A decision

[Donna]

Currently Southerly is in Ortega landing. 36ft. 1986 marine trader that has been updated for the past 4 years. I love her. She’s a beast.

Since she is finished, just regular maintenance as in any boat, I’m seriously considering putting her on the market. The reason is to cash out on my primary land home. The real estate market is crazy now. I’m thinking about a 45-55ft. To live aboard for the next 5-10 years.

Southerly is a fantastic boat and I know her inside out. She is extremely hard to part with. Am I totally nuts?

 

[Larry M]

No you’re not nuts. Selling Southerly will be easy. The hard part might be finding a 45-55 foot boat right now. We have a friend who’s a broker and she’s singing the blues do to lack of inventory.

 

[Donna]

No you’re not nuts. Selling Southerly will be easy. The hard part might be finding a 45-55 foot boat right now. We have a friend who’s a broker and she’s singing the blues do to lack of inventory.

I hear that!

 

[OldDan1943]

Yes, you may be crazy. You have spent lots of time and big bucks updating the boat to 'make it yours'. How does your spouse feel about your plans? Maybe a condo is in your/her future??
Are you prepared to spend more time and money bringing the next boat up to your standards and expectations?
In a heart beat, your life and plans can change, necessitating scrapping all your plans. I suggest, you relax and enjoy your accomplishments with this boat.
Of course if you sell your house, you have to reinvest the money in real-estate or a more expensive house, within a limited time, 2 years? If not then, capital gains may eat you alive. I dont know if a bigger boat will qualify as a bigger 'house.' An interesting question for a tax advisor.

 

[Donna]

Yes, you may be crazy. You have spent lots of time and big bucks updating the boat to 'make it yours'. How does your spouse feel about your plans? Maybe a condo is in your/her future??
Are you prepared to spend more time and money bringing the next boat up to your standards and expectations?
In a heart beat, your life and plans can change, necessitating scrapping all your plans. I suggest, you relax and enjoy your accomplishments with this boat.
Of course if you sell your house, you have to reinvest the money in real-estate or a more expensive house, within a limited time, 2 years? If not then, capital gains may eat you alive. I dont know if a bigger boat will qualify as a bigger 'house.' An interesting question for a tax advisor.

Spouse is a CPA. We currently own 4 houses. Cashing out on the big one seems viable.

True, southerly is perfect and is in great condition, just looking for an adventurous lifestyle before it’s too late. I’m a trained chef so galley is super important as well as entertaining space.

 

[OldDan1943]

Spouse is a CPA. We currently own 4 houses. Cashing out on the big one seems viable.

True, southerly is perfect and is in great condition, just looking for an adventurous lifestyle before it’s too late. I’m a trained chef so galley is super important as well as entertaining space.

Guess your wife has been right all these years, just like she told you. WINK
Hmmm. trained chef? You will need a big table to feed us all.

 

[Donna]

Guess your wife has been right all these years, just like she told you. WINK
Hmmm. trained chef? You will need a big table to feed us all.

Now that’s funny! I’m the wife! Lol

 

[OldDan1943]

Now that’s funny! I’m the wife! Lol

Hello Donna, the wife, with big smile and brilliant white teeth. TEASE
Does spouse know you are about to sell the family boat??

 

[ranger58sb]

Currently Southerly is in Ortega landing. 36ft. 1986 marine trader that has been updated for the past 4 years. I love her. She’s a beast.

Since she is finished, just regular maintenance as in any boat, I’m seriously considering putting her on the market. The reason is to cash out on my primary land home. The real estate market is crazy now. I’m thinking about a 45-55ft. To live aboard for the next 5-10 years.

Southerly is a fantastic boat and I know her inside out. She is extremely hard to part with. Am I totally nuts?

Not nuts, but...


In this particular (goofy) market, find and buy the next boat first -- then sell Southerly -- if you can swing it that way.

We, of course, tried it the sane way. Sold last June, after about 1 day being listed. Still don't have a boat.

Good luck, whatever you do!

-Chris

 

[Comodave]

No, you are not crazy. Life is too short not to do what you want to. Things change as life moves along. We just accepted an offer this morning on Never Say Never. We put absolutely tons of work and money into it, but times change. We now have decided to go a different direction with our boats. So do what you want, your boat will sell for a premium price right now. The bad news, as mentioned above, boats are hard to find now and you will pay a premium price for the new one. But if you can afford it, I say go for it. Good luck.

 

[Mark P]

Donna, you are not crazy but check availability of your next boat. I goofed in that area. I sold my boat last year and can't seem to find a boat at this crazy time. This past couple of weeks, I saw two boats on YW that were each 17-18 years old, and before I could prep my offer each sold for about 80% of what I think that boat cost brand new when it was built. It may be a couple years before things get back to normal.

