Improving resale value

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Art Childs

Try this on for size...

Wow, where do I begin? We bought Aloha 1 last July, (2002). Since then we've added or replaced everything, or so it seems. Here's the list that I can recall off the top of my head: All cushions. 6" foam, red upholstery and Tommy Hilfiger small cushions for accent. Chartplotter, DSC-VHF, Depth sounder- All Standard Horizon, all interfacing. Raymarine Autohelm ST4000+ MkII, interfaced with chartplotter. Force 10 cabin heat, stove, barbecue. Paloma demand hot water-propane fired. Sony/Alpine 200watt stereo/cd. West Marine/Zodiac inflatable and Nissan 2.5 o/b.Replaced old diesel tank after removal of original hot water heater (110v) with 25gal (Imp) diesel tank. Motoring range now approx. 250 miles. 300' 3/4" double braid nylon attached to 80' of 5/16" chain on a 35lb danforth, backed up by 40' chain, 200' 5/8" double braid on a 25 lb danforth. All interior 110v plugs now GFI receptacles. All interior 12v lighting with xenon fixtures.Smartcharger and 2 new house batteries. All new dodger and exterior canvas, stainless steel frames. New 40psi fresh water system including filters. We were lucky, as the sails still have a couple of years in them, but they are due next year, and the main will have 2, maybe 3 reef points, and full battens. I'm also adding a couple of extra sails for heavy weather, namely a storm trysail, and a hanky jib. We already have a jib and a genoa for the furler, but will replace the jenny at the same time as the main.We replaced ALL running rigging, and added a boom vang, a realistic mainsheet rig, an extra cabin top winch for the mainsheet, and beefed up the traveller. And i'm sure i've overlooked some (many!) items. What's worse is, I'm no where near done!! Next is refrigeration and solar panels, maybe wind generator, (i'm a bit of a power hog!)lazy jacks, and a new head. Is it worth it on a 22 year old 30' that was only ever designed for coastal stuff? Absolutely!! The first mate loves the conveniences, I love the toys, and the improved performance of the boat. And we don't have to go anywhere near a dock, if we don't want to!!
 
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Warren Updike

Nothing new here

Improvements fall into 3 catagories: 1) those that improve value, 2) those that enhance sale-ability, 3) those done for my own enjoyment. Examples: 1)roller furling sails, shore power, newer motor (or overhauled diesel,) autopilot, and stuff like that. Unless the item is of significant value, it will not likely affect the price and will fall to 2 or 3. Look at the variables in the valuation guides. Listed prices seem to be based on built-in type items of high initial cost. All the extras don't seem to add much to the price. After all, how much is a second hand radio or GPS receiver really worth. If it is customary to expect radar or wind/solar power and it is not there the price or saleability is more likely to suffer than add to the price if it is there.
 
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Craig Muma

Probably lowered the value

With little to zero stowage on a Mac 26S I've cut holes in the face of the settees to install drawers, no going back on that one, and a hole in the V berth to drop in an ice chest. I also cut a radical hole in the galley area to drop in a second ice chest more convenient to the cook. These things can never be replaced or erased and may really turn off some potential buyers.....and I really don't care...I did it for us and we love the mods.
 
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Tom Fitzpatrick

Comfort/Convenience = Value

Our approach to adding features to our Hunter 320 has been to improve the comfort and convenience of our sailing. We bought her with In-Mast Furling. We have added Air Conditioning, Refrigeration, Electric head, Stereo, Cockpit Pod, Interior Lighting and Weather station. We are about to add a windlass. These features will also add value, but that is secondary.
 
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Chris

Quick sale

I just sold my Catalina 34. I accepted an offer within 2 weeks of putting it on the market. During the time I owned the boat I took pride in it's appearance, upkeep and kept the gear updated. I upgraded all running rigging, blocks, clutches and brought it all into the cockpit. I kept the teak finish updated and a coat of wax on the gelcoat. I repalace all the exterior canvas. The interior was spottless. I refinished the floor and just kept everything clean. I just purchaced a Catalina 42. What some people call clean is an outrage. We went up and down the CA coast only to find boats claiming to be clean were filthy. My advice prior to selling or even listing, make it clean, especially the interior.
 
