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piedaterre

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Everything posted by piedaterre

  1. The idea of remortgaging and borrowing more than the outstanding balance got the OK. However, the idea's a non-starter - the property has to be my primary residence and clearly it wouldn't be.
  2. Big dog on the forum. Again, must be nice to be somebody, even if it's on a boat forum.
  3. Irony. Thanks to everyone else for the input. Definitely a fair amount to think over.
  4. Still missing the point here. It's not what was said, it's how it was worded. To the rest of you, thanks a lot for your inputted. Genuinely appreciated.
  5. Pack mentality. Still, must feel nice to be somebody, even if it's on a boat forum.
  6. Italicizing and phrases like 'whatever that means' in response to a question I've asked sort of hints the question or whatever's been said is nonsense. Doesn't really go down well. If that was said to somebody during a face to face conversation, would it be well received? I doubt it. Anyhow, I didn't come on here to debate that or get into spats with forum personalities.
  7. Definitely not bored with the thread, all sensible input welcome, and I've taken it on board. More bored with attitude of some respondents but as said, no more airtime.
  8. Yep but we all know Mike was being deliberately obtuse in his response. Anyhow, no more airtime from me being given to it. At best it's boring.
  9. I've be looking to moor in a place used last time, big enough place, plenty of boats and they allow liveaboards who largely go under the radar. I agree with the analogy of comparing it to buying a car and whether anyone would choose to borrow money against their home to do this given it's a massively depreciating asset. I think the maths do stack up, and I'd be worse off by moving to a boat by at least £300 a month. And this is a minimum. It doesn't take into account the opportunity cost of what the £40K might do if it were spent on a bigger house which'll appreciate overtime. Or sticking in funds. I'm putting money away in Vanguard equities and index linked trackers every month and seeing decent returns. Perhaps it's more prudent to borrow £20K and have a leisure boat. Associated mooring, licencing and running costs will be lower. And it'll be much newer. Used Aintree 25ft boats are around the £25K mark. I could always upgrade in later years to something bigger when more of my home's paid off and the risk becomes less. I wouldn't have the worry of a potentially not-let property and having to cover the cost of a mortage plus the running of the boat too. Re. diesel and the future of narrowboats, doesn't look like it's too much of a worry then!
  10. Definitely not overlooked and agree they'll dwarf depreciation. Circa £2K for mooring - it's cheap up north. £850 for a licence. And £150 a month slush fund for general maintenance excluding blacking. Heating, fuel, gas etc on top of this. Crystal ball is broken at the moment and I don't think I've ever hinted at an expected date.
  11. That's what I'm looking to do. Basically it'll means taking a further loan out / charge against the property. It's not equity release. The aim is to continue to overpay like mad anyhow. Even if I were to borrow another £40K I'd still have 15%+ equity left in the property itself which is all they'd probably be worried over. I'm fortunate due to age, income and value of the property that it shouldn't be a problem. Hopefully.
  12. Hi Mike, apologised for cross-posting but have the same question asked in the liveaboard forum - wasn't too sure where to post the question
  13. Thanks. That was my initial thoughts too - then I started searching and seeing electric autonomous cargo ships and all sorts!
  14. Once the letting-related fees and rental income's taken into account I expect to be worse off by around £250-300 a month versus staying put. But this doesn't account for the fact I'd have an asset worth £45K or so. So the real net position won't be quite so much, You're right, I'm sure a lot would kill to be in my position but I guess that's the sticking point. I'm potentially giving up on something that others would kill for! So maybe there's something wrong with it. If it comes to it I guess I could sell a boat in a few years time for not too much less than I paid and pay a massive chunk off the house and it'd be like it never happened.
  15. Apologies for the cross-posting but wasn't sure which forum's best to have posted this in... A long story short is, having owned a narrowboat previously for leisure, I'm looking to potentially release equity in my property to allow the outright purchase of a narrowboat to live aboard. I've priced up releasing equity to buy a newer much smaller boat for weekend use but the cost differential between that and a larger boat means it become a very expensive weekend retreat, rather than something that won't cost expedentially more to actually live on. I'm in my mid 30s, single, no kids, no debts or commitments and I'm extremely fortunate to have a net income of around £3.2K a month. My property is worth maybe £140K and I've just over £60K worth of equity in it. I'm looking to take around £40K out of the property to buy a boat outright, in addition to what I've saved, meaning I've got a reasonable budget. The intention is to let my place out, and after expenses and associated letting costs, there'll be little financial difference between land life and being a liveaboard. But my mortgage is covered. Having had experience of boats in the pst I think I've budgeted realistically. It's a real heart Vs head decision. One of the major influencing factors is the worth, salability and even usability of a diesel boat in the not too distant future due to diesel. Will a £40-50K boat have any net value if diesel's impossible to come by, or at a price point that makes it prohibitive. From what I've read, it'll not be as simple as sticking a hybrid engine and/or battery bank in diesel engined boat, cost aside, potentially rendering it worthless in years to come. Appreciate life's not all about numbers and nobody knows what the future is but doing this is a massive financial change - most would think I'm mad and talk me out of it. Many would be envious of my situation and a part of me thinks I'm mad for potentially compromising it! Words of advise for those more wordly and wise would be appreciated!
