Can I realistically do a live aboard with 25k?

[Pablo Blanco]

Hi all, 

 I am a 57 yr old guy recently divorced.

   I won’t bore you with my tales of woe suffice to say I am left with 25k in the bank and a pension as all the legal people involved agreed that my now ex deserved a life of easy living and luxury! 
   So here I am thinking about what to do with my meagre fortune and what to do with my immediate/long term future.

   One option is to spend it on fast cars and women but alas 25k is not enough for either .. .......so........ I say to myself how about wasting it on a lifelong dream of mine......a liveaboard canal boat! 
   I’ve been thinking about this for a little while now and have spent countless hours doing the research (mainly on this site) but the truth is although I know a lot more about all things  canal boat related after those reading hours I still know next to nothing in comparison to what I should sensibly know before taking on such a big step............but then what sensible person would even consider living on a boat I say to myself? 
Soooooo, my question to you non sensible but knowledgeable personas is what can I realistically get and do with my 25k?

  I am a multi skilled tradesman by profession which means I am a qualified electrician and plumber (not currently gas safe registered) I can weld to a decent standard, a competent steel fabricator, confident with all engines and consider myself a half decent joiner........point being I am happy to do all the work needed to refurb|rebuild a boat should that make financial sense. 
  I am in full time employment and earn an above average wage (apparently) which means I am able to pay for and would need a permanent mooring within 20 miles of my work place which is fixed in Haydock near St Helens, I would need/want to live aboard as soon as possible after purchase.

   Thanks in advance for any and all replies.

     

   

  

   

[Athy]

Welcome to the forum. You'll get many helpful answers from experienced people on here - be prepared for their opinions to differ from time to time!

 

As a rough guide, go to the Apollo Duck Narrowboats web site and have a look at 'Water Music' - an oldish, fairly spacious (50 foot) boat from a respected builder, partly refitted but needs internal finishing (which you can apparently do), and dead on £25,000. It's a starting point.

 

[Alan de Enfield]

3 minutes ago, Pablo Blanco said:

Thanks in advance for any and all replies.

     

Wishing you all the best, and just a few things for you to think about.

 

You are unlikely to be able to travel to view a boat for the next X months.

 

Out of your £25k you will need to allow for surveys (at up to £1k each time - so if the 1st boat 'fails' you will need to spend another up-to £1k on the next boat, and so on) You will need to allow for a boat licence (say) £800 per annum, and you will need to allow around £3k for a residential mooring, and ideally £2k for repairs, replacements and fitting out the boat.

 

This will leave you with about (say) £18k. 

At this sort of budget you will not get a 'very good' boat and it could need major work doing, which eats into your survey allowance and 'repairs' budget.

 

Your experience as a 'sparky' can actually be detrimental, 12v DC electrics over long cable run lengths needs a totally different philosophy and installation practices.

(a couple of examples - T&E is not allowed, conductors must be flexible, like 2491X, current rating is rarely the deciding factor, Volt-drop becomes the critical factor - it would not be uncommon to use 10mm2 cable to run 2.5 amps.

 

Anyway - it can be done but unfortunately with your budget it will be very difficult.

[Tracy D'arth]

The best answer I can give considering your CV is just do it as soon as possible. You are an ideal boater. Don't wait, go for it.

We did and never regretted it.

Moorings near St Helens may be a bit tricky, Parbold is nice, Crook may have space, Bedford basin on the Bridgwater may have space and no licence required whilst in the basin. Wigan if you are desperate.

Buy a copy of Waterways World "The canal boat builders book", its a first time boaters DIY bible.

Edited April 15, 2020 by Tracy D'arth

[Athy]

1 minute ago, Alan de Enfield said:

Wishing you all the best, and just a few things for you to think about.

 

 

 

Anyway - it can be done but unfortunately with your budget it will be very difficult.

....though it may help that he is earning a good salary which should cover the incidental costs which you outline, leaving the lump sum intact for the actual purchase - as you say, eventually.

[mrsmelly]

How far from the coast is you workplace? If its near a coastal marina forget the sewer tube and buy a boat shaped boat and live in the marina for a while till you see how you get on.

[Alan de Enfield]

1 minute ago, Athy said:

....though it may help that he is earning a good salary which should cover the incidental costs which you outline, leaving the lump sum intact for the actual purchase - as you say, eventually.

