You will get a lot of good feedback here. You have several decisions that all start with how much money are you plan on spending. This is the largest variable. Your next decision is how many partners, if any, you want, and I think this is a larger consideration than how old the boat is, which is the third variable, do you want new or used keeping in mind after the first year in a new high dollar time share, the boat is very used, but the new price loan payment remains. And then do you want wet slip for ultimate convenience or launch and retrieve.
For me, I would take the money available from all three families and put it into the best maintained used, wet slipped, boat that serves your needs with the fewest number of partners. For best investment value I would not be influenced by any of the new excess boats. Family and the lake is the source of your memories not a $5k stainless hood over the upper bbq. And the more things you have on board, the more things that will eventually break. Bravada and compass north changed everything a few years ago with fresh designs, interior details that don't all work well with wet environment, home build processes instead of marine, etc, but these very expensive boats depreciate very fast and after 5 years your $125k buy in is on Craigslist for $20k. And as soon as you have a member who bought in at such low buy in, that member and his share cost will become the baseline. Spend the money on reducing partner count not on flashy excess.
At the end of the day 18 timeshares per boat is way to many, but that happens to be a number that provides one week per timeshare owner during the summer but more important makes each share available for just above 5% of total asset entry cost, it also allows the boat builder and management company to make massive massive profit as each buyer is not looking at the total cost or line list cost, they are looking at their very diluted equity slot and associated lower cost and just just happy that they can get into a boat for an obtainable buy in. In my opinion I would NOT buy into a new boat unless you need a hole to dump cash or have cash to fund the entire purchase, keyword here is cash, I would not finance a new $100k timeshare buy in, but would finance if needed a buy into a used 2 partner boat at $100k per share that has seen its value stabilize. Again, I would spend the money on reducing partners. I would be happy with an older boat that has been very well maintained with just 2-4 partners. A partnership like this is going to be self managed instead of pro managed especially if wet slipped and that is a financial benefit as long as all the partners share the same goal and are on the same financial level, willing to spend the money on the boat. A cheap or financial limited parter will make things hell for everyone, not wanting to spend $25 on a generator impeller until it fails etc, let alone adding a new upstairs kitchen. Avoid cheap partners. And meet every partner and make sure you are the same "type" of people. If you have a dog make sure your boat allows dogs, understanding a dog boat will usually be a notch below a non dog boat with carpet condition etc. If your partners have teenage kids and are from Utah understand that there will be 15 kids plus 6 adults onboard during their weeks, a lot of extra rough use and wear. By having fewer partners means more time available on the boat, so instead of one week per year you can get one week per month and what this means is instead of having 27 people on the boat once a year you can have 10 people on the boat over three monthly trips instead. Fewer people on board lowers stress and prolongs friendships. Do not be afraid of buying an older boat but make sure it shows as very clean and very well maintained especially in the engine area, you do not want to see wires going everywhere or clutter and junk everywhere, or oily bilges, everything should be tidy and clean. Look at the logs and make sure the generator oil is getting changed every 100 hours, make sure the the impellers are changed out every year, etc. I would not consider a boat with more than 4 partners total and would prefer a 2 partner boat and do not be afraid of a single family owner option, with the three families you mentioned that may be an option. You can get a lot of boat today for the money, check out crop duster at AP.
I would suggest a good inverter system and gas stoves as this allows you to operate without the generator during the cooler periods of the year. I would also suggest a full size fridge downstairs and second kitchen with full size fridge and gas stove and oven upstairs. A hardtop upstairs will be cooler than a canvas top. A full wrap black screen will keep temps cooler on the upper deck. Make sure your fuel tanks can handle 7-10 days full generator run plus main engine to an from marina plus enough for jet ski refills etc. 30 - 75 gallon per day works for us depending on ski boat use. You will need 6 anchors and 8 lines (secure the bow to closet anchor). Pontoon will drive straighter and sit more stable on beach than mono hull, but you give up storage space, desert shore and destination make good aluminum toon boats, stay 100% away from steel. You can get ALOT of Destination Yacht boat for the money, very good value choice. Deck mounted AC system are loud and hot, a water cooled setup is much quieter and allows zone cooling and also provides redundant systems, this is beneficial if one system fails, you still have other water cooled AC systems as back up to keep the boat cool. Also, black tank size is important and can easily be expanded with a second transfer tank and pump, plan on 20 gallons per person per week, which is about 3 gallons per person per day, 200 gallon minimum black tank with at least 2 toilets. You do not want water tanks, just have a good big blue water filter system and plan on drinking bottled water.
Good luck. And remember it is not the boat that makes memories it is the family and Powell. Don't overspend, you can get a lot of boat for the money right now and do not overlook buying a used single owner and forming your own 3 family partnership just for your family with entry cost and monthly cost split 3 ways. Whatever you do, do NOT buy into a new 18 share timeshare, if you want new boat then buy out a desperate condition share holder from a last year launch at half the price he paid last year.
