Is Now the right time?

[Dunworkin]

12 minutes ago, Arthur Marshall said:

If you're serious about extended cruising, then it's worth it. You need to be able to be flexible as there are a lot of stoppages these days, but as long as you're just cruising they don't matter much. I generally do about three months cruising a year which makes the boat worth the money, in my opinion, though it's been a close balance the last few years.

If the plan is to spend summer on the boat, plus a week or two at other times, and then back in the house over winter, I'd reckon its worth the money. and there will always be people to buy boats when you've had enough. Any loss financially you have to set against the enjoyment you've had. 

Can’t argue with you…

[Momac]

13 hours ago, Dunworkin said:

 It just worries me that we’re almost in the perfect storm of stresses on the canal network and now WW3 seemingly having already broken out. Are we being reckless in even considering this now? We’re 66 and 64 and if we don’t do this now we may have quite literally missed the boat for good. 

 

Now is a bad time to sell and therefore  a very good time to buy at  a good price due  to high fuel prices and the general gloom about the economy.

 

[Dunworkin]

1 minute ago, Momac said:

Now is a bad time to sell and therefore  a very good time to buy at  a good price due  to high fuel prices and the general gloom about the economy.

 

That had crossed my mind. There are some very nice boats on brokerage at the moment, which I thought would have gone in a flash, but maybe the market is stalling whilst the world holds its breath….perhaps we now have an opportunity…who knows.

[Peugeot 106]

12 hours ago, Dunworkin said:

wife has said “it’s now or never” a hundred times

I reckon it depends in part on who wears the trousers. Knowing when to sell (ie when you’ve had enough) can be the more difficult decision and the easiest to keep putting off. Selling can be far less fun than buying 

[Tam & Di]

I get a feeling that the OP has a "Yes, but" attitude, and whatever advice he gets to go ahead and buy he will come up with the "... but" which argues against it. Even though his wife wants him to go ahead and buy he seems to be looking for a way out of actually doing so.

[Dunworkin]

With respect you don’t know me from Adam, and aren’t in a position to make that comment…simply seeking some opinions that’s all…

[BoatingLifeUpNorth2]

26 minutes ago, Mike Coombes said:

 

My wife and I have just-albeit reluctantly due to a medical issue-retired from Ocean Cruising. We sold the Motorsailer and have bought a trad Steve Hudson 57. We are 77 and soon to be 79.

 

Get on with it-live is for living.

 

A truism I like, from Billy Connolly IIRC, is that you only regret that which you did not do.

 

And there you have it! Well put Arthur!

What boat did you buy, is it a Steve Hudson 😂😂

[Peugeot 106]

2 minutes ago, Dunworkin said:

With respect you don’t know me from Adam, and aren’t in a position to make that comment…simply seeking some opinions that’s all…

With respect since you’ve bared your soul on this forum I suspect we do know you from adam

[Dunworkin]

Then I suggest you shove your tiller arm somewhere where the sun doesn’t shine and keep your thoughts to yourself 

[brianthesnail96]

6 minutes ago, Dunworkin said:

Then I suggest you shove your tiller arm somewhere where the sun doesn’t shine and keep your thoughts to yourself 

 

Slightly bizarre response to a post where you have asked for people's thoughts! 

 

Given the nature of your initial post and most subsequent ones in this thread I'd suggest Tam & Di's post appears pretty much on the money. You wouldn't be asking the question otherwise... 

 

I imagine you've probably been married rather longer than me. However in the time I've been with my now wife I have learnt that if she says "we should do this" it's a good idea to do it 😁

[Momac]

26 minutes ago, Dunworkin said:

….perhaps we now have an opportunity…who knows.

Yes you do have an opportunity.

[roland elsdon]

A perfect storm led to us selling our boat, problems with our visa and residence, difficulties getting about in a 36 “ draft ex cargo boat, a cabin that was too small for year round living and  osteoarthritis. 
Add to that a year of drought and a canal system that sadly has become a housing association. So we gave up for the moment.

What can never be taken away is the 40 years of living on and owning a variety of old knackers ( sorry lovingly preserved vintage craft).

Those memories will go to the grave with us.

Boats are never sensible or logical decisions, the opportunity costs we lost were in the tens of thousands. So what.

Just do it. 
We are 9 months into this five year plan autumn is coming, so far its met every expectation.

But in five years who knows Ill only be 74 , I might want to stop travelling the world bike racing and go back to my 20s on a modern boat.

At our age opportunity is starting to diminish fast.

[Arthur Marshall]

39 minutes ago, BoatingLifeUpNorth2 said:

How much is your boat worth, a few thousand? Would you go and spend say £60K on a boat now and do the few month?

What my boat's worth isn't relevant, nor, if you've got the money, is the purchase cost. Money sitting in the bank is doing nothing for you at all, it's just making money for somebody else. So, you might just as well use it to buy something that will give you pleasure and enhance your quality of life.

Dropping dead with thousands in the bank, while you've missed out on having a bit more fun in your declining years (I speak personally, you understand, about the declining) that you could well afford, just seems daft to me*.