True (to a certain extent) but they are all up-front costs (surveyors, moorings, licence etc) so will need to be paid from the initial capital.

[Pablo Blanco]

Oooo interesting, but this is where my lack of knowledge is most glaringly obvious I think.......no mention of engines, power supply, certificates etc etc

[Alan de Enfield]

1 minute ago, mrsmelly said:

How far from the coast is you workplace? If its near a coastal marina forget the sewer tube and buy a boat shaped boat and live in the marina for a while till you see how you get on.

Good thinking - very true, will get a much 'better' BOAT for £20k on the coast.

 

 

Just now, Pablo Blanco said:

Oooo interesting, but this is where my lack of knowledge is most glaringly obvious I think.......no mention of engines, power supply, certificates etc etc

 

If you are in a marina you don't need to initially worry about engine or power supply - its part of the benefits of being in a marina.

 

You will need a boat licence (£800) and insurance (£250)

[Pablo Blanco]

4 minutes ago, mrsmelly said:

How far from the coast is you workplace? If its near a coastal marina forget the sewer tube and buy a boat shaped boat and live in the marina for a while till you see how you get on.

Is this a cheaper option? 

[mrsmelly]

1 minute ago, Pablo Blanco said:

Is this a cheaper option? 

It can be. As Alan says you will get more boat for your money. There is also less paperwork bullshit needed. I dont even think you need a boat MOT if coastal? never used to do but it may have changed, others will know. Licences etc are also less or free, the mooring would be your biggest expense but ask around with people in the know at any location you actualy fancy. Ask about and on here if anyone will meet u for a beer after the lockdown as there is so much to know a face to face chat would be beneficial especialy if from a liveaboard boater.

[Alan de Enfield]

12 minutes ago, Pablo Blanco said:

Is this a cheaper option? 

 

7 minutes ago, mrsmelly said:

It can be. As Alan says you will get more boat for your money. There is also less paperwork bullshit needed. I dont even think you need a boat MOT if coastal? never used to do but it may have changed, others will know. Licences etc are also less or free, the mooring would be your biggest expense but ask around with people in the know at any location you actualy fancy. Ask about and on here if anyone will meet u for a beer after the lockdown as there is so much to know a face to face chat would be beneficial especialy if from a liveaboard boater.

 

In a coastal marina you do not need a boat licence and you do not need a BSS (Boat safety certificate = MOT) but you will need insurance.

I'm not sure how many marina's in your area will allow liveaboards, but its just a simple phone call.

My coastal marina (North Wales) is about £3000 per annum. Costs are based on size and mine is a fairly big boat.

 

Wherever you buy a boat you may well have transport charges to get it to your mooring.

 

Lifting her onto the trailer to take to North Wales, Lounge, Dining Room, Bedroom & Kitchen

Edited April 15, 2020 by Alan de Enfield

[Tracy D'arth]

Alan, please can we have some new 'photos of your big boat, you have shown these so often on here?

[Pablo Blanco]

2 minutes ago, Tracy D'arth said:

Alan, please can we have some new 'photos of your big boat, you have shown these so often on here?

Go on Alan, ah go on, go on go on go on

[Athy]

22 minutes ago, Tracy D'arth said:

Alan, please can we have some new 'photos of your big boat, you have shown these so often on here?

But to Pablo, being a recent arrival here, they are new.

[Alan de Enfield]

24 minutes ago, Tracy D'arth said:

Alan, please can we have some new 'photos of your big boat, you have shown these so often on here?

How about the 'other' boat which is now down in Plymouth (we moved it from Hull)

 

Wells Next the Sea, and passing the oil pipes that had fallen off a carrier whilst on their way to the Middle east.

On the visitors mooring at Salcombe

Awaiting lift out at Plymouth

 

 

 

 

[Athy]

Have you any interior shots of that one? I have never, as far as I remember, been on a cat' and I wonder how they are laid out inside. For example, are the bedrooms in the hulls/pontoons/long finny things at the sides?

[Alan de Enfield]

32 minutes ago, Tracy D'arth said:

Alan, please can we have some new 'photos of your big boat, you have shown these so often on here?

You may have seen them before - if you don't want to see them again just scroll on past.

 

I am simply showing what the OP can get if he decides to get a proper boat rather than a sewer tube on a muddy ditch.

