North Carolina Coastal Property and Boat Slips   
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Is financing available for my boat slip purchase?





Yes. With the same tax deductions that a conventional mortgage offers.  
We have local financial institutions in place that can help you with financing.

Are there property taxes?

Yes. Taxes must be paid like any other real estate that you might own.

Boat Slips

Purchasing a boat slip, wet or dry, has many advantages.  The advantages of owning
have long been understood in the traditional real estate market.  With a growing
population of boat owners and increased demand on the part of boat owners for slips,
rental prices are rising and waiting lists for rental slips are growing increasingly longer.
Now, savvy boat owners are enjoying the advantages of owning boat slips.  Boat slip
owners have not only secured a home for their boats, they have the possibility of the
increased value of their slips.

What is a boat slip?

Boat slips are individual slips that can be sold and transferred by deed to individual
boat owners and investors. Sometimes, included in the purchase price of the slip, is the
ownership (in common with the other slip owners) of the marina common areas.
These might include things such as a service center, marina store, fuel dock,
office/retail space, etc., the marina parking, recreational amenities, club house,
restaurant, gym, pool, etc.

What type of amenities are available with slip ownership?

Many facilities offer a club like atmosphere. They may include swimming pools, tennis
courts, gyms, showers and rest rooms, laundry facilities, picnic areas, assigned and
guest parking, a restaurant , lounge, ship's stores, car and/or bicycle rentals, complete
fuel dock(s) (both gas and diesel), pump-out stations at each slip, as well as complete
maintenance programs, staffs, facilities and services for your yacht.

There are many advantages to owning a slip versus renting.


These benefits include the following:

1: More control of your boating water access, lifestyle and destiny.

2: Building equity of owning as opposed to leasing.

3: If the purchase is financed by a qualifying home equity loan or if the boat and slip
can qualify as a second home, the interest is generally tax deductible.
Additionally, the real estate taxes paid in connection with the slip are also
tax deductible. Always consult with your tax advisor.

4: If structured properly, the after-tax cost to many boat owners will be less than the
rental rate they would be paying for the same period. After the loan is paid off,
the ongoing cost of owning the slip is a small fraction of rental.

5: Ownership of a slip protects a boat owner from the consistent increases in
rental rates. The slip becomes an asset instead of a cash drain.

6: The boat slip can be sold or transferred, at any time, or passed by inheritance .

7: If an owner is not using his slip, the slip may be rented for income.

8: Increasing governmental regulation limiting the number of marinas which can be
built, coupled with the consistent demand for boat slips, create the
potential for an appreciation in your slip's value.
For More Information Contact:

North Carolina Coastal Properties
Thomas Cleary
Office:  252-229-7746

thomas@carolinawaterfrontonline.com

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