For me, I would take the money available from all three families and put it into the best maintained used, wet slipped, boat that serves your needs with the fewest number of partners. For best investment value I would not be influenced by any of the new excess boats. Family and the lake is the source of your memories not a $5k stainless hood over the upper bbq. And the more things you have on board, the more things that will eventually break. Bravada and compass north changed everything a few years ago with fresh designs, interior details that don't all work well with wet environment, home build processes instead of marine, etc, but these very expensive boats depreciate very fast and after 5 years your $125k buy in is on Craigslist for $20k. And as soon as you have a member who bought in at such low buy in, that member and his share cost will become the baseline. Spend the money on reducing partner count not on flashy excess.
At the end of the day 18 timeshares per boat is way to many, but that happens to be a number that provides one week per timeshare owner during the summer but more important makes each share available for just above 5% of total asset entry cost, it also allows the boat builder and management company to make massive massive profit as each buyer is not looking at the total cost or line list cost, they are looking at their very diluted equity slot and associated lower cost and just just happy that they can get into a boat for an obtainable buy in. In my opinion I would NOT buy into a new boat unless you need a hole to dump cash or have cash to fund the entire purchase, keyword here is cash, I would not finance a new $100k timeshare buy in, but would finance if needed a buy into a used 2 partner boat at $100k per share that has seen its value stabilize. Again, I would spend the money on reducing partners. I would be happy with an older boat that has been very well maintained with just 2-4 partners. A partnership like this is going to be self managed instead of pro managed especially if wet slipped and that is a financial benefit as long as all the partners share the same goal and are on the same financial level, willing to spend the money on the boat. A cheap or financial limited parter will make things hell for everyone, not wanting to spend $25 on a generator impeller until it fails etc, let alone adding a new upstairs kitchen. Avoid cheap partners. And meet every partner and make sure you are the same "type" of people. If you have a dog make sure your boat allows dogs, understanding a dog boat will usually be a notch below a non dog boat with carpet condition etc. If your partners have teenage kids and are from Utah understand that there will be 15 kids plus 6 adults onboard during their weeks, a lot of extra rough use and wear. By having fewer partners means more time available on the boat, so instead of one week per year you can get one week per month and what this means is instead of having 27 people on the boat once a year you can have 10 people on the boat over three monthly trips instead. Fewer people on board lowers stress and prolongs friendships. Do not be afraid of buying an older boat but make sure it shows as very clean and very well maintained especially in the engine area, you do not want to see wires going everywhere or clutter and junk everywhere, or oily bilges, everything should be tidy and clean. Look at the logs and make sure the generator oil is getting changed every 100 hours, make sure the the impellers are changed out every year, etc. I would not consider a boat with more than 4 partners total and would prefer a 2 partner boat and do not be afraid of a single family owner option, with the three families you mentioned that may be an option. You can get a lot of boat today for the money, check out crop duster at AP.
I would suggest a good inverter system and gas stoves as this allows you to operate without the generator during the cooler periods of the year. I would also suggest a full size fridge downstairs and second kitchen with full size fridge and gas stove and oven upstairs. A hardtop upstairs will be cooler than a canvas top. A full wrap black screen will keep temps cooler on the upper deck. Make sure your fuel tanks can handle 7-10 days full generator run plus main engine to an from marina plus enough for jet ski refills etc. 30 - 75 gallon per day works for us depending on ski boat use. You will need 6 anchors and 8 lines (secure the bow to closet anchor). Pontoon will drive straighter and sit more stable on beach than mono hull, but you give up storage space, desert shore and destination make good aluminum toon boats, stay 100% away from steel. You can get ALOT of Destination Yacht boat for the money, very good value choice. Deck mounted AC system are loud and hot, a water cooled setup is much quieter and allows zone cooling and also provides redundant systems, this is beneficial if one system fails, you still have other water cooled AC systems as back up to keep the boat cool. Also, black tank size is important and can easily be expanded with a second transfer tank and pump, plan on 20 gallons per person per week, which is about 3 gallons per person per day, 200 gallon minimum black tank with at least 2 toilets. You do not want water tanks, just have a good big blue water filter system and plan on drinking bottled water.
Good luck. And remember it is not the boat that makes memories it is the family and Powell. Don't overspend, you can get a lot of boat for the money right now and do not overlook buying a used single owner and forming your own 3 family partnership just for your family with entry cost and monthly cost split 3 ways. Whatever you do, do NOT buy into a new 18 share timeshare, if you want new boat then buy out a desperate condition share holder from a last year launch at half the price he paid last year.
