Reply
 
Thread Tools Display Modes
 
Old 12-03-2014, 09:59 AM   #61
Senior Member
 
Retriever's Avatar
 
City: Seattle, WA
Country: USA
Vessel Name: Safe Harbour
Vessel Model: Nordic Tug 37
Join Date: Apr 2014
Posts: 191
Fascinating thread with many valid perspectives.

I bought my current boat when I was 24 specifically to liveaboard and cruise the PNW. At 24 my financial situation is different. I should have lots of years to make more money BUT the money I spent on the boat would have grown nicely in those same years.

Whether it's a boat or a house or a condo, I'd need some place to live. None of it is free. If I'd bought a house/condo I would have spent at least twice what I did on the boat. I don't view residential real estate as a particularly good investment, but I think long term it's fair to expect to break even once inflation/taxes/maintenance etc. are taken into account. I view the boat as a depreciating asset (and did my calculations assuming the boat is worth nothing when I sell), but the boat is also much less expensive than a house. So I might lose a high percentage of what I put into the boat, but that will hopefully earn roughly as much on money that I invested because I didn't buy a house/condo.

So instead of selling the farm, I just never bought it. I do have ownership interests in commercial real estate. Owning real estate (especially when it's cashflow positive) certainly makes me feel more comfortable financially about living aboard.

My decision to live aboard was really more about lifestyle than finances, though. I figured I had the money, I hadn't yet collected all the "stuff" or gotten used to a large house, and was single...what better time to liveaboard? So far, so good...I put 600 hours on the main engine the first year, took a bunch of family and friends to see glaciers and bears and whales in SE Alaska, met lots of really nice, interesting people...yeah, I wouldn't trade it for land life.
__________________
Advertisement

Retriever is offline   Reply With Quote
Old 12-03-2014, 10:51 AM   #62
TF Site Team
 
ksanders's Avatar
 
City: SEWARD ALASKA
Country: USA
Vessel Name: LISAS WAY
Vessel Model: BAYLINER 4788
Join Date: Feb 2011
Posts: 3,956
Quote:
Originally Posted by psneeld View Post
It is really not that bad. After my first divorce I was homeless anyway, so the boat was a good fit.

After my second divorce, I had 4 homes and several financial liabilities not of my doing that drove me to near bankruptcy during the banking/housing collapse in 2009. So a major life change and cheap place to live was in order.

Building back was actually easier and the boat has given me the flexibility to go south in the winter. So a good fit again.

I have lost more money on every house I ever owned to live in than any of the 3 boats I have lived on. So I'm not sure why it is scary unless it is about loss principle (which can be solved) or moving from an area and if you lost some money would be forever priced out of (maybe not fixable) and not able to move back.
I have to say that the situation you faced is all to common today and having a boat large enough to comfortably live on provides a good amount of security that men generally do not get these days.

Case in point. A guy I worked with split with his wife. I asked him later how it was.. He told me that the only really bad part was being a 40 something year old guy living in an apartment and starting with basically no household goods. He said that he has no "drama" in his life anymore and otherwise loves it. If that guy would have had a nice boat, well...

My admiral commented in a half hearted question... "If I kicked you out, it probably wouldn't bother you would it?"

I thought about it and told her No, except for the loss of our relationship, it would not bother me at all. I told her that I would be free from the burdens, and the expense of "normal" life. At one point I told her that I'd be in Ensenada, sipping a margarita in the harbor by Thanksgiving.

So, when I say I would not "sell the farm" I'm really saying WE would not sell the farm. If it were me alone, well...
__________________

__________________
Kevin Sanders
Bayliner 4788
Seward, Alaska
www.mvlisasway.com
ksanders is offline   Reply With Quote
Old 12-03-2014, 10:52 AM   #63
Guru
 
Alaskan Sea-Duction's Avatar
 
City: Inside Passage Summer/Columbia River Winter
Country: USA
Vessel Name: Alaskan Sea-Duction
Vessel Model: 1988 M/Y Camargue YachtFisher
Join Date: Jul 2012
Posts: 3,155
Quote:
Originally Posted by Larry M View Post
In 1997 we sold the house, our 1981 Mainship and a piece of property. We bought a 42.5 sailboat and sold or donated everything except 6 boxes of treasures (well we thought they were at the time). We left the US with idea of going for 3-5 years or for as long as we were still having fun. We returned to the US in 2005. In 2006 we sold the sailboat moved back to the PNW and Lena went back to work. Four months later she asked if we could find another boat. Bought Hobo and left the US for another 4+ years. I just had my right knee replaced 2 months ago so that has slowed us down a little but we're planning on leaving again in the late winter/early spring.

