for dividing up premium weather and holiday days. The friends told us they had clear rules on how the boat was to be left after their use time. All personal stuff was to be removed and only shared items remained on board to avoid problems like ”you used and broke my personal item”. They had an annual meeting to plan repairs / upgrades and all partners had to agree on that. Nothing was to be added to the boat unless all agreed and paid for it. Then they budgeted accordingly.
They also had in their agreement language that addressed how the partnership would be dissolved should that need to happen. They had planned work days for prepping the boat for the season and also putting it away at the end of the season with a maintenance budget planned.
I am sure there is more that others who have done it can add.
1. The boat itself doesn’t use enough fuel to make that much of a difference. In fact last summer due to circumstances we didn’t use enough so this summer I’m on a two season tank and need to burn through it so I can get a fresh tank.
2. The cost of the gas for the car to get to the boat is more significant but since I retired and we don’t have to drive back and forth for weekends to go to work that’s not really an issue.
3. Transient fees for marinas may be more but come into play only if we take a trip away from our home port. We try to build that into our vacation budget for the year. Frankly at this stage the kids are going inherit whatever money is left and they’ve told us emphatically that they want to see us enjoying our money in retirement and not leaving it to them. Life passes by so fast anyway and there will probably come a day and age when sailing will be too much for us and we will have to give it up. So enjoying it now while we are able.
On the subject of partnerships I did think about it briefly but decided that I’m way too fussy about my boat to share it and that if I can’t afford it alone, I can’t afford it. That said we do know people who have successful partnerships. What they’ve told me is: Key is to have clear written agreements about everything so there are no misunderstanding and minimal conflicts.
The successful partnerships I know of had written protocols for deciding who gets to use the boat when. Even a formula for dividing up premium weather and holiday days. The friends told us they had clear rules on how the boat was to be left after their use time. All personal stuff was to be removed and only shared items remained on board to avoid problems like ”you used and broke my personal item”. They had an annual meeting to plan repairs / upgrades and all partners had to agree on that. Nothing was to be added to the boat unless all agreed and paid for it. Then they budgeted accordingly.
They also had in their agreement language that addressed how the partnership would be dissolved should that need to happen. They had planned work days for prepping the boat for the season and also putting it away at the end of the season with a maintenance budget planned.
I am sure there is more that others who have done it can add.
Is this a question about fuel prices and inflation or sailboat partnership. I don't really see the connection ...
That's the most important aspect of the entire agreement and needs to be addressed first.
Sailtime may be another alternative, albeit, an expensive option
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 23,342
I see the economic issues of fuel cost and inflation may influence some to share a boat that the economy would not permit them to own outright.
I don’t see a change at the present situation. Costs for the marina appear to be rising with no end in sight. This may change the location of my boat.
It will be interesting to see if the economy will cause the marina to change should supply exceed demand.
Interestingly enough, my marina fee did not increase this year. However, it was established last year before inflation really took hold. Our marina used to be filled almost entirely by sailboats in the past. It has been at about 50% capacity or less for many years after Hurricane Sandy in 2012 until they started filling up again last year, but the big increase was from an influx of power boats. One could expect that slip fees will rise with inflation and demand, but I think the gas prices will cripple the power boat users. The marina may be sensitive to that issue, who knows?
I suppose my cruising budget will have to increase somewhat, but not enough to keep me in port. Typically on a cruise I might use 35 gallons or less, which will now cost about $35 more. On Lake Ontario most yacht clubs do not charge reciprocals so dockage won't be an issue.
changes may not be imminent for sailing in particular; however, combined with increased costs for boat insurance, auto insurance, homeowner’ & flood insurance, food, utilities, cars/trucks, gas, & housing, it may push some folks out of boat ownership or discourage others from buying in.
Just like Sailing...
We will weather many storms and, sometimes come out of the Storm with Lessons learned.
Jim...
We will weather many storms and, sometimes come out of the Storm with Lessons learned.
Jim...
For me, sailing offers a pretty low-cost recreational activity. I probably burn about 20 gallons of fuel in a season. Getting to the marina will cost more…at $4.00 gas. But I am driving 115 miles a day for my daily work commute, so the 25 miles to the marina doesn’t seem too bad.
