house or boat dilema
Submitted by roddo on Tue, 2011-01-18 18:25
hi guys
i have a bit of a dilema
do i buy a boat or a house heres why i cant decide.
if we buy a house (it will be our first) we will be buying something we dont really want as at this stage all we can afford is a $350,000 house in the city we live in but we want to live semi rural and will need around the 500-550,000 as we want 4-6 acres,
so should we buy something we wont be happy in or
do we wait 4-5 years to buy exactly what we want and buy the boat ive been wanting for a while now its worth $25000 and would get used every weekend and holidays.
the wife doesnt care either way as she loves fishing as much as me.
what do i do
allrounder
Posts: 1853
Date Joined: 10/11/08
You can sleep on a boat
But you cant fish the reefs with a house.
So tell me have you got your info from years on the water or hours on the internet?
fisho-ron
Posts: 2539
Date Joined: 26/09/09
go the house mate,,, and the
go the house mate,,, and the boat will follow.
you should be able to make a small profit on the house if you buy wisely...and then buy the house and boat you want.
B.O.A.T stands for .... break out another thousand...
good luck either way mate
Man Overboard
Posts: 957
Date Joined: 16/01/10
Buy the boat now , because
Buy the boat now , because once you invest in the house you won't be able to afford it, missus gets preggers etc.
Plus You can't fish out of a house
+1
allrounder
Posts: 1853
Date Joined: 10/11/08
the other way to look at it is
if you buy the boat you can do weekenders up and down the coast until you find an area you would like to buy land
Just make sure you take protection as you would hate to get the little lady with baby to early as she may make you sell the boat as well
So tell me have you got your info from years on the water or hours on the internet?
Man Overboard
Posts: 957
Date Joined: 16/01/10
All too true, buy now, pay it
All too true, buy now, pay it off and convince her if you have to sell, you will drop thousands,
Better off keeping it, Babby can wait a couple of years.
roddo
Posts: 486
Date Joined: 16/10/09
i would own the boat in 2-3
i would own the boat in 2-3 years so it should be ok even if kids did come into the equation which they prob will.
thesupervisor
Posts: 1136
Date Joined: 10/06/09
you can rent a house for a
you can rent a house for a few years but not a boat for a few years lifes short
do bothbuy the boat and rent a rural property that way you can get used to the semi rural life without the full costs you may see
what to look for in a property for future purchase
getting the bottom line final answer from a bunch of blokes that use false names and put smiley faces at the end of paragraphs is not the best place in the world to get the information you seek.
wazzbat
Posts: 977
Date Joined: 19/01/10
After buying a house a few
After buying a house a few years back, I would say "Go the boat". Houses are too much work. Once you get a house, you won't have as much time or money for fishing! After owning (sorry - the bank owning) my house for 6 years now, I still don't have a boat. I'm with thesupervisor - life is short. You don't know how long you got on this planet???
I fish for the future - Cause I can't bloody catch anything!
kackles
Posts: 105
Date Joined: 30/09/09
mmm
Buy the house, the boat is just a liability, the house is a asset if geared correctly.
grayzeee
Posts: 2283
Date Joined: 09/07/09
boat. you're a long time
boat. you're a long time dead!
If I spent half as long fishing , as I do reading this bloody forum , I'd be twice the fisherman I am.
Andy Mac
Posts: 4778
Date Joined: 03/02/06
Buy a house boat
Move to Mandurah and have the best of both worlds.
Financially the house makes sense but piscatorially the boat is pretty appealling.
Cheers
Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
roddo
Posts: 486
Date Joined: 16/10/09
i live in mandurah and itsnot
i live in mandurah and itsnot the best of both worlds
carnarvonite
Posts: 8706
Date Joined: 24/07/07
Spot on
Spot on Andy, then if he doesn't like his neighbours he can up anchor and steam off. That way instead of five acres they will have hundreds only it will all be underwater. Set of goggles,snorkel and flippers will soon sort that out.
They might get a few funny looks when they're 20 nm out dhufishing though.
talking horse
Posts: 183
Date Joined: 08/07/08
I had the exact same dilema 3
I had the exact same dilema 3 years ago....
