Depreciation on second hand boat during current market

[Ange]

I find myself very frustrated by the attitude of my immediate family to my recently acquired, rather old second hand, semi tradit narrowboat. The attitude seems to be I have to be a total wally (there's an old fashiond word ) for not buying a house. Needless to say I can't really afford a house anyway.

My family won't have anything to do with it. They've not even seen it for that matter yet the boat has been through a full survey and all survey advice has been heeded and acted upon.

Sure, if I take the most pessimistic view possible, maybe in time I'll lose money but not a great deal of money. Much depends how you look after a boat. If you haul the boat for regular blacking, invest in your boat and take good care of it, it should give years and years of pleasure (and is also still cheaper than living in a house (and easy to move away from annoying neighbours).

Yes, now is a good time to buy a second hand boat. Have a survey done of the hull as that's the main thing. Be prepared to have to spend on an older boat to meet the BSS but otherwise it's a new way of living and a real adventure.

Hi Fortunata

I'm sorry your immediate family haven't given you more support in you venture - I've followed your posts from very early on and you have taken a cautious, sensible approach to buying your first narrowboat. I hope your family change their view in the summer when they've had the opportunity to enjoy the canals without paying somewhere in the region of £1000 per week for the privilege.

 

The savings in hire holidays has to be taken into account (if you've fallen in love with the canals as we did and would spend this money if you didn't buy a boat).

 

We are lucky enough to have family who have embraced our adventure and join us on the boat whenever they can (though the muddy towpaths at the moment put them off a tad!)

 

I wish you all the best.

[FORTUNATA]

Thanks. I have no regrets at all and suspect the whole lifestyle will suit me as I'm fairly rough and tumble by nature. I'm looking forward to taking the German Shepherd aboard too as I'll bet he'll love chugging along the canal. My family won't change their spots, though, I'm afraid but I have some friends who are very keen on the idea and may also buy a boat.

 

Hi Fortunata

I'm sorry your immediate family haven't given you more support in you venture - I've followed your posts from very early on and you have taken a cautious, sensible approach to buying your first narrowboat. I hope your family change their view in the summer when they've had the opportunity to enjoy the canals without paying somewhere in the region of £1000 per week for the privilege.

 

The savings in hire holidays has to be taken into account (if you've fallen in love with the canals as we did and would spend this money if you didn't buy a boat).

 

We are lucky enough to have family who have embraced our adventure and join us on the boat whenever they can (though the muddy towpaths at the moment put them off a tad!)

 

I wish you all the best.

[chris w]

I'm looking forward to taking the German Shepherd aboard too ..........

 

No need for hostages. Peace was declared in 1945

[FORTUNATA]

The war was why they were called Alsations. People ask me, "Is that an Alsatian or German Shepherd?" Either name will do and both long haired and black and tan are still the same GSD. What I like about this one is he just seems to think I have all the answers so just follows my lead and, therefore, I figure if I don't really have all the answers I'd better find them fast.

 

 

No need for hostages. Peace was declared in 1945

[estwdjhn]

There is a massive difference between buying a boat as a financial asset, and buying a boat as a home. Anyone who regards a narrowboat as a good asset to invest in needs their head examining. If however a boat replaces renting a flat, then it can make a lot more financial sense. I worked out that if I stick with my boat for five years, then scrap it or give it away I will be better off than if I had rented on land for the same time. I rather hope that she will still be worth something in five years. With a boat this old, condition is king, so a lot of that will be down to how well I look after her.

[FORTUNATA]

The painful part is shelling out money. Lots of old boats are successfully overplated. After that, regular hauling and blacking as well as anode replacement should add many more years to the boat's life span. If you've saved up for the proverbial rainy day then you can get the base reshoed and back into the water.

Now myself I always worked night shifts so I'm hoping when I move onto the boat I won't have to put up with people drilling roads outside or car alarms going off.

 

There is a massive difference between buying a boat as a financial asset, and buying a boat as a home. Anyone who regards a narrowboat as a good asset to invest in needs their head examining. If however a boat replaces renting a flat, then it can make a lot more financial sense. I worked out that if I stick with my boat for five years, then scrap it or give it away I will be better off than if I had rented on land for the same time. I rather hope that she will still be worth something in five years. With a boat this old, condition is king, so a lot of that will be down to how well I look after her.

[david and julie]

Tush, tush.................. I'll be contacting the mods about remarks like that

 

tush (STUPID)

exclamation OLD USE

used to say that something is stupid or not true

http://dictionary.cambridge.org/define.asp...4&dict=CALD

 

I will leave it for others to decide whether I've said anything stupid or untrue here.

Is there a reason why members of this forum have to tolerate this bigheaded loadmouthed gobs****s offensive remarks???

 

Wasn't a pleasant remark I made was it, the main difference between my remark and yours though is that I'm replying to an unpleasant person so it becomes more acceptable to lower myself to their level. You on the otherhand used your usual childish and uncalled for vitriol against a more placid member purely because you see them as an easy target.

 

This behaviour may be acceptable to people like you but personally I doubt it is acceptable to the quiet majority on this forum. Just bear in mind Chris that hounding the like of Terry off the forum over technical issues is one thing. Bullying and badgering oldstanding and respected members is a whole different bag of fish and one that will provoke a more robust response.

 

Personally I think you should re-read your comments and edit them accordingly then hopefully I will then be able to do the same.

 

There are limited numbers of contributing members on here don't try to drive more of them away.

 

btw, feel free to moan and grumble to the mods about me anytime you like.

[Liam]

I've already been made aware of this and have taken action so this one can be dropped now please.

[chris w]

.................. uncalled for vitriol against a more placid member purely because you see them as an easy target.

