Advice on Buying a liveaboard MY that I can get Coded

[davidpallett]

Hi
I am intending to retire in 2021 and wish to buy an older MY of about 55ft in the £120k bracket so 1980s for liveaboard use in the Med as I will be selling the house here in the UK. I am practical as I have done vintage car restoration for many years.

We want to supplement our income with a bit of B&B / Airbnb and to do that I understand the boat needs to be Coded for insurance purposes etc

I am intending to get a 'standard' vessel not a home build ie Something like a Canados 60, Bertram 58, Guy Couch 1800 etc

Is there anything special I need to look out for or obvious pitfalls?

Thanks

 

[PlanB]

I've just come to live in Farnborough after living aboard a motor boat in the Med for 12 years. PM me if you'd like to chat!

 

[markc]

I don't think you need to have the boat coded if you're just renting out a bed and not taking people out on the boat

 

[BartW]

We have a Canados 70s, and its coded,
but nowaday's the procedures have become difficult and costly,
not only for the coding, but also for the administration of the charters
fe for all charters in Europe, one has to declare VAT in the country where you take the guests onboard,
you need a professional safety inspection every year, etc..

If I were you, I would keep it all lo profile, register the boat privately, and just "rent out to friends "

 

[Seastoke]

I've just come to live in Farnborough after living aboard a motor boat in the Med for 12 years. PM me if you'd like to chat!

What’s plan c

 

[PlanB]

Pa

What’s plan c

Plan A was to leave it all in the bank. Plan C is to spend what little is left.

 

[jrudge]

There is a live aboard forum who may give you more details but they are nearly all sailors - for a reason - moron boats are expensive to run .

Have you had a boat before?

An old 55 ft 1980s boat is going to swallow money and unless it has had one will need accent refit to be livable. Coding ( if required) costs ££ ( jackets, rafts ,changes, inspections) and iff you take it out with guests it will need a suitable skipper and adhering to local regs.

Beds on board type thing might work - I heard one boat that made a decent income but then you will need to stay somewhere else and people putting wet wipes down the WC, running out of water and popping the shore power will get waring.

 

[Paulg25]

An old 55 ft 1980s boat is going to swallow money

I see comments like this made a lot and I'm not disputing it, especially as I've never yet owned a boat. I would however like the comment qualified and quantified. Does it assume that the boat has been neglected by all it's previous owners? Does it assume that all old boats are for sale are only for sale because they are worn out.

I'm currently negotiating for a 1980s 42 footer. It has definitely been neglected and the survey confirms this, however the structure is solid and the engines are good.

 

[wonky]

If you do need to code it PM me as I have done this on a 50footer and have all the nonsense you (don’t) need, ship‘s bell, 2m light pole, etc....

 

[jrudge]

Boats swallow money regardless of age.

The older the get the more they swallow.

Things corrode, wear out, hoses perish etc. A boat has lots and lots of kit. Engines, shafts, generator, chargers, water heaters, air conditioning , oven , hob , water pumps , toilets, fridges , ice makers etc. They all age. They all wear out. They all can and often do go wrong. They corrode etc. Parts can’t be found so you replace the whole unit.

If it has been well maintained yes it helps but that is all.

I have done a major refit on mine (2004 ) and it actually goes wrong less than my prior 2014 boat. That will be a bit down to luck a bit down to much has been replaced etc.

It is simply a fact of boat ownership and if you have been told it several times do best in mind we all own boats !

If you have never owned a boat before I would caution the image in you mind of living on a boat. A med marina in January is not a busy or welcoming place.

 

[Paulg25]

So pretty much the same as owning a car and a house.

 

[jrudge]

Not really. A house is ( usually ) dry, does not have salt water and Salt air and does not move around in rough sea at 30 odd mph.

The house parts are commodities and cheap. A domestic fridge is about 20% of the price of a boat one with dual voltage. Marine air con is different etc and all boat parts carry the boat premium.

House sofa. Pop down to dfs. Boat hire a trimmer. Wall scuffed. Get £10 of paint. Boat strip it off and replace the fabric. New mattress. Online the next day. Boat. Custom made. It goes on and on.