 

We have had a number of Steel tubes (about 18 boats over the last 30 years)

 

Here are a couple of examples :

 

 

[Pablo Blanco]

1 hour ago, Alan de Enfield said:

 

 

In a coastal marina you do not need a boat licence and you do not need a BSS (Boat safety certificate = MOT) but you will need insurance.

I'm not sure how many marina's in your area will allow liveaboards, but its just a simple phone call.

My coastal marina (North Wales) is about £3000 per annum. Costs are based on size and mine is a fairly big boat.

 

Wherever you buy a boat you may well have transport charges to get it to your mooring.

 

Lifting her onto the trailer to take to North Wales, Lounge, Dining Room, Bedroom & Kitchen

WOW.......I am officially impressed .......out of interest what kind of money is something like that worth......apologies if that is a rude question on here ! 

[Alan de Enfield]

1 minute ago, Athy said:

Have you any interior shots of that one? I have never, as far as I remember, been on a cat' and I wonder how they are laid out inside. For example, are the bedrooms in the hulls/pontoons/long finny things at the sides?

The long 'finny' things on the side are wider than a NB, on ours one side is the 'Master Suite' and includes king size bedroom, separate office, bathroom and a separate shower room. The other Hull has two bedroom and a central bathroom / shower.

The salon is the 'bridge' across the two hulls and includes the 'lounge' and kitchen.

 

 

[Athy]

Wow. Pablo won't get one like that for his money, but it's something to aspire to.

 

Oh, duly noted that they are "hulls"!

[Alan de Enfield]

4 minutes ago, Pablo Blanco said:

WOW.......I am officially impressed .......out of interest what kind of money is something like that worth......apologies if that is a rude question on here !

That would be a bit over your budget, but you could get a similar sized boat for well within your budget, add in your DIY skills and what you get is whatever you can do.

[restlessnomad]

1 hour ago, Pablo Blanco said:

Hi all, 

 I am a 57 yr old guy recently divorced.

   I won’t bore you with my tales of woe suffice to say I am left with 25k in the bank and a pension as all the legal people involved agreed that my now ex deserved a life of easy living and luxury! 
   So here I am thinking about what to do with my meagre fortune and what to do with my immediate/long term future.

   One option is to spend it on fast cars and women but alas 25k is not enough for either .. .......so........ I say to myself how about wasting it on a lifelong dream of mine......a liveaboard canal boat! 
   I’ve been thinking about this for a little while now and have spent countless hours doing the research (mainly on this site) but the truth is although I know a lot more about all things  canal boat related after those reading hours I still know next to nothing in comparison to what I should sensibly know before taking on such a big step............but then what sensible person would even consider living on a boat I say to myself? 
Soooooo, my question to you non sensible but knowledgeable personas is what can I realistically get and do with my 25k?

  I am a multi skilled tradesman by profession which means I am a qualified electrician and plumber (not currently gas safe registered) I can weld to a decent standard, a competent steel fabricator, confident with all engines and consider myself a half decent joiner........point being I am happy to do all the work needed to refurb|rebuild a boat should that make financial sense. 
  I am in full time employment and earn an above average wage (apparently) which means I am able to pay for and would need a permanent mooring within 20 miles of my work place which is fixed in Haydock near St Helens, I would need/want to live aboard as soon as possible after purchase.

   Thanks in advance for any and all replies.

     

   

  

   

Welcome to the forum, the veterans here will guide you for sure. Just wanted to say, yours is the most comprehensive opening post I have seen recently, that makes it easier for members to give specific suggestion / advice.

Edited April 15, 2020 by restlessnomad

[Pablo Blanco]

14 minutes ago, Alan de Enfield said:

That would be a bit over your budget, but you could get a similar sized boat for well within your budget, add in your DIY skills and what you get is whatever you can do.

Interesting indeed.......I clearly have a lot more to look into........I know less about sea going boats than I do about narrow boats and that is very little indeed.

   Does seem a viable option though.........any recommendations for books/websites on what I should be looking for and what I need to know before buying? 

[Alan de Enfield]

Just now, Pablo Blanco said:

Interesting indeed.......I clearly have a lot more to look into........I know less about sea going boats than I do about narrow boats and that is very little indeed.

   Does seem a viable option though.........any recommendations for books/websites on what I should be looking for and what I need to know before buying? 

Suggest you 1st look at a coastal marina a suitable distance from your work.

Ask them if the allow liveaboards, if they don't, that closes that option, if they do, come back and we can point you towards some more 'lumpy water' boat info.