  16. A long story short is, having owned a narrowboat previously for leisure, I'm looking to potentially release equity in my property to allow the outright purchase of a narrowboat to live aboard. I've priced up releasing equity to buy a newer much smaller boat for weekend use but the cost differential between that and a larger boat means it become a very expensive weekend retreat, rather than something that won't cost expedentially more to actually live on. I'm in my mid 30s, single, no kids, no debts or commitments and I'm extremely fortunate to have a net income of around £3.2K a month. My property is worth maybe £140K and I've just over £60K worth of equity in it. I'm looking to take around £40K out of the property to buy a boat outright, in addition to what I've saved, meaning I've got a reasonable budget. The intention is to let my place out, and after expenses and associated letting costs, there'll be little financial difference between land life and being a liveaboard. But my mortgage is covered. Having had experience of boats in the pst I think I've budgeted realistically. It's a real heart Vs head decision. One of the major influencing factors is the worth, salability and even usability of a diesel boat in the not too distant future due to diesel. Will a £40-50K boat have any net value if diesel's impossible to come by, or at a price point that makes it prohibitive. From what I've read, it'll not be as simple as sticking a hybrid engine and/or battery bank in diesel engined boat, cost aside, potentially rendering it worthless in years to come. Appreciate life's not all about numbers and nobody knows what the future is but doing this is a massive financial change - most would think I'm mad and talk me out of it. Many would be envious of my situation and a part of me thinks I'm mad for potentially compromising it! Words of advise for those more wordly and wise would be appreciated!
  17. Sorry for the delayed reply re. the sound deadening, and thanks for the positive comments. After a lot of thought I've decided I'd like something a bit bigger - ideally 35ft - and so the boat's just about to go into brokerage at Midway Boats, Barbridge. It's been valued at £15950...
  18. Thanks a lot for the feedback. I'm still in touch with the guy who fitted the fire so will check on what's beneath the tiles. I'm going to post a thread for some advice on sound deadening from the engine. With it being a 2 cylinder Vetus it's not massively refined and pretty noisy even at fairly low load. I'm told there's insulation and baffling that can be added inside the engine bay (if that's the right word?).
  19. As promised.. https://www.canalworld.net/forums/index.php?/topic/97336-first-boat-and-attempt-at-light-refurbishment-nb-hedgehog
  20. Thank you. The last time I picked up a paint brush was for GCSE Art. I've never done any DIY before even at home and so the whole thing took a lot longer than it should have. I had a lot of guidance from others though after they could see where I was going wrong, i.e. using the wrong type of rollers and having to re-sand and start again, which was helpful. I've just realised some of the photos make the paint look a bit rubbish below the roof ply - it's actually masking tape and not paint. The paint is maybe a bit too stark - F&B Wimborne white - but the hardest work's done in respect of the sanding and priming, so if I want to change colour in the future it won't be too bad. The photos don't show the contrast of the kitchen being French grey too well unfortunately.
  21. I posted here a few months ago asking over various bits of advice on boat I'd just bought so thought it was worth a quick update. A long story short is I bought my first boat a couple of months ago having been searching for something 30ft or less for a good for months. After viewing a good few, I bought NB Hedgehog, a Midway 235 with a Vetus engine. All's well with the boat but the intention always was to give the interior a bit of a lift. I'd spent a good number of evenings and weekends on it, in the boiling heat, and now it's pretty much done. Having never sailed a boat before I managed to take it single-handedly back from Great Haywood to Barbridge last week. Apologies to those I held up doing locks on my own. I took on a fair bit of the advice give on the forum and the following work took place... The old mix of laminate and carpet flooring, including the carpet covering the steps, was removed An engineered oak floor fitted and solid oak Scotia fitted All surfaces were sanded with the fairly heavy dark varnish removed The old poles, fixings, vents, handles, curtains and upholstery were removed and all holes filled Two coats of shellac BIN primer and a light sanding Interior painted in a mixture of F&B and Little Greene paint New curtains and seat upholstery fitted New vents, poles, door knobs etc fitted I know the interior's not traditional but I'm happy with it, other than a few small bits still in need of finishing. Most seem to like it - other than one commenting 'it's too white... like a public toilet'. I'd like to say I cut and fitted the flooring and Scotia boards but it was carried out by Steve who's based at Great Haywood. The flooring looks great and I'm happy to recommend him to others. He can be reached on 07415 070591. Steve was also accommodating and good enough to let me have use of a boat he's in the progress of building to lay the doors and panels down for paining when they were off the hinges which was a massive help. Old Vs new..
  22. Afraid not. The ad. was never taken down and has auto-renewed after another month, so back at the top of the listings. The boat's undergoing a fair bit of cosmetic work, hopefully due to be completed over the next 2 weeks. An engineered wooden floor's been fitted and I found a place able to do the curtains and seating. It's just down to me to paint the interior now. I'll share some before and after photos once done.
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