Is boat living an expensive option?

[Ricco1]

My costs, 35ft boat, averaged over a year:

 

Licence £55/ month

Diesel £20/ month

Coal £20/ month

Insurance £15/ month

Gas £20/ month

 

That's it, £130 a month. I've left out maintenance, I've savings for that but if we allow a fairly generous figure of £70 a month I'm living for half the cost of just the rent of the cheapest place I could find, and that would be in a less than desirable area. I get to live in an area where you'd have to pay half a million for a house with the views I get.

 

This is just v renting of course. It's difficult to compare the cost of ccing v buying a house because a boat will inevitably depreciate wheras a house (not definitely but will very likely) appreciate.

[Ex- Member]

I suppose the depreciation in a boat could be assessed as rent.

 

TBH the devaluing aspect doesn't really bother us, we knew well that buying a boat wasn't the same as buying property, we're not choosing this life style to make money, however It allows us to semi retire though at a much earlier stage than we could ever do by remaining on land and owning a property. We consider that the relaxing way of life we have now is far more valuable than any increase in house price we might have gained if we chose to buy a house.

 

Personally I believe that being a slave to the mortgage companies and the tax man and having to work until you're 65 or even possibly more is more likely going to see you in a grave and not benefiting from any value you might have gained in house value. Even if you do live longer it's likely the government will take the majority of your properties value anyway to pay for your care, so yourself and kin end up with the best part of sod all anyway.

 

Bear in mind also that for every £100.000 borrowed on a mortgage you'll likely be paying back double that over 25 years.

 

Boating makes sense LOL

 

Edited March 20, 2014 by Julynian

[JDR]

In six years I've spent £8k on a'91 60ft boat which was structurally sound but needed updating, That figure includes new stove, calorifier,solar,gearbox and prop,three crane outs for blacking new bathroom and kitchen, total exterior repaint and front cratch led lights, smartgauge and more I've forgotten.At the end of which if I'm lucky I might get 90% of the original value back.I think it's the best money I've ever spent.

 

I'm sure with more experience I would have spent less and hopefully experience gained for the next one or for transferring the knowledge to an off grid setup on land.

[FadeToScarlet]

Not all boats depreciate. Mine is worth pretty much the same now as when it was built 79 years ago

[carlt]

 

455 square feet of loving space.

Now that is one Superkingsize bed.

 

How do you fit it on your boat?

[Paul's Nulife4-2]

I would like to think, (This almost makes me sound intelligent, as I know it's backed up by a recent valuation) That I have actually Made money in the 7 years I've had my current boat, I won't know how much until I sell It hopefully this year though.

I also made money on my last boat that I owned for 12 years well (all be it only £4800, ) But made money non the less.

I think there is a lot to be said for proving the boats achievements whilst it's been in your care.

If there was two similar boats for sale,of similar spec, But one had a Decent Cruising History 'maybe' that would sit better with a prospective buyer,and command a slightly higher price because of it. The Proven piece of mind sort of thing.

Edited March 20, 2014 by Paul's Nulife4-2

[Ex- Member]

I would like to think, (This almost makes me sound intelligent, as I know it's backed up by a recent valuation) That I have actually Made money in the 7 years I've had my current boat, I won't know how much until I sell It hopefully this year though.

I also made money on my last boat that I owned for 12 years well (all be it only £4800, ) But made money non the less.

I think there is a lot to be said for proving the boats achievements whilst it's been in your care.

If there was two similar boats for sale,of similar spec, But one had a Decent Cruising History 'maybe' that would sit better with a prospective buyer,and command a slightly higher price because of it. The Proven piece of mind sort of thing.

 

You've got me thinking now. When we went on the water last year we had to arrange insurance. Because the boat had been on dry land for some considerable time (Self fit out) they insisted on a valuation. The valuation came out 30k more than we think we've spent on the boat. Of course a valuation is just that, weather anyone would pay 80+ k for it is a different matter

[FadeToScarlet]

Now that is one Superkingsize bed.

 

How do you fit it on your boat?

65' by 7'. No room for anything else

[carlt]

65' by 7'. No room for anything else

If the boat's a rocking...

[FadeToScarlet]

If the boat's a rocking...

...then you've not enough ballast.

[carlt]

...then you've not enough ballast.

I imagine that amount of memory foam should weigh quite a lot.

[Paul's Nulife4-2]

 

You've got me thinking now. When we went on the water last year we had to arrange insurance. Because the boat had been on dry land for some considerable time (Self fit out) they insisted on a valuation. The valuation came out 30k more than we think we've spent on the boat. Of course a valuation is just that, weather anyone would pay 80+ k for it is a different matter

Thats exactly right, and sort of my point.

Now if YOU was the perspective buyer of your current boat, how much would you pay for it, That's it's 'Worth' to you. But to another person,because it's the wrong color,it's not 'Worth' that sort of money to them.

Obviously that's a rhetorical question,

But if when it goes up for sale,you can produce a number of Independent valuations, And a service History, And a Cruising history ect ect then,Maybe it will command the better price than a similar craft that's got a Tree growing through it's scuppers.

Edited March 20, 2014 by Paul's Nulife4-2

[Ex- Member]

Thats exactly right, and sort of my point.

Now if YOU was the perspective buyer of your current boat, how much would you pay for it, That's it's 'Worth' to you.

Obviously that's a rhetorical question,

But if when it goes up for sale,you can produce a number of Independent valuations, And a service History, And a Cruising history ect ect then,Maybe it will command the better price than a similar craft that's got a Tree growing through it's scuppers.

 

True we do have and kept good records of construction and the build progress, they're actually on here mostly as a blog.

 

Not even thinking of selling though, it's just too nice living on the cut.

[Paul's Nulife4-2]

It is a gorgeous Boat you've got there,and as I've already said,a great Blog.well done.

Now sit back and enjoy the efforts of your Labours, I have it on good authority the Summer is coming.

Edited March 20, 2014 by Paul's Nulife4-2

[Ex- Member]

It is a gorgeous Boat you've got there,and as I've already said,a great Blog.well done.

 

Cheers Paul

Much appreciated!

[wullie]

We have been waiting years to live on the cut, not because cheaper option but the way of life it will bring, if i was to sit in house it would drive me mad, i want to enjoy my retirement and this is the way we see our life going, at present we are looking to sell our house to purchase a boat,with the remainder and with little savings we have we should make it work, maybe CCing or maybe in a home mooring for first year we dont know yet, it has been a long time coming but ready to take the plunge to a better way of life than i would ever imagine years ago, so bring it on we are ready for the ups and downs, having just turned 60 i want ensure i do this before i am to old to enjoy this way of life.

We have been waiting years to live on the cut, not because cheaper option but the way of life it will bring, if i was to sit in house it would drive me mad, i want to enjoy my retirement and this is the way we see our life going, at present we are looking to sell our house to purchase a boat,with the remainder and with little savings we have we should make it work, maybe CCing or maybe in a home mooring for first year we dont know yet, it has been a long time coming but ready to take the plunge to a better way of life than i would ever imagine years ago, so bring it on we are ready for the ups and downs, having just turned 60 i want ensure i do this before i am to old to enjoy this way of life.