I got a 6m Genesis ova the house...
Best thing i ever done!
wazzbat
Posts: 977
Date Joined: 19/01/10
Respect
Respect
I fish for the future - Cause I can't bloody catch anything!
Percula
Posts: 275
Date Joined: 23/09/08
House!
House mate!
Boat will follow!
Man Overboard
Posts: 957
Date Joined: 16/01/10
Do you own a boat Percula ?
Do you own a boat Percula ?
scottland
Posts: 3045
Date Joined: 10/05/10
simple
get a house boat the whole oceans your backyard hahaha
i support two teams eagles and whoever is playing the dockers
barneyboy
Posts: 1392
Date Joined: 08/01/09
We were in the same dillema
We wrer half way thru the house purchase and got screwed over. So we both went stuff this lets get a boat. Just got back from a quick arvo crab sesh/ dolphin cruise. Lovely. We think we did the right thing, but only for the short term!!
FEEEISH ONNN!!!
solly
Posts: 375
Date Joined: 11/09/05
get both
get the boat chucked in with house,the way prices are going up the house will pay for the boat in 3 years
There are two types of people ,do'ers and watchers
Right now the do'ers are the doing it
And the watchers are watching us do it
DazSamFishing
Posts: 1518
Date Joined: 19/08/09
houses appreciate, boats
houses appreciate, boats don't. You can't be sure what the property market will be doing in 5yrs though.
wazzbat
Posts: 977
Date Joined: 19/01/10
Not at the moment they
Not at the moment they aren't. "They" reckon that house prices will drop over the next few years???
I fish for the future - Cause I can't bloody catch anything!
DazSamFishing
Posts: 1518
Date Joined: 19/08/09
Boat's don't return anything
Boat's don't return anything other than debt. Houses... you're safe if you do your research.
wazzbat
Posts: 977
Date Joined: 19/01/10
Yeah. You're right. Lucky I
Yeah. You're right. Lucky I bought back in 2004 but you still can't fish from a house. Unless you get a place on a canal maybe?
I fish for the future - Cause I can't bloody catch anything!
fisho-ron
Posts: 2539
Date Joined: 26/09/09
changed my mind now..... buy
changed my mind now.....
buy the boat...take the missus out deep deep, push her out......collect the insurance...buy the house!
mine is nagging me atm about being on here all the time, so i told her i am gunna do a dexter on her....
whinge bloody whinge, all you think about if fishing.
they would be stacked ten high at the tip if they didnt put out!!!!
sorry ladies, just getting frustraions out!!
strike_zone
Posts: 403
Date Joined: 09/09/10
too true
i just knew all women were the same ha ha
Lastchance
Posts: 1275
Date Joined: 02/02/09
Uncanny
I must have married your missus sister!
Lastchance
Posts: 1275
Date Joined: 02/02/09
Uncanny
I must have married your missus sister!
Faulkner Family
Posts: 18330
Date Joined: 11/03/08
i would be going a cheaper
i would be going a cheaper house in suberbia and in 5 years you should have made enough on the property for a good deposit on a nice block and have some left for the boat of your dreams. maybe get the house and a smallish boat so you can upgrade later on both
RUSS and SANDY. A family that fishes together stays together
synthos
Posts: 522
Date Joined: 23/06/07
boat
I think boat, as most have said house also has costs + costs also if u cant afford a decent area then the appreciation everyone talks about wont be as high, remember also that this annoying thing called intrest balances out any gains sometimes, even though house priceses do seem to be down at this moment.
I think the boat will be more fun more pleasure :)
7739ian
Posts: 948
Date Joined: 25/06/08
No brainer!
Look at this way - 6 years ago we bought a rural block we could not afford while on a weekend away in the south west. Sold up in Perth and did the tree change to a house in Busso - still had the block. Finally built during the boom and now live in a lovely quiet spot with Bay views. Being an astute investor we actually went backwards financially during the boom - BUT the block value is treble what we payed 6 years ago - what would a 6 year old boat be worth - and have cost us? Buy some land and a cheap tinny - mine cost $500 all up plus another $1000 in tart ups and is a great bay boat - still worth $1500 six years later.
