swapping property for boats

[magictime]

1 hour ago, chubby said:

You have hit the nail on the head Sir . Even i could afford & get the necessary loans to buy in SE England i wouldn t do it . My half arsed plan is to combine working hard  with boating often . Im a humble chap , don t need much in the way of frills . Work hard , earn well , save wisely . Then go & buy someone well away from London , maybe somewhere oop norf ( if they ll have me !) , near a canal would be good . Just an idea , not yet a defo , but gotta strive on i think & yes - i think you re correct again to say 10 years rather than twenty as i don t intend to slog myself half to death but enough to organise a nice , simple humble place  - that ll suit me down to the ground 

cheers

 

We've been planning for some years to sell the family home when the last of the kids leaves, pay off what's left of the mortgage, and buy ourselves a boat and a little flat outright with the proceeds - giving us a route back on to dry land when we need it, and a bit of rental income meanwhile. We've actually ended up buying the flat a bit early, by remortgaging our house, but the plan is basically the same - sell the house, keep the flat, buy a boat. FWIW that flat (in West Yorkshire) cost us £66k. Not what many people would aspire to, but if it gives us a shot at spending the next 20-25 years living a simple, nomadic life away from the rat race...

[chubby]

This is all good stuff - OP TAKE NOTICE PLEASE .

The two above posts refer to boats & boating life . But also the good sense of holding on to a land based home . However much one wants to boat off into the sunset , the ugly truth is that eventually one MAY have to go back ashore sooner than hoped . This isn t pessimism , its realism . Planning is boring . But planning is wise & peace of mind is all but priceless .

OP - you have an opportunity if you choose to accept tje hard work of making it happen to " have your cake & eat it " by both owning a property & using it to fund your boating hopes . 

The two previous posters are doing this - so can you  

cheers

[Catnip King]

Where is your flat? you can send me details by PM if you prefer.

[Matt&Jo]

On Mon Apr 10 2017 at 08:50, Neil2 said:

Yes, I agree, not for the first time, with Mr Chubby.  You often hear folk say oh live for today you could fall under a bus tomorrow. Well yes, but the chances are these days you will probably live for a very long time, and believe me,  in your forties you have no idea what your outlook on life will be in twenty years time.  

It worries me that so many young people in this country have given up on home ownership.  That would be fine if we lived in a country like Germany where the economy isn't so property obsessed, but in the UK it is, and I can't see how this will change anytime soon.  Preparing for your retirement years has never been so important - at least they seem to be getting the message across in schools now - and in this respect owning your own home is still the most sensible move you can make.

 

 

 

Problem you have is people can not afford to get onto the property ladder.....you need huge deposits etc so people see boats as a way of property ownership and i applaud this as young people want to own something have the passion and drive to go it alone instead of living with mum and dad.

 

Security of property is in my opinion handy and reasuring but not available for all.

[Robbo]

9 hours ago, Matt&Jo said:

Problem you have is people can not afford to get onto the property ladder.....you need huge deposits etc so people see boats as a way of property ownership and i applaud this as young people want to own something have the passion and drive to go it alone instead of living with mum and dad.

 

Security of property is in my opinion handy and reasuring but not available for all.

A boat isnt property ownership, it's a asset that decreases in value.  If you own it it's one better than renting, but not by much.