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Decent cheap areas to buy property as fail safe before living on a boat


thomask130

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10 hours ago, bastonjock said:

ive got more than 100k ,im looking at a residential mooring this week

So.... Have you got £100k in cash to invest in something like stocks and shares, a small flat, peer to peer lending, or similar, in order to generate an income and, in addition, you have got enough to buy a wide beam and residential mooring? Well over £200k in total, maybe £300k plus?

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7 hours ago, Richard10002 said:

So.... Have you got £100k in cash to invest in something like stocks and shares, a small flat, peer to peer lending, or similar, in order to generate an income and, in addition, you have got enough to buy a wide beam and residential mooring? Well over £200k in total, maybe £300k plus?

yes something along those lines , I do have investments , and if I like and buy the mooring im looking at , I can continue to work ,its not a stressfull job either 

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This is an interesting thread.....i too have had a chunk of savings alot of which i put into the boat leaving me a small sum of between 10 and 20k left. Now we own a good 200k in equity in our property which is worth about 300k so i have been wondering if buying a holiday let would be the best way to go as a live aboard over a rental property.....i worry if we rented our house out it would get trashed......or costly things could go tits up. Yes i know that could happen in a holiday let too......i think holiday lets would earn more per month if you could fill the property a reasonable amount of time.....any experience of this anyone....

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8 minutes ago, bastonjock said:

one of my other concerns is, what will happen when Brexit bites ? if our east European friends decide to head home , that will create a hole in the buy to let market

I dont think that will happen. Alot of eastern europeans are settled here now and have roots.....

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3 hours ago, Matt&Jo said:

This is an interesting thread.....i too have had a chunk of savings alot of which i put into the boat leaving me a small sum of between 10 and 20k left. Now we own a good 200k in equity in our property which is worth about 300k so i have been wondering if buying a holiday let would be the best way to go as a live aboard over a rental property.....i worry if we rented our house out it would get trashed......or costly things could go tits up. Yes i know that could happen in a holiday let too......i think holiday lets would earn more per month if you could fill the property a reasonable amount of time.....any experience of this anyone....

Your holiday let will only let during.... “holidays” :) and can just as easily be damaged/trashed, or require an expensive repair, as a long term let.

 

Overall income v expenditure could be similar, but with a long term let you only have the aggro of finding a tenant once every so often, rather than ever week or two.

 

 

Edited by Richard10002
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Yes i think that is valid but for me a crucial point is.... the house may be vacant some of the year so if we get a piticularly harsh winter then i can flit between holiday home and boat maintaining both and get the best of both worlds......although ive been home a fee days and want bk onto the boat to be honest lol

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14 hours ago, Matt&Jo said:

This is an interesting thread.....i too have had a chunk of savings alot of which i put into the boat leaving me a small sum of between 10 and 20k left. Now we own a good 200k in equity in our property which is worth about 300k so i have been wondering if buying a holiday let would be the best way to go as a live aboard over a rental property.....i worry if we rented our house out it would get trashed......or costly things could go tits up. Yes i know that could happen in a holiday let too......i think holiday lets would earn more per month if you could fill the property a reasonable amount of time.....any experience of this anyone....

It's been a while since I looked into this, but as I recall, holiday lets generally end up being occupied no more than half the year, and obviously you've got the costs of cleaning and laundry in between each booking, plus Council Tax, so I think it's far from certain that one would make you more money than a normal rental property of the same value.

 

But of course you're right that a holiday let might make sense if you wanted the option of staying there yourself during the winter, when you'd expect it to be standing empty anyway.

 

With £200k to spend, you could even be buying a holiday let and a rental property - the latter giving you a steadier income and the former being available for your own use part of the year. 

 

For rental properties at least, I think it's probably fair to say you'd expect a better rate of return from two cheaper places than one expensive one. Our rental flat has just been valued at £75000 or £475 a month, so a 7.5% return; a house costing twice as much to buy around here would be worth maybe £625 a month in rent, so a 5% return.

 

 

Edited by magictime
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1 hour ago, Alan de Enfield said:

"Profitable" & "Boat" rarely go together, and never with a new boat.

 

The one notable exception is if you are trading them (buying and selling). In which case some pretty big mark-ups can be achieved if you buy cheap enough.

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2 hours ago, Mike the Boilerman said:

 

The one notable exception is if you are trading them (buying and selling). In which case some pretty big mark-ups can be achieved if you buy cheap enough.

 

It's a halfway house (boom boom?), but if the chap really is "buying a mooring", a bit of land attached with access etc (as opposed to some kind of long term lease), then that's the nearest thing to a boat that'll appreciate value over time. I'd say they're not making any more land, but the Chinese seem to have that issue fixed. 

 

Some affordable moorings on rivers and broads actually, so long as it's not London or with a mansion attached......

 

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