SailNet Community - Reply to Topic

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum > Living Aboard > House or Boat?
 Not a Member? 


Thread: House or Boat? Reply to Thread
Title:
  

By choosing to post the reply below you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Message:
Trackback:
Send Trackbacks to (Separate multiple URLs with spaces) :
Post Icons
You may choose an icon for your message from the following list:
 

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Click here to view the posting rules you are bound to when clicking the
'Submit Reply' button below


Additional Options
Miscellaneous Options

Click here to view the posting rules you are bound to when clicking the
'Submit Reply' button below


Topic Review (Newest First)
11-04-2011 08:21 PM
creedence623 [QUOTE=Minnewaska;793611]

The average tenant will treat it as semi-disposable, so do not expect to get it back in the same condition you left it. I've found the best way to keep the tenant from soing outright stupid things is to be sure you keep it in great shape. Everything should work and be proper and clean. As soon as they see you let something slip, they will double the bet.


QUOTE]

That's my biggest concern. There's a chance I won't have to rent it assuming our savings are where I want them this time next year. We'll see how it plays out. Worst case, I think the benefits of taking the year outwiegh the thought of someone damaging the house (though I hate the thought of that).
11-04-2011 07:17 AM
Minnewaska Congratulations. Getting away for a leave ia on our radar prior to retirement, which is at least a decade off. I would have to manage some responsibilities from afar (internet, sat phone, etc), but hope to be able to at some point.

I've moved so much that I have rented a prior house along the way. In fact, I rented one for about 10 years (back in the last real estate crash). Be very careful.

The average tenant will treat it as semi-disposable, so do not expect to get it back in the same condition you left it. I've found the best way to keep the tenant from soing outright stupid things is to be sure you keep it in great shape. Everything should work and be proper and clean. As soon as they see you let something slip, they will double the bet.

If you're away, be sure to have someone that will manage the property and has a checkbook to fix things.

Hope you have a great cruise !!
11-04-2011 06:54 AM
emoney Glad to hear that was the decision. I didn't weigh in a year ago, but that's the advice I would've given. Keep at it and fair winds.
11-04-2011 06:10 AM
creedence623 Hey guys, I just noticed this thread kept rolling after I left it a little over a year ago. I want to thank everyone for their input. I enjoyed reading all of the thoughful, reasoned responses; and have pulled a few good considerations from them even after the fact.

Just to close the loop, we ended up building a house in Florida (prices were VERY attractive, and we capitalized on the low interest rates), and we are now keeping the boat at a great marina nearby.

The folks who said the operating costs of a home were high were certainly not joking. Interest, insurance, property tax, landscaping service, utilities, etc, etc, etc can certainly take a toll (not to mention the operating costs of the boat as well); but all in all I am pleased with the decision.

I am happy to say that this is not the end of the story though. Beginning next month we are going to begin the process of downsizing, and getting things in order for a year's leave of absence in the Caribbean.

The house will go up for rent beginning Nov 2012, the first of our vehicles is getting sold next month (doesn't get much use anyway), furniture and personnal effects will go into storage, and we'll go from there. Right now I am working on a rough itinerary, routing, and am in the middle of outfitting the boat for longer-term cruising.

While it's not the "all or nothing" answer I thought we'd be living by this stage, it's a pretty solid compromise. I'm hoping we use this opportunity to reassess our priorities, and enjoy some MUCH needed decompression.

Thanks again.
10-13-2011 06:10 PM
ewoden Count me in for supporting the boat now. You are young and now is the time to test your mettle and the relationship with your spouse regarding living aboard. It isn't for everybody and may not be for your spouse after experiencing it for a while. Better to know that up front and deal with it then wait decades, build up the wealth, properties, etc. and find your pay-off dream dashed on the rocks of an unwilling spouse. Or worse, face the financial and emotional torment of pursuing your dream at the expense of shedding/losing a spouse. Look around, there a plenty of boats up for sale in the Carib. that are monuments to a failed trial period, and there lots of now single folks who lost the significant other in pursuit of a late in life dream.
10-13-2011 01:11 PM
ppiccolo1 My opinion, only you can answer your question. You have to be true to yourself and what you want out of life, versus what society, family, friends, think you ought to do. I spent many years in corporate america, owned a couple of businesses, and two homes. I was only ever really happy on my limited time off doing what I do now full-time. I don't miss cleaning rooms I never used, 6 day work weeks, or car payments. I had the money to travel, but only could get away long weekends. Now, my cars a little older, I cook my steak and crab legs myself and buy $7 wine and it's the PERFECT life for me. My family however, thinks I've gone insane.... so, be true to yourself, you only get one turn at this. At your age and family situation, you have the time and flexibility to figure what that is out, you just have to go after it.
09-23-2011 11:45 AM
apogee1mars When your young the sky is the limit. Go live on a boat it is really a wonderful lifetime experience. Very few things that you do in your life you will remember with clarity. The years of your life living on a boat will be remembered and larger than life when the story is being told. As you grow older and find out that there is something to say about throwing a ball to your dog, planting some flowers, the smell of the house on turkey day, sitting in the hot tub, a big comfortable chair in which to fall asleep while watching a movie with a nice 7.1 system. You may even change your mind on the kid thing. It is funny, you never realize that are things in the world that you love more than yourself. If you ever have a child in your life, yours, adopted, neighbors, whatever it will dawn on you why you are really here. This is one heck of a ride, there are no instructions.
05-20-2010 12:50 AM
JiffyLube While I can understand and agree with your point of view, I'll have to disagree with the view that the right piece of real estate is not a good investment. You're quite correct that market timing is very important in all investments, that is why I earlier suggested to not wait more that 2 or 3 years in real estate. I could be wrong since I don't own a crystal ball, but I believe this market recovery is going to take awhile this time around, especially considering what is now going on in Europe. The right real estate is a good investment bought at the right time for the right price, and even though you never completely own the property as you point out, taxes and repairs/improvements should be considered as a cost of doing business. I don't think you have to be lucky with market timing in real estate, if you spend some time understanding what is going on in that market. Historically real estate goes through boom and bust periods, with the boom almost always longer than the bust. Booms generally run for about 7 to 10 years, and busts generally last a 2 or 3 years. One key indicator to be watching is what percentage of the population can afford real estate, or how affordable is real estate to the population. If the affordability starts decreasing, then that is a tip off that the market is reaching for the top. Saying that, I think this time around the bust is going to break the norm, and appreciation is going to be slow for some years to come...but this can be a good thing. The upside to slow appreciation is it makes real estate ownership more affordable to the masses, and a good time to get into real estate before the market starts to take off again. Notice that I talk about real estate investing as an investment, not in the vein of making a home. Turning the investment into a home that you own forever will not make you any money, except if it can be rented out at a profit when not being used.

