Average costs of land living to boat living

[kthoennes]

Some threads on TF are of huge practical value - how to change impellers. Other threads are just for browsing, like people-watching on a busy street corner. This is the latter. Still interesting, but just random data points. I live in an absurdly huge house, and it's nearly tripled in likely market value since we bought it 13 years ago - and the taxes have doubled. Ridiculous. Our boat would conservatively sell for double what we paid seven years ago (captive market, not normal) but absurd even so. And then our annual boat cost is almost exactly the same as our home mortgage now (principle and interest, not counting taxes and insurance). And our annual slip fees have doubled in three years.

All random data points.

 

[Delta Riverat]

face it

Owning a boat AND a home (renting or owning) at same time is a poor use of money.

I must be a poor money manager.

I like both. Land and sea. Not one or the other. Both -

 

[kthoennes]

God has richly blessed our family with a beautiful house and a great boat at the same time. Not a "poor use of money."

 

[SteveK]

I must be a poor money manager.

I like both. Land and sea. Not one or the other. Both -

DR, your post is wasted, Don has left the building. Well done BTW.

I can not really believe how this thread has gone. This will be a first for me, a thread I started that I am going to unscribe from and then place on ignore.

 

[PierreR]

DR, your post is wasted, Don has left the building. Well done BTW.

I suspect that Don has thicker skin than he is portraying.
He is frustrated at the direction this thread has gone but he did not direct or suggest the direction he wanted the thread to go in his original post. Had he done so, he probably would have gotten the results he wanted. Instead, he put of what amounts to a blank baited statement. The results are this thread.

 

[mvweebles]

I suspect that Don has thicker skin than he is portraying.

He is frustrated at the direction this thread has gone but he did not direct or suggest the direction he wanted the thread to go in his original post. Had he done so, he probably would have gotten the results he wanted. Instead, he put of what amounts to a blank baited statement. The results are this thread.

I get a chuckle out of people who get miffed about thread drift. I have to wonder if they think there's a Blue Book exam of thread comprehension.

OP has been frustrated since the earliest part of this thread. First he didn't get enough attention. Now it's too much of the wrong kind. He's been posting this stuff for 84 months (7 years!!!). You'd think he'd get the hang of it by now.

Peter

 

[Slo-Mocean]

Simi60 has his living situation down pat. A good example if so inclined and okay with full time anchoring out.

The one flaw in his reasoning is he only uses purchase price in equation. Ignores salvage/resale value. Not sure how long he's owned his boat, but let's say 7 years and has $200k USD into it. Today, he might get $150k after a lengthy listing period (all guesses. No idea actual market).

Suppose instead he bought a condo 7 years ago for $200k. Probably worth $600k or more today.

Granted, last seven years has seen extraordinary appreciation in housing. But as a general rule, housing is a good savings account for most people.

That said, I sure appreciate Simi's perspective. It's rare but deserves consideration.

Peter

As I know your most likely aware of the large appreciation of your primary residence is only usable if you don't want to move from an apple to an apple.

Our house in Michigan has only doubled in price in 15 years because it is located in a rural area in upper lower Michigan while our Naples Florida condo has quadrupled in 12 years . Property taxes and heating cost around 5000 more a year at Michigan house .

We can't afford to upgrade to a different condo development in Naples with out adding another $200,000, a house would be another $300 for a house needing another 150-200 thousand in it to update.

Than insurance on a house is now a fortune. Our old 1300sq house 1/2 mile from the beach i bought for 60thousand in 1994 and lightly remodeled and sold 5 years later for 130 is now valued at 850 thousand and the insurance would be 10 thousand a year .

Kids will never own a home unless they have good jobs or work smart with their money and learn how to fend for them selves . My good friends in Michigan helped their twin daughter's buy houses after they graduated college and got jobs, and that was a fight as there was bidding wars on available homes . Dad helped renovate and both daughters have 2 paying room mates , non of their friends are close to owning as prices have gone up so much in the last 3 years.

 

[kthoennes]

Yep -- I'm in a house I couldn't afford now, and a boat that would cost a pile more than I'd ever want to spend, with more work done on it than I'd ever want to do again. Good thing I greatly enjoy those two assets because I certainly couldn't recreate them now.

 

[Slo-Mocean]

God has richly blessed our family with a beautiful house and a great boat at the same time. Not a "poor use of money."

As my good friend said who brought his 42 Silverton down from Michigan to happily live aboard in Fort Myers beach after his divorce.

"I Blew most of my money on booze, broads and boats and wasted the rest" .

