Noobie fantasy, flaming aloud

I’m proceeding down a plan that probably is a mistake, but maybe with help here, I can make it less so.

let’s begin with backround.
All boating experience is 20’ and under. I’m retired. I have always had an interest in boats/water. My wife loves the water also and dreams of living by the sea. All the bills are paid and we have some disposable cash. I am extremely mechanically inclined to the point where I can fix anything. (Not that I’m looking for a job)

Initial research.
Originaly, we looked into buying a yacht and docking at a marina. A couple of things come to mind. I have no illusions that we will cruise the world, in fact, I expect the boat will be tied to the dock most of the time. This is not a bad thing as we live an hour drive to the ocean, so the boat would be a “beach house”. We could also let friends and relatives use it for weekends and such. The one thing I found in research was boats seem to be a bad investment and of course the monthly dock fee is money gone forever.

The new plan.
We ended up buying an acre of land on a large bay that is part of the inter coastal. It’s very secluded with its own beach. It’s very beautiful and we probably will build a house here eventually. Right now I just want to see if the water life is for us. So I had a well drilled and a power pole installed. We are currently having a dock built. As you probably guessed, we are looking at yachts now. Once we get one, we can dock for free and the property is allready worth more than we paid.

The boat.
We have a list of “must haves” and determined that we need a 40’ to 60’ boat. Prices on new boats are out of the question and the depreciation is far too steep anyways. So here comes my first question. How old is too old? This boat will probably never see open ocean. We might cruise a 100 miles one way or the other from our dock, but that’s about it. What about a boat with one engine down? If I stay in the inter coastal, would it be crazy? (There are some cheap boats like this)

The other thing I want to ask about is Insurance. Does everybody run it?. I hate insurance and prefer not have it. (Another monthly bill) This would limit the purchase price to less than a $100,000. (I’m not going to spend what I can’t afford to lose) I would prefer to spend more like half of that. Is it feasible to get a semi seaworthy boat for $60,000 that’s nice. I see some advertised, but havnt really checked them out.

How important is a survey? Does anybody just do their own with a list of things to check? I have some other stupid questions, but that’s probably enough for now.

I checked and we can live on the dock.
But we have no intention of living aboard. (Other than for weekend or so) We are keeping our current house. The only way we would sell it is after we build a new house down there.

On the insurance issue, can you get just liability insurance? Is it very reasonable? As far as docking at a marina, are they going to check insurance when stopping for fuel? I don’t see us going to a marina. For example, I imagine going to Destin and anchoring in the harbor. Then we would take a dingy to shore for dinner. Back to the yacht to sleep. Is that not feasible?

When you say “complex systems I don’t know anything about”, I’m thinking what systems? Motors, transmissions, air conditioning, plumbing, electrical, generators? I know a lot about all that stuff.

I had an owner of a yacht I’m considering send me a survey she had done on the boat. It was a very complete list, but the checks by the survey guy were very simplified. Like the generator wouldn’t start. Doesn’t say if it turn over or getting fuel or 12 volts anything. If I was there checking that, I would know more than what he told me. I’m inclined to use her survey as a guide to do my own.

Funny you mention Hatteras, that is the brand I have been most impressed with. But that is from a layout and styling prospective. When it comes to age, I’ve heard in smal boats there was point in the late 80’s where most manufacturers went to all fiberglass. Obviously, there were lots of fiberglass boats before that for many years, but apparently, they had wood structure in cased in fiberglass. The wood could rot out and leave a weak boat. Once they went to all glass, this problem was all but gone. How about big boats? Is there anything like this I should be looking out for?

Is the inter coastal ruled by the state? I thought that would be federal. Another stupid question. I’ve heard you can travel the entire east coast on the inter coastal. Is this true? It would seem like you would have to go off shore some places.

Sorry for all the questions, I know I’m being a PITA. But I’m learning a lot here quick.

So let me ask you point blank, if it was you, not me, would you flat out refuse to drive a boat a couple hundred miles on one engine? (Never leaving sight of shore) Are they that hard to maneuver?

There are couple boats with one engine down. I’m sure I can fix them, but I’m not working out of town. If I can get it home, I can take my time.

Very impressive! I wouldn’t consider that canal if I had two engines. It’s settled then. I’ll hire you to take the boat home.