Old enough to know better
Join Date: Dec 2006
Location: Beacon, NY
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Re: I am 26, and seriously considering moving aboard with my girlfriend. Any advice?
I don't understand the financial side.
If you have a 100g to buy a boat it seems like that would make a good down payment on a house. If you have to borrow the money it probably will not work out due to live-aboard and insurance and repair issues.
If you have 100k but no income you will need to save a significant piece of your inheritance for lots and lots of expenses you may not have thought of yet.
You came to a sailing enthusiasts site but indicate you really would prefer a house.
Do you like sailboats or are you just looking for a cheap place to live.
If the latter a powerboat would give you more room a condo even more room.
Based on your brief question we don't have enough information to give you any useful advice.
If he is in Toronto I can understand thinking 100,000 is cheap. I don't understand Canadian real estate prices, they seem un-sustainably high. I watch some of the Canadian home shows and think $750,000 for that? I would not want to be buying real estate in Canada right now.
Sorry, let me add a little more. Eventually, yes we would like a house, but we'd like to take 6 or 7 years and liveaboard and cruise the lakes. I am fairly handy and would do many repairs on my own. We would take out a loan to finance the boat, but hopefully pay it off within 7 years, then, we would either sell and use that money towards a house, or continue living aboard. I already sail a 29' Bayfield and love it, and would like to try living aboard for awhile but the 29' cannot support us happily aboard.
I think the Bayfield should work for a while, I say just move aboard, it is not like you will likely be able to just sell it quickly anyway. They are pretty spacious boats for the size. Lots of people living on less, and you have it already.