House paid for but boaty related

[DAVIDO]

Rattling around in a big paid for house now the kids have flown the nest, question is.
Do we stay and keep paying expensive council tax and associated running cost bills to keep our estate as large as possible for the kids to pay tax on or sell up buy smaller and get a nice new shiny paid for boat. Um /forums/images/graemlins/ooo.gif

 

[EddieA]

Silly question on this forum fella!

 

[Whitelighter]

Why not rent your house out, downsize and the rent from big house will cover payments on small house and boat. That way you use non of your capital, have a second house appreciating which will offset the depriciation of the boat.

And you really really want a shiney toy like this:

 

[ari]

That looks rather nice, what is it?

 

[Whitelighter]

Its a Westline W34.

 

[Nautorius]

Congratulations......so shall we discuss a short list for you?

Cheers

Paul /forums/images/graemlins/smile.gif

 

[Nautical]

Gad zuks! /forums/images/graemlins/shocked.gif thats a sexy looking machine, what is it?, where's it from? and should I be worried /forums/images/graemlins/frown.gif

 

[Whitelighter]

[ QUOTE ]
Gad zuks! /forums/images/graemlins/shocked.gif thats a sexy looking machine, what is it?, where's it from? and should I be worried /forums/images/graemlins/frown.gif

[/ QUOTE ]

Now you are being naughty /forums/images/graemlins/blush.gif

Its a Westline W34, from Sweden and no, you needent worry just yet. Maybe in a few years when they roll out a 40 footer.

 

[Deleted User YDKXO]

I know my knee jerk reaction would be to downsize and buy a bigger boat but I would have thought it's a financial calculation based on your view as to how your existing house will appreciate in value
If you remortgage your existing property, the actual cost to you will be the interest on the mortgage less any appreciation in the value of the house and any rent you might get when you're off long term boating. If you downsize to a smaller house, the cost will be the loss of interest on the money you realized by selling the previous house and spent on the boat less any appreciation and rent
It's not a clear cut decision as the capital appreciation and rental income on the smaller house will of course be less than your existing house. It all rather depends on where you think the housing market is going to go in the next few years

 

[JamesTT]

Jez
Having seen your image of the Westline I thought it looked similar to these?

 

[Whitelighter]

oohh, they are rather nice. US built? How much?

 

[JamesTT]

Pricing not released yet, due to be launched in the US this winter and Europe for 08.

 

[Whitelighter]

Not a new brand though? Not seen many in the UK or at boatshows - who is the dealer for the UK?

 

[Whitelighter]

Now these are hull windows:

Not sure about the hull colour, but in a nice deep blue it might even give the Ities something to be bothered about. Just so long as the interior isnt US floral print and bad vinyl!

 

[landlockedpirate]

SQM Marine were importing them (Manchester and Wales offices). I used to buy jetskis off them in the 90's which were grey imports, not sure if the cobalts are official imports or not ?

 

[Whitelighter]

Yep, listed on the Cobalt website, so I guess they are the importers.

 

[rubberduck]

Just spent whole week driving ageing mother all over the place, back and forth to hospital etc, cos dad had a fall at their "far to large now" house.
So I will be downsizing to a bungalow & getting a new shiny must have when the kids disembark /forums/images/graemlins/grin.gif

 

[Alistairr]

So i take it, you have a W34 on order, and are going to become the first UK Dealer for the company then?
Fantastic, well done and good luck!! /forums/images/graemlins/grin.gif

Cheers

Al.

 

[Whitelighter]

[ QUOTE ]
So i take it, you have a W34 on order, and are going to become the first UK Dealer for the company then?
Fantastic, well done and good luck!! /forums/images/graemlins/grin.gif

Cheers

Al.

[/ QUOTE ]

Maybe.

Keep am eye on MBM etc. All will be revealed.

 

[Alistairr]

[ QUOTE ]
Why not rent your house out, downsize and the rent from big house will cover payments on small house and boat.

[/ QUOTE ]

Sounds great in theory, but what concerns me, is if you commit the income from the big house to fund the other house or boat, and then that income stops, are you not up [--word removed--] creek without a paddle??

Its something SWMBO and i often talk about, We have a second property, and often think about funding a 3rd property of the income of the second property, but are concerned, if tenant in property no.2 moved out and took a while to find new tenant, what would we do???

Al.
Jez,
I Will watch with interest, good luck.