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  #1  
Old 10-15-2010
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Who needs real estate?

After a wonderful weekend in...well...where doesn't really matter as much as the fact that wife and I had an amazing weekend and really soaked in the locale. Enough so that when I got home, I fired up Trulia.com and tried checking out waterfront condo's in the region.

Real estate recession my hairy arse. $300,000 to $400,000 for something needing work. Not to mention property taxes, HOA dues, maintenance, etc!!!

But in my searching, I stumbled upon this. Boat slips/dockominiums are being sold. In Florida, these are going for $50k - $75k. Hmm.

Go over to yachtworld and see plenty of 40 ft+ boats out of charter for sub $100k. Even a couple of catamarans in the sub-$150k.


So, I'm thinking I can have waterfront "property" by way of purchasing a boat slip + a used charter boat and park it in my favorite little city on the ocean for around $150k.

Yes, dockominiums have quarterly dues in the $800 range...but that gets you laundry, water, pool access, as well as a dockmaster thats is so anal, he measures the levelness of the floating docks every morning.

Yes, boats will have maintenance...but then so do houses. Plus, I can usually do boat maintenance myself. I'm not so good replacing an A/C unit in a condominium or doing a kitchen remodel.

Wonder if I'm on to something....anyone try this idea. I've seen some dockominium threads...but this is the next level.
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  #2  
Old 10-15-2010
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Lots of people do this already....its a choice of lifestyle and what you can live with or without.

Personaly IMHO there is no comparison to home maintenance vs Boat maintenance and I think people that compare the two are fooling themselves..Boats are much more intencvive.

I have lived in my home for 16 years and have only painted once...Its about due again....never cleaned the gutters ( Leaf Guard) fixed 3 or 4 tolits , 2 focits . half dozen plunged drains, 1 wood stove chimney...several wall outlets and several light fixtures.

Not much in 16 years...and the place is not falling down around our ears either....Try that with a boat.

Yes I have to mow the lawn and weed the flower gardens but that is therapy for me some days...very rarely do I hate it....getting more acreage is like getting 2 footites with boats...its going to require more maintenance , more of your time and more money.

Both ways of life are a trade off...one just allows a change of address more easily. and a lot less taxes....But maintenance?...no comparison.

Real estate can be a joy or a pain to own just as a boat can be...I'm truly content puttering in my shop some days and antsy as all get out on the boat....some days its the reverse...Lord willing we'll keep both.
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The purchase price of a boat is just the admittance fee to the dance...you still have to spend money on the girl...so court one with something going for her with pleasing and desirable character traits others desire as well... or you could find yourself in a disillusioned relationship contemplating an expensive divorce.

Last edited by Stillraining; 10-15-2010 at 09:40 PM.
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  #3  
Old 10-15-2010
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I've lived in my house for 4 years...and in that time, these maintenance issues have come up. True, its an old house (1956)...but I see no difference in the monthly maintenance of a house and a boat.

Roof repairs - $2000
Window pane replacement - $500
Cutting grass/landscaping - $100 per month
Powerwashing - $200 each time...need to do this 2 times a year in FL
Dock piling repair - $1800
Dock staining/sanding - did this myself, but still $200 plus a weekend of time
Painting exterior of the house - $2800
Sinkhole formed in my front yard - $1200 for "pinning"
Driveway sealing/maintenance - $500 a year
Terrazzo repair - $800
A/C Service - $200 annually (and thats cheap)
Electrical work (lost fixtures and had dimming lights) - $1000
Endless *THOUSANDS* on permits and fees to the wonderful city and county I live in
PROPERTY TAXES - $4000 a year and thats down from $9000 when I moved in.


Boats just seem to have the same maintenance, but at least I can do the work mostly myself. Everything from bottom jobs to port replacements. With code enforcement so bizarre here...I have to hire out the work on my house.
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Last edited by night0wl; 10-15-2010 at 10:41 PM.
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Old 10-15-2010
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Quote:
Originally Posted by night0wl View Post
Cutting grass/landscaping - $100 per month
Good news: this is no longer an issue living on a boat.
Bad news: Mow your own damn lawn, you lazy ass mofo! And y'all wonder why there are so many illegal immigrants and an obesity problem. Make the connection.
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  #5  
Old 10-15-2010
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Quote:
Originally Posted by bljones View Post
Good news: this is no longer an issue living on a boat.
Bad news: Mow your own damn lawn, you lazy ass mofo! And y'all wonder why there are so many illegal immigrants and an obesity problem. Make the connection.
I would, but if you have large trees on your lot, you're required to get tree service once in a while so that they dont hit your utility lines. If I were to do that 1x a year as req'd, I'd get socked with a $2000 bill. If you get the monthly yard service, they usually "comp" you that by just taking care of it...but you pay $100 for then to show up 1x a month to take care of all landscaping.
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Old 10-15-2010
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Quote:
Originally Posted by night0wl View Post
I've lived in my house for 4 years...and in that time, these maintenance issues have come up. True, its an old house (1956)...but I see no difference in the monthly maintenance of a house and a boat.

