Buying my 1st boat

[Baddog]

Thanks for all of the input guys... Little on my situation. No student loans, no CC debt, and a solid and secure job. I guess I would like to keep it under $20k to start.

It sounds like you probably had a better idea of waiting a few years to get situated. I am not broke, but not "loaded" either. Has anyone on here had any experience "co-owning" a boat with anyone? That might be a more logical option at this time if people have had a good experience with that..

I have co-owed a boat one time and it went so well I would do it again. However, it has to be with someone you know well and can spend quite a bit of time up front agreeing on "The Rules and Limitations". I bought it with my neighbor and it started with the fact that we both liked to ski and both had young kids. I had the perfect tow vehicle and he had an empty garage spot in which to store it. Everything split 50/50. I had the knowledge and skill to do maintenance and repairs, he had the brawn when needed. I wanted an 18+' I/O, he wanted a 16' outboard. We bought a 17' Larson with and 115 Johnson hanging off the back. Actually a not too bad ski boat, but NOT a BU. We had planned to use it on alternating weeks from Friday to Thursday, but as it turned out whenever one of us had our week, we needed another trained adult so we ended up using it together almost always. When my job moved my to the east coast we agreed on an equitable price and he bought me out. I ended up buying almost the same bought by myself once I got situated in NJ.

Bottom line: It is doable with the right party, but I have heard many horror stories where friendships have been ruined co-owning.