 

[Simi 60]

Simi60 has his living situation down pat. A good example if so inclined and okay with full time anchoring out.

The one flaw in his reasoning is he only uses purchase price in equation. Ignores salvage/resale value. Not sure how long he's owned his boat, but let's say 7 years and has $200k USD into it. Today, he might get $150k after a lengthy listing period (all guesses. No idea actual market)

And the $200k US is almost double the real spend due to exchange rates in 2016
I'n Oz bucks including immediate upgrades so we could launch and live totally off grid was near enough to $150aud so $108 usd.

We stole her well and truly during the buy and when we sell her I'll be a realist as the way I see it she owes us nothing.

Suppose instead he bought a condo 7 years ago for $200k. Probably worth $600k or more today

.

There was not much in Australia in 2016 for $150 aud unless buying in small towns and even then, slim pickings

We bought and built in the regionals 10 years earlier and cashed out over the last 2 years, zero debt and war chest full.

2016 in the capitals was more a $500,000 play for anything half decent

We still have our late 90's capital city house in play, unencumbered and rented out.

Granted, last seven years has seen extraordinary appreciation in housing. But as a general rule, housing is a good savings account for most people.

For sure
But here the gains you mention have been seen in the capital cities, not so much in regionals
2016 in the capitals would have been a $500,000 AUD buy in at that time or $360,000 USD
And while the price now in AUD would be $750k the USD now would be $474k usd

Exchange rates and timing

That said, I sure appreciate Simi's perspective. It's rare but deserves consideration


Peter

Thanks

 

[GrandWood]

Loads of nice fixer uppers all along the Canadian border from Montana to Maine below 40k, hehe.

 

[Simi 60]

Loads of nice fixer uppers all along the Canadian border from Montana to Maine below 40k, hehe.

Yep, nice fixer uppers here for similar coin
Oh wait........

https://www.realestate.com.au/property-house-nsw-moree-143258064

 

[Serene]

Yep, nice fixer uppers here for similar coin
Oh wait........

[SNIP]

I stayed overnight in Moree last year on the way from Sydney to Central Queensland and would never go back. Even at $40k that is too expensive, even if renovated!

 

[SteveK]

As I know your most likely aware of the large appreciation of your primary residence is only usable if you don't want to move from an apple to an apple.

Our house in Michigan has only doubled in price in 15 years because it is located in a rural area in upper lower Michigan while our Naples Florida condo has quadrupled in 12 years . Property taxes and heating cost around 5000 more a year at Michigan house .

We can't afford to upgrade to a different condo development in Naples with out adding another $200,000, a house would be another $300 for a house needing another 150-200 thousand in it to update.

Than insurance on a house is now a fortune. Our old 1300sq house 1/2 mile from the beach i bought for 60thousand in 1994 and lightly remodeled and sold 5 years later for 130 is now valued at 850 thousand and the insurance would be 10 thousand a year .

Kids will never own a home unless they have good jobs or work smart with their money and learn how to fend for them selves . My good friends in Michigan helped their twin daughter's buy houses after they graduated college and got jobs, and that was a fight as there was bidding wars on available homes . Dad helped renovate and both daughters have 2 paying room mates , non of their friends are close to owning as prices have gone up so much in the last 3 years.

Forgive my sense of humor. I immediately thought "trailer park over looking the homeless camp"

 

[Simi 60]

I stayed overnight in Moree last year on the way from Sydney to Central Queensland and would never go back. Even at $40k that is too expensive, even if renovated!

Forgive my sense of humor. I immediately thought "trailer park over looking the homeless camp"

And that's what most are missing

I am making like for like comparison
2 to 3 bedroom comfortable house or appartment with water view vs same in comfortable boat with same quality of living.

Not comfortable boat vs dungheap miles from water overlooking a toxic waste dump

 

[Alexandria]

What’s a budget?

?? Classic. Very funny and so true.
I don't remember that class in school either ?

 

[DavidU]

Greetings,
Apologies but this came to mind...

I must say, I'm new here, but I think it's awesome how reading the paying of respects and acknowledgements of Simi 60's thoughts, as being sometimes off the beaten path, but very knowledgeable and worthy of consideration, prompted me to look up previous posts and threads he was involved in. This particular post drones on and on with many of the usual suspects chiming in, which is great by the way. Then, as is frequently the case, RT Firefly, posts something that literally makes me laugh out loud. LOL! Simi 60's wake, obviously, continues to ripple to shore. I think most of us would be happy with a ripple effect to those we know and love, and those we never thought might be affected.