The purchase cost is an initial investment, some of which you will get back. It's whether you get value for the annual running costs that matters. A week's hire costs about a grand, so if you get more weeks on the boat than however many thousand your licence and mooring cost, you wind up ahead of the game. If you don't, then you're better off hiring.

In this case, the OP can obviously afford to buy and run a boat while keeping a house for when boating isn't possible. What's to lose in going for it?

 

*For the sake of balance and honesty, I must admit my wife has a different view.

[Dunworkin]

I asked for thoughts on boating, not uninformed comments on my attitude to, or ability to act on advice. Why do the captain Mainwairings who frequent these forums seem hell bent on perpetuating the reputation they have for this kind of comment

[BoatingLifeUpNorth2]

47 minutes ago, Dunworkin said:

We had our own 60 foot boat back in 2018, so we know exactly what’s involved. That size is perfect. I couldn’t bear to be the butt of boaters jokes if we hired a boat, and share ownership is too inflexible for us. I guess we’ll end up taking the plunge….

 Hire boaters aren’t the butt of decent boaters jokes. I’ve met lots whilst I’ve been out and most have been chatty decent people. You’ll meet a lot more boat owners that are up their own ar$e and think they’re something special. These are more of a joke boaters IMO.

[Chris Lowe]

Just now, BoatingLifeUpNorth2 said:

I couldn’t bear to be the butt of boaters jokes if we hired a boat

I've only ever hired boats, never owned one & have found everyone friendly & helpful, not taking the piss becuase you hire.

[Arthur Marshall]

1 minute ago, Dunworkin said:

I asked for thoughts on boating, not uninformed comments on my attitude to, or ability to act on advice. Why do the captain Mainwairings who frequent these forums seem hell bent on perpetuating the reputation they have for this kind of comment

Because some people are like that. Most of us aren't , we're just enjoying the discussion about the question.

[LadyG]

19 minutes ago, Dunworkin said:

Then I suggest you shove your tiller arm somewhere where the sun doesn’t shine and keep your thoughts to yourself 

Reported, goodbye Mr Newby. Try not to be abusive as it makes life a bit sadder all round

[Rob-M]

We were in the hiring camp, two or three times a year so ended up spending more on the hiring than keeping a boat so purchased our own 13 years ago.  Now about to start heading out on longer trips.  Having our own boat meant being able to work from the boat for periods of time and be flexible about when and where we go boating.

[Dunworkin]

10 minutes ago, Arthur Marshall said:

Because some people are like that. Most of us aren't , we're just enjoying the discussion about the question.

Thanks….appreciate your views

[Ex Brummie]

With all the talk about the cost of a boat and assets, I recall in 1989 when I bought my boat. In the interim times, I have encountered many who know to the penny what their boat has cost since purchase, what they consider it to now be worth. In all their sums, they never strike the balance of the benefits they have accrued during ownership.

I do not consider my boat as part of my future financial planning and accept that its monetary value is only what someone is willing to pay for it. When, and if, the time comes to sell, then I would look for a speedy sale rather than extracting the last penny, which in my opinion would be stressful at a time when you don't need stress. As long as the licence fees and upkeep are counterbalanced with the leisure benefits I see no need for the abacus.

[cuthound]

13 hours ago, Dunworkin said:

Just worries me that if the canal bubble really bursts and the network gets really bad, I don’t want to be part of a huge queue of people who can’t sell a narrowboat….i my be missing the point entirely, and my wife has said “it’s now or never” a hundred times. There again I suppose the decline would be gradual and not a cliff edge and we’d have time to react.

 

The network is not going to suddenly fail overnight.

 

As @Alan de Enfield says it is in managed decline. The most likely thing will be gradual abandonment if the sections that are non-essential , high maintenance routes, such as 2 out of the 3 cross pennine routes.

 

You will still be able to boat in and around the Midlands for longer than just about anywhere else simply because there are many popular cruising routes there.

[Tam & Di]

In our long boating life we have met several couples new to boating where it was the man who decided to buy a boat, and his wife with no previous boating experience went along with it but found she could not cope. You are different in that you have previous experience and your wife wants to get back on the water, so that is not a problem and it is seemingly you who has the reservations. If you are always thinking about how much you might lose if and when you sell it this is bound to affect your enthusiasm for the life, especially when dealing with the many problems that are certain to crop up if you go ahead.

[David Mack]

5 minutes ago, Tam & Di said:

If you are always thinking about how much you might lose if and when you sell it...

What would you do with that money in 10 or 15 years time if you don't buy the boat? And what would you do with the perhaps lesser sum of money you get from selling the boat in 10 or 15 years time? Will that difference make a material difference to your life? Or are you keen to maximise what you leave to your heirs? And would they want you to scrimp and save to increase their inheritance? Or would they want you to enjoy your retirement years?

[cuthound]

30 minutes ago, BoatingLifeUpNorth2 said:

 Hire boaters aren’t the butt of decent boaters jokes. I’ve met lots whilst I’ve been out and most have been chatty decent people. You’ll meet a lot more boat owners that are up their own ar$e and think they’re something special. These are more of a joke boaters IMO.

 

Twenty years ago most boat owners had been serial hirers or had a share in a shared ownership boat before eventually buying.

 

Today many new boat owners have never hired, they just want cheap accommodation.