If you won the lottery, what would you do with that money? The most common answers are to help relatives, study, travel around the world… During 2020 and the first half of 2021 the latter was very restricted, but now more than one wants to get even. And there is no shortage of options. For example, in October 2021 the celebrations for the fifty years of Disney began.
For a few years now, there is a growing trend around the world to live on houseboats or boats and not only millionaires. With the financial crisis of 2008 many opted for that option before the loss of their home or because it was cheaper, in principle, than buying a house or an apartment. But more than ten years have passed, and that trend continues to grow. It could be because of the popularization of remote work, housing prices, etc.
Contrary to popular belief, a houseboat is not just a fifty million dollar yacht to travel the world. There are many types and in the face of climate change there are already cities that are adopting this modality. The best known are:
- Houses on the water: they are a variation of the traditional boats, but designed as a traditional house, with rooms, living room, dining room, patio, etc. The plans that follow are the same as that of any boat, they could even be moved, traveled or transported elsewhere. Very common in Holland.
- Houseboats: like houses on the water, their construction is done as you would with a boat to ensure their buoyancy. But they differ in the need to be anchored by four chains that link the structure to the mainland and prevent them from moving, vibrating or being affected by water currents.
- Boats/Yachts: undoubtedly the fashionable alternative in recent years. Many have it as a wonderful life touring all the ports of the world, traveling… And in part it is. But if you’re thinking about making them your permanent residence, there are several factors you should consider.
-
- Size: space is reduced on a sailboat, and the larger it is, the higher the maintenance costs. At the very least you should have a place for personal hygiene, a usable kitchen, a place to rest or socialize, where to sleep and storage space. It should be at least ten meters long (distance between stern and bow) for a single person or a couple.
And here you need to consider something. In such a small space it can be a challenge to coexist, especially if one of the two are not convinced by that lifestyle. That is why it should be a couple’s dream to avoid unnecessary tensions.
- Minimalism: in this case, it is not a style of decoration but a necessity. A boat does not have the same space as that of a normal house or apartment. If it is full of things, it will lose navigation capacity and with it part of its attractiveness.
On the other hand, the conditions are not the same for a sailboat as in a construction.
If you stay in a permanent place, in the USA you will also be charged housing taxes, in addition you must include in your budget the rate charged by the club or port where the boat is parked. On the other hand, if you plan to travel you must have a navigation license (it is not free) and make a detailed planning of the trip.
- Maintenance: It is much more complex than the maintenance of a house and remember that you will always have something to do. Cleaning can be complex due to the humid environment, and knowing how to ration drinking water is a must.
- Costs: the prices of a sailboat of ten meters in length range from USD 16,000 to USD 120,000. It all depends on your budget and needs. Additional must have monthly with the 150-300 dollars that can cost the mooring (parking in port or sports club) that will depend on the size, if the service includes water, electricity, comprehensive insurance, and other variable costs such as maintenance, fuel or possible repairs.
Since 2017, in Florida, the sale and rental of boats has become popular, either to live or to go on vacation. When hotels exceed capacity, boats are a viable option. There comes the GetMyBoat application where you can rent a boat for water sports or spend the night.
But from a financial point of view, is it viable? If your long-term plan is to fulfill a deferred dream, it is your lifestyle, you have settled and the fixed maintenance costs are lower (not in all cases: taxes, services and parking are also paid) it is the best option. But if you are planning to make a profitable, safe, scalable investment it is better to consider other options.
As every vehicle (except for high-end collectible models) depreciates, there are brands with a better reputation than others influencing value, engine designs change, technology advances and in general suffers more palpable wear than that of a house in the field. Depending on the brand, years of use, skill of the mechanic the arrangements in a boat are the order of the day, something not very common in a real estate.
Renovations to homes on land are done either for wear and tear or for being old-fashioned, but you won’t have to be thinking about it all the time. And there’s the fact that as properties appreciate, yachts lose value.
In any case, it is important that you evaluate the pros and cons of each option, whether it is buying a house on dry land or buying a sailboat, especially if you have a family or permanent partner. Take the time to consider each option. You won’t regret it.
At PFS Realty Group, given our real estate activity, we are focused on advising those individuals and families who are interested in making investments in houses for sale in Miami and South Florida, we have been working for more than twenty (20) years and for this, twenty (20) years that give us a specialty in what we do, if you want to explore real estate investment opportunities, we can schedule a meeting, face-to-face or virtual, to expand this information. Write to us at info@pfsrealty.kinsta.cloud and also visit our www.pfsblog.kinsta.cloud website to learn more about us.