Ectopic
Posts: 208
Date Joined: 19/10/09
From a financial point of
From a financial point of view it definitely is a no brainer.
Keep in mind the value of an appreciating asset will hopefully compound over time. The earlier you start accumulating appreciating assets the larger the difference down the track.
http://db.tt/DXvNMYOU
crasny1
Posts: 7028
Date Joined: 16/10/08
I am with ectopic and Ian
No Brainer.
"I would like to die on Mars. Just not on impact!!" _ Elon Musk
Paul_86
Posts: 1449
Date Joined: 27/03/09
IId have to say house too.
I
Id have to say house too. Its pretty hard to maintain a boat, pay rent on a place and still save a nice deposit for ur dream house!
Lastchance
Posts: 1275
Date Joined: 02/02/09
House
Cant believe Ive turned into my Dad.....
10 years ago would have said buy a $5000 grand Torana and spend $20000 on the driveline!
Seemed frustrating at the time, but I went the house and was the best thing I ever did - and you'll find that you wont mind as much working on it when it is your own (Either repairing or value adding)
Good luck.
Lastchance
Posts: 1275
Date Joined: 02/02/09
House
Cant believe Ive turned into my Dad.....
10 years ago would have said buy a $5000 grand Torana and spend $20000 on the driveline!
Seemed frustrating at the time, but I went the house and was the best thing I ever did - and you'll find that you wont mind as much working on it when it is your own (Either repairing or value adding)
Good luck.
smash
Posts: 434
Date Joined: 01/12/10
house
buy the house-renting is for mugs. You have security, equity (be smart about it) and your own castle.
Rent and you have arguments with the landlord about what you can park there, who can stay etc etc
Get a dinghy in the meantime.
Down the track you'll have kids and you dont want them to be those kids you remember at school who were only there for 6 months then moved on-again-and again-and again.........and ended up as losers
barneyboy
Posts: 1392
Date Joined: 08/01/09
smash,
are you saying that everyone who rents is a mug, a looser and can only maintain a lease for 6 months at a time? That is a very broad comment to make. I assume that you know alot of people who rent to make this so called educated comment? Stereotyping at its best!!
FEEEISH ONNN!!!
wazzbat
Posts: 977
Date Joined: 19/01/10
Good call BB. I remember
Good call BB. I remember hearing some multi millionaire on the radio a few years back now who said he had never owned a house in his life. "Why would you tie yourself down like that" he said. If you rent, you can move around and try different places, you don't spend all your life maintaining the thing and you don't have to pay insurance etc etc. There are other ways to make money. The asx has outperformed the housing market (averaged yearly) since it began??? You just gotta know which ones to buy? That's the hard bit.
Sometimes, I wish I was renting. I have even thought about selling up and renting but the missus isn't keen.
Then I could afford a really nice boat!
I fish for the future - Cause I can't bloody catch anything!
Lastchance
Posts: 1275
Date Joined: 02/02/09
Turn it up!
C'mon Wazzbat, everyone has heard the random millionaire he said she said crap! Make hay when the sun shines brother - you are a sparky, come up north and get into it!
Everyone's a winner baby thats no lie......
wazzbat
Posts: 977
Date Joined: 19/01/10
Ha Ha! I'm thinking about
Ha Ha! I'm thinking about it??? Just gotta finish something off first.
I fish for the future - Cause I can't bloody catch anything!
Lastchance
Posts: 1275
Date Joined: 02/02/09
Yeaaaahhh!
See ya soon!
roddo
Posts: 486
Date Joined: 16/10/09
well it looks like im going
well it looks like im going to have to do what the brain is telling me to do rather then the heart so a house is what it is then.
boats just gunna have to wait a little more, hopefully not to long though. might just have to convince people to take me out on theres for a while to kill the cravings.
cheers for all the advise everyone
Man Overboard
Posts: 957
Date Joined: 16/01/10
10 Deep at the tip
10 Deep at the tip !!!!
Dreamkillers
sarcasm0
Posts: 1396
Date Joined: 25/06/09
quality
I read that post and this one to the missus, dreamkillers:D Everytime I laugh at the tv she asks me if im reading that post again.
wazzbat
Posts: 977
Date Joined: 19/01/10
Good Luck!
