Living aboard UK

[Si_hitch]

Hi everyone, looking to tap into your collective wisdom. I am a fairly inexperienced sailor, cut my teeth on a mirror as a child and owned a RS400 for a few years. Have also been on a couple of sailing holidays in the Mediterranean when younger. I am considering selling my house, buying a flat to rent out and a yacht to live on. My wife and I would keep working with the idea that with relatively cheap living on a boat and an income from said flat we could save enough to buy another flat to rent and then maybe another. Thinking that after a period of time we may be financially in a much better position than we are now, with a nice yacht which we would have learnt how to sail (we would do some courses).
I am guessing I might have 45k max spare after buying a flat and due to teenage children would need 3 cabins and 2 heads minimum.
Is this do-able? What are the extra costs I undoubtedly haven't thought of?

 

[nortada]

Where are you thinking of keeping the boat

Many marinas and local authorities do not allow liveaboards and marina berths do not come cheap.

 

[PlanB]

Do a search on here - there have been several similar posts recently.
For what it's worth, I lived part time aboard in the UK for three years, then 12 years in the Med, on a 45 flybridge cruiser.
In the UK, even in a marina with great showers/loos, the winters could be quite difficult and we would retreat to dry land from time to time. Others can tell you about the heating and dampness problems of a yacht.
In the Med, two of us living full time found we occupied the whole boat, and a couple of visitors was OK for a day or two but a serious inconvenience for longer. You need a hell of a lot more stuff when it's your main home. With three teenagers as well, everyone would have to in complete agreement with the plan.
On the money side, your plan to keep a foothold in the property market is sound - that's how we paid for most of our lifestyle. However, don't underestimate the running costs of a boat - things go wrong more often than in a house.

 

[Si_hitch]

I am prepared for some discomfort. To explain, by the time we would be ready to embark on this "adventure" we would only have 1 teenager still living with us, with 1 at uni and my son only with us alternate weekends. As to where, there are a few small marinas local to me which I think allow living aboard.

 

[Teko]

I grew up on board a 40ft spray in the north east UK. Winter was grim!

 

[AndrewB]

Don't do it!

For the money you might find an oldish 40-footer that meets your basic specification. But it's no place for two teenagers to live, cramped and damp. And where would you keep it? Some marinas will tolerate liveaboards, but not with a couple of youngsters aboard. A mud-berth out in the sticks? Inconvenient to say the least, with transport issues. On a mooring? Don't even think of it!

A canal boat might be better suited for a family living through winter in England. Or, perish the thought, a mobile home.

Your children will, with luck, be off your hands in a few years. Hang on.

 

[Kelpie]

Is everyone else onboard with this idea? Warts and all?
If you are going to be continuing to commute to work daily, that means you really need a marina berth, which is usually pretty expensive. And you can't use your sea toilet in a marina so how far away is the toilet block? The novelty may wear off part way through the first winter when you are facing the prospect of walking the length of the pontoons through cr*ppy weather just to use the loo or have a shower.
Some people do it, but they tend to be single, not with families.

Summer-only is a different story of course, at least in the UK.

 

[[3889]]

Whilst I would have reservations about the boat side of things, staying onboard for a week in Brittany during winter with free unlimited electricity is a pretty grim experience, the main concern would be a buy to let empire. IMO it is a busted flush getting worse by the month with both main political parties competing to sqeeze and regulate landlords. Not that some landlords don't deserve this treatment but it affects all.

 

[chriss999]

You’ve prob already made allowance for the fact that you will pay tax on the rental income you earn on the flat, at your marginal rate of tax. This will eat into the profits.
A caravan might be more practical than a boat; as said already.

 

[Samosun]

I lived on a 22 foot Westerly for 2 years in a marina which officially doesn't allow live aboards. Just kept myself to myself, and kept my boat looking seaworthy. nobody gave me any trouble. Winter really wasn't that bad, i just had an oil filled mains heater and my boat was far from well insulated. depends how hardy you all are!
I absolutely loved living on my little boat! I think your biggest issue is there being more than two of you. Unless you're getting a really decent sized boat (50'+) it may be stressful being under each others feet so much with no space to spread out.

 

[goeasy123]

Si_hitch, stay out of property investment at all costs. Any economist will tell you that risk/reward is appalling. At this point in the economic cycle the risk is particularly high.

 

[anoccasionalyachtsman]

Si_hitch, stay out of property investment at all costs. Any economist will tell you that risk/reward is appalling. At this point in the economic cycle the risk is particularly high.

I'm no economist, but I couldn't agree more.

 

[goeasy123]

Si_hitch, If you can answer a couple of questions you may get a better answer...

1. If you sell the house will you be mortgage free when you buy the flat you want to rent out? I.e. with you have the price of a flat and £45k in cash to buy the boat?
2. Will the work you and your wife do when you live on the boat tie you to a particular location? I.e, can you work while you sail?
3. Have you watched Zatara, The Sailing Family and Britican on Youtube? What do you think of what they're doing.