Are small cheap boats about to get “cheap” once more?

Is rent for one really more expensive than half a £500k mortgage? Surely you would be paying towards kids as much as the maintenance payments? Not trying to offend, I just don't see how your point is particularly valid? Surely on £100k you could live well and have plenty left even given changed circumstances?
 
I wasn’t meaning me - but to use me as an example…..

we had a £250k mortgage - interest only £300 a month - I now have to pay £950 a month rent… she kept the house (so far) as we have kids….

Before we probably both spent £300 a month on the kids, now my maintenance is £560….. Before, we shared the bills, now

I used to have spare money to run a boat, If I still had it, it would be up for sale now as I just could not afford it.- and I earn a good (but not amazing) salary….

My point is, even on £100k a year, if your circumstances change drastically you might struggle - add in the massive current increases in everything and I can see a lot of people dropping out of owning a boat.
 
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ontheplane said:
My point is, even on £100k a year, if your circumstances change drastically you might struggle - add in the massive current increases in everything and I can see a lot of people dropping out of owning a boat.
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Getting divorced sounds like a financial disaster :(
I’m fairly certain I could not continue to run an SC35 if that were to happen.
 
Yep. If you think weddings are dear, it’s got nothing on Divorce!!

If you have kids it’s even worse - I’m 3 years down the line and about £400k worse off - hopefully I might get some of the house in the settlement!!!
 
gordmac said:
Thanks on the plane.
Rent at £950/m, that is serious, how do people on average wages manage to pay that sort of money?
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950 is at the cheap end in the South East. In and around London, you may be paying that for a room in a flatshare. It's not unusual for recent graduates to be paying 60%+ of their take home in rent.

I know when I finally managed a deposit I went from £750 rent in a flatshare to £400 mortgage for an apartment.
 
gordmac said:
Thanks on the plane.
Rent at £950/m, that is serious, how do people on average wages manage to pay that sort of money?
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Where I have houses/flats the average for a one bed apartment is £450, a 2 bed flat is £500pcm, a 2 bed semi is around £600pcm, the closer you get to Loch Lomond you go the dearer it gets, a 3 bed semi is £900pcm and around £1200 in the country.
 
st599 said:
950 is at the cheap end in the South East. In and around London, you may be paying that for a room in a flatshare. It's not unusual for recent graduates to be paying 60%+ of their take home in rent.

I know when I finally managed a deposit I went from £750 rent in a flatshare to £400 mortgage for an apartment.
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I was going to say the same - i reckon the house that is being rented for £950 per month is very modest. The girl that cuts my hair was saying she pays £1200 per month for a 2 bedroom house in a less than nice area of manchester.

24 years ago I used to rent a 2 bed flat in a nicer part of manchester and that cost me £620 per month.
 
In a couple of years time, we will be selling the motorhome and returning with a Sealine S34 if we can find one - a couple of years ago a reasonable one was circa £70k, now asking, and it seems getting, £90k plus. What is the panels view , in 2024 higher or lower than £90k?
 
£950 is cheap. We have a 2 bed end terrace, small garden - most around us are £1000-£1100.
I think what I was getting at is that many people live near the edge of affordability, and if interest rates rise and all the bills go up, what was just affordable becomes unaffordable - and people look to sell or reduce what they don’t NEED. Cheaper sky package, don’t replace the car or phone as often, eat out less and so on….
If you could JUST afford the boat, it could be one of the first costs to cut especially as it’s a decent chunk of both capital AND monthly outgoing saved.
 
H,mm suspect not a few boat owners will be sitting on bare floors gazing at the empty TV wall socket, while the kids rummage through next doors dustbins, before the boat goes. ?
 
ontheplane said:
£950 is cheap. We have a 2 bed end terrace, small garden - most around us are £1000-£1100.
I think what I was getting at is that many people live near the edge of affordability, and if interest rates rise and all the bills go up, what was just affordable becomes unaffordable - and people look to sell or reduce what they don’t NEED. Cheaper sky package, don’t replace the car or phone as often, eat out less and so on….
If you could JUST afford the boat, it could be one of the first costs to cut especially as it’s a decent chunk of both capital AND monthly outgoing saved.
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I never thought about it much but I can see why people talk about the difficulty in affording somewhere to live. Mind you around here people live in tents (and caravans) as there is nowhere available to buy or rent. Anything tends to go for b+b and holiday lets. It isn't sustainable in my view.
I take your point that people tend to spend what they have coming in but, for those on a high salary at least, perhaps saving for a rainy day (and it is pouring now!) would be a far more sensible option. You don't need several holidays a year, new car regularly or the expensive TV options.
 
gordmac said:
I never thought about it much but I can see why people talk about the difficulty in affording somewhere to live. Mind you around here people live in tents (and caravans) as there is nowhere available to buy or rent. Anything tends to go for b+b and holiday lets. It isn't sustainable in my view.
I take your point that people tend to spend what they have coming in but, for those on a high salary at least, perhaps saving for a rainy day (and it is pouring now!) would be a far more sensible option. You don't need several holidays a year, new car regularly or the expensive TV options.
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Has this thread drifted a little ?
 
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