What scares us is living on land. Our lives are very simple living on the boat. No cable TV or cell phone contracts. We own no real estate, have an 5 x 8 storage locker for more treasures and have owned a car (s) for less than 4 years out of 14. Health insurance has been easy as has the banking/mail forwarding. Selling the farm isn't for everyone but heck you can always go back and buy another one.
Yep I would agree that living on our boat has made life simpler. I like that and look forward to retirement so I can break away from land and explore. I am now living the dream instead of just dreaming it....
__________________
1988 M/Y Camargue Yacht Fisher
Alaskan Sea-Duction
MMSI: 338131469
Blog: http://alaskanseaduction.blogspot.com/
Alaskan Sea-Duction is offline   Reply With Quote
Old 12-03-2014, 10:57 AM   #64
Guru
 
Alaskan Sea-Duction's Avatar
 
City: Inside Passage Summer/Columbia River Winter
Country: USA
Vessel Name: Alaskan Sea-Duction
Vessel Model: 1988 M/Y Camargue YachtFisher
Join Date: Jul 2012
Posts: 3,155
Quote:
Originally Posted by ksanders View Post
I have to say that the situation you faced is all to common today and having a boat large enough to comfortably live on provides a good amount of security that men generally do not get these days.

Case in point. A guy I worked with split with his wife. I asked him later how it was.. He told me that the only really bad part was being a 40 something year old guy living in an apartment and starting with basically no household goods. He said that he has no "drama" in his life anymore and otherwise loves it. If that guy would have had a nice boat, well...

My admiral commented in a half hearted question... "If I kicked you out, it probably wouldn't bother you would it?"

I thought about it and told her No, except for the loss of our relationship, it would not bother me at all. I told her that would be free from the burdens of "normal" life.

So, when I say I would not "sell the farm" I'm really saying WE would not sell the farm. If it were me alone, well...
Been there done that. My Admiral would rather fish, than breath, so her and I are a good match. I am re-doing my house battery system and when we discussed the money part, she asked, do we need it? yep. Then go for it! I am a very lucky man, but I had to go through the above twice before I learned...
__________________
1988 M/Y Camargue Yacht Fisher
Alaskan Sea-Duction
MMSI: 338131469
Blog: http://alaskanseaduction.blogspot.com/
Alaskan Sea-Duction is offline   Reply With Quote
Old 12-03-2014, 11:47 AM   #65
Guru
 
psneeld's Avatar
 
City: Avalon, NJ
Country: USA
Vessel Name: Freedom
Vessel Model: Albin 40
Join Date: Oct 2011
Posts: 15,920
Quote:
Originally Posted by ksanders View Post
I have to say that the situation you faced is all to common today and having a boat large enough to comfortably live on provides a good amount of security that men generally do not get these days.

Case in point. A guy I worked with split with his wife. I asked him later how it was.. He told me that the only really bad part was being a 40 something year old guy living in an apartment and starting with basically no household goods. He said that he has no "drama" in his life anymore and otherwise loves it. If that guy would have had a nice boat, well...

My admiral commented in a half hearted question... "If I kicked you out, it probably wouldn't bother you would it?"

I thought about it and told her No, except for the loss of our relationship, it would not bother me at all. I told her that I would be free from the burdens, and the expense of "normal" life. At one point I told her that I'd be in Ensenada, sipping a margarita in the harbor by Thanksgiving.

So, when I say I would not "sell the farm" I'm really saying WE would not sell the farm. If it were me alone, well...
...amazing when you whittle many TF posts down to brass tacks where they wind up.

For me...after moving 40 times in 40 years..from the time I left for college till I moved aboard this boat....I think I could live anyplace in almost anything and not suffer...well the snow cave routine I did for a weekend wasn't all that great.