I'm completely on board with your plan to be a live aboard, but I see nothing wrong with investing at the right time in the right vehicle.

Quote:
Originally Posted by eryka View Post
Given this info, buying a house makes even less sense: why would you want an investment that isn't guaranteed to do better than anything else, that's hard to liquidate on your schedule, and then factor in closing costs at both sides??? And don't believe the "you need a tax deduction" hype: even if you're in the top income bracket, you get back what, a third of the money you spent on interest? The other 2/3 went to the bank and made THEM money, not you. If you're only going to be in a location for 3 years you're very early in the mortgage; look at the amortization schedule and you'll realize almost NONE of the money you spent on payments goes against principal. That means that you won't have accumulated any savings in the house. I still believe that the only way to make money on a house (greater than the rate of inflation long-term) is to be extremely lucky with market timing, or to invest a lot of sweat equity. This from someone who has bought and sold about a dozen houses, moving whereever Uncle Sam sent us (and that meant we had the added bonus of all our closing costs being covered as part of the relocation package) and owning a kitchen-bath remodel business so we had the inside track on the sweat-equity "investments." Now living on the boat for the past 8 years and we have far far more disposable income than we ever did in the house. Also more free time to play instead of mowing the lawn and cleaning leaves out of the gutters.

That you're asking the question may be it's own answer. Live on the boat, enjoy the boat! Buy the house ONLY when there's no question in your mind that you really, really, want to own a house because it suits your lifestyle at the time...but not as an investment, not because it's the thing you "should" be doing now.
05-19-2010 07:27 AM
eryka
Quote:
Originally Posted by bljones View Post
"the program" is only in your own mind. Who cares what the 20something sheep are doing? Are you really worried about getting behind the establishment curve or missing out on some great suburban opportunity?

You know what the number one cause of midlife crises is? Following "the plan" in your 20s, and waking up one morning and realizing just how much life you missed out on.

Do it, do it, do it, do it, do it NOW!
Succinct, elegant, articulate ... I gave you a rep point for this.
05-19-2010 07:25 AM
eryka
Quote:
Originally Posted by creedence623 View Post
As for the house... I am going to hold off on making that decision until we move stateside (in about 3 years). In the mean time we are going to take the advice of the majority here and make our lives what we want them to be without regard to "the program".
Given this info, buying a house makes even less sense: why would you want an investment that isn't guaranteed to do better than anything else, that's hard to liquidate on your schedule, and then factor in closing costs at both sides??? And don't believe the "you need a tax deduction" hype: even if you're in the top income bracket, you get back what, a third of the money you spent on interest? The other 2/3 went to the bank and made THEM money, not you. If you're only going to be in a location for 3 years you're very early in the mortgage; look at the amortization schedule and you'll realize almost NONE of the money you spent on payments goes against principal. That means that you won't have accumulated any savings in the house. I still believe that the only way to make money on a house (greater than the rate of inflation long-term) is to be extremely lucky with market timing, or to invest a lot of sweat equity. This from someone who has bought and sold about a dozen houses, moving whereever Uncle Sam sent us (and that meant we had the added bonus of all our closing costs being covered as part of the relocation package) and owning a kitchen-bath remodel business so we had the inside track on the sweat-equity "investments." Now living on the boat for the past 8 years and we have far far more disposable income than we ever did in the house. Also more free time to play instead of mowing the lawn and cleaning leaves out of the gutters.

That you're asking the question may be it's own answer. Live on the boat, enjoy the boat! Buy the house ONLY when there's no question in your mind that you really, really, want to own a house because it suits your lifestyle at the time...but not as an investment, not because it's the thing you "should" be doing now.
This thread has more than 10 replies. Click here to review the whole thread.

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


All times are GMT -4. The time now is 10:21 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.