risk adverse friends

[Mad Harold]

I agree whole hearted with these posts.

Don't sell a house to live on a boat, as illness, age, and the uncertain future of the canal system, plus the certainty of increased costs are not something to look forward to.

Keep the property, rent it out, or if your friend can afford it, keep it for storage.

Get a bank loan for a boat,to live on, or buy a cheaper smaller boat and be a hobby boater, he can still live aboard in the summer and the house in winter.

Having spent a winter aboard, one can very quickly lose your sense of humour!

[Alan de Enfield]

1 hour ago, T.Dreme said:

I haven’t seen any comment referring to renting the house.  

 

Have you read the thread ?

 

21 hours ago, Alan de Enfield said:

Rent out the house,

 

21 hours ago, booke23 said:

 

⬆️ This.

 

I'd strongly advise at all costs to retain some sort of property if he's going to move onto a boat. If he can't mortgage or raise funds, sell and buy a smaller property to rent out.  

 

 

19 hours ago, Wanderer Vagabond said:

I'd be thinking more along the lines of taking out a loan to buy a boat whilst paying for it from the rental income of letting the house

 

 

 

 

 

Edited September 22, 2023 by Alan de Enfield

[Arthur Marshall]

I think it's interesting that there is a friend who wishes to sell "his" house and live on the water, but "they" are panicking about stuff. It does look like one wants to do it more than the other, and that's a recipe for disaster. Two people cooped up on a tin can, one of whom doesn't want to be there, misses the garden or friends and family...

 

[Wanderer Vagabond]

2 hours ago, Arthur Marshall said:

I think it's interesting that there is a friend who wishes to sell "his" house and live on the water, but "they" are panicking about stuff. It does look like one wants to do it more than the other, and that's a recipe for disaster. Two people cooped up on a tin can, one of whom doesn't want to be there, misses the garden or friends and family...

 

Exactly this. if you have two people on a boat and only one wants to be there, it is only going to end one way

[Annie cariad]

Tell them DONT bother 

[Col_T]

My view is that, as others have said, risk averse translates into they don’t really want to. Selling the house and buying a boat could be described as rash, at best. Renting the house and buying a boat is the best of both worlds.

 

It comes across as you pressuring your friends, it’s not your role. They shouldn’t do what you are suggesting.

[MtB]

Anyone genuinely "risk averse" will have sussed the dopiness of selling a house to buy a boat and dismissed the idea within seconds of it being mooted.

 

The story doesn't really hang together having considered it more carefully. 

[magnetman]

I usually don't risk adverse friends. 

 

Adversity seems unwise. 

[Chewbacka]

1 hour ago, Col_T said:

My view is that, as others have said, risk averse translates into they don’t really want to. Selling the house and buying a boat could be described as rash, at best. Renting the house and buying a boat is the best of both worlds.

 

It comes across as you pressuring your friends, it’s not your role. They shouldn’t do what you are suggesting.

Agree and if you encourage friends to sell their house and buy a boat and after a few years they really don’t like it and houses are too expensive so no going back, they will blame you.  It will end badly.

[manxmike]

We owned a boat and a house and even though we toyed with the idea of living aboard we didn't do it. Good decision - my wife now has MS and is now mostly wheelchair bound - wouldn't have worked very well on board.

Prior to all that we owned a house and inherited another. We rented out the first house to three charming young ladies. Sometime later we discovered just how charming they were, they were running a brothel from the property (not even any free samples!). When we suggested they should pack up and move on they did a considerable amount of damage to the house and failed to pay four months back-rent.

The upshot is I would never rent out property again, I would sell it and invest the proceeds.

The couple having doubts are sounding sensible - not a good move unless you are in excellent health and both want to follow that particular rainbow.

[Laurie Booth]

On 26/09/2023 at 14:53, manxmike said:

We owned a boat and a house and even though we toyed with the idea of living aboard we didn't do it. Good decision - my wife now has MS and is now mostly wheelchair bound - wouldn't have worked very well on board.

Prior to all that we owned a house and inherited another. We rented out the first house to three charming young ladies. Sometime later we discovered just how charming they were, they were running a brothel from the property (not even any free samples!). When we suggested they should pack up and move on they did a considerable amount of damage to the house and failed to pay four months back-rent.

The upshot is I would never rent out property again, I would sell it and invest the proceeds.

The couple having doubts are sounding sensible - not a good move unless you are in excellent health and both want to follow that particular rainbow.

To get rent guarantee it costs £20 a month, well worth it.

[Wanderer Vagabond]

On 22/09/2023 at 22:00, Col_T said:

My view is that, as others have said, risk averse translates into they don’t really want to. Selling the house and buying a boat could be described as rash, at best. Renting the house and buying a boat is the best of both worlds.

 

It comes across as you pressuring your friends, it’s not your role. They shouldn’t do what you are suggesting.

Interestingly risk averse would suggest one who doesn't like to take risks. The thread title is risk adverse and the dictionary definition of adverse is,"....Contrary to one's interests or welfare; harmful or unfavorable....." perhaps a Freudian slip in the original question?

[manxmike]

On 30/09/2023 at 12:48, Laurie Booth said:

To get rent guarantee it costs £20 a month, well worth it.

Still wouldn't stop the brothel, the Police visits, the upset neighbors, the damage done to the fabric of the house, etc etc. Apart from that a good idea!

[BoatinglifeupNorth]

1 hour ago, manxmike said:

Still wouldn't stop the brothel, the Police visits, the upset neighbors, the damage done to the fabric of the house, etc etc. Apart from that a good idea!

 Brothel, if that was me I’d be checking my property more often, say daily 😂🍆

[ditchcrawler]

46 minutes ago, BoatinglifeupNorth said:

 Brothel, if that was me I’d be checking my property more often, say daily 😂🍆

Mates rates

[Alan de Enfield]

56 minutes ago, ditchcrawler said:

Mates rates

 

[ditchcrawler]

4 minutes ago, Alan de Enfield said:

 

I knew someone would

[magnetman]

Floating brothels. There must be a few of them about but I guess people are a little circumspect around the marketing or recommendations.

 

A room with a view. Through the porthole. Tunnel adventures.

 

Endless possibilities cruising, moored or on the hard in winter getting wood for the fire. 

[ditchcrawler]

13 minutes ago, magnetman said:

Floating brothels. There must be a few of them about but I guess people are a little circumspect around the marketing or recommendations.

 

A room with a view. Through the porthole. Tunnel adventures.

 

Endless possibilities cruising, moored or on the hard in winter getting wood for the fire. 

Kate Safin did a play about one

[Laurie Booth]

Just now, manxmike said:

Still wouldn't stop the brothel, the Police visits, the upset neighbors, the damage done to the fabric of the house, etc etc. Apart from that a good idea!

The rent guarantee firm check out the tenants before they insure the landlord. So the odds are the landlord will get good tenants.