Buy a House or Liveaboard?

[Erick]

I have been dreaming of living aboard for many years now however I am not sure that now is the time. Looking to get some incite/wisdom on the subject. I am currently at a crossroad purchase a house and be attached or purchase a boat and live aboard at a local marina. I like the idea of a house as the cost is much less however at 22yrs old and no commitments im not sure settling down is right for me at this time. Adventure is still very much calling! I don't want to weigh the conversation with to many details so please let me know what you think especially those who have many years on me.

thank you

[skipmac]

Asking this question on a cruisers forum I'll give you three guesses what most answers will be.

Why do you think a house is less than a boat? If you're looking at a new 45' boat sure it's more expensive than anything except an apartment on the upper east side. On the other hand, I have a friend with a very solid 26' sailboat for $4000.

Monthly marina rent depends on where you want to live. Something in downtown Miami or LA will cost you a bundle. My friend is paying about $300/month for his slip in north FL.

[FLLCatsailor]

Buy the house, and then go to work on yachts... Get the best of both worlds...

[Erick]

true im sure most answers will to weighing toward the boat. As for the vessel vs house I would be spending around 75k on the boat and 100-125k on the house. leaning more toward the 44-49ft motor yacht I owned a 27ft o-day some time ago and pretty much lived on it however I felt it lacked space (decent size bed, bathroom, legitimate shower, fridge, storage etc.). I have done research on the subject but im just torn. live aboard now and until kid(s). or buy a house and prob 10-15 years or more uproot and live aboard either way it will happen its just now or later. im hoping for some opinions from those who have traveled this cross-road.

[Bash]

Houses appreciate; boats depreciate.

[CPseudonym]

22 years old. Buy the house, pay it off in 15 years, rent it out and buy your boat.

[Rakuflames]

Originally Posted by Erick

I have been dreaming of living aboard for many years now however I am not sure that now is the time. Looking to get some incite/wisdom on the subject. I am currently at a crossroad purchase a house and be attached or purchase a boat and live aboard at a local marina. I like the idea of a house as the cost is much less however at 22yrs old and no commitments im not sure settling down is right for me at this time. Adventure is still very much calling! I don't want to weigh the conversation with to many details so please let me know what you think especially those who have many years on me.

thank you

Oh, Erick, I have *many* years on you.

It was easy for me to make the decision because years ago my husband and I rented an RV and traveled in it with our two children for two weeks. While it was 27' long and had a little more room than my 31' Hunter ... there were four of us.

It was the best vacation we ever had, and the BIG thing I figured out from it was that I wasn't emotionally attached to having lots of "things." It's "things" that make it hard to live on a boat.

If you can, rent an RV for a couple of weeks, and not one of those huge ones with lots of pop out space expanders.

See what you think of living in a small space.

Being a minimalist is the only way to let your boat be more than a floating condo (although if I couldn't sail any more I would still like it, and I'm finding out tomorrow whether or not I have a broken foot, which could keep me from sailing for some time) ... you have to keep it simple to live on your boat *and* sail.

[S/V Blondie-Dog]

Originally Posted by Erick

I like the idea of a house as the cost is much less however at 22yrs old and no commitments im not sure settling down is right for me at this time. Adventure is still very much calling!

"Youth is wasted on the young", to quote my lady-friend... When I was 22, buying a house let alone a boat wasn't even on my radar screen. Nevertheless if I were in your shoes and "adventure" were calling me, then for sure I'd do neither.

And if adventure is truly what you're contemplating then I might suggest that you strap on a backpack and tour the world if only for a number of months. Hostelworld dot com is a good place to explore possible options.

There's also something to be said about not being tied down to a mortgage payment. And one last thing... it can get pretty lonely out there by yourself aboard a boat. The novelty of it all is sure to wear off before you realize it. I'm 'jest sayin'.

[Celestialsailor]

Originally Posted by Erick

true im sure most answers will to weighing toward the boat.

Don't count on it. I have had plenty of both. When I started out...it was a boat. As the years drifted by...I was still renting and a boat. I saw the rent as a loser but with the boat knew I would never have a house on my pay scale. So I learned about real estate and the housing market as well as the stock market and what GDP meant. I learned how to correlate all this information and get a house(s) paid off. Now I rent out my house, have no mortgage and have adopted the lifestyle I have always wanted.

