Buy a Houseboat?

[capjak]

Anyone own a houseboat? The kind the move on a lake, not the ones anchored in a marina.

Looking at possible retirement lifestyle on a houseboat (summer only) 2-3 nights at a time, than back home.

Any tips...did I miss anything? I owned a runabout about 20 years ago. Would want at least 2 bedrooms and 2 bath with 1 shower minimum, inverter, thrusters (60+ foot boat hard to dock), wet bar on top deck, slide out back.

Annual Fees:$11,200+
Insurance $1200
Winterize $500
Dewinterize $500
Slip Fee: $6,800 per year
Elect/Water: $1200 per year
Gas for engines/Pump outs: $1,000 per year

Maintenance every 5-10 years:10,000-12,000
Pull Boat/Engine overhaul every 10-15 years $10,000
Gel Coat 500-1000 every 5-10 years

So about $13K per year additional expense (plus upfront cost and of course decorating/accessories...) so say $15K. Plus BOAT syndrome of $1K. Budget 16K per year....hmmmm may have just changed my mind?

This would equate to about a .35% (2.3% total withdrawal rate including non cola pension, 0 SS) increased withdrawal rate as long as own the boat.

 

[sengsational]

I rented a big houseboat for a week for $3500. Split with 3 other couples. The smaller boats were quite a bit cheaper, so let's say $2800 per week, or $1400 for three days. So you could go 10 times each summer and not have any of the boat owner worries. Of course you'd need to book in advance, and if the weather looked bad, you'd just have to go anyway. And you wouldn't have your own "stuff" pre-loaded and all ready to go. So renting is a different animal, but might be a way to get your feet wet, so to speak.

 

[OldShooter]

I would try before I bought/i.e., rent or maybe work out a one-summer lease from a marina.

You know the old aphorism: The boat owner's happiest days are the day he buys and the day he sells.

 

[capjak]

I rented a big houseboat for a week for $3500. Split with 3 other couples. The smaller boats were quite a bit cheaper, so let's say $2800 per week, or $1400 for three days. So you could go 10 times each summer and not have any of the boat owner worries. Of course you'd need to book in advance, and if the weather looked bad, you'd just have to go anyway. And you wouldn't have your own "stuff" pre-loaded and all ready to go. So renting is a different animal, but might be a way to get your feet wet, so to speak.

Thanks, we have used houseboats via sibling for last 7+ years but never owned one. There is one for sale in a slip next to theirs which does not happen very often. Figured if we hate it we could sale it. Negative is it is a several hour drive to get there. Of course HBs can sit for sale for several years.

 

[capjak]

I would try before I bought/i.e., rent or maybe work out a one-summer lease from a marina.

You know the old aphorism: The boat owner's happiest days are the day he buys and the day he sells.

Yep, they are expensive to maintain, no doubt and a lot of work, guess it would solve my "what are doing in retirement" answer.

 

[Souschef]

On a similar but much smaller note, I was looking at buying a kayak. They are about $300, but I can rent one for about $15.It solves the storage and transportation problems.

I also looked at buying an airplane. I got estimates on maintenance, insurance,etc. Figuring on flying about 50 hours a year, I was within a couple of dollars of rental, without the capital expense and maintenance headaches.

 

[RobbieB]

There are lots of house boats here in the delta, they are quite popular. Some folks just live on them. I will have another boat after I get all the home improvements done but it will be just a little runabout with an outboard motor for fishing and it will be in a slip.

The marina is only 11 miles down the road -

 

[MRG]

On a similar but much smaller note, I was looking at buying a kayak. They are about $300, but I can rent one for about $15.It solves the storage and transportation problems.

I also looked at buying an airplane. I got estimates on maintenance, insurance,etc. Figuring on flying about 50 hours a year, I was within a couple of dollars of rental, without the capital expense and maintenance headaches.

+1

We had a few small sailboats back in the 80s. Sold the last one and decided we'd rent. We've rented exactly 1 time on vacation.

 

[capjak]

+1

We had a few small sailboats back in the 80s. Sold the last one and decided we'd rent. We've rented exactly 1 time on vacation.

Rentals do not allow pets and are about $500 per night plus gas bring your own linens etc...

Renting is usually less expensive for these type of items if you can find what you want when you want it...

 

[HillCountry]

Our family rented a house boat on Lake Powell last summer. It was great fun.

With 16k, you can get about 30 days of rental. Might be better than owning. Don't have to tow it to different lakes.

Either way, have fun.

 

[txtig]

In the past, we rented 54’ to 58’ houseboats for one week intervals several times on different lakes around the country. Each trip was some of the best vacation time we ever had. There is nothing quite like finding a new secluded cove, tying up for the night, firing up the grill and cracking open a cold one. DW and I are RV’ing now, but I could easily be talked into trading that lifestyle for house boating.