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Old 08-29-2018, 06:07 PM   #41
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When it comes to living on a boat, I can only speak for Seattle. You can live on a 30’ boat, shower on shore, do laundry down the street, and hike to your car vs living in a studio apartment with laundry in the basement and a spot for your car 200 feet from your door. The boat is cheaper but then you could live in a tent next to the ocean locks and save even more money.

It’s really hard to do an apple to apple comparison. The closest you can get is a 50’ boat with 2 state rooms and laundry vs a 2 bedroom apartment. After you buy, maintain, and sell the boat, it will have been cheaper to rent the apartment. Moorage on a fifty foot boat is almost equal to a 1 bedroom apartment.

In Seattle nothing has been cheaper than buying property and riding the 15% annual increase in values. Those who bought a boat instead of a condo or house have lost big time in value.

I will always own a boat, living on it instead of investing in a house gave me more money to invest in apartments that make me money. I would be better off financiallyto live in one of my own apartments, I’d just rather spend more and live on my boat.
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Old 08-30-2018, 08:55 AM   #42
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You might find a better suited boat for the same money but a completely refitted boat with new engines and wall to wall furnishings? We should all know what that costs and a boat this size would come in higher even @ 15-20 years old.


Cant honestly say why someone would do it but the idea that it's overpriced has been mentioned which is not the case.
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Old 08-30-2018, 09:12 AM   #43
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You might find a better suited boat for the same money but a completely refitted boat with new engines and wall to wall furnishings? We should all know what that costs and a boat this size would come in higher even @ 15-20 years old.


Cant honestly say why someone would do it but the idea that it's overpriced has been mentioned which is not the case.
Totally agree. This boat is NOT overpriced. It's a steal. But I think the biggest hurdle for a buyer is the fact that she's still 50 years old....hard to gloss over that fact.
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Old 08-30-2018, 09:37 AM   #44
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Let’s all wait to see if the owner can find someone to “steal” it.
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Old 08-30-2018, 09:37 AM   #45
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For a boater like myself, it would be much more cost effective to live aboard than to live on land. A boater that lives on land will always own a boat therefore will have expenses on both house and boat. If my wife and I decided to move aboard, we can either rent or sell our house and our monthly outlay will be reduced significantly.
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Old 08-30-2018, 09:57 AM   #46
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For a boater like myself, it would be much more cost effective to live aboard than to live on land. A boater that lives on land will always own a boat therefore will have expenses on both house and boat. If my wife and I decided to move aboard, we can either rent or sell our house and our monthly outlay will be reduced significantly.
Entirely different comparison. Yes, living on a boat is often less expensive than a land home plus a boat.

To the original point, we don't buy boats to save money. We do so to boat. We may then try to justify it by financial calculation and may occasionally find it can be done.

It's a bit like we chartered the year before purchasing so by comparison I guess we could say we purchased to save money. Now, a couple of problems with that. First, chartering was expensive and doing nothing would have been far cheaper. Second, ownership doesn't really save us much if anything over chartering. It would if we only had one boat. We just prefer it.
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Old 08-30-2018, 10:17 AM   #47
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Entirely different comparison. Yes, living on a boat is often less expensive than a land home plus a boat.

To the original point, we don't buy boats to save money. We do so to boat. We may then try to justify it by financial calculation and may occasionally find it can be done.

Sure! We consider our boat a toy. If however one chooses boat living with the idea of cost savings, those savings should be compared to living quarters of equal size. It takes a very big boat to provide similar square footage and amenities offered by most apartments, townhouses and cottages.
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Old 08-30-2018, 02:39 PM   #48
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Totally agree. This boat is NOT overpriced. It's a steal. But I think the biggest hurdle for a buyer is the fact that she's still 50 years old....hard to gloss over that fact.


A fifty year old hull might be more robust than a new one. And a Monk hull to boot.
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Old 08-30-2018, 03:51 PM   #49
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It’s really hard to do an apple to apple comparison. The closest you can get is a 50’ boat with 2 state rooms and laundry vs a 2 bedroom apartment. After you buy, maintain, and sell the boat, it will have been cheaper to rent the apartment. Moorage on a fifty foot boat is almost equal to a 1 bedroom apartment.
.
You keep saying renting an apartment but why?
You don't rent the boat you buy it so apple to apple comparison is to buy the apartment.

I just had a look at downtown 2 bedroom Seattle apartments with water views and it seems around $1.5 million is the going rate.
To get closer to us, 3 bedroom 2 bathroom is $2mill.