Good Luck!
I fish for the future - Cause I can't bloody catch anything!
mightymouse
Posts: 395
Date Joined: 25/08/08
Smash I couldn't of said it
Smash I couldn't of said it better
Go the house and get a dinghy till you get some more money.
Or get a cheaper house and get the boat on the same loan (cheaper rate)
roddo
Posts: 486
Date Joined: 16/10/09
this really sucks i bought
this really sucks i bought the quokka today prob the worst thing i could of done its amazing what you can get for 20k in a boat these days. i think i have talked myself into a boat again as we will get so much more enjoyment out of that then a house.
i already own a dinghy and its just not good enough for down here in mandurah yeah its fine when we go up north and crabbing but thats it.
Alan James
Posts: 2299
Date Joined: 30/06/09
Buy the boat
Then in 7 years time you can look at the person that bought the $350k property that is then likely to be valued at $700k and you can call them lucky. Not lucky, a good investment decision.
Michael Yoni
Posts: 606
Date Joined: 02/01/11
I've seen where Roly Tasker
I've seen where Roly Tasker (and the Total Eden guy) lives - if that's not the best of both worlds I'd like to know what is....
Get bricks and mortar! (you can still hire a boat!)
MY
dagree
Posts: 660
Date Joined: 08/12/07
Went through the same dilema 26 years ago!!
House or boat? Had kids and that made the decision harder.
Decided on the house and haven't looked back. Spent most weekends fishing land based or as a deckie. Worked weekends to make ends meet. Weekends when not at work I was working around the house.
Long story short..... A $46K investment (loan) 26 years ago has turned into more than $500K of equity!!!!!!
Kids are off our hands "sort of" we are onto our 4th 4WD and 3rd boat... and all paid for via the equity on the house. No need for multiple loans/credit cards etc.
Go the house first and the rest will follow.
Cheers,
David (AKA Grumps)
Location: Heathridge. Toys: 120 Series Prado ... 5.3 Stacer Seamaster/Merc 90HP.
Shorty
Posts: 1549
Date Joined: 10/05/08
Yeah once you have equity in
Yeah once you have equity in your house you can borrow against that to get your boat,,
Nice houses with decent back yards can be had for around $220,000 down this way (kwinana) close to the city and mandurah and in the heartland of fishing a few minutes from the ocean,,
Its little or no difference in price to rent so why would you , you are not saving any money.
Man Overboard
Posts: 957
Date Joined: 16/01/10
I thought this was a fishing
I thought this was a fishing site, not the bleeding 7:30 finance report with Paul Poncy Clitheroe.
Listen Son . BUY THE BOAT, try and put it onto the house loan if possible.
Enjoy your mojo while you can.
House prices are doing jack.
When it comes time for a house, get in there, then enjoy the Lawnmower that santa (Carnarvonite in drag ) buys you for Christmas.
Life is too short..
beau
Posts: 4135
Date Joined: 24/01/10
You want my opinion? Ok…
You want my opinion? Ok…
Shut the hell up. I know your type well… first it’s “Sell the boat because it’s costing too much money.” Then it’s “No, you can’t go spend the weekend with your buddies because I need you to take me shopping.” Then it’s “Oh gee, honey… I’m pregnant. Gosh, I have no idea how that happened.”
hahahahah gosh i couldnt help myself.
House
Happy Hooker
Posts: 305
Date Joined: 12/11/08
....how about
You buy a caravan, move up north and become a deckie. That way you dont have to think about it anymore.
And if you are gonna have kids in the future , forget about boating for a few years once they come into the picture (and even if your missus says she doesnt want to have them , wait till later as the tune changes) .
So buy a house.
Hang on I meant buy a caravan.
Bugger it, buy a new 200 series landcruiser, a 26ft boat and a tent and do the top end of Aus with your missus. Get her up the duff, sell it all at a big loss and move into the burbs with a massive mortgage.
Hope that helps!
Shorty
Posts: 1549
Date Joined: 10/05/08
Buy a house put a renter in
Buy a house put a renter in it to pay it off while you fish around Australia,you might not get another chance to travel until you are 70 or so,,