Add starting financially over one and a half times from divorces and walking away with no house or household goods to speak of...dear personal belongings pretty much fit into any car's back seat. So for me it was easy and after living aboard 2X before, the 3rd time I knew was going to be better cause I could buy just big enough to be happy and there were no serious obligations on the horizon except who will pay the undertaker someday...

So it's a little harder for me to see why people are worried about something like selling the "only" farm...and most of my friends even with nice boats fit that category...but there's almost always an easy solution to most concerns.
psneeld is offline   Reply With Quote
Old 12-03-2014, 12:39 PM   #66
TF Site Team
 
ksanders's Avatar
 
City: SEWARD ALASKA
Country: USA
Vessel Name: LISAS WAY
Vessel Model: BAYLINER 4788
Join Date: Feb 2011
Posts: 3,956
Quote:
Originally Posted by psneeld View Post
...amazing when you whittle many TF posts down to brass tacks where they wind up.
For the most part I think guys are different, and I'll guarantee that single guys are different.

That and the fact that for much of my career I have not slept at home for half the year anyway, because I've worked at remote oilfields I just do not have the strong ties to "the farm" that the wife has. To her its her nest, her rock, her security.

If it were only me, and I hope it never is, I might not "sell the farm" but I certainly would not live on it either.

If you look at this thread there are a few married couples advocating their happiness with no land ties, but far and away I think that guys are more inclined than gals to be happy "forever" on a boat.
__________________
Kevin Sanders
Bayliner 4788
Seward, Alaska
www.mvlisasway.com
ksanders is offline   Reply With Quote
Old 12-03-2014, 06:39 PM   #67
Guru
 
Insequent's Avatar
 
City: Brisbane
Country: Australia
Vessel Name: Insequent
Vessel Model: Ocean Alexander 50 Mk I
Join Date: Mar 2012
Posts: 1,426
I finally got around to reading the article, and mostly agree with it. The point about where are you going to live when you can't manage the physical aspects of a dock/boat etc are key. By all means go for it while your health is good, but have some kind of plan B that is better than selling the boat. Almost certainly you will be way short of capital if you take that path.

Earlier this year I downsized, bought a smaller house for half what I sold the large one for. This move was to give my twin daughters a home for a few more years and to be a storage place for tools and stuff I want to keep that just will not fit on the boat. And I effectively have a small apartment downstairs as well. I'm living there more than on the boat at present, but that is about to be reversed. I dont think it will be where I will live when the girls are married and I eventually sell the boat, but it works as a placeholder in the market.

I bought my first house in 1980, it cost $48k and we only put in $10k for the purchase. Since then we bought and renovated 5 houses, spending over $730k on renovations, doing a lot of the work ourselves. In total we have cleared $2m in profits. That has paid for the current cottage, boat, refit and lots of other stuff. Real estate has been good to me, I will always have a piece of it.
__________________
Brian
Insequent is offline   Reply With Quote
Old 12-03-2014, 07:02 PM   #68
Guru
 
High Wire's Avatar
 
City: Cape May, NJ and Englewood, FL
Country: USA
Vessel Name: Irish Lady
Join Date: Dec 2007
Posts: 1,602
My wife and I agreed on a 2 year trial period when we decided to buy our trawler. After that something is getting sold. Could be the house, could be the boat. I do know that I can't afford to keep this spending rate up more than 2 years.
__________________
Archie
1984 Monk 36 Hull #46
Englewood, FL and Cape May, NJ
High Wire is offline   Reply With Quote
Old 12-03-2014, 07:14 PM   #69
Guru
 
psneeld's Avatar
 
City: Avalon, NJ
Country: USA
Vessel Name: Freedom
Vessel Model: Albin 40
Join Date: Oct 2011
Posts: 15,920
Heath is everything about living aboard...but by no means a show stopper.

Living on my boat is just as easy as any apartment, condo or house.

Working on it isn't...but then again working on many houses at the same point of not being able to work on a boat can be pretty close.

Only a fool would not plan on going ashore at some point, but even a fool can plan for it.
__________________

psneeld is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





All times are GMT -5. The time now is 05:01 AM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012