 

[davidpallett]

I've just come to live in Farnborough after living aboard a motor boat in the Med for 12 years. PM me if you'd like to chat!

PlanB - I cant seem to find a way of sending you a PM - being a newbie here

 

[davidpallett]

An interesting set of replies

No we haven't had a boat before but repairing houses and cars has been a theme for a long time.

I take jrudge point over a sofa etc but having had trimming done and done some trimming myself of vehicle seats I appreciate somethings are not as easy but as I intend to live there most jobs don't carry the issues of being done at a distance or having to be done in a small time frame. Try finding parts for a 1927 Fiat lol. Make do and mend is a byword. By trade I am an IT and Electronics engineer and was brought up on a small holding so am fairly handy with mechanics and woodwork as well

Our target funding would be to make £3k to £5k per year so we don't need an income as such. Its pocket money and to slow down the savings erosion. I am retiring early to live frugally rather than waiting another 10 years to live comfortably but then probably only have 10 years to live if others I have have known are anything to go by

The cost of running the house and vehicles is about £1100 pcm so ending up with similar numbers going out is fine especially as I dont intend to be in a marina all the time.
Sailing is not an option as having tried it, its too much hard work (and slow progress) as I have a pacemaker and am 55, plus most people we spoke to at marinas essentially say that once you get to around 65 it becomes too much anyway, and I have no intention of coming back to land. I am sure there are many will dispute that concept though lol

The coding issues of the extra safety gear etc I don't have a problem with as we will have most of that anyway. The ships bell etc and some labelling seem fine

 

[davidpallett]

If you do need to code it PM me as I have done this on a 50footer and have all the nonsense you (don’t) need, ship‘s bell, 2m light pole, etc....

Wonky - I cant seem to find how to PM you but would welcome your comments on here or by a PM

 

[petem]

Where are you planning to keep the boat? A 60 footer is going to cost anywhere between £10k per annum and £50k per annum for a berth.

Also bear in mid that if an engine needs a re-build you can be looking at anything between £30k and £100k to fix it.

 

[rubberduck]

I would think public liability would be needed as a minimum, see if they will do that without coding. I wouldn't try & dodge anything, if a kid falls in , gets hurt etc. people are not going to pretend they are your mates, quite the opposite.

 

[Paulg25]

would welcome your comments on here

Would be good so that others can benefit

 

[Elessar]

An interesting set of replies

No we haven't had a boat before but repairing houses and cars has been a theme for a long time.

I take jrudge point over a sofa etc but having had trimming done and done some trimming myself of vehicle seats I appreciate somethings are not as easy but as I intend to live there most jobs don't carry the issues of being done at a distance or having to be done in a small time frame. Try finding parts for a 1927 Fiat lol. Make do and mend is a byword. By trade I am an IT and Electronics engineer and was brought up on a small holding so am fairly handy with mechanics and woodwork as well

Our target funding would be to make £3k to £5k per year so we don't need an income as such. Its pocket money and to slow down the savings erosion. I am retiring early to live frugally rather than waiting another 10 years to live comfortably but then probably only have 10 years to live if others I have have known are anything to go by

The cost of running the house and vehicles is about £1100 pcm so ending up with similar numbers going out is fine especially as I dont intend to be in a marina all the time.
Sailing is not an option as having tried it, its too much hard work (and slow progress) as I have a pacemaker and am 55, plus most people we spoke to at marinas essentially say that once you get to around 65 it becomes too much anyway, and I have no intention of coming back to land. I am sure there are many will dispute that concept though lol

The coding issues of the extra safety gear etc I don't have a problem with as we will have most of that anyway. The ships bell etc and some labelling seem fine

I think you asked the question but are not really listening to the replies. If you can park it for £1100/month you are doing well, you’ll need a full time berth whether you are in it or not, by the night can cost hundreds per night in many places. A large boat eats money, sometimes in large chunks. Don’t underestimate it!

 

[PlanB]

I tried to use the "start a conversation" (what was a PM) thing with you, but the system wouldn't let me! I think you have to make a few posts as a newbie first, but don't know how many. You could give it a try - it's the little envelope top right next to your user name/avatar.