 

[psneeld]

Now that’s funny! I’m the wife! Lol

Ole Dan was just guessing who wore the pants in the family.

I know you are strong...and nowadays one's sex is whatever you identify with each and any morning.

I would say you are ready and the big boat is now or never Donna....its time because you never know about tomorrow.

 

[twistedtree]

Timing might be in your favor. Sell you boat now while the market is hot. Then my guess is that in the next 2-3 years there will be a lot of nice boats on the market. Last summer and this summer everyone who has money is buying a boat since they can't do anything else for vacation/recreation. Then 2-3 years later MANY will realize boating is not for them and those boats will go on the market. So if you can hold off on buying the next boat until next year....

 

[OldDan1943]

Donna, perhaps you should consider not putting your boat on the market until your next boat passes the survey?

 

[BandB]

Currently Southerly is in Ortega landing. 36ft. 1986 marine trader that has been updated for the past 4 years. I love her. She’s a beast.

Since she is finished, just regular maintenance as in any boat, I’m seriously considering putting her on the market. The reason is to cash out on my primary land home. The real estate market is crazy now. I’m thinking about a 45-55ft. To live aboard for the next 5-10 years.

Southerly is a fantastic boat and I know her inside out. She is extremely hard to part with. Am I totally nuts?

Wifey B: Totally nuts and I love that about you. Here I have to respond at 1:30 AM, but saw your post and had to. Whatever the lady wants, the lady should get. Oh, bet I know three girls all for it too. :lol:

As someone said, just be sure of all the details and costs as people are predicting this is the peak of housing market, but no one knows, and who knows whether you'll find a value in the new boat like you did in the old. Still, living on is your dream and needs to be a bit bigger. Hoping at the marina you previously talked about having it, but wherever you go, whatever you do, I'm all for it.

 

[PM]

The trouble with selling anything when the market is so hot is that the next step is for you to become a buyer. Short supplies and high prices is what you may expect.

Probably a good time to sell the dirt home but keep the Marine Trader. Don't let the money burn a hole in your pocket. Boat prices will drop in a few years and the market will open up.

pete

 

[Donna]

Thanks all. Southerly will not go on the market until a new boat is found. There is no reason I can’t move on to her after selling the dirt house until the new boat is found. Family is fine with this. My daughters are grown and own houses of their own.

Taking a leap like this is a big decision. Maybe I’m overthinking it.

 

[BogCollector]

Subscribed.
My house is in escrow, scheduled to close later this month.
I'll be looking for a 45-49 foot boat for a live aboard.
Galley is also very important. While I wasn't professionally trained, I am self taught and worked for a top SF Bay Area caterer for fun after work for a few years. Some of the hardest physical work I've done and that includes pouring concrete.
Hope you have good fortune and luck finding your ideal live aboard.

 

[Donna]

Just lost out on not 1 but 2 55ft. Viking motor yachts. I’ll keep looking.

 

[psneeld]

A good friend had me captain his 55 Viking MY for a few years. I liked the boat and its layout.

His had the open after deck.

Tough boat to enjoy the water from.

 

[mvweebles]

I just sold my house of 17 years for a tidy profit. Next step is to keep the boat and use the house proceeds to fund cruising lifestyle

I too am an accomplished cook. Inspired by the cramped eateries in NYC, I find my culinary knowledge is best challenged by a small galley. It influences my cooking in a way that perusing a fresh market does.

Compared to prevailing wisdom on TF, I'm a contrarian. Go as small as you can, not as large as you can afford. Puts me in the distinct minority in this crowd.

Good luck

Peter

 

[catalinajack]

Yes, you may be crazy. You have spent lots of time and big bucks updating the boat to 'make it yours'. How does your spouse feel about your plans? Maybe a condo is in your/her future??
Are you prepared to spend more time and money bringing the next boat up to your standards and expectations?
In a heart beat, your life and plans can change, necessitating scrapping all your plans. I suggest, you relax and enjoy your accomplishments with this boat.
Of course if you sell your house, you have to reinvest the money in real-estate or a more expensive house, within a limited time, 2 years? If not then, capital gains may eat you alive. I dont know if a bigger boat will qualify as a bigger 'house.' An interesting question for a tax advisor.

Uh, Dan, only a maybe on the capital gains. The first $250,000 of profit for a single person is not taxed ($500,000 for a married couple). And the two-year reinvestment in a more expensive house to escape taxation, well, those tax law provisions were repealed something like 15 or 20 years ago. They were replaced by the $250,000/$500,000 gain exemption. No more gain deferrals.

 

[FF]

"GAIN" needs to be real if you think you are showing a profit.

A dollar amount increase due to the currency loosing value ,as seen by decades of inflation my not be an actual gain.

The internet has many sites that will value the old dollars to compare them to shrunk dollars , where you can see if there was a real gain.


Hope you did make out!