How can you make the most of a boat show? You should first start by getting a clear understanding of what you want in your next boat. If you currently own a boat what is it lacking that you wish it had? What do you like about your current boat? Make sure the next boat you buy doesn't sacrifice your MUST HAVE items. No boat can be all things to all people. You will compromise in a boating just like we compromise in relationships.
I have found the 80/20 Rule to be very helpful in narrowing your search. After you have written down your 3-5 must haves, set a specific financial goal for this purchase. I know the heart wants, but boating is meant to be a fun recreation and the last thing you want is to be financial stressed if you don't use the boat one month. Back to the
80/20...If you have 10 must have items you might have to compromise on a few items.
Don't get locked into analysis paralysis. The reason you took the time to write out must have and financial goals is to keep you on task. If you find the perfect boat that is financially unattainable don't dwell on something that won't happen, instead visualize the items that attracted you to the unattainable and consult your Broker for options in your price point.
You have have stayed on task with all your hard work and have narrowed your search down to 2 or 3 boats that you would be happy to own. Now you and your broker sit down to strategize a purchase plan. You look at comparable listings, sales and make adjustments for options and condition. After making a reasonable deduction you just have to go for it and see what happens.
I know customer sometimes get locked up on the one boat they missed that was the
DEAL of all deals. The recreational and discretionary market has seen its challenges the last 5 years but it is not in a
FREE fall. I have actually helped customers buy boats and 12-18 months later sell them for the same price they paid. They likely would have spent some money on maintenance and customization, but all in all a minimal cost.
What this tells me is the choices have narrowed and there are not many people left who "HAVE" to sell. What we have now are people who still love boating but likely want to move up at their speed. They are not willing to take a
WHOLESALE number for trading their boat so they employ a broker to market their boat and put more money in their pocket for the next purchase. All this being said values on boats don't typically go up but supply, demand and common sense will always prevail. Just don't set your bar at the lowest comparable sale price and say I won't pay a penny more! You might very well hit your target, but you have to ask yourself a question Is 8-18 months of looking for the perfect deal worth 3-8% of the purchase price for the DEAL? When you are giving up the potential return of enjoyment and memories.
I hope your
Ft Lauderdale Boat Show is a success and if you need my help feel free to email
shane@tampayachtsales.co, call 727-647-5557 or visit
www.tampayachtsales.com.
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