Retirement: boat or condo?

[rfrye1]

San Diego floating condos

Real estate is not cheap in SD. Many folks looking for a second home buy a "floating condo" in SD. The 45 footer is a lot less than most real estate, you're on the water, and the mooring fee is manageable. Especially since SD is great 12 months a yr. I would venture to say 70-80% of the boats in my marina in SD never leave their slip. A lot of the owners live in Phoenix, Las Vegas, or places you need to leave in the summertime.

 

[Sailm8]

We have several friends who started out renting and became owners of houses or condos. I live in a condo and I am on the board. As with any community yoou have chronic complainers and condo nazi's. Our community is fairly quiet but we do have rules. The most problems are with pets. Poop pick up and barking being the biggest problem. The same problems exist in the surrounding communities that have HOA's.

I like the idea of renting during season and storing your boat during off season. Watch the Florida temperatures. If you like cool to cold weather the dividing line seems to be Sarasota/Tampa. Above is cold below is warm. My philosophy is "Never live where it gets colder than your age".

 

[seadaddler]

Rent

I would rent a condo with boat slip and try Punta Gorda,Fl and try it out first you will love Gulf coast Fl in say Jan to March when cold snowy up north.
Owning a boat in Florida is work and not cheap for just a few months just keeping it in good shape,living on a boat is also lots of work and as much as I love my boat and me and wife can do 4 weeks but like house house in gated community with everything done for us and plenty to do also,in my gated community they are fighting to try and rent for winter.
I am saying rent first and talking to most who have done what you want is to rent rent rent first.
I keep my boat behind a Canadian's house who comes down 3 or 4 weeks a year and is always $$$$$ cutting law,service the pool keeping it the house very nice and planning to retire in 10 years so he has a plan.
I love it here in Gulf coast and great boating for sure and so much more also.

 

[teebutch]

To give u examples of rent I have a condo 2br in Ft Walton Beach, FL and I rent it for $1300 a month in the winter and it is on the beach. Boat slips here run about $200 a month for a small slip.

 

[Steve Dion]

When you factor in taxes and condo fees plus special assessments I would not bet that a boat may be a better investment for a part time residence. It would be interesting to get an analysis of the real costs including boat maintenance.

 

[DougM]

Every once in awhile there is one of us who is dumb enough to have both. Living on a boat is not an option, so we own a home in Virginia for the winter and a condo for the warm months in Michigan. The boat sits ten steps from the back deck, and it takes ten minutes to go from the mooring to Lake Michigan. It's a good life, but the cash flow sucks.

 

[Bill1565]

When you factor in taxes and condo fees plus special assessments I would not bet that a boat may be a better investment for a part time residence. It would be interesting to get an analysis of the real costs including boat maintenance.

Boats should not be viewed as "investments" they are costly to maintain and they decline in value. Condos have sometimes appreciated. Better investment. Houses also. Isn't it wonderful to be able to have these choices!

 

[Panta Rei]

We have a few vacation home options. Just recently refurbed a sailboat and have it in a marina. We plan to sail it a few weeks to a month each year.
I have been studying the Marina life up here on Lake Michigan. Very Very interesting. Friday and Saturday nights are great times but not much to do other than that unless you work on your boat. We have a cabin in Northern Wisconsin. Much easier to use, friends and family use it all the time and join us while we are up there.
My point is to check things out. See what fits. A Motorhome sounds like something everyone should try once.

 

[Skipper]

Timeshare Condo. With a dock in the back.

Then put a good 10-20 year-old 30 footer back there. Still good condition, yet old enough to be affordable. With the condo, you won't need a 40-50 footer, and the larger expenses. You could dry-dock it in the off season, when someone else is in the time share.

