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Thread: Buy or rent mooring

  1. #1
    Join Date
    Nov 2005
    Location
    Auckland, New Zealand
    Posts
    7

    Question Buy or rent mooring

    Iíve looking at options for mooring my 28ft Keeler. Iíve been renting a walk on mooring at my local marina, from the marina operators. I could buy the lease to a mooring at the same marina, for around $25k. I would then pay the monthly operating expenses to the marina. Theyíre pretty close to what I pay in rent. The leases have varying expiry dates, from 7 to 17 years in the future. I assume the resale value of the lease diminishes as the term comes closer to expiry. If Iím right about all of that, I donít see why anyone would buy the lease rather than rent. But people do, and Iím looking at the lower end of the market: my boat is 28ft. Bigger leases are on the market for up to $200k, and even $1m at a new marina nearby. Am I missing something? Should I buy or rent?

  2. #2
    Join Date
    Mar 2007
    Location
    East Quogue,NY
    Posts
    23,257

    Default

    Quote Originally Posted by TimDare View Post
    I’ve looking at options for mooring my 28ft Keeler. I’ve been renting a walk on mooring at my local marina, from the marina operators. I could buy the lease to a mooring at the same marina, for around $25k. I would then pay the monthly operating expenses to the marina. They’re pretty close to what I pay in rent. The leases have varying expiry dates, from 7 to 17 years in the future. I assume the resale value of the lease diminishes as the term comes closer to expiry. If I’m right about all of that, I don’t see why anyone would buy the lease rather than rent. But people do, and I’m looking at the lower end of the market: my boat is 28ft. Bigger leases are on the market for up to $200k, and even $1m at a new marina nearby. Am I missing something? Should I buy or rent?


    The lease guarantees you a spot. The rental is year to year. How much is having the same spot year after year worth to you? If you had to moor someplace else, would that bother you? Or, not?

    Kevin


    Sent from my iPhone using Tapatalk Pro
    There are two kinds of boaters: those who have run aground, and those who lie about it.

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