Roof repairs - $2000
Window pane replacement - $500
Cutting grass/landscaping - $100 per month
Powerwashing - $200 each time...need to do this 2 times a year in FL
Dock piling repair - $1800
Dock staining/sanding - did this myself, but still $200 plus a weekend of time
Painting exterior of the house - $2800
Sinkhole formed in my front yard - $1200 for "pinning"
Driveway sealing/maintenance - $500 a year
Terrazzo repair - $800
A/C Service - $200 annually (and thats cheap)
Electrical work (lost fixtures and had dimming lights) - $1000
Endless *THOUSANDS* on permits and fees to the wonderful city and county I live in
PROPERTY TAXES - $4000 a year and thats down from $9000 when I moved in.


Boats just seem to have the same maintenance, but at least I can do the work mostly myself. Everything from bottom jobs to port replacements. With code enforcement so bizarre here...I have to hire out the work on my house.
LOL...My boat took on 14" of water water within 6 hours of a yard relaunching it after they worked on it....you want me to list that 68,000.00 bill out for you..

Its all relative as far as individual cases play out...but over the average you will find what I said to be true....also neglected maintenance on a piece of real estate will seldom kill you unlike a boats can..

Edit: Our post crossed.....Well its obvious you live in a high maintenance district compared to me...I guess in your case you need to compare apples to apples and come up with your own rational that works for you....Sounds to me like your not doing that..no doubt living aboard can be way cheaper then living on land....but any bum under a bridge lives cheaper still by owing nothing.

I was just showing you there is always another side to every coin.

We plan to do the 6 months on 6 months off thing....there is no retirement in my life.

FWIW..Our slip fees match or exceed our property taxes.
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"Go Simple...Go Large"

Relationships are everything to me..everything else in life are just tools to enhance them.


The purchase price of a boat is just the admittance fee to the dance...you still have to spend money on the girl...so court one with something going for her with pleasing and desirable character traits others desire as well... or you could find yourself in a disillusioned relationship contemplating an expensive divorce.

Last edited by Stillraining; 10-15-2010 at 11:25 PM.
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Old 10-16-2010
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Quote:
Originally Posted by bljones View Post
Good news: this is no longer an issue living on a boat.
Bad news: Mow your own damn lawn, you lazy ass mofo! And y'all wonder why there are so many illegal immigrants and an obesity problem. Make the connection.
Maybe he would just rather be out sailing. Sounds like you may have issues...
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  #8  
Old 10-16-2010
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Quote:
Originally Posted by night0wl View Post
Who needs real estate?
I am not trying to rain on your parade. Just point out a few facts.

1. Real estate is an investment, boat is not. In a long run, good location property will go up but boat will sink.
2. Property tax and interest are deductible and for boat, it may not depending how created your CPA is.

It is all business decision, I will let emotion out of the equation. If I want to have a toy for personal pleasure, let it be. There is no need to justify to anyone else including ourselves.
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  #9  
Old 10-16-2010
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Originally Posted by rockDAWG View Post
I am not trying to rain on your parade. Just point out a few facts.

1. Real estate is an investment, boat is not. In a long run, good location property will go up but boat will sink.
2. Property tax and interest are deductible and for boat, it may not depending how created your CPA is.

It is all business decision, I will let emotion out of the equation. If I want to have a toy for personal pleasure, let it be. There is no need to justify to anyone else including ourselves.

On the issue of #1, I would argue that the "investment" of a house hasn't worked out all that well for everyone lately. I agree a boat is never an investment that will appreciate, but a slip on the other hand can be.

In my area slips have increased 10X in price in the last 20 years. They leveled off a little in price the last couple years with the downturn of the economy, but more and more baby-boomers are buying boats as they retire and there aren't many more marinas being built. I think it speaks well to the investment potential of a slip that even with the massive downturn the slip prices didn't go DOWN but only leveled off their rate of climb in price.

I bought a slip within walking distance of the center of town, great access for the boat, great view, good community all for only slightly more than I would be paying to rent the slip. My boat is also not that expensive. Our "investment" plan is that in a couple years both the boat and the slip will be paid off and our expenses will be almost nil. Instead of paying a mortgage for 30 years we'll be pocketing that money for years to come.

Yes we love our waterfront condo...

MedSailor
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  #10  
Old 10-16-2010
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Quote:
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Yes we love our waterfront condo...

MedSailor
Does your slip ownership give you liveaboard rights?

Most do not and even if it does today there is a trend to revoke liveaboard status. Although usually they grandfather in the people already living aboard.

I love your idea and their is risk on-land also from eminent domain to psychotic neighbors. A slip is more like a condo than a lot of houses as you have common fees and very, very close neighbors and are subject to more and changing rules.
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