Home Ownership - Page 3 - SailNet Community
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post #21 of 25 Old 07-24-2019 Thread Starter
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Re: Home Ownership

I figured at some point I would pick up a condo or small house somewhere to rent out. If it makes sense. Will remain to be seen if the ROI is better than other investments. Since I my retirement plan went up in smoke in the divorce, house bought perfectly in 2009, other options may make more sense at this point in my life in California were the housing bubble has returned.
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post #22 of 25 Old 07-24-2019
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Re: Home Ownership

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Originally Posted by DinghyRace View Post
I wonder how many of those casting aspersions at home ownership will fare in their twilight years. Letís face it, my parents (and likely many of yours) sold their dirt-planted homes for more than 20x their original purchase price, after raising a family there. Heck, I sold my own first home for 2x the purchase price, after just a few short years in the place. Meanwhile, new sailboats depreciate at almost a similar rate to housing appreciation.

For those of my parents generation, this is the difference of growing $20k to $600k, or $50k to $1M... versus watching the same investment depreciate to nearly nothing, on a boat over the course of 30 years.

Good for you if you can afford that sort of hit, and not worry about you finances lasting you through your twilight years, but itís not a factor to be ignored in this conversation.
That kind of house appreciation was only available in certain areas of the country and over certain periods. One can not count on that kind of experience. Further, as I've mentioned before, houses cost money to own. My boat cost less, by far. Financially, that means the rest is saved. No one really does the math on all the new roofs, furnances, upgrades, painting, real estate taxes, etc, etc, when they simply compare buy and sell prices. It absolutely was not a 20x return. My real estate taxes alone would equal over half the cost of my house, over 30 years, which hasn't appreciated a nickle in the last 15 years. It went way down, now has simply recovered.
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post #23 of 25 Old 07-24-2019
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Re: Home Ownership

For a single guy recently divorced I think living on a boat for a year or two or would be a good way to re-align ones life. There is a lot more to life than just finances. Sure, Home ownership has certain perks but the Condo lifestyle is looking better and better to me with each passing year. I had done pretty well with real estate in the past but dealing with it after Hurricane Michael is starting to take its toll on me both physically and financially. i'll be lucky to break even, much less have a ROI. There simply aren't any guarantees in life other than death and taxes.
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post #24 of 25 Old 07-27-2019
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Re: Home Ownership

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Originally Posted by Minnewaska View Post
... as I've mentioned before, houses cost money to own. My boat cost less, by far. Financially, that means the rest is saved. No one really does the math on all the new roofs, furnances, upgrades, painting, real estate taxes, etc, etc, when they simply compare buy and sell prices.
Iíd be surprised if a 600 sq.ft. house planted inland costs more than the same floating on salt water year-round. Thatíd be an interesting debate for another thread.

And you make a good point, not everyone can see a similar 20x increase in their housing price over the course of a homeís ownership. But the point is, over the course of 20 or 30 years, houses generally go up by a lot, whereas a boatís value goes down by a lot.
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post #25 of 25 Old 07-28-2019
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My “minor refit” this spring on my 34’ cost me $9500 and three months of 12 hour days. Added up, if I had paid for labor, the labor alone would have been $32k. You do the math.
What kind of timeline does this support? Not sure if it can all be quantified in time. When you say refit, was this correcting previous owners modifications or a, "It's been three years and I should do some preventative maintenance thing?"
Correcting previous owner mods and bringing the boat up to current standards. The standards for a boat that sits at the dock and goes on weekend excursions are quite different than those for a boat that is lived in and actively cruised every day, often times completely independent of dockside conveniences.

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Last edited by MarkofSeaLife; 07-29-2019 at 06:18 AM.
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