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vince

"Murphys Law"

"A boat is a big hole in the water in which you pour money"Make your vessel safe and confortable and take it on the chin!!!!!!!!!
 
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Steve Hunter

Individual Perspectives Differ

I think that it is difficult to say with any degree of certainty what specific improvements add value to any given boat. Each person values what is important to him or her in a boat or particular size boat, conditioned upon where and how they plan to sail it. I think that items such as an electric windlass, heat and/or ac, furling systems, properly sized autopilot, VHF, GPS, radar, dinghies, inverters and generators add value to a boat. A tired or poorly maintained engine is a real turn off. A boat with a good functioning head(s) (meaning separate shower where you don't spray water everywhere including in the cabinet and on the tp), great storage, comfortable seating and functional galley is worth more than all the televisions, cd changers, multi speakers, extra teak appointments and upgraded upholstery in the world. Few care about your name or logo on a spinnaker, they will probably change it anyway. From the boats I have looked at, what hurts the value of a boat most I think is poor maintenance and the look that it has been "sailed hard". When a boat and its systems appear to need a lot of attention or replacement these lovely money pits scare off most potential buyers. The wiring on some boats looks as if it was done by me and that is scarey - at least I wouldn't buy it. I think that it is very important to first buy a boat that is a proven winner. If it sails well is comfortable and reasonably fulfills the expectations of its buyer{s) this is intrinsically a more valuable boat. This is a boat that you can afford to spend some money on. What is its reputation and that of the manufacturer? What do owners of this boat and model say about it? Are they repeat buyers or would they be repeat buyers? If the boat has been in production for a period of years how has it held its value? It is much easier to recoup all or a portion of any investment in any boat I think regardless of the nature of the improvement if the boat itself is fairly well regarded.
 
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ed rowe

TLC

Last spring a friend of mine, and myself, bought a 78'catalina 25. The boat had been sitting for a while, unused. The boat was in good shape and could've been sailed as it was. However, being 30 and having some pride we wanted to spruce it up a bit. we started with a complete cleaning, followed by some noticeable yet not so expensive updating. The first thing we did was to refinish all the interior and exterior wood. then we added a perko battery selector switch, new control panels with led indicators. We could've stop there, but went on to install new carpet (squares) which was easily replacable in the event of a spill. We continued the project by adding floor lighting on the sides of the settees and rewired the entire boat. A really nice added feature was a small piece of wood trim along the floor where it raises up to the under table (it finished the floor wonderfully). We then added a light into the port lazereth so we could see in it better and also eliminate the need for a flashlight if we needed to do any wiring repairs. The final two things were to get the entire boat reupholstered and we also had some curtains made and afixed them on wooden dowels so they could open to eitherside of the window, they looked great. The end result was a 78' boat with 2000 taste that sold in 2 weeks for well above the purchase price. We ahve since gone to a 97 320.
 
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R.W.Landau

Knowing your limits....

There are alot of people here that are very capable of completing good repairs. To those who's skill may lack, don't touch the boat. Have someone skilled and capable do the big jobs. Things like looking at an older boat that has been kept to perfection (Perfect fiberglas, nice sails, perfect interior)with an owner fix like trying to caulk the ports without removing them, can make the maintenance issue questionable. r.w.landau
 
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Jerry

Don't forget the wheels

If resale is the primary goal then don't forget the trailer. Not only the boat reflects pride of ownership. Rust can be fixed. I have a minor dent in a fender that I can straighten. I could probably paint the whole thing with a dozen spray cans of Rustoleum. The wiring works but is loose. It won't take long to put some conduit inside the side channels and make the wiring look top notch. Condition is everything.
 
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Glen Lonsway

Improvements

Varnish the brightwork! Nothing shows pride of ownership like well cared for woodwork.
 
