It depends on how long you plan to sail the boat. If you're just wanting a boat for a one-year sabbatical cruise, and don't plan on keeping her beyond that, it really doesn't make much sense to buy a new boat. The depreciation hit alone could buy a fairly decent size older boat outright.
If you're open to the idea of living aboard and thinking of going cruising long term at some point, selling the house and buying the boat outright, not financing it, might make more sense.
If you're not sure about what your long-term plans are, rent the house and buy an older boat that you can buy outright... then you have no continuing payments on the boat and can use the income from renting the house to finance your sabbatical and any maintenance on the boat.
My top 2 choices for a blue water boat to do a 1 year sabbatical cruise in the caribbean are a Hylas 46 or 49 and a Halberg Rassey 45 or 49. I know both are great boats. We own our house (no mortgage) and my first thought was to buy one of these boats with a 15-20% down payment and then let the rent from our house pay "most" of the payment on the boat. We would use our savings to sail for a year and if we enjoy ourselves and want to do more, simply live on the boat continue to rent the house and save for another 6 mos to 1 year trip. This seems like a pretty good plan to me.
Or should I sell the house and simply live on the boat. The downside to this is, we no longer have a house to return to and WE pay for the boat instead of the person renting our house.
Any feed back is welcome.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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