If you think that I only pick on "easy" targets, you are sadly mistaken. How do you think we got rid of that TerryL t*sser? Even Gibbo and I have locked horns on a number of occasions and I would consider neither of us "easy". (You have to buy him a drink first ). I notice you don't mind running to me with "Oh thank you, thank you Chris for your advice", when it suits you, though I can detect the smell of burning hypocrisy where you're concerned................ you're pretty free with dishing out the dirt when it suits you.

[sueb]

If you think that I only pick on "easy" targets, you are sadly mistaken. How do you think we got rid of that TerryL t*sser? Even Gibbo and I have locked horns on a number of occasions and I would consider neither of us "easy". (You have to buy him a drink first ). I notice you don't mind running to me with "Oh thank you, thank you Chris for your advice", when it suits you, though I can detect the smell of burning hypocrisy where you're concerned................ you're pretty free with dishing out the dirt when it suits you.

Please remember that one persons 'tosser' is a person as well and ha every right to post. I find posts talking of 'getting rid of people' sad.

Sue

[blackrose]

Please remember that one persons 'tosser' is a person as well and ha every right to post. I find posts talking of 'getting rid of people' sad.

Sue

 

Yes, but all the same I'm glad Terry Hell was got rid of!

 

Let's not take these little spats too seriously - life's too short. Merry Christmas everyone!

Edited December 24, 2008 by blackrose

[david and julie]

If you think that I only pick on "easy" targets, you are sadly mistaken. How do you think we got rid of that TerryL t*sser? Even Gibbo and I have locked horns on a number of occasions and I would consider neither of us "easy". (You have to buy him a drink first ). I notice you don't mind running to me with "Oh thank you, thank you Chris for your advice", when it suits you, though I can detect the smell of burning hypocrisy where you're concerned................ you're pretty free with dishing out the dirt when it suits you.

Don't bring Gibbo into it Chris, he wasn't the nasty person - you were.

 

I don't doubt that I do thank people who give me time and advice, thats just old fashioned good manners though and nothing whatsoever to do with hypocracy. The facts are that had you not been so downright rude I wouldn't have passed comment.

 

Best wishes to you and your family for Christmas and New Year Chris - and stop being a nasty sod.

Let's not take these little spats too seriously - life's too short. Merry Christmas everyone!

Exactly - Best wishes to you too Mike.

[andywatson]

I find myself very frustrated by the attitude of my immediate family to my recently acquired, rather old second hand, semi tradit narrowboat. The attitude seems to be I have to be a total wally (there's an old fashiond word ) for not buying a house. Needless to say I can't really afford a house anyway.

My family won't have anything to do with it. They've not even seen it for that matter yet the boat has been through a full survey and all survey advice has been heeded and acted upon.

Sure, if I take the most pessimistic view possible, maybe in time I'll lose money but not a great deal of money. Much depends how you look after a boat. If you haul the boat for regular blacking, invest in your boat and take good care of it, it should give years and years of pleasure (and is also still cheaper than living in a house (and easy to move away from annoying neighbours).

Yes, now is a good time to buy a second hand boat. Have a survey done of the hull as that's the main thing. Be prepared to have to spend on an older boat to meet the BSS but otherwise it's a new way of living and a real adventure.

 

With house prices falling the way they are currently, a boat may be a good way to avoid negative equity and a very sensible alternative to a house.

 

I wouldn't be surprised to find the value of my house has fallen more than the total cost of the boat.

[carlt]

Please remember that one persons 'tosser' is a person as well and ha every right to post.

Wise words.

 

Regardless of their opinions!

[david and julie]

I wouldn't be surprised to find the value of my house has fallen more than the total cost of the boat.

We put our house on the market last February because we now want something smaller,lovely bungalow with land in a sought after area, in total four peope have been round and non had sold their own house. I estimate our house is now worth at least £100K less than when it went on the market and even than it probably wouldn't sell.

 

The boat cost £50K 3 years ago.

Edited December 24, 2008 by david and julie

[blackrose]

We put our house on the market last February because we now want something smaller,lovely bungalow with land in a sought after area, in total four peope have been round and non had sold their own house. I estimate our house is now worth at least £100K less than when it went on the market and even than it probably wouldn't sell.

 

Hang on I thought property couldn't go down? That's what I kept hearing over the past 10 years.

 

Did anyone see 'The Ascent of Money' on Ch.4? Very interesting series - the one on property especially so.

[oconnjoe]

Hey Guys, I know I'm late to the party but it looks like there's possibly another recession on the cards and wonder whether there is still anyone from the old thread which can remember how the boat market fared during the last recession? 

 

My situation is that I'm currently renting and looking at buying a boat.

 

*Therefore my question is simply, does any one remember what happened to narrow/wide beam boat prices before, during and after the 2008 housing crisis?* 

 

If anyone has a source of data, that would be much appreciated as I cant seem to find much at all!

 

Cheers,

 

Joe!

[Alan de Enfield]

13 minutes ago, oconnjoe said:

Hey Guys, I know I'm late to the party

 

Only 12 years, but good question.

 

I forecast that whilst there may be a recession coming (following from the cost of C19) boat prices will remain very high as the world will change and international travel will be much reduced, resulting in more UK holidays. There will always be money for holidays.

 

In the last 30+ years of boat ownership (18 boats) I have only ever lost money on one boat. 'Buy right' and 'sell right'.

[Ally]

Boats seem to be selling like hotcakes this year, at all levels, new and "pre-loved", judging by a couple of boat sales I know of personally which went for top price, and the clammer of people asking for boats on the fb sites, who keep getting either gazumped, or go to view, to find it sold a couple hours earlier.

Recession doesn't seem to be having a massive effect just now, restricted holiday travel seems to be having the effect.

 

Perhaps if routes open up again,  there will be an influx of hastily bought boats returning to the market at lower prices.

 

Wish I was still building at the moment!