That's the same sort of comparison I did, boat with same or better view for a fraction of the cost.
We anchor, never use a berth so an additional $1500/mth in front again.
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Old 08-30-2018, 03:54 PM   #50
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A fifty year old hull might be more robust than a new one. And a Monk hull to boot.
Add in the $600k refit and $85k paint and its arguably a new boat
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Old 09-01-2018, 10:29 AM   #51
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Rubbish.
Plenty of people buy and live on boats because it is considerably more affordable than the land based alternative.
Simi,

You make a good point, but it's not about the cost savings of the land based alternative. It's about life style, and that's true for the boat or the dirt house. Neither are investments, they are both expenses.

We expect a return on an investment, and invest to make money so we can spent it on things that bring us more pleasure than the money. We shouldn't expect to profit from our houses and toys. Just decide on how many dollars can give xxxx pleasure and spend accordingly.

Spend baby, spend.
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Old 09-01-2018, 11:57 AM   #52
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Simi,

You make a good point, but it's not about the cost savings of the land based alternative. It's about life style, and that's true for the boat or the dirt house. Neither are investments, they are both expenses.

We expect a return on an investment, and invest to make money so we can spent it on things that bring us more pleasure than the money. We shouldn't expect to profit from our houses and toys. Just decide on how many dollars can give xxxx pleasure and spend accordingly.

Spend baby, spend.

A house is not an investment? Have you spent any time looking at how unaffordable they have become for many? Now compare a home’s price to how affordable a 15-20 year old boat can be.
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Old 09-01-2018, 01:17 PM   #53
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Homes can be either

Just depends....

Made a ton of money when flipping homes, lost money on every bought home I have lived in (4 in all).
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Old 09-01-2018, 02:30 PM   #54
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Home prices do cycle although the general price slope is upwards. When I built my current home the cost was 1/10th its present value. And sure, it came with expenses for things such as mortgage payments, taxes, water bills and maintenance. Without home ownership, I would have a stack of worthless rent receipts to show for my money spent.

We also own income property where the expenses have always been less than the rents collected. Today those units are mostly mortgage free. They are a gift that keeps on giving. No way, no how does habitable property where I live depreciate in value. This is true for most of the country.

Now lets consider if a boat holds or increases in value.

The unfortunate thing about housing costs today is so many, especially the younger population find the prices unaffordable. The problem is getting worse.
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Old 09-01-2018, 03:36 PM   #55
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Homes can be either

Just depends....

Made a ton of money when flipping homes, lost money on every bought home I have lived in (4 in all).
Houses as income properties or flipping can be investments. However, I can't think of the home we live in as an investment. The value is apparently higher than what we paid, but that benefits us in no way since we have no intent to sell. All it does is increases our property taxes.
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Old 09-01-2018, 03:54 PM   #56
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Financial publications have run the numbers and in some cases, wise investing and frugal living actually beat a lot of home ownership based on averages And I don"t mean tiny houses.

What I read mentioned the switch came around the 1980s . Wise investing for the average person became easier, plus investing started to outpace the past"s steady climb in housing and land prices .
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Old 09-01-2018, 03:56 PM   #57
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Houses as income properties or flipping can be investments. However, I can't think of the home we live in as an investment. The value is apparently higher than what we paid, but that benefits us in no way since we have no intent to sell. All it does is increases our property taxes.


Really! Should one consider a stock purchase not to be an investment because it is not yet sold?
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Old 09-01-2018, 04:10 PM   #58
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Financial publications have run the numbers and in some cases, wise investing and frugal living actually beat a lot of home ownership based on averages And I don"t mean tiny houses.

What I read mentioned the switch came around the 1980s . Wise investing for the average person became easier, plus investing started to outpace the past"s steady climb in housing and land prices .

Sure, there are places one can invest that have a much higher return than homes. That however does a not mean that a home when sold and provides a greater return than cost was not an investment. And of course, people purchase homes to live in not to make money but nobody lives forever and homes do get sold.

Now lets consider if a boat holds or increases in value.
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Old 09-01-2018, 04:15 PM   #59
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Really! Should one consider a stock purchase not to be an investment because it is not yet sold?
But stock is available for sale and one day will be sold. Our home is one we intend to keep forever.

Also, while our home value is up, by the time you add in expenditures and costs of maintaining and taxes and insurance, it's not a good investment. People get excited about the increased value in their homes and overlook what they have spent.
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Old 09-01-2018, 04:17 PM   #60
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but nobody lives forever
Wifey B:

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