House or Boat???

[Phil5764]

Hi everyone,
I am after some of your views with regards to buying a house or boat. Im 46 and have found myself at a crossroads in life whereby I am paying £750 a month out in rent for two bed property in North Devon. I have about 8 years left in my current job before I could retire. My aim has always been to retire abroad to the warmth as I hate the cold and the intention was to travel via a yacht.
I have completed several Sailing courses over the last 12 months up to Dayskipper but other than that I have little experience.
I am now considering the option of liveaboard down in Plymouth, with my partner and her son (11) instead of getting a mortgage for 20-25yrs. My finances will not allow me to do both, so it's either a boat or house. Boat wise I would be looking at anything from 50k - 100k. Don't want to pay anymore and the boats I am considering are Trident Warriors, HR, Southerley 110 and Moody's. Want something in the region of 36-40ft.
I am stuck in the dilemma of not knowing which way to go as both have pros and cons which I have sat down and worked through and wondered if anyone had any advice for me.
Thanks in advance.
Phil

Oh my partner does sail and is just as keen as me, so it's not a one partner driving it.

[Chotu]

If you don’t like the cold, don’t winter in a boat. LOL it’s going to be a lot colder than any apartment or house.

[pcmm]

Wintering in a boat in England should be fairly easy compared to Canada where I lived aboard. The key is proper heating systems, some insulation and prep. Boats tend not to hold heat well so need a really good heating system with a backup. Take advantage of any passive forms of heating that you can. We used clear shrink wrap to cover our boat in winter to keep snow of the decks, increase living space and provide for some daytime heating through the greenhouse effect of the cover.

and contrary to what Chotu said, we found that we often had problems keeping the temps DOWN to comfortable levels in the winter. Though condensation is always an issue

[Phil5764]

Thanks for the reply. How do you deal with the condensation? Do you use a dehumidifier?. Do you regret moving aboard?

[Pete7]

Originally Posted by Phil5764

Oh my partner does sail and is just as keen as me, so it's not a one partner driving it.

Phew, because if she didn't then the boat plan would probably fail. So the three of you will need space, perhaps a Moody 425 size of boat and a step ashore marina with power and water all year round. Holidays taken by sailing to France and Ireland etc once you have a bit of experience.

If the plan did fail, you could ultimately sell the boat and buy a house. Can't really see house prices going up much in the next couple of years. Folk are worried about the future in the medium term with all the changes likely to happen with brexit. So holding back on major financial decisions.

Look into what it costs to run the two bed house at the moment incl rent, gas, elec and do the same for say a 42ft yacht in Plymouth and see how the figures pan out, ought to be cheaper.

Pete

[Chotu]

I wintered over in Maine in the United States. Spent two winters aboard.

It’s not the interior of the boat that will have you cold. Dealing with that is a trifle. Like the other poster said, heaters, dehumidifiers, and putting some insulation up on Ports and hatches to prevent condensation.

You’ll figure that part out pretty easily.

Just like PCMM says, you will often struggle to keep it cool enough inside the boat.

What you’re not going to figure out or enjoy is walking from that boat to your car, or hauling the water down because the water is shut off for the winter, Or shoveling Snow from the deck and the dock. Maybe not the case where you are from, but still. It is not so much the inside of the boat that is going to bother you. It is having to go to and from the boat. Groceries? Water? Fuel to heat the boat with?

It’s an outdoor based life. And you will be outdoors in the winter. Not necessarily the best for someone who doesn’t like winter.

[Pete17C]

You came to CF to ask if you should get a house?

I vote for the boat!

That said, the mortgage only lasts as long as you own the house, it's not really a 20-25yr commitment if you sell it before then (and you may get some equity gain if the market goes up). So you could buy the house and sell it when you get closer to retirement in 8 years.

What are your options for sailing if you go with the house? Can you possibly swing a smaller day sailer to gain experience while you wait for retirement?

I guess it all depends on how much you want to go sailing.

[Phil5764]

Ha, it was the comparison I guess I was asking about and whether others had the same dilemma and what/why they chose it.
I have considered getting a little day sailor but it doesn't satisfy the going further afield and travelling etc

[Pete7]

Well, we chose the small house and smaller yacht. However, we did live on board in February 2018 through that cold snap having major building work done on the house. Sounded like a good plan in the previous Autumn. Didn't know it would be the coldest Feb for 27 years, even the saltwater creek at the back of us froze.

Heating was mains oil filled radiator on 24/7 and the yachts own hot air heating occasionally in the evenings. We did have condensation for 48 hours until the whole yacht had warmed through. Actually we managed to raise the inside temp to 77'F which was a bit hot for us most evenings.

Fitted carpets and insulation behind the cabinets will help, a small drip fired diesel heater with flame gives a cosy warm feeling. Also a full cockpit canopy gives you another room. Not cheap at £3k but for 8 years you will certainly get your moneys worth.

During the summer heat shouldn't be a problem in Devon, most Moody decks are cored with end grain balsa giving great insulation from the heat. There was only one fortnight in Dartmouth that we really felt the heat with 32.c temperatures outside. Rare enough not to worry.

The downside to living on board, things will wear out and break far more frequently. The heads, floors, pumps and cushions will need maintenance on a small but regular basis.

[Phil5764]

That's really helpful, thank you.

[Pete7]

No problem, btw there are some interesting older Moodys like this which might be interesting to compare to say a 422/425/44

https://www.apolloduck.com/boat/mood...ier-134/593145

https://www.apolloduck.com/boat/moody-eclipse-43/580678

[Phil5764]

Thanks Pete, will take a look. I conscious of keeping my options below the 40ft rule.

[MartinR]

I lived for years on a boat in Sweden, through cold winters. The boat needs a good heating system and good insulation. Fo the same reason my current boat is also well insulated, helps also in summer against heat.

A HR 42 would probably fit for live aboard.

[Phil5764]

Thanks Martin, not sure a 42 would come within my budget, unless it's quite old and needs quite a bit of work doing to it. I may stand corrected.

[letsgetsailing3]

Property appreciates.

Boats DEpreciate and require even more maintenance.

If you live on a boat, it's a lot harder to take it out for a casual sail.

So if it were purely a financial decision, the smart money says buy a house, and if you like sailing, also get a daysailor.

I've never been convinced that boats big enough to live on make any financial sense at all. Hence, my attraction to them.