I had a partner on a boat back when my kids were in college. He was a friend of mine, who actually introduced me to sailing (my wife still hasn’t forgiven him
).
We made an agreement that if either partner wanted out, the remaining partner could either buy out the others half, or the boat would be sold and the proceeds split.
After a few years, my friend (who is a bit older than me and not a confident sailer) wanted out of the boat. I spent a week checking the market, didn’t see anything I liked better, and bought out his share. It all worked out beautifully.
During our partnership, we split all cost 50/50. We discussed any purchases in advance (like to buy New VHF radio). I did most of the maintenance on the boat, but my friend helped on things like bottom paint, adding a Mack Pack, etc.
We agreed that the “buyout“ was the purchase price of the boat, and excluded all of the upgrades and maintenance costs.
We wrote most of this down in an agreement, just to make sure we thought through the issues, not really for legal reasons.
But I wouldn't do that with a stranger. Oddly, our kids were dating (I assumed my friend and I would be in-laws at some point), and we contemplated what would happen if the kids split up…but we decided we were good enough friends to weather the storm if that happened. The kids did split up, and our boat relationship survived. We are still good friends even though we don’t own the boat together anymore.
Greg
I had a partner on a boat back when my kids were in college. He was a friend of mine, who actually introduced me to sailing (my wife still hasn’t forgiven him
).We made an agreement that if either partner wanted out, the remaining partner could either buy out the others half, or the boat would be sold and the proceeds split.
After a few years, my friend (who is a bit older than me and not a confident sailer) wanted out of the boat. I spent a week checking the market, didn’t see anything I liked better, and bought out his share. It all worked out beautifully.
During our partnership, we split all cost 50/50. We discussed any purchases in advance (like to buy New VHF radio). I did most of the maintenance on the boat, but my friend helped on things like bottom paint, adding a Mack Pack, etc.
We agreed that the “buyout“ was the purchase price of the boat, and excluded all of the upgrades and maintenance costs.
We wrote most of this down in an agreement, just to make sure we thought through the issues, not really for legal reasons.
But I wouldn't do that with a stranger. Oddly, our kids were dating (I assumed my friend and I would be in-laws at some point), and we contemplated what would happen if the kids split up…but we decided we were good enough friends to weather the storm if that happened. The kids did split up, and our boat relationship survived. We are still good friends even though we don’t own the boat together anymore.
Greg
The only difference for me this year might be fewer power boats out on the lake, which would be an improvement.
My boat only uses 10 to 12 gallons of diesel per season. I live 6 1/2 miles from the boat in a good city neighborhood with my work studio and everything I need on a daily basis within a 5 to 15 minute walk, plus I tend to stay over the weekends on the boat, so I’m honestly not very price sensitive about either diesel or gas.
As for timeshares, or boat partners, I have no personal experience with them, but they are no doubt a good option for many people. It seems to me that for a partnership to work, everyone has to feel that all are contributing in a way that’s fair and equitable. I’m so fussy about my boat that I might be a real PITA as a boat partner and could easily end up feeling that I was doing more of the work or footing more of the bill. Choose your boat partners carefully.
My boat only uses 10 to 12 gallons of diesel per season. I live 6 1/2 miles from the boat in a good city neighborhood with my work studio and everything I need on a daily basis within a 5 to 15 minute walk, plus I tend to stay over the weekends on the boat, so I’m honestly not very price sensitive about either diesel or gas.
As for timeshares, or boat partners, I have no personal experience with them, but they are no doubt a good option for many people. It seems to me that for a partnership to work, everyone has to feel that all are contributing in a way that’s fair and equitable. I’m so fussy about my boat that I might be a real PITA as a boat partner and could easily end up feeling that I was doing more of the work or footing more of the bill. Choose your boat partners carefully.
Sounds like a wisely handled partnership. Good point about having an exit agreement.For me, sailing offers a pretty low-cost recreational activity. I probably burn about 20 gallons of fuel in a season. Getting to the marina will cost more…at $4.00 gas. But I am driving 115 miles a day for my daily work commute, so the 25 miles to the marina doesn’t seem too bad.
