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Buy or rent mooring
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?
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