Buying a boat instead of a house?

[Thajeffski]

So I'm 30 soon.......and I still don't own a house. I live right outside of New York City and I've been struggling with this question.

I really REALLY love boats and the water.

I've always wondered what it'd be like to live on a boat, rather then buy a house. Has anyone here ever done that?

I know that if I want to start a family it's probably not a great idea. However right now there is no family or even woman on the horizon

 

[Summer Fun]

Re: Buying a boat instead of a house?

How big of boat are you thinking about getting ??.
I own a 30ft and its great for one person to live on .

However right now there is no family or even woman on the horizon

One good night of partying on the water / boat could change all that.

 

[arks]

Re: Buying a boat instead of a house?

I've never lived aboard, but know a few that do. I love boating too but I don't think that lifestyle would be much fun anywhere that potable water freezes in the winter. I keep my boat in a wet slip all year and visit her regularly during the winter. Sure, it can be nice in decent weather, but I can't imagine living there during a cold, snowy 'Noreaster.

One of the liveaboards I know is on the same pier where I keep my boat. The marina shuts off all the running water by November 1, so he pre-fills 2-55 gallon barrels and has to keep 'em from freezing during any cold spells. He lives on a 30-32' houseboat with his girlfriend. Think about this: during the winter months they have no way to empty their holding tank, no easy way to replenish their water supply, have to walk thru a snow-covered, un-shoveled dock to take a long shower or do laundry. Another thing to consider in the northern states- boats are not typically insulated very well, if at all.

OTOH, if I lived in southern Florida or Texas, it might be something to consider....

 

[Thajeffski]

Re: Buying a boat instead of a house?

I would imagine I'd want at least a 30 ft boat. Of course it isn't going to be one of those luxury yachts you see on tv, but something that is nice enough to live on.

How much boat can you get for 600k to 800k?

 

[Summer Fun]

Re: Buying a boat instead of a house?

How much boat can you get for 600k to 800k?

Why would you spend that kind of money ??.
I bought mine for $13.000.
View attachment 50009

 

[Shamus O'toole]

Re: Buying a boat instead of a house?

back in the day on Long Island my family lived on a 30ft trojan Sport Fish during the summer. We'd move onto the boat the weekend after school let out. We'd go home once a week to cut the lawn, do laundry and stuff then move back to the house the weekend before school started. It was awesome and a little cramped with 4 people in a boat. i wouldn't trade those memories for all the money in the world.

 

[Bob_VT]

Re: Buying a boat instead of a house?

I would imagine I'd want at least a 30 ft boat. Of course it isn't going to be one of those luxury yachts you see on tv, but something that is nice enough to live on.

How much boat can you get for 600k to 800k?

It's all relative to location.......

Here is a challenge http://gsaauctions.gov/ they have a 50' dive boat on there that you could probably convert to a good size house boat!

OR take a look at some of the boats and property here http://www.govsales.gov

 

[Thajeffski]

Re: Buying a boat instead of a house?

Right now? One of those luxury yachts you were speaking of. Seroiusly, right now your boat dollar will go father than at anytime I can remember.

http://cgi.ebay.com/ebaymotors/2002...ItemQQptZPower_Motorboats?hash=item335c252f1e

If this is too small we need to talk.

Wow, I never thought that less than 500k could buy something like that.

I wonder how easy it is to get a loan for that much assuming you're buying it in place of a house.

My credit rating is 816

That would be a dream boat to live on!

The Tube TV has to go though.

 

[mike64]

Re: Buying a boat instead of a house?

Wow, I never thought that less than 500k could buy something like that.

I wonder how easy it is to get a loan for that much assuming you're buying it in place of a house.

My credit rating is 816

That would be a dream boat to live on!

The Tube TV has to go though.

yeah, you buy something like that and your "no woman on the horizon" situation will change quickly

 

[Summer Fun]

Re: Buying a boat instead of a house?

Banks are NOT lending money for boats.
They don't care if your credit score is 999.
They are awful spooky about lending money for toys.

 

[Thajeffski]

Re: Buying a boat instead of a house?

yeah, you buy something like that and your "no woman on the horizon" situation will change quickly

haha, yeah, that's partially my fault, I have a full time job and have been taking 9 credits semester in a masters degree program, coach a hockey team........and at the same time I try to relax OR work out once in a while, so I pretty much don't have time to even Look for women.....

My life is
1. family
2. boat (ie, come here during the winter and read)
3. work
4. school

 

[Thajeffski]

Re: Buying a boat instead of a house?

Banks are NOT lending money for boats.
They don't care if your credit score is 999.
They are awful spooky about lending money for toys.

What if I say "but it's my house!"

 

[jafo9]

Re: Buying a boat instead of a house?

when i first started reading this thread, i was thinking how cheap could someone get into a livable 30ft-er. wow, half a mil. the women will think you are james bond - or at least sonny crockett. don't forget the cost of maintenance. i don't know any specific figures, but i'd guess that upkeep on a little boat like the one in the ebay ad is pretty steep. don't know if its more than a comparably priced house in your area.

 

[Summer Fun]

Re: Buying a boat instead of a house?

You're a young guy why not just pay cash for one ??.
Did you see what I paid for mine.

What if I say "but it's my house!"

Try to talk the bank into that !!
You could lose your job tomorrow and then what ??

 

[Thajeffski]

Re: Buying a boat instead of a house?

You're a young guy why not just pay cash for one ??.
Do you see what I paid for mine.
Try to talk the bank into that !!
You could lose your job tomorrow and then what ??

Wish I had 500k laying around

I did pay cash for my 19ft bayliner though

 

[Summer Fun]

Re: Buying a boat instead of a house?

EDIT : Sorry I was speed reading. :redface:

 

[bhammer]

Re: Buying a boat instead of a house?

Banks are NOT lending money for boats.
They don't care if your credit score is 999.
They are awful spooky about lending money for toys.

Maybe not in your area. A lake friend just upgraded from his 27' to 49' Four Winns V475 with the navigation and satellite. Boat list was just shy of $800K and paid $715K, TTL and delivery for it. His loan is for $525K @ 20 years. I think if you have decent assets, good credit and enough down you could get one.

They plan to spend a couple months a year on it. They will make a journey from Bay City, TX over to the Keys in Florida to their winter house there.

 

[roscoe]

Re: Buying a boat instead of a house?

http://cgi.ebay.com/ebaymotors/45-T...r_Motorboats?hash=item335c21033e#ht_954wt_921

http://cgi.ebay.com/ebaymotors/41-C..._Motorboats?hash=item27b110697a#ht_500wt_1182

 

[Bumpus7]

Re: Buying a boat instead of a house?

.
Take a look at these and see if they fit your piggy bank.


http://shop.ebay.com/i.html?_trkpar...s&_sticky=1&_trksid=p3286.c0.m14&_sop=3&_sc=1

 

[rbh]

Re: Buying a boat instead of a house?

It is a general rule that property is supposed to appreciate in value
( I do realize whats happened in the last little while)
Boats for the most part don't!