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LInda

Resale Value

Yes, I am very impressed with a clean, neat boat that doesn't have make-do fixtures on it. All things are in place and labeled. Records on any and all repairs a huge plus. My boat is more organized and clean than my house, but the wiring needs to look less like spaghetti dinner. That will be next. Previous owner just sailed the living daylights out of this boat, sure he enjoyed it to the max, but a lot of home made, and not really neat 'improvements'.
 
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Sid R Ballantyne

Hook em first

I think that given my experience with purchasing a boat that the looks of the boat are the first most important thing. What does the buyer see standing at the dock? Good Paint/gelcoat no bad scratches no obvious neglect will draw the buyer in for a closer look. I don't plan on selling anytime soon but I am painting my hull and decks this month and added a Furlex roller furler this summer. I believe these are the things that get people excited about looking further. The most important thing of all when you are ready to sell is to GET ALL OF YOUR JUNK OFF THE BOAT before showing her! I can't tell you what a turn off it is to see a cluttered cabin.
 
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Steve

Give a thought to the ladies

Buying a boat was a joint venture between my wife and I. Now I know something about repair of fiberglass, wood and electronics. I felt that I could find an old boat, buy it right, then slowly replace stuff, piece by piece, having done that before. However, if you want your wife to be your sailing partner, also, better listen to her. My wife convinced me to pay a slight premium (even then, I think we still paid a fair price) for a boat that was clean. That is, it did not have any mold accumulated in areas where we were to sleep, that the interior had been upgraded and the overall looks (paint and woodwork inside and out) of the boat appeared to have been cared for. New bottom paint (within two years), new rigging and a redo of upholstery and woodwork convinced her that this boat was worth her putting in new curtains, buying new dishes and generally throwing herself into a new (for her) venture... cruising. My practised eye also noted that that most every system on the boat was there and working (in one way or another) and that any repairs to get it decently sailable (not luxuriously, but reasonably decent) were manageable. Together we are slowly going to refit for gunkholing next summer. But listening to her was definitely worth the time. Steve
 
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John

THREE WORDS NAVSTATION NAVSTATION NAVSTATION

Upgrades to nav station help resale, as to clean 'n tidy engines and dry / clean bilges. remove all your crusing garbage, and draw up a schematic showing all thru-hull fittings and fuel / propane system, these go a long way in telling the customer you mean business when it comes to safety and maintenence. Again, a well planned nav station with matching instruments, chart lights 12V power outlets.. Call me crazy... just my .02 (obvously this is for an offshore type of boat)
 
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Fred Ficarra

Yup, did a lot of work on the navstation, but

after our three year (plus) rebuild, S.V. Epitome is NOT FOR SALE. Only for SAIL. My h34 has a replacement value now, of about $114.000. (survey) But market, who cares? Not me. She is not the boat we bought new. I can't think of much else to change. We are just going to enjoy her. She is perfect for us. (To folks that have been to my site, there are 50% more snaps as of this weekend) Hay, Ron (Mills) your mentioned in there.(thank you))
 
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Dan Hoffman

Engine Upgrade

When purchased, our 1974 29ft Ericson sailboat had an old Palmer P60 gas engine in it. For not only resale, but also safety, we decided to replace it with a Volvo Penta diesel engine. The upgrade to a diesel engine will not only provide better fuel economy, it will remove the chance of a gas explosion.
 
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Robert Sagebiel

S-S-C-C

S-S-C-C: Safety - Seaworthy - Comfort - Clean. These are the keys to having a good boat. You should do these things first for yourself. A clean boat with good equipment in working order will always go for a higher price vs. a dirty boat with lots of broken parts or systems...
 
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joe higgins

Ya, but

1. Gas is not that dangerous if handled correctly. People don't seem to worry about propane leaks - why is gas such a concern. The safety record of gas is not horrible. Repowering will cost at least 5k. An older boat will never pay this back.
 
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