 

[keys please]

Its all good, depends on your likes and needs..... As an absolute snow bird, the wife wanted house and pool with boat behind.... I would have been happy with just a boat..... but the way this has worked out we go bumming for a couple weeks or more and the house feels really good on the return... we re-seaply and off for another round... Up side she is really happy..... and this makes for happy boating.... It costs about 10k for taxes insurance and upkeep, but what does storage and dockage, in and out fees all cost yearly with a marina or a yard.... its all expensive.... as it stands i keep my 28 ft on a lift behind the house.... drop it in the water and ten mins later my sails are up and we are playing..... for me this is as good as it gets.... I love Florida, the gulf and the keys.... good luck on what ever you decide to do.... all the best, brian

 

[dlandersson]

I'm a bit father off re: retirement. I'm thinking of the largest trailerable sailboat I can get (with shower and potty) so I can rent a slip down south and then take it with me when I go. Any suggestions?

 

[Bill1565]

Contemplating retirement with the Admiral which is a few years away. Will probably stay in Illinois but would love to have that second place to live now and then (such as Jan. to March mainly). Not sure we want to committ to buying a condo. I have thought of buying a good size sailboat (40 - 50 ft range) and living on that for a month or 3 out of every year. Just wondering if any of you snowbirds do this now? What is appealing is the fact that you could move your home now and then when you got tired of the location. We have been to Charleston and this seems like a great place to start but Florida gulf coat sounds good too. Right now I maintain a boat for no more than 5 month use per year. Why not another boat down south for another 5 months? Anyone else do this?

Lots of folks do this. Many use boatyards either in Charlotte harbor or up the Caloosahatchie for off season. Do a search for stuff written by Sumner.

 

[Chief RA]

Just bought a 1998 Catalina 250 wing keel with trailer, have a 2009 studio apartment styled 25' trailer/w large slide out,(with trailer you have full use of your truck bed)annual lease RV site in Arizona and modest home in Butte co., northern Cal,at 2300' elevation in Cascade mountain range. Have spent each winter for many years in Arizona up and down the Colorado river. Great fishing for wife and I using our own inflatable kayaks! This December, plan to take Catalina through Arizona and see our friends on our way to Sea of Cortez for a loop around mainland Mexico and Baja! Then we'll really get some fish! Chief

 

[Sumner]

....Not sure we want to committ to buying a condo. I have thought of buying a good size sailboat (40 - 50 ft range) and living on that for a month or 3 out of every year. Just wondering if any of you snowbirds do this now?....

Hard question to answer as we don't know your finical situation or the comfort level you and your wife need on the water.

We bought an older boat with decent draft for Florida's west coast and have moved it 70 miles when we bought it but have lived on her for 3-4 months the last two years working on her in a yard (Charlotte Harbor Boat Storage). This has worked well for us with a monthly payment of under $250 year around and they will put the boat in and out 3 times a year for no extra cost.

We like it as it is like having a small apartment in Florida that is way less expensive and we still have something we can sell down the road. Hopefully the next time down we will get back in the water but will pay the yard while out so we can leave our vehicle there and have a spot when we come back in.

This works for us but I don't think many people would go for it. The bathroom/showers are 500 feet or so from the boat. Once we get the boat in the water we will be on anchor and not marinas which will be better than the yard.

There again very few people that we have met in the yard do the anchoring thing. They come down for 3-4 months and take the boat out of the yard and go find a marina to put in at. During the winter most marinas are in the $600-$700 per month range and you are still paying the yard to keep your spot there as it fills so figure on at least $1000 a month if you go that route.

I guess only the two of you will know what is going to work in your case. Your comment about getting a 40-50 foot boat makes me believe that living like Ruth and I do probably isn't for you.

I do agree that if you are considering the condo but don't know if that is for you then the boat would give you time to make a decision there, but you can't get into a boat and out of one quickly most of the time.

I can't see us ever making our permanent home in Florida and at some point even spending winters there probably won't happen. We just like were we live now to much to make a permanent change of address,

Sum

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[seadaddler]

Good Boat

I live in Punta Gorda and have seen so many ways to try it out first,you could buy nice size boat like 35 or 40 and try living on it first and some do it this way while sailing and visiting different places and checking things out and see for yourself what it is like.
2 boat storage yards in PG and 1 fulls up but next door plenty room and Burnt Store very nice Marina and plenty slips available and if living on boat is not for you than with boat could buy house or condo with slip.
I live in Punta Gorda full time and travel in our 33' motor home all over USA in July,August,Sept.
Nick