I had a partner on a boat back when my kids were in college. He was a friend of mine, who actually introduced me to sailing (my wife still hasn’t forgiven him
We made an agreement that if either partner wanted out, the remaining partner could either buy out the others half, or the boat would be sold and the proceeds split.
After a few years, my friend (who is a bit older than me and not a confident sailer) wanted out of the boat. I spent a week checking the market, didn’t see anything I liked better, and bought out his share. It all worked out beautifully.
During our partnership, we split all cost 50/50. We discussed any purchases in advance (like to buy New VHF radio). I did most of the maintenance on the boat, but my friend helped on things like bottom paint, adding a Mack Pack, etc.
We agreed that the “buyout“ was the purchase price of the boat, and excluded all of the upgrades and maintenance costs.
We wrote most of this down in an agreement, just to make sure we thought through the issues, not really for legal reasons.
But I wouldn't do that with a stranger. Oddly, our kids were dating (I assumed my friend and I would be in-laws at some point), and we contemplated what would happen if the kids split up…but we decided we were good enough friends to weather the storm if that happened. The kids did split up, and our boat relationship survived. We are still good friends even though we don’t own the boat together anymore.
Greg
Thanks for taking the time to share some insight on partnerships. I’ve read too that a written agreement, and leaving the boat in shipshape after use, are two essential components.
I've read that friends going into a boating partnership have a higher success rate.For me, sailing offers a pretty low-cost recreational activity. I probably burn about 20 gallons of fuel in a season. Getting to the marina will cost more…at $4.00 gas. But I am driving 115 miles a day for my daily work commute, so the 25 miles to the marina doesn’t seem too bad.
I had a partner on a boat back when my kids were in college. He was a friend of mine, who actually introduced me to sailing (my wife still hasn’t forgiven him
We made an agreement that if either partner wanted out, the remaining partner could either buy out the others half, or the boat would be sold and the proceeds split.
After a few years, my friend (who is a bit older than me and not a confident sailer) wanted out of the boat. I spent a week checking the market, didn’t see anything I liked better, and bought out his share. It all worked out beautifully.
During our partnership, we split all cost 50/50. We discussed any purchases in advance (like to buy New VHF radio). I did most of the maintenance on the boat, but my friend helped on things like bottom paint, adding a Mack Pack, etc.
We agreed that the “buyout“ was the purchase price of the boat, and excluded all of the upgrades and maintenance costs.
We wrote most of this down in an agreement, just to make sure we thought through the issues, not really for legal reasons.
But I wouldn't do that with a stranger. Oddly, our kids were dating (I assumed my friend and I would be in-laws at some point), and we contemplated what would happen if the kids split up…but we decided we were good enough friends to weather the storm if that happened. The kids did split up, and our boat relationship survived. We are still good friends even though we don’t own the boat together anymore.
Greg
Sounds like a great partnership! If you have a friend who you can trust to abide to the agreement, a boat partnership could be a good thing, not only from a financial aspect but also to share ongoing maintenance and general upkeep.
It probably worked better for me than my friend, in all honesty. He paid for half of everything, but seldom took the boat out. He was sort of a silent partner.…dang, I miss that.
I like tinkering around on the boat and doing maintenance…my friend, not so much. But I didnt mind.
The best part of the story is that we were partners on my Hunter 280, when the owner of my current O’Day 322 emailed to say he was selling her. I had seem the boat before I bought the Hunter, but it sold before I made an offer. When the current owner emailEd, my friend and I went to loom at her…and agreed we should make an offer. We would sell the Hunter as soon as practical once we bought the O’Day 322.
We took the wives out for a nice dinner, plied them with vino and broke the news that we wanted to buy another boat….Friends wife said “go for it”. My wife said “not so fast…you already own a boat. Sell it first”.
I looked around the table, said “honey, you are out-voted 3 to 1”. Wait…now I know why she hasn’t forgiven my friend ;-)
Anyway, if I wasnt in that partnership, I might never have purchased Tally Ho! I owe my friend a lot!
Cheers,
Greg