Dockominium

[bruceb58]

So...I am thinking about buying a slip at a marina at Big Bear in California. Its a partial ownership deal which apparently is called buying a dockominium.

I think I can get one for $30K with a $500 yearly fee for the facilities and of course property tax of an additional 1% or so.

My GF owns a house in Big Bear so we go their very often throughout the year. My dock at my house in Tahoe was $17K to put in so the price actually seems right considering that there is a parking lot, guard gate, bathrooms, power, etc.

Has anyone bought one of these and what are some of the cons for buying one of these?

 

[DXN]

Re: Dockominium

WOW I never realized a slip was that expensive! How much dose it cost to rent one.

 

[bruceb58]

Re: Dockominium

$2300/year which is really May through September because it is a high mountain lake that freezes over.

One problem with renting is that you can't have a boat lift if you rent and boats that sit in this lake get a ton of growth on them.

Believe it or not, $30k is a somewhat historic low. Before the recession, these were going for over $50k. At $30K, it would not be unreasonable to sell it for more than that a few years later. I am not counting on that though.

My bet is that someone with lakefront property would be spending closet to $20k for a dock. This dock is behind a breakwater and has other nice features so that brings up the value.

 

[crabby captain john]

Re: Dockominium

About 5 years ago the previous owner of my indoor dry slip bought at the bargain price of $63,500. In April I purchased from him at $22,500 but after my broker commission my total is $21,825. Indoor means no sun or rain-- most of all no bird poop. no need to bottom paint. My HOA fee is $120 monthly. No more ramps-- just call and tell them when you want it and it is tied at the dock. Upon return a dock girl grabs your lines and ties the boat down. I clean the inside. They take it out, rinse off the exterior and flush the motor prior to putting it away. They will have it fueled also if requested. When due for service just let them know. I'm having them detail her next month. Open all years with the exception of about 2 weeks around Christmas. Did I mention 'no more ramps and no more ramps'?

 

[bruceb58]

Re: Dockominium

Service is available at this place too, not that i would ever use it. My friend owns a slip there and he was having a battery problem. $100 for a new Interstate battery installed didn't seem too bad.