Originally Posted by Bash

Houses appreciate; boats depreciate.

Simply true.

[Rakuflames]

Originally Posted by S/V Blondie-Dog

"Youth is wasted on the young", to quote my lady-friend... When I was 22, buying a house let alone a boat wasn't even on my radar screen. Nevertheless if I were in your shoes and "adventure" were calling me, then for sure I'd do neither.

And if adventure is truly what you're contemplating then I might suggest that you strap on a backpack and tour the world if only for a number of months. Hostelworld dot com is a good place to explore possible options.

There's also something to be said about not being tied down to a mortgage payment. And one last thing... it can get pretty lonely out there by yourself aboard a boat. The novelty of it all is sure to wear off before you realize it. I'm 'jest sayin'.

Yes. When we rented our RV, we enjoyed traveling around the SE -- but we were a family. We weren't alone. We met lovely people at each place we camped, but within a day or two, either they or we were gone.

For those who don't want to feel disconnected and lonely, living in a marina is a solution. I have neighbors who are also long-term live-aboards. They go out sailing -- and then they come back, wiht great stories to tell. I have permanant friends on land.

If you're going to anchor out, finding a club tolerant of this so you can use their facilities -- and be connected to them -- is a good solution except that such clubs are rare. The one person I know who does this is grandfathered in and they don't allow anchor-based sailors in because they make excessive use of the clubs amenities: showers, free ice, etc.

Interestingly, I ran into hostility for the first time about my living on a boat. This guy asked me about it. I told him I lived on my boat in a marina. He still looked at me hard and said "so you don't pay property taxes." In Florida, with no income tax, many of the state's expenses are covered through property taxes.

I explained to him that when it came to property taxes it was like living in an apartment -- my landlord paid my propertaxes, and my share was covered in my rent. He didn't seem to get it (there's no accounting for stupid people).

[JazzyO]

Originally Posted by Bash

Houses appreciate

A rather unconventional view these days... With the babyboomers moving into the retirement home soon, I wouldn't hold my breath on house prices recovering to before the crash very soon.


Onno

[Rakuflames]

Originally Posted by JazzyO

A rather unconventional view these days... With the babyboomers moving into the retirement home soon, I wouldn't hold my breath on house prices recovering to before the crash very soon.


Onno

Speaking as a baby boomer, I don't know a single one who is seeking to move into a retirement home. Many of us are downsizing, but everyone I know is doggedly determine to remain in their own homes.

It's markedly cheaper to have someone come in and help you if you can no longer manage on your own than move to a "retirement home," also. I would go to extreme lengths to avoid it, and so would everyone else I know.

[GordMay]

Greetings and welcome aboard the CF, Erick.

[Kenomac]

Originally Posted by Bash

Houses appreciate; boats depreciate.

Not always. If you purchased a house 7 years ago, I'm sure it's worth significantly less today; and it is possible if you are very lucky and don't mind doing a lot of hard work, to buy a boat in a depressed market and gain a little on the equity side.

But you are correct, generally boats do depreciate, especially when purchased band new. You really need to forecast 10-15 years ahead and try to figure out how much less your boat will be worth... but don't always assume the house will be worth more. In a boat, you'll always get an ocean view.... in a house, you have a view of the damn neighbors who kept you up all night with their loud music.

One more point: If you don't like your neighbors after you buy the house... you're stuck with them. With a boat, you can just untie and move on. Take this as expert advice from someone who lives in a house in the intercity ghetto six months of the year, and on a boat in the Med the other six months.

[CapRon]

22 and sense of adventure. Get a job in the offshore oil industry and work international. I just got back from Thailand and I'm now in Burma (aka Myanmar) and all the young men I meet here are living here. They are having the time of their life. Southeast Asia is needing help as well as North Sea, Brazil, West Africa and a host of other exotic places. It takes experience to get the job but once there its an adventure and it also pays pretty good. I was younger than you when I started and I still wonder why I ever left SEA. ;-)