House sale gone boating?

[snappyfish]

I have some savings which could get me a buy to let and still afford a boat I think that might be a nice idea to gain some income.

 

I notice some people state they have sold there house and moved onto a canal boat. But has any one gone buy to let?

Edited May 28, 2016 by snappyfish

[Lady Muck]

Thats a lot more sensible if you ask me. Yes quite a few do it.

[magictime]

I have some savings which could get me a buy to let and still afford a boat I think that might be a nice idea to gain some income.

 

I notice some people state they have sold there house and moved onto a canal boat. But has any one gone buy to let?

 

We haven't done it yet, but we plan to. Although we're leaning towards a holiday cottage - or on our budget, more likely a cheap seaside flat - rather than a simple buy-to-let; we figure that might dovetail nicely with boating in that the property would be rented out from April to October-ish, but vacant over the winter for us to use ourselves if living aboard becomes too much like hard work.

[Ray T]

Snappyfish you have a PM.

[ditchcrawler]

 

We haven't done it yet, but we plan to. Although we're leaning towards a holiday cottage - or on our budget, more likely a cheap seaside flat - rather than a simple buy-to-let; we figure that might dovetail nicely with boating in that the property would be rented out from April to October-ish, but vacant over the winter for us to use ourselves if living aboard becomes too much like hard work.

Who is going to do cleaning and turn rounds when you want to be boating?

[roland elsdon]

Live on boat rent room in house on rent a room scheme , keep control and its tax free, and you can walk into house anytime.. However requires normal mortgage or outright purchase. Just let your tenant know when your coming back, and pay your share of council tac

[sueb]

We kept a room in our house and had lodgers. It worked a treat and when we unexpectedly had to move off the boat we moved in with our lodgers. To our suprise they stayed with one staying till we all moved out. He wanted to be sure we were ok.

[grannykins]

We will be renting out our house when we move onto a boat. Have to use a letting agent though, as we will be cruising and not available to sort any issues out.

[magictime]

Who is going to do cleaning and turn rounds when you want to be boating?

 

Hopefully we could rely on a letting agent to handle that sort of thing. There are companies that specialise in holiday properties. No doubt they'd take a significant chunk out of our profits, but then so would a letting agent for a normal buy-to-let.

 

 

Live on boat rent room in house on rent a room scheme , keep control and its tax free, and you can walk into house anytime.. However requires normal mortgage or outright purchase. Just let your tenant know when your coming back, and pay your share of council tac

 

Now that's another idea we really need to investigate...

[Neil Smith]

We have a plan for when I retire in a few years time, I have a large house with land and stables and my other half has a house she rents out and will continue to do so, I plan to sell mine and buy a couple of smaller ones or some flats to rent out aswell. We will then move aboard and CC for a few years to see the whole system, well that's the plan at the moment health permitting.

 

Neil.

[mark99]

Good luck but don't forget what gives God the biggest laugh. When people start making plans. Do it.

[snappyfish]

We have a plan for when I retire in a few years time, I have a large house with land and stables and my other half has a house she rents out and will continue to do so, I plan to sell mine and buy a couple of smaller ones or some flats to rent out aswell. We will then move aboard and CC for a few years to see the whole system, well that's the plan at the moment health permitting.

 

Neil.

Sounds like a good plan.. Good luck to you

[ditchcrawler]

 

Hopefully we could rely on a letting agent to handle that sort of thing. There are companies that specialise in holiday properties. No doubt they'd take a significant chunk out of our profits, but then so would a letting agent for a normal buy-to-let.

 

 

 

I did look into it and the percentage they wanted made it a none runner.

[OldGoat]

Over on another boaty forum (YBW) there are folks who have BTLs through letting agents and there are some challenging tales. Quite often the letting agents do little and pass the problems - which are many - back to the owner.

 

That's manageable if you can go and fix the issue or who have good contacts who can fix things for a reasonable price.

My point is that if you're CCing managing the property is 'quite difficult'......

[snappyfish]

Over on another boaty forum (YBW) there are folks who have BTLs through letting agents and there are some challenging tales. Quite often the letting agents do little and pass the problems - which are many - back to the owner.

 

That's manageable if you can go and fix the issue or who have good contacts who can fix things for a reasonable price.

My point is that if you're CCing managing the property is 'quite difficult'......

Yep, I could imagine it being difficult if CCing But also no different to having buy to let property and living far away from it? If you have responsibility you have responsibility like anything in life..

 

so anyone on this forum currently involved in buy to let while CCing?

Edited May 31, 2016 by snappyfish

[magictime]

Over on another boaty forum (YBW) there are folks who have BTLs through letting agents and there are some challenging tales. Quite often the letting agents do little and pass the problems - which are many - back to the owner.

 

That's manageable if you can go and fix the issue or who have good contacts who can fix things for a reasonable price.

My point is that if you're CCing managing the property is 'quite difficult'......

 

I'm sure that's true, but the alternatives seem worse. I'm not going to own a property and leave it standing empty, and I'm not going to step off the housing ladder completely and lose my only realistic route to a post-liveaboard life without mortgage payments or rent to worry about.

[boathunter]

A long term rental might be the answer. I know someone who lives in USA and has rental property in Aus. The tenants get a good rent in return for looking after the place. She still pays for work done, but the tenants oversee anything that needs doing. Tenants won't necessarily trash the place and take the pee.

 

I have a friend who is slowly renovating the property he rents in return for 1/2 price rent.

 

I think you might find there are decent renting people out there who seek some security and will play ball in return for not having to move every year.

[Loafer]

We have a plan for when I retire in a few years time, I have a large house with land and stables and my other half has a house she rents out and will continue to do so, I plan to sell mine and buy a couple of smaller ones or some flats to rent out aswell. We will then move aboard and CC for a few years to see the whole system, well that's the plan at the moment health permitting.

 

Neil.

 

 

My money is on you not completing the whole system! You'll like somewhere a lot, meet some new friends, and keep coming back, like we do! Best of luck though.

 

Yep, I could imagine it being difficult if CCing But also no different to having buy to let property and living far away from it? If you have responsibility you have responsibility like anything in life..

 

so anyone on this forum currently involved in buy to let while CCing?

 

Yep. Haven't seen the place in 4 years. Well-managed for 10% of the rent, good communications and digital photos sent regularly. They have dealt with an oven failure, heater failures and a boiler leak that needed £1500 of new carpets. Thank you, God!