How do you afford it?? Boat that is!

Re: How do you afford it??

if yo love boats enough and want one enough you make adjusments to enable you to get one. The 2 of us do not earn mega bucks but nor do we have kids, expensive holidays, we don't smoke or go out that much when you add up what lots of people spend on all of that it soon helps pay for the boat.
 
Make it, steal it, borrow it or inherit it + a good accountant to find ways for you to keep more of it. I think that just about covers it
 
I am somewhat amazed that no one has responded with " I am currently staggered that people are having children given the relationship between average incomes and the lifetime cost of children................"

As one has stated, and others implied, it is gererally a matter of priorities, often a lifestyle statement, and certainly doesn't have to go hand in hand with other expensive assets.

With many many peoples' pride and joy costing more like 20-50k I suspect that these are the ones purchased and maintained from earned income and at 250k 'something else' has contributed for many purchasers - inheritance, share options, business sale, even redundancy and retirement.........
 
Kids

thats something else, our lad has cost us at least a new 40' Moody.
But he did come out of Uni after 8 years without an O/D.

I assume we will be recompensed? /forums/images/graemlins/confused.gif

So still no answer! By a normal job, I meant working for a living with a large Co or possibly in the public sector, & the top (perhaps I should have said average salary) 1 to 2% can only be in the 100 to 150 k bracket, that still does not get you the disposable income to be able to afford a large mobo, or even come to that a new raggie.

poter
 
[ QUOTE ]
I sell my soul to the company for a lot more than that, but still my old Windy is what I can afford without any debts[ QUOTE ]


so that was a fib on my "Flash *******" thread then Dave? /forums/images/graemlins/grin.gif
 
I only drive a 21 footer, but that is the choice I made, whilst I learn how not to kill myself and my family and that I really do like boating.

Well, I do like boating and will now channel my disposale income towards that sport. I am also into cars, but have decided that at the moment I would rather have the boat than an Aston Martin/Ferrari/Lambourghini/Bentley GT/Porsche GT3. So I drive a Kia Sorento 4x4 and a 1998 Celica - which I love, incidentally.

Before I discovered boating, I was a Gumballer, which is a very expensive passtime, but have stopped Gumballing in favour of boating.

Once I have gained some expereince, I have my eye on a Botnia Targa as I like the extreme performance. A lot depends on the derogation of red, as I am not a fan of burning n gallons an hour at £1.20 a litre, when I could go bananas in a supercar, which burns a fraction of the fuel a boat does.

You could try going on the game.
 
Was there not something in the boaty press a little while ago,regarding marine morgages etc.The financing bloke they spoke said that up to 200k or whatever some sort of finance was normally needed but that above 500k + or so a fair proportion were cash transactions.
 
>>>
I am somewhat amazed that no one has responded with " I am currently staggered that people are having children given the relationship between average incomes and the lifetime cost of children................"
>>>

Can't afford to hire crew and besides, SWMBO would have "views" on the sort of foredeck ornaments one might want. Breeding crew means a good long training period.

:-)
 
Re: How do you afford it??

Perhaps more to the point [ QUOTE ]
Money can't buy you happiness, but it can buy you a yacht big enough to pull up right alongside it.
David Lee Roth

[/ QUOTE ]
 
Re: Answer - How do you afford it??

Having been in the market this year, we've been told by more than one dealer that quite a bit of the cash to buy boats has been coming from housing equity.

If you were lucky enough to have bought a £200k house several years ago in the SE (say 1997) it could easily be worth £500k now. This is something that the top 1% or 2% of earners could quite possibly have done.

Outstanding mortgage in 2005 is likely to be less than the original 90% (£180k) but even if not it still leaves £300k equity. To buy a boat you could take out an extra mortgage of £270k, which at 6% pa costs approx £16k a year in interest. So, back to the original question:
___________________________________
If we take it that say you are well above an average earner (say the top 1 or 2%) & even after all the usual costs, you end up with say 20 or even 30K to dispose of in a year, how on earth does that translate into a new 45' moboat at 270k+.
_____________________________________________

The disposable £30k pays £16k for the interest, £6k for the marina, £2k for insurance, £2k for servicing and leaves something over for diesel.

The problem is that you now owe an extra £270k, and the asset you have bought with it is worth only £220k the minute you take the keys! On the other hand so long as house inflation carries on at 5% a year it will only take a couple of years to recoup that from the increased value of the house.

You have of course squandered part of the children's inheritance, but then Messrs Blair & Brown would do it for you if you didn't do it yourself.
 
Re: How do you afford it?? Boat that is!

"How do you afford it?? Boat that is!" - I can't!

Although I guess different folk have different ideas about what is "affordable"...........I sure as s#it would not borrow £250k for a boat, unless I had the cash invested somewhere else (and not "just"in the house I lived in) - but each to their own.

But I will say that no Kids and (no divorce) has helped on the money front........ and IME it is amazing what you can "do without"........without......... "doing without".

I might not always be able to control my income, but I can always control what I spend (although not always wisely /forums/images/graemlins/grin.gif).
 
Re:cant

I had to make a choice spend on boat or house the house won has cost more seems never ending is boring but worth more wont lose dosh wont sink wont get nicked
the ole trawler mmmmmmmmmm would have got past the ten k to what ever it would have cost and been sat some where nice wid kettle on wondering where to wander off to next
humm got to get me priorities right
ay
 
Re:wotcha

how are you

I've missed me boats it's this house boo hoo lol I had another try re an ex misses doomed to failure as she tried to compete with that old trawler I had
In the end the boat won :-) but suffered with not being looked after so I dicided to sell and concentrate on this place

sadly the bloke who brought danbrit did nothing left her there !!!!!! poor girl gave up with the big tides and went down this september
what a waste ay
I half considered a salvage of her but eva had to contact the owner heard nout since
well I've got the tail end of the last big room 28ft long 17 beam 18 headroom to go waiting for plasterer to come then after that the rest are small in comparison so who knows may be looking for anoth toy

cheers
Mick
 
You